A lesson in how to find trades: Charthacking

The morning has brought about (again) a push lower in the U.S. Dollar but it seems that along with the USD weakness another story is justifying the EUR bulls.

I want to mention that the “story” doesn’t always precede the price move in a public way. The EUR is the beneficiary of the flood of JPY looking for yield in Europe (and across the globe) and since the USD can’t seem to get out of its own way, the EUR continues to run stops higher because – for now – that is the path of least resistance!

I wrote a short article about that here

There are three ways that a pair can land on your radar and not so coincidentally, there are three ways that you need to analyze/understand a pair too!

I recorded this video to explain it:

  • Rushmore

    I am very pleased to meet you. New to the game so am in the first half of the bell curve. When I finish school here hope to have enough common sense built up to at least break even. Made my first virtual trade. Came out with 50 pips. To bad not real money. But could have been a real loss. Like your crown. Hope to have a long retirement here.
    Retired and living in Brasil