Last night in the Nadex Sunday night Forex Breakdown, I reviewed the USDJPY and identified the Overbought Stochastics on the daily chart and anticipated a move down to at least the 360 minute ATR stop (blue plus sign on the chart). So what happened when Asia opens? Watch the video below to see what happened (also included the video of the Forex Breakdown for those that were unable to watch it).
Overbought Stochastics Sends USDJPY Down
Using the higher time frames to identify the potential direction, traders using the TradersHelpDesk indicators and methodology, go down in time to identify the best opportunity to enter the trade. In other words, for confirmation of what the higher time frames are identifying
Going down from the 360 to the 60 to the 15 minute charts, the trade is identified and traders could have used the Nadex Binary Options, Nadex Call Spreads, or even the new Nadex Touch Brackets for an easy 40 pip move down.