Direct from the desk of Dane Williams,
This is not your average forex broker email.
Take a look at the higher time frame charts in today’s weekly market preview blog.
I want you to pay attention to the USD/JPY daily and the zone that price is currently sitting inside of.
The pair is sitting right at higher time frame resistance, and by holding that zone, today’s price action has presented a possible opportunity to get short.
Now zoom into the USD/JPY hourly:
So we had price at higher time frame resistance as I highlighted on the blog.
We then zoom into an intraday chart such as an hourly and find the last piece of short term support that we look to be retested as resistance for an entry.
If you’re an aggressive trader then you’ll use the short term zone to manage your risk around, but remember that the trade is only actually invalidated if price breaks above the higher time frame zone.
If you have any questions about this setup or the simple support/resistance trading strategy that I use, then simply hit reply to this email.
I read and reply to everyone inside my Inner Circle who takes the time to email.
Best of probabilities to you,