Hey guys, just giving you an update on what the power indicator is showing us today. Remember, the power indicator is all about going with a trend, because your chances to win with the trend are always better than going against it.
So I am going to look at the 4HR chart to see what the indicator most highly suggests.
Well, you should pick the pair that is already in the strongest trend that the indicator suggests. If you take a quick look at the EUR/GBP 4hr, you will see that though it is strong, it is against the overall trend which we don’t want to take.
Next is the GBP/CHF. If you take a look at it, you will see that it has been trending down for a while and has actually had a recent retracement so this could be a great sign for the continuation of the down trend. Let me show you the chart:
(click to view in full size)
So this looks like a nice entry, and is backed up by the power indicator. I am going to wait for the current four hour bar to close and if it has a lot of red in it, I will be going for a 200 pip short!
Hope you guys keep an eye on this, and leave me some comments about what you think is the best way to enter into a trend…
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