The Yen pairs are influential for sure in analyzing the overall currency market. By acknowledging that the behavior in one pair influences price action in another is called parallel analysis, and it lends itself well to Dow Theory, which states that what happens in one index must be confirmed by a second index for a price move to [...] [...more]
Below is a Monthly chart of USDJPY. Whichever side of the white horizontal line price is on represents the current trend on the Weekly chart; and which ever side of the maroon horizontal line price is on represents the current Monthly trend. So we can see that the current direction is down on the weekly, and up on the monthly. [...] [...more]
If there was only one tool I could use as a trader it would be the trend line. Time and time again I see markets confirm or reverse their current trend by way of a trend line test or a trend line violation. The market is blind justice, and trend lines are the balance beam from [...] [...more]
§ Trading= Risk The winner understands and accepts risk. This gives him the most important quality he can have: a trader’s mindset. His trader’s mindset insures he does not hesitate to take trades. He understands that his success or failure lies not in taking trades, but in not taking trades. The difference between working very hard [...] [...more]
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