Forex Trading Education: Take a step back and see what the big picture is saying

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In this video, Greg Michalowski of ForexLive demonstrates how to look longer term at forex charts.

Sometimes we get caught in the minutia of the shorter term swings. Non-trending periods can tend to do that as the focus is on the break.

We as traders have to make sure we divorce ourselves from the shorter perspective and take a broader view of the market.

In this educational/trading video, I take a look at the EURUSD from a longer term perspective as we head into the weekend – a perfect time to step back and look at the broader view. In this weeks trading after a period where the market paused, we did have a break lower. That move has taken the EURUSD to an area defined by a key Fibonacci level and swing lows.

Of course all pairs are different but I hope that this video was able to outline an approach you can take to define the lines in the sand (and other key levels) for your trading ahead.

 

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