As traders we are faced with a process of selection every single day. If one was only to trade FX there are 6 majors to choose from, however when you combine the majors and minors you have a serious amount of charts to look at! The question is, how does one pick the best charts for trading?
OK, we all trade differently so some will see in places what others don’t, that’s a given. What I want to do is set up a bit of a test for you to decide on which trends are strongest. Keep in mind that even if you are a counter-trend trader you really do need to have a good understanding of what a trend is to be able to pick when the trend is about to end.
The currency we are going to focus on is the JPY.
Have a look through each chart and decide which chart (or charts) you like and why. This is purely based on trend, nothing more.
Here we go …
OK so out of these 7 charts which one /s do you think were trending the best?
Personally, I have come up with 2 that are of interest to me, they are USDJPY and GBPJPY: