High-Probability Techniques for Trading Forex

Discussion in 'Educational Resources' started by expiated, Apr 10, 2023.

  1. expiated

    expiated

    PART III

    After acknowledging the power of fundamentals and noting that event risks can quickly overturn a trader's positions, Prescott ends his book with a section that lists and describes the five most important pieces of economic data (in addition to central bank monetary policy meetings) for the U.S. dollar, the euro, the Japanese yen and the British pound respectively, pointing out that "we never rely on charts exclusively."
     
    #31     Apr 15, 2023
  2. expiated

    expiated

    I forgot to mention that Prescott includes a number of charts illustrating each type of trade, both the times when it succeeded and the times when it failed. Also, a couple of the strategies have a variation which he also explained and illustrated.
     
    #32     Apr 15, 2023
  3. expiated

    expiated


    The last ten days of EURJPY price action...

    EURJPYDaily.png
     
    Last edited: Apr 19, 2023
    #33     Apr 19, 2023