Monday, December 20, 2010

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.




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