Week 51 EuRJPY Analysis

(Technical analysis done by Eric Lye in our Forex Trading Blog. The purpose is to share how we analyze the market using price action and put ourselves on the side of higher probabilities of the possible scenarios)

Last week, price attempted to make a higher high but eventually still fail and tipped over forming a rising wedge and a possible CD leg down move in coming days.

It's going to be a new year soon.  I hope traders that are following my blog would put in more effort to learn about price action and understand the market better.  It is pointless trying to learn "trading systems" or "high probability strategies" without the fundamental abilities to understand the market.  If you do not have strong economic background, technical charts is your best friend!  If you are not good in either both, then highly likely you are a gambler without knowing yourself.

Week 50 EURJPY Analysis

(Technical analysis done by Eric Lye in our Forex Trading Blog. The purpose is to share how we analyze the market using price action and put ourselves on the side of higher probability of things happening.)

I have not been able to update my blog for past weeks.  Trying to figure out ways to make a difference in the way we deliver our knowledge to traders.  (Have been trying the Google Wave, quite a cool tool)

Anyway, year coming to an end, but that doesn't means there is no trading opportunities :-)
But, do trade with caution and take it a bit slower.  What is going to happen next year is really difficult to say, but as long the charts tell us something, we plan accordingly