Fan Yang
About me the Analyst:
- I am a Chartered Market Technician, which is a designation for technical analysts. This means I base my analysis mainly on looking at charts and using technical indicators to help me assess the markets.
- I am a day-trader and use Daily, 4H and 1H charts to explore trading ideas, while using 15-min, and mostly 5-minute charts for execution and trade management.
- I do look at day/weekly charts for the big picture, but only draw ideas from them at major levels or break of major levels.
About me the Trader:
- I have been trading the currency markets since 2005.
- I focus on the foreign exchange (forex) markets as I trade mostly the majors like the EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/CAD, EUR/JPY, GBP/USD, AUD/JPY etc.
- I try to trade into a trend seen in the 4H and 1H chart. When the market goes against the trend, I use 15-min and 5-min charts to get ready to trade back into the direction of the preceding trend.
- I use moving averages, bollinger band, RSI, support/resistance, patterns, and candlestick analysis to assess the market and fish for trading ideas.
- Fundamental analysis and awareness of risk sentiment in the markets are important as well. Although risk events can provide trigger, or a pivot in time for significant moves, I try to stay away from events like the Non-Farm Payroll, where the risk is always higher for me around the release. In these situations, I wait for the market to settle and show true reaction or indifference to the event.
- The analysis helps with entry at a position that allows good reward to risk ratio. It is not the possibility of direction that gets me into a trade, it is the relatively low risk taken if I am wrong that gives me the trigger to trade.
- Two old saying seem to be a major part of my trading mantra - "cut losses short, let winners run" "let the market come to you".
- It is more important to focus on the process of trading as the result will follow. Being able to internalize the process and control your environment against extrinsic risk (internet issues, errands, talking to clients etc. are all important in the endeavor to become a good trader.
- Fan Yang CMT Chief Technical Strategist- RBA Maintains Rate at 4.25%; AUD/NZD Finds Support
- AUD/USD Gives Back the NFP-Reaction-Gains Ahead of the RBA Meeting
- EUR/CHF Anchoring Away from the 1.20 Floor in Expansion Pattern
- GBP/USD Confirms Channel Breakout but Also Completes ABC Correction
- EUR/USD Ready for Another Bull Run After a Double-Three Correction
