Terrific trend on the EUR/AUD this morning

by Quantum Trading Comment Closed
In this morning's forex trading session with Anna and David, one of the currency pairs they focused on was the EUR/AUD, which was the strongest performing currency pair in the currency matrix. The 60 minute currency strength indicator confirmed the longer term position, with the euro (the orange line) climbing strongly towards the overbought region on the indicator, with the Aussie dollar ( the blue line) moving firmly towards the oversold region in this timeframe. The 5 minute chart alongside reflects the trend, with the trend monitor maintaining the bullish picture, and only moving into a transitional color during the minor congestion periods. The trend monitor sister indicator,  the trend dots completes the picture and highlighting these congestion phases in advance. Volumes throughout the move were in agreement and confirming the bullish sentiment for the pair with the accumulation and distribution indicator on NinjaTrader, highlighting the keys areas of support and resistance. The support platform at 1.4252 held firm during the...
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Forex currency strength indicator explained

by Quantum Trading Comment Closed
Question Hi Anna, Firstly, I just wanted to say I've just finished "Forex For Beginners" and I thoroughly enjoyed the book; found if extremely helpful and useful. Opened my first forex account on Friday of last week. Made some mistakes at first, lacked the discipline to follow my strategy, I think I was a tad over keen to trade at first. I've just purchased "A Complete Guide to VPA" so I'll start on that tonight. I have a quick question though if you wouldn't mind answering. In Forex for Beginners, you use the Currency Strength Indicator to look for potential indicators of an upcoming reversal. And then from this you use the currency matrix and analysis to confirm the reversal. I was just wondering, if you could use the same strategy to indicate a continuing trend? If this is explained in the book I've just purchased I apologise, I just thought I'd ask. For example, if both the Aus and Usd are...
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