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Currency-trading

Characteristics of Currency PairsHey Guys! Here are some characteristics of currency pairs that I noticed over the years. Perhaps it'll help you find the pairs that best fit your trading style, or perhaps you can use this information as an add-on to your current strategy. Gbp/Usd - Tends to overshoot key levels. - Can use to get better risk/reward. Both on entries and targets. - Can expect many fake breakouts; where key higher time frame levels may be broken on the lower time frames but fail to break out on the higher time frames. Eur/Usd- Tends to accurately respond to key levels. - Can be used for tight stop loss placements for there is no need to add a couple pips for wiggle room on this pair. - Especially on this pair, remember to enter/exit without being greedy or scared. Due to the response accuracy at key levels, price will not give you a second chance to enter a trade or take profits. Usd/Jpy-Tends to have huge moves without price confirmation.In other words, price gets forced up or down by a higher power for months at a time. - Can use to ultimately enter counter the initial direction of the forced move; expecting price to return to fair value. - Can use this characteristic to ride this forced move while not requiring price confirmation for your entry. Usd/Chf- Tends to have false break outs. - Especially on this pair, remember to watch the lower time frame's price action to make sure the break out is legitimate. Eur/Jpy, Aud/Jpy, Gbp/Jpy tend to form trade set ups simultaneously. - If you notice a strong move occuring on the eur/jpy, pay attention to the aud/jpy and gbp/jpy for possible trade opportunities and visa versa. That's it! I hope this helps! Ken
Education
by TradingForexPriceAction
3
Dollar Index Still Above Support! Hello, Traders! DXY( The Dollar Index) is in a free fall However, the strong Support area on the WEEKLY chart is near This is the area, where I expect the falling to stop And perhaps reverse, at least in a pullback. So is it time to buy US Dollar across the spectrum? Not yet, as the currency is not yet quite reached the support So even though we are seeing a small pullback on the DXY I think it will fall a little more Before hitting the support Where I expect to enter a range, after which it will be decided Whether the Dollar goes Up or breaks the support And keeps falling. Fundamentally, there is a shortage of Dollars right now So I stand with the former. But lets see what the new year brings us! Like, comment and subscribe to boost your trading! See other ideas below too!
TVC:DXYShort
by TopTradingSignals
2
AUDUSD FOR MORE DOWNSIDEVery similar to eurusd, I expect some more strength from the usd dollar to push these pairs further to the downside. As always the market moves in waves so expect to see price make a pullback and then another leg down to at lest the support at 0.70500 then possibly further. Price looking very weak though on the daily so these pairs could potential break the supports making that move down further early in the week, but if so I will not be entering, the risk reward would not be there and is not apart of the structure I trade from. Next coming weeks I expect price to get choppy so be very cautious trading around these day by day fundamentals..
Short
by jamison_fx