Just another fake rally thanks to the BOJ intervention to make the USD go down for a few hours. A lot like last week's GBP comeback. I wonder if the Aussies & Canadians will do the same soon. The last BOJ intervention lasted 2-3 days. Probably by Tuesday USDJPY will be back above 150.
I posted this before -- this is my "dumb-it-down" indicator whether to be in/out of the market. @Overnight hates stuff like this because it implies people might actually have an edge.
Thank you formikatrading, always trying to learn! Might you tell me what those items in that chart you posted are? THanks!
It is real data -- It's a custom indicator I had someone code for me on TradeStation. It is part of my secret sauce. Here is how it looked in early 2020. It's not perfect, but helps give me conviction.