USD/JPY Trade IDEA NFP Week
Trading pairs have never been easier for me until I started trading in this manner in which I am going to describe.
After taking several demo account losses I stumbled across an article on trading forex pivot points. After reading I decided to try a simple strategy that has simplified trading in all aspects, however if you still do not get the basic fundamentals I would rather recommend that you do your fair share of work in learning candle stick patterns, support, resistance and on and on.
I found that if you wait till market close and pin point the exact price of NY Session end mark it. Wait till 15 minutes after London Session time and if the price is above your Session Close you Buy unless at a key Resistance Area!
If price is below the Previous Session Close than you should Sell unless at a key support area.
All of these key areas should be used on higher time frames while the lower time frames are used for price action analysis.
If you are selling using this method you increase your chances about 60% of the time as a winner and if you are buying your chances increase to almost around 80%.
After taking several demo account losses I stumbled across an article on trading forex pivot points. After reading I decided to try a simple strategy that has simplified trading in all aspects, however if you still do not get the basic fundamentals I would rather recommend that you do your fair share of work in learning candle stick patterns, support, resistance and on and on.
I found that if you wait till market close and pin point the exact price of NY Session end mark it. Wait till 15 minutes after London Session time and if the price is above your Session Close you Buy unless at a key Resistance Area!
If price is below the Previous Session Close than you should Sell unless at a key support area.
All of these key areas should be used on higher time frames while the lower time frames are used for price action analysis.
If you are selling using this method you increase your chances about 60% of the time as a winner and if you are buying your chances increase to almost around 80%.
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