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Originally Posted by elihayun
Hi,
Here is USDJPY just before its last drop. I tried every indicator I have and none of them could predict the drop. Is anyone here can do that?
I just delete the prices from the history (H1 data) changed the TF to 4H and come back to 1H to get this chart.
Thanks
Eli
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Hi Elihayun,
Check the daily chart,8SMA(7 or 9 will do similarly,but many fund managers use 8/21 SMA`s combination to add positions in a perceived trend,and when they execute based on their perception of "retracement in downtrend" they WILL MOVE THE MARKET),in my opinion it looks like a minor retracement to one of the "usually followed" Simple Moving Averages in a clear downtrend.
Sometimes the simplest indicators,in a higher timeframe,will give you a clue,
sometimes you just have to take the loss,or recognize who the other party is
(volume clues?)and side with them for profit

,when possible.
SIMBA