Wednesday, April 2, 2008

With These Charts

There is a dominant side to every one of these charts and there is a secondary side. The USD is dominate right now, however on some of the charts the CHF and Yen are dominant. You have to think of it in terms of relative value. Which currency is overvalued and needs to correct itself? Which currency is undervalued? Enter when the price either breaks a trendline or is near support or resistance after a bounce. In some cases you will need to wait for the price to move up or down before fading the move (trading in the opposite direction).

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