Forex Great British Pound Charts - Forexmospherians.com

GBPJPY || Short

Short before retail sales news and so will see how it will develop aftewards. Many thanks to @Johnradical and @GenX, to bringing my attention to this lovely pair. =)

Comments

  • Bang, SL hit. If only I closed partial before the news... that greed lol
  • Looked nice, maybe s/l to break even and taking partial profit would be better!?
    • Definitely the partial was the way to go before the red news.

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Forex Market analysis relies on two types of analysis much like Stock Markets:

Technical Forex Market Analysis views the data on a chart and considers that the News and Data is built into the Price already (economic, political, social, sentimental and psychological). Various tools and indicators will be used by technical traders, for instance MACD, Bollinger Bands, Moving Averages and more.

Fundamental Forex Market Analysis also uses indicators, for instance reports, Gross Domestic Production (GDP), Retail sales, Consumer spending, Industrial Production, Consumer Price Index, Commodities, Economic Calendars, Balance of Trade levels which could identify Trends between other Nations and more.