Here's an update on my experiment with using no indicator on my analysis of the USDJPY this week. I got the same level of result because on my weekly technical outlook thread, I wrote among other things on Sunday:
Nevertheless, I have and generally use an effective combination of one or two indicators with structure-based price action trading.
KP
Disliked...The USDJPY has been sideways for a few months. On the monthly timeframe, ambivalent candlesticks were printed in April and May, although the May print was slightly in favour of bulls. {image} The momentum is presently in favour of bulls on the weekly time frame. The past three weeks have seen the printing of bullish candlesticks, but a directional dominance is lacking judging from the relatively small size of the candlesticks printed....Although bulls have a slight edge, we should await a breakout of price action from the channel before committing...Ignored
KP
Disliked....I chose to remove all indicators from one of the pairs I am tracking this week and leave them on the remaining three. Why? I want to see how good my weekly technical analysis on the one particular pair compares with those on the other three.....Note: Please Do not just go strip down the indicators on your charts! Stay safe, trade safe. KP {quote}Ignored
Do your homework, follow the footprints of smart money