USD/JPY Daily Outlook
Thursday, July 21st, 2011 at
7:43 am
Intraday bias in USD/JPY remains neutral for the moment and consolidations from 78.46 might extend further. While another recovery could still be seen, we’d expect upside to be limited by 79.69 support turned resistance and bring fall resumption. Below 78.46 will resume the whole decline from 85.51 and should target
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Tagged with: currency forecast • forex market outlook • Forex Signal • fx trading signal
Filed under: Action Forex Market Outlook
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I prefer the quarter method. When unsure, I flip one. I have one in my drawer named “Headly.”
Two best ideas for FX Trading;
Be extreamly skilled in Trading Money Management (it’s more important than pick the right pair.. in the right direction).
The only successful traders in FX are those with disipline that have developed their own favorite “systems”.
Honestly, none of them. First off, almost all indicators are lagging by nature. They are basically telling you what has already happened. They look great when you back test them, but when you use them in real time, its a completely different story.
Think about the purpose of them as well. Indicators are like interpreters of the market. Instead of traders figuring out how to read and understand price movement, they’d rather just let indicators do the work for them.