Tips & general help to make you a better trader by Phil Newton, Developer of Trading Strategies at TradingStrategies.info
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by Jerry Furst
November 09, 17:00 GMT
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Hi Folks today’s video takes a look at EURJPY and GBPUSD… both showing vastly different views.
EURJPY channeling and trending down so looking to sell the rallies in a down trend
GBPUSD confirmed a consolidation yesterday and once again on the sidelines until price gets to an interesting level in relation to that consolidation
Happy trading
Phil
Hi Folks,
Been a weeee while since I last posted a blog entry here so I want to get back into some good habits and say thank you to everyone who has waited patiently for me to re-start posting again.
Taking a look at just two cross rates on this video dealing with the price action sequence that I use to gauge direction. As mentioned on the Video the bias is up and is potentially turning back down again which at the time of writing the earliest that will develop for me with my data feed is at 14:00 UK hours.
The strategy that I curerntly use is basically keeping me on the sidelines as I cuurently cannot determine some solid levels of support.. this doesnt mean to say that there are not any there… just in relation to the Fib strategy that I use.
Happy Trading
Phil