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USDJPY PROFIT

11th December 2018 contacttf

The relative strength index (RSI) is most commonly used to indicate temporary overbought or oversold conditions in a market. An intraday forex trading strategy can be devised to take advantage of indications from the RSI that a market is overextended and therefore likely to retrace.

I was a little late getting in because my focus was looking through the longer term charts.

The USDJPY has not been kind to me, so I was a little cautious.

Trade closed manually because of my record, and the price looked like it was bouncing off the flat area of the cloud.

The Chikou span is the lagging indicator component of the Ichimoku Kinko Hyo candlestick trading model. The Chikou is a line of the most recent price action, but it is plotted 26 trading periods into the past. Chikou spans are designed to allow traders to visualize the relationship between current and prior trends.