If the ultimate goal of a trader is to potentially increase their earnings by engaging in the financial markets, then surely they must be delighted when any market begins trending in a healthy fashion!
Trends are born, grow and mature in every market, and it has been said that the instrument we trade doesn’t so much matter as it’s current condition- in other words, stay away from choppy or stormy charts.
I’m taking a cursory glance across all of our asset classes to see what’s trending- why don’t you explore this with me?
This list included looking at:
- Covered in yesterday’s Daily Picks article, the UK’s FTSE100 Daily is still going strong.
- CADJPY Daily, most likely helped by the general JPY weakening has a good healthy uptrend.
- CHFJPY’s 4-hour timeframe is also enjoying solid gains.
- GBPJPY Daily has recently broken up through a resistance level and appears to be taking off!
- And finally, USDJPY itself, but on the 4-hour timeframe continues to seek new highs.
There are times when many markets are moving, and there are times when it’s only a few. It seems like today, it’s restricted to only Forex, at least until the U.S. session kicks off.