Trading Levels

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Will Duxon
Will Duxon added a new post
2 years ago

Though it is true that past performance is not necessarily indicative of future results, I nonetheless believe that by analyzing historical data and reoccurring price patterns, traders can pretty well establish the range within which foreign currency pairs typically relegate themselves, all things being equal. So when news that the U.S. and Japan had agreed to expand trade sent the yen pairs on an (artificially induced?) trip north, the indicators I designed that are generated based on historical data knew IN ADVANCE where the rates were likely to reverse direction. Consequently, as soon as I saw the rates begin to falter in those regions, I entered short positions in accordance with the general overall intraday trends.

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