6/8 Analysis: Clear Trade Set Ups
So the first thing you’ll notice is the EUR (pink line) and CHF (turquoise line) are strong (way above the zero line) and the JPY (yellow line) and USD (blue line) are weak (way below the zero line).
These would be currencies we want to watch during the session, however at the moment they don’t meet our criteria for entry because they are not getting stronger (or weaker) and don’t have steep lines representing momentum in the market.
If we fast forward a few minutes into the NY session, this is what the indicator is showing:
You can see the EUR is continuing to get stronger and now has a steep line up indicating current momentum in the market.
The USD is continuing to get weaker and now has a steep line down indicating current momentum to the downside.
- EUR/USD BUY
If we look at the price chart that was a move of 64 pips. You actually had several trade options today and I go over them on the video.
Watch the entire video analysis below:
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.
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