Another excellent forex session with some great questions too, and we started with an explanation of how to use the four components of the currency dashboard. Then it was off to the GBP/JPY for some key volume price analysis lessons on a candle by candle basis with the volatility indicator once again playing a key role.
Renko charts are a great alternative to time-based charts, and working in conjunction is the perfect way to achieve a blend of time and non time based charts.
During the session the Japanese yen continued to deliver with a nice move on the EUR/JPY pair, before we rounded off the London forex trading session looking at the currency strength indicator in various timeframes, and the importance of considering currencies that were moving in the same direction. The Swiss franc was one example where strong buying was reflected in the currency, but where this was moving with other currencies, then the strength of that trend was likely to be weak.
Leave a Reply