Learn how to trade forex using the currency strength indicator and currency matrix indicator, and in particular how to isolate out the currency pairs to focus on those you are trading.
https://youtu.be/_G4X9POpRvI...
No matter which market or instrument you trade, using different timeframes is a foundation stone of trading and one we cover in detail in the mechanics of trading module in The Complete Forex Trading Program The reason is simple. One timeframe will reveal things you would not see in others and so provides a complete view of your trading horizon.
https://youtu.be/77GKpmS3NFo...
https://www.youtube.com/watch?v=Xco-6tVb7PU&t=183s
The currency matrix looks at the relative strength and weakness of 28 pairs and ranks them accordingly. The values assigned to each pair can also help to determine the strength in the flows in the time frame under consideration. In this video, it was the Aussie dollar which was of interest following the RBA statement and how this had impacted the aud/usd and a potential reversal on the 10 min chart....
https://www.youtube.com/watch?v=Otx8IoOx_Uc
What to consider when trading the British pound and cable in particular from the best times in the trading sessions to the average number of pips the pair is currently delivering, and comparing this with the gbp/aud. Also how to use the alert function on the currency strength indicator to pick out a move away from a congestion phase of price action.
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This is a perfect example on Cable of a congestion, followed by the breakaway,then comes the trend and now possibly a reversal.
https://youtu.be/HNf0A2Vf1ZU...
Currencies move in a continuous cycle from overbought to oversold and back again and this price action is perfectly described by the currency strength indicator for NinjaTrder and at the start of the London forex trading session we see the USD and JPY rising strongly with the AUD falling strongly and delivering an excellent trade before the reversal begins.
https://youtu.be/77bvX1RKckA...
Sentiment in the financial markets is expressed as risk-on or risk-off, and following the release of Chinese data overnight, market reaction could best be described as mixed with not universal agreement in risk asset classes.
https://youtu.be/ABAGHm4-Yi0...
Sessions crossovers arrive daily and the big one is always when the London forex market gets underway with the deepest liquidity. This is when the market makers are at their most active from 8am UK time with volatility, reversals and congestion following. Some of the traps are on high volume as the market makers participate, others on low volume, but all are clearly signalled with volume price analysis and the volatility indicator for MT4, MT5, NinjaTrader or Tradestation.
https://youtu.be/ddWmqMEWX6Y...
