Seems after the holiday lull, its a cable and EUR selloff. Not sure of direction, just pip-raiding few pips per trade.

Seems USDJPY has indeed reversed to bullish. I was expecting an attempt to run through the 15yr lows lowest level 79.75, before a reversal. But the monthly formation is now turning neutral from bearish,while the weekly is turning bullish. Long order triggered @83.05, stop @82.40 target @84.50. I still expect 85 to be a major barrier for now. But once broken, 89 is next. Depending on how it handles the next 3 days, I'll determine if its long term or just a few days trade. The $ index also needs to get back above 79 to start moving $ trades. Above 80 will see more strength in the $.
USDCAD has successfully defended parity. Above 1.0210 will turn it up aiming 1.04xx.
Finally if the EURUSD gets back to 1.3850-1.3900, I'll be looking for sell that bounce rally.

i have tried forex without anyformal training and lets say...DAMN...lost all my deposit in a flash....but thats a usual trend in business..

1:which are the most accurate indicators?

Forex is tricky n needs alot of discipline and clear consience. I prefer using leading indicators, but there are days I also lose.

Try RSI (with a setting of 14), and Slow Stochastics (I have a 5,3,3 setting), and have a SMA 14 on the graph for the trend. The 2 former will give u turning points, and you can use on 5 mins, 15 mins, 30 mins, hourly or daily; and use the period depending on how short term or long term of a trader you are.

But importantly dont practise with your money, use demo.

Hey, the cable dropped over 200 pips today. Maybe you are trading on very little capital? If not you need to adjust your lot size. A big factor in winning this forex game is making sure you are properly capitalized. Reduce your lot size and increase your time frames then I hope your profits will soar. All the best ....

Closing the EURUSD short here - 320pips in the bag. The weekend bailout news played into the expected early asia spike. May 2010 is repeating itself with the euro which is good for $ strength.
Now hunting for Aussie shorts since the China rate hikes last week are bearish for aussie. Of interest is AUDUSD, AUDCAD and AUDNZD. I'll post my positions when I establish them. So far I'm still holding to USDJPY and I've now upgraded it to a weekly play. But its a dinosaur, hardly moving since last week. USDCHF still working out for some weeks now - aiming 1.05s. USDCAD is still struggling to hold on above 1.02s. Above 1.0250, I'll be long aiming 1.04 then 1.06.

just a word of caution to those those trading fx,after thanksgiving every year i have noticed that liquidity reduces heavily and therefore causing a lot of ranging thus whipsaws, in the early years i experienced most losses in this last two months of the year, i have therefore found it prudent to wait it out until the big boys return around second week of january, if you have to trade then do so cautiously but by all means shut off those expert advisors, give those stoplosses some slag from supports and resistances, i spend most of my time in this period developing new strategies and automating them plus a lot of relaxation.