JPY - Trend Update
Hi guys, as mentioned before, I post these chart shots for a few traders that use this indicator.
I use the market barometer to see if/when trends are reversing. I draw a trend line on the chart (just like a price chart). I'll place the line across the bottoms or tops. If the currency line (in this case the yellow JPY line) crosses back over my trend line, I know that the trend is reversing. Simple and very effective.
If it crossed over your trend line, open a fade or reversal trade. If it doesn't cross back over, you can jump back in the trend to catch a few more pips.
I use the market barometer to see if/when trends are reversing. I draw a trend line on the chart (just like a price chart). I'll place the line across the bottoms or tops. If the currency line (in this case the yellow JPY line) crosses back over my trend line, I know that the trend is reversing. Simple and very effective.
If it crossed over your trend line, open a fade or reversal trade. If it doesn't cross back over, you can jump back in the trend to catch a few more pips.
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