Do you have open trading position this week...
Sometimes a chart looks so inviting that we want to jump in before the trade gets away from us.
One the of the primary principles of trading is to "preserve your capital". We have to take some risks, but we should employ strategies which put the odds in our favor. With that in mind, I suggest that you should not be the first person to buy a declining market. Wait for support to develop first.
Here is a practical example of how to approach a chart, how to avoid a trading disaster, how to filter out those bad trades. Click here for details...
The Japanese Yen (JPY)- weakened sharply against the greenback following on from strong U.S equity markets, resulting in an increased risk appetite amongst investors. The yen has fallen to a 7 week low against the dollar...
USD/JPY-There is a very distinct bullish channel forming on the daily chart, as the pair now floats at the middle of it. All oscillators are showing bullish momentum, and the Bollinger Bands are getting tighter which indicate an additional upcoming bullish move. The next target price of 104.60 appears to be valid....
P.s. Good luck if you trading...
Forex.DelijaWorld.com
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