Today in the main forex trading session The Forex Heatmap® had a live signal showing JPY (Japanese Yen) weakness on all 7 pairs we follow in this group. All of the JPY pairs moved higher, creating opportunities for forex traders. There was also some AUD and NZD strength on the market today. This pushed the NZD/JPY and AUD/JPY pairs strong to the upside. These two pairs should continue higher on the H4 time frame for at least one more day. The live forex trading signals shown below for the JPY pairs is from The Forex Heatmap® during trading today.
The heatmap is a simple but powerful tool that provides forex traders with an easy to interpret visual map of the forex market. Any forex trader, even a beginner trader, can interpret the live forex signals from the heatmap. It is clear that that all of the JPY pairs are rising, then the arrow system points you to the best trading candidates. Then traders can check to see if there is any nearby support or resistance along with the condition of the trend using the simple trend indicators we provide to our clients. Here is a link to an informative video about how to use The Forex Heatmap®.
Most live signals provided by various brokers and websites are for scalping, which benefits the broker. With these live signals the focus is more on swing to position trading with the higher time frames, so these signals are much more valuable. If you see a strong movement on a pair, like the NZD/JPY, and the pair is trending up, traders can hold on to their positions and let the trend do the work as the pair continues higher. The heatmap can also be use for short term trades or daytrades.