Productive distractions, my EUR/USD trades, and using the yen to find the market driver

…long title but it describes my morning ForexAM show today perfectly. I outline the details of my two recent EUR/USD trades as well as how I use the yen (versus the dollar and euro) to discover whether the Dow or the U.S. Dollar is the market driver. And I also briefly discuss Directional Bias to show how I ruled out a 60-minute EUR/USD swing buy.

– Watch how a fade “fail” led me to a trend-following swing buy on the daily EUR/USD

and

- How by using the daily chart’s “overall” Directional Bias kept me from a 60-minute EUR/USD swing BUY!

– How I use the USD/JPY and a Dow Jones and U.S. Dollar chart overlay to discover what’s driving market psychology

I outline these ideas and strategies step-by-step. If you have any questions, feel free to leave it here at the blog.

Follow me on Twitter to see the updates of the trades from my daily ForexAM show as well as updates on how I have been trading parity on the USD/CAD.

Read about my six step entry process, DECIDE, at my Daily Trading Edge blog.

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