HOW TO TRADE A TRICKY PAIR BY USING ONE TOOL ONLY
HOW TO TRADE A TRICKY PAIR
SEE THE WEEKLY CHART TO LEFT
PRICE IS AT CROSSING ZONE WITH
A LOT OF DOWNSIDE PRESSURE STILL.
ITS ALSO AT ITS CURRENT MEDIAN FAIR VALUE
BUT COMMODITY BASED CURRENCIES (THE CAD IN THIS CASE) DON'T TEND TO RESPECT ITS MFV - IT WILL RATHER GO FROM ONE EXTREME TO ANOTHER.
PRICE IS FIGHTING LIKE HELL RIGHT NOW
TO PICK WHICH OF ITS TARGET OPTIONS IT WILL GO FOR NEXT.
THIS IS A FIGHT BETWEEN TWO WEAK CURRENCIES THAT BOTH ENJOYS SOME TEMPORARY STRENGTH NOW AND THEN. OIL PRICES WHICH AFFECTS THE CAD AND IS A COMMODITY JAPAN LIKE TO BUY CHEAP. AND THEN THE BOOST THE JPY GETS NOW AND THEN AS A SAFE HAVEN CURRENCY (WHY ONE PICKS THE YEN FOR THAT BEATS ME BUT IT IS WHAT IT IS)
THE ONLY SAFE WAY TO TRADE THIS ONE ON SHORTER TIME FRAMES IS IMO - TO LET THE WEEKLY PIVOTS GUIDE YOU. OVER THE WEEKLY PIVOT IS A BUY AND UNDER IS A SELL. EASY AS THAT EVEN WITH A PAIR LIKE THIS. THE RULE IS TO BE PATIENT AND WAIT FOR PRICE TO COME CLOSE TO THE WEEKLY PIVOT AND THEN SEE IF IT BREAKS OR BOUNCE. WHAT IS DOES NEXT IS THEN YOUR TRADE. TRADING BASED UPON DAILY PIVOTS USING THE SAME TACTICS IS POSSIBLE, BUT NOT AS EASY ON CHOPPY PAIRS LIKE THIS.
PS. FOR THE CONTRARIANS OUT THERE THAT DON'T GRASP SIMPLE CONCEPTS - SAVE YOUR COMMENTS FOR SOMEONE WHO CARES. FOR THE REST OF YOU - TRY IT AND YOU WILL LIKE IT D.S.
STAY AWESOME
SEE THE WEEKLY CHART TO LEFT
PRICE IS AT CROSSING ZONE WITH
A LOT OF DOWNSIDE PRESSURE STILL.
ITS ALSO AT ITS CURRENT MEDIAN FAIR VALUE
BUT COMMODITY BASED CURRENCIES (THE CAD IN THIS CASE) DON'T TEND TO RESPECT ITS MFV - IT WILL RATHER GO FROM ONE EXTREME TO ANOTHER.
PRICE IS FIGHTING LIKE HELL RIGHT NOW
TO PICK WHICH OF ITS TARGET OPTIONS IT WILL GO FOR NEXT.
THIS IS A FIGHT BETWEEN TWO WEAK CURRENCIES THAT BOTH ENJOYS SOME TEMPORARY STRENGTH NOW AND THEN. OIL PRICES WHICH AFFECTS THE CAD AND IS A COMMODITY JAPAN LIKE TO BUY CHEAP. AND THEN THE BOOST THE JPY GETS NOW AND THEN AS A SAFE HAVEN CURRENCY (WHY ONE PICKS THE YEN FOR THAT BEATS ME BUT IT IS WHAT IT IS)
THE ONLY SAFE WAY TO TRADE THIS ONE ON SHORTER TIME FRAMES IS IMO - TO LET THE WEEKLY PIVOTS GUIDE YOU. OVER THE WEEKLY PIVOT IS A BUY AND UNDER IS A SELL. EASY AS THAT EVEN WITH A PAIR LIKE THIS. THE RULE IS TO BE PATIENT AND WAIT FOR PRICE TO COME CLOSE TO THE WEEKLY PIVOT AND THEN SEE IF IT BREAKS OR BOUNCE. WHAT IS DOES NEXT IS THEN YOUR TRADE. TRADING BASED UPON DAILY PIVOTS USING THE SAME TACTICS IS POSSIBLE, BUT NOT AS EASY ON CHOPPY PAIRS LIKE THIS.
PS. FOR THE CONTRARIANS OUT THERE THAT DON'T GRASP SIMPLE CONCEPTS - SAVE YOUR COMMENTS FOR SOMEONE WHO CARES. FOR THE REST OF YOU - TRY IT AND YOU WILL LIKE IT D.S.
STAY AWESOME
