6/26 Analysis: Ideal Conditions on NY Open
Today at the NY open we actually had very favorable market conditions already existing and don’t have to place pending orders or wait for the market to change.
The USD is the strongest currency (blue line up top) with a steep line to the far right indicating current momentum to the upside.
The AUD is clearly the weakest currency and getting weaker with a steep line to the far right indicating current momentum to the downside.
- AUD/USD SELL
As you can see, from the point of entry this moved down 27 pips before pulling back.
Watch the video analysis here:
You can see that our Currency Strength Indicator is an effective tool for picking out the highest probability, lowest risk trade set ups while avoiding market conditions that aren’t favorable. If you keep using this tool every day along with our daily Forex analysis, you will increase your win rate and be on your way to becoming a profitable trader long term.
Share this article
Learn to Trade from Top Traders
Join the CCT community and get FREE, unlimited access to all of our trading resources from top hedge fund managers and pro Forex traders around the world.Join Now