welshsteven
Junior member
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Hey everyone, i'm relatively new to trading and up untill recently I have only been building up my skill and knolwedge of the cable market, but now i've started looking at other markets and have come into a little problem.
For instance, when entering a trade on the cable i look for an inverse movement on the usd/chf and conforming movent on the eur/usd as some of my confirming signals to enter a trade, now these seem quite simple entry rules so i do combine them with other indicators. but... when trading on other markets, i.e. usd/jpy - aus/usd - usd/cad etc. what other markets can I use as confirming movement signals, if any. I use the MACD for confirming strength in one direction and I also use RSI for oversold or overbought territory, but this doesnt feel enough, do I need anything else?
Hope someone can help in some way.
Cheers all
Steve
For instance, when entering a trade on the cable i look for an inverse movement on the usd/chf and conforming movent on the eur/usd as some of my confirming signals to enter a trade, now these seem quite simple entry rules so i do combine them with other indicators. but... when trading on other markets, i.e. usd/jpy - aus/usd - usd/cad etc. what other markets can I use as confirming movement signals, if any. I use the MACD for confirming strength in one direction and I also use RSI for oversold or overbought territory, but this doesnt feel enough, do I need anything else?
Hope someone can help in some way.
Cheers all
Steve
