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Now, besides the fundamental's that we are aware of.
I want you to pull up the stochastics indicator , and I want you to put the %K period as 8. and the slowing period as 34 with %D as 34. if you look closely, whenever the fast moving 8 crosses 34, there should be an increase in price trend, I will be building another chart for this. Keep yourself updated.
(1) Firstly it is very important to understand price trend, and chart patterns. Looking at the current chart pattern we see multiple reversals once touching the trend line that is drawn on the chart.
(2) Second, looking at the current chart pattern that is developing it looks like an inverted head and shoulder pattern, perhaps breaching the continuous trend line.
Now that we are done getting the jist of the chart pattern that is currently developing, we should be drawing certain pivot points, such as $96.73 is a level that it should perhaps definitely reach before a bounce back above towards $99. Hence, I would recommend increasing buying at $96.73 levels.
Now lets have a look at the technical's. On the Daily chart the USD/JPY is still over the 200 DMA levels, which still lies in the bullish zone. The other sign is that of the 1460 EMA period. This lies below current market price of the currency pair, which still calls for a bullish price trend.
If we look at the 15 minute chart. we see that the 200 DMA is also just below the current market price, but the 1460 EMA is exactly above the price trend. leaving the price trend stuck in between both the 1460 EMA as well as the 200 DMA . This calls for good scalping opportunities whilst the price lies in between.
Now the first answer to the question to why I would be buying before the price rises is because the price still lies onto the bullish zone with the help of the technical's as well as the price pattern, and that any dip in the prices of the USD/JPY is another buying opportunity.
Rest, you can follow me for more info and trading strategies..
Good Luck trading