Utilization of the "Visualization Indicator" (Part 48)
Usage of the "Visualization Indicator" (its48)
1. Further evolve the "28 Currency Pair List Indicator" into an indicator
“8CPVisualization Indicator”to plotCADJPY.
There are the “8CPVisualization Indicator”Oceania version,London version,NewYork version,AnyCP version. This time, we used theNewYork
The upper half is theCADJPY 15-minute chart. The blue arrows in the upper half indicate the alert positions of the “28 Currency Pair List Indicator”. The lower half is the “8CP Visualization Indicator.” The light blue thick line chart corresponds toCADJPY.
By surpassing the threshold on Monday, buy CADJPY, and if you settle on Tuesday (server time24:00), you could have aboutprofit of190 PIPS..
It would have been acceptable to enter a little later at a point where the graph group breaks upward. In that case, the profit would be about180PIPS.
2. Best SelectTry the Indicator
The figure below was captured onJune,2022,21,20:46.
The numbers are sorted in descending order.
The top row showsEURJPY which has[M5],[M15],[M30],[H1],[H4],[Total] all shown in light blue. This indicates a strong upward trend.
Now, let's look at the EURJPY chart.
The red arrows mark the captured points. From here, you could have about50PIPS of profit, but unfortunately the alert appeared only in the latter part of a major rise.
Looking at the chart, if you had entered on a breakout after surpassing the most recent high——it would have yielded more than about150PIPS of profit.
The “28CP Best Select Indicator shows the currency pairs with the strongest momentum, but it does not guarantee that this state will continue. Indicators are, by nature, lagging tools, so trading relying solely on indicators is not recommended. You should still look at the chart and make a holistic judgment.
3. Since last May, what happened with EURJPY?
Since May,2021,MayEURJPY has been tracked.
To view the overall trend, a 30-minute chart shows approximately the last3 weeks.
Last time, it was written as follows.
A largeN shape is drawn. Regarding future movement, since the yen is likely to remain weak, if the yen becomes weaker, it will likely rise further.
A largeN shape has been completed.
Regarding future movement, it still looks likely that the yen will remain weak, so there is a high possibility it will rise further.
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