USDJPY Moment of Truth: Rally Attempts Breach of Key Slope Resistance. Do Themes of Yen Weakness, Dollar Strength Have Continuation Potential? Gold Prices Continue Descent Through Key Support Zone. Extreme in Euro Speculative Longs Grows, Crude Oil Specs Hit Bids. FTSE Fortifies Important Support, but Has Big Test Ahead. Short Term Strategies, Scalping, Price Action Analysis, and Risk Management. Trend traders enjoy the luxury of first identifying market direction prior to executing a trading strategy. Today we will review the basics of trend identification. Traders look to identify market trends to market advantage of the extended directional moves provided by Forex currency pairs. Trends can last for days, weeks, months, or even longer allowing traders to bias their positions in one specific direction. If a trader can find the direction of the trend, it can exponentially increase the likelihood of having a successful trade. To begin our discussion, we will first review how to identify an uptrend on our graph. Today we will begin with an example using the USDJPY weekly chart. Learn Forex — USD JPY Daily Uptrend. Identifying a trend is the first skill we need to master before considering a trading plan. An uptrend can be defined as a market that makes a series of higher highs and higher lows. Pictured above, the Identify is an excellent example of a continuing trend. Since the first low pictured at Notice how the market has now made a series of higher highs as this uptrend has developed over the past 2 years. This is indicative of a strong trending move and our trend is expected to continue as long as our lows and highs continue to increase in value. Uptrends are the perfect environment for finding buying opportunities. As forex in the daily graph above each time the NZDUSD identify moved temporarily lower, it has found support prior to moving on to higher highs. Regardless of the strategy used, trend traders will continue to buy this uptrend until it concludes with the creation of a lower low. Once a trend is established, there are a limitless number of ways to trade them. One method is to employ a simple trading strategy. However for those that are looking to trade trends, but spend less time in front of their charts, may consider using FXCMs Mirror Trader. Using the Mirror Trader software, traders can select from a variety of trend based strategies. This includes DailyFX PLUS trading signals which can be applied to over 14 different currency trends. These strategies market be applied at any time, while allowing traders the ability to customize position size and currency pair selection. To learn more about using the Mirror Trader platform, join us for a LIVE webinar walkthrough. Walkthroughs will begin at trends Join in and learn more at the link HERE! To contact Walker, email Forex FXCM. Follow me on Twitter at WEnglandFX. Take advantage of FXCMs auto trading Mirror Trader platform. For a review of the software and a complete platform identify, click HERE. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Market News Headlines getFormatDate 'Mon Jun 19 Rally Attempts Breach of Key Slope Resistance getFormatDate 'Mon Jun forex Technical Analysis Headlines getFormatDate 'Mon Jun 19 Extreme in Euro Speculative Longs Grows, Crude Oil Specs Trends Bids getFormatDate 'Mon Jun 19 Education Beginner Intermediate Advanced Expert Free Trading Guides. News getFormatDate 'Mon Jun 19 News getFormatDate 'Sat Jun 17 Short Term Strategies, Scalping, Price Action Analysis, and Risk Management Connect via: Upcoming Events Economic Event. Forex Economic Calendar A: NEWS Articles Real Time News Daily Briefings Forecasts DailyFX Authors. CALENDAR Economic Calendar Webinar Calendar Central Bank Rates Dividend Calendar. EDUCATION Forex Trading University Trading Guide. DAILYFX PLUS RATES CHARTS RSS. DailyFX is the news and education website of IG Group.