Heikin Ashi Forex Trading Blog.

Heikin Ashi - Daily chart analysis!19/01

We have yet another day of choppy trading with no real direction. Yet its good news as we will soon be seeing the market moving sooner than later. With really important news releases today, This coule be the day.

Daily Chart :

Charts showing weakness and aroon indicator also showing lot of weakness. MACD sloping down and this could be signalling a short here. However I would still like to err on the side of caution and wait for the markets to show the direction before I put in the trade rather than be caught on the wrong foot.

We will look for a short at 1.7570 with a stop about 50pips and profit open.
On the long side we will look at 1.7725 with stop below 50pips and profit open.

Let the news decide the direction and then lets jump in. Its still a toss of a coin, but slightly favoured to go lower.

posted by ProphetOfProfit @ 5:46 AM