[GVI Forex 2]

Trade like a pro

How can you make sure you trade like the professionals? One of the best ways is to make sure you treat your trading like a business. You need to be sure that when you are trading you are trading; it is not for fun or speculation, but to make money.

We have some tips and ideas to help you make that a reality.

Trade like a Pro – 8-STEP CHECKLIST TO DETERMINE IF YOU’RE TREATING TRADING LIKE A BUSINESS

Trade like a Pro – 8 STEP CHECKLIST TO DETERMINE IF YOU’RE TREATING TRADING LIKE A BUSINESS

[GVI Forex 2]

USDJPY WEEKLY CHART – UPTREND SINCE THE START OF 2023

USDJPY has been in a weekly uptrend since the start of 2023, which elevates the importance of its weekly trendline. There is already a 10% range from the low to the high this yeasr

Where is the risk?

While the techincal risk is still pointed up (note the trendline), the volatility risk is if the currency reverses to the downside. However, betting on intervention or other policy moves to reverse the trend is expensive given the cost of a rollover being long JPY, pitting those trading on hope vs. those trading on fundamentals.

To keep it simple,

152.92 = 50% of this year’s range and 151.91 is last year’s high.

To make it even simpler, USDJPY trades with support as long as it stays above 155 and only sub-150 trade would suggest the high is in.

On the upside, levels are clear

158.00 and 160.16

This suggests 158-160 would be the intervention alert zone.

I haven’t mentioned JPY crosses, where there is less chance of intervention.

[GVI Forex 2]

EURUSD WEEKLY CHART – INSIDE YEAR

I remember when central banks used to look at 10 big figure ranges, such as EURUSD 1.00-1.10, 1.05-1.15. 1.10-1.20

Looking at this weekly chart not only is the range less than 10 big figures but is also so far an inside year.

Taking it one step further, 50% of the 2023 range is 1.0860 vs Friday’s close around 1.0845

Compare that with USDJPY and you can see why the EURUSD has been better suited for short-term trends rather than betting on longer-term trends and breakouts.

This does not mean it will not trade like this forever but at least it puts the price action in perspective.

So without fine-tuning, you can either use 1.0860 (I prefer 1.0850, which is close enough) to set its tone for day trading while within 1.08-1.09, a range too tight to last,.

[GVI Forex 2]

Fed’s preferred inflation indicator (PCE) will likely show that disinflation stalled in April

Eurozone inflation is forecast to have increased in May but the move up is seen as atemporary.

Newsquawk Week Ahead 27-31st May: Inflation data from the US, Eurozone, Australia and Tokyo are the highlights

Newsquawk Week Ahead 27-31st May: Inflation data from the US, Eurozone, Australia and Tokyo are the highlights

[Belgrade Bobby]

Mtl – Re BoJ – we all know ( when I say “we” I mean us being in this game for decades ) that a single central bank never successfully reversed the big trend . However, we all remember ( hope we all still do J how it looks like when Major central banks come together and decide to show the way….

[Mtl JP]

Bobby / I like to “package” the BoJ as someone who has every intention to undermine , doesn’t matter if it causes injury or even death, with the goal to be understood

[Belgrade Bobby]

GBPUSD Monthly

Big Picture

EMA 50 1.28000

WMA  7 1.26000

SMA 10 1.25545

Pattern calls for an Up move – targets at least 1.35

[SF Monedge]

US Dollar Index is in a short term sell cycle and likely headed to 104 or lower in our view.

JP – Agree on BOJ

[Mtl JP]

bobby / fwiw assume BoJ is always lurking.
BoJ is not concerened with gradual price moves , like in a lull speed
Expect BoJ wake up and get nasty when it sees rapid massive price moves
or when peasant players are in a lull themselves, thinking of, for example, golf game

[Belgrade Bobby]

USDJPY Daily

Support 156.750 , 156.350 & 154.950

Resistance 157.150 , 157.500 & 158.000

Stubbornly pushing up , almost invisibly , like trying to lull in BoJ

[Belgrade Bobby]

EURUSD 4h

Resistance 1.08700 , 1.08950 & 1.09800

Support 1.08350 , 1.08150 & 1.08050

As long as below 1.08700 prefer the downside

Above 1.08700 becomes Bullish.

[SF Monedge]

The US Bank Index has maintained a near flat participation rate since 8am PST.  This is one of many conditions showing a very limited horizon for the duration of the day in Euro and stocks.

[SF Monedge]

Note to the forum – Monedge is adjusting its focus back toward primarily serving institutional and high net worth individuals.

If you are an individual just like anyone who does not fit those categories but may be interested in acquiring expertise on a more in-depth basis, we are still accepting clients and will maintain service for you but the window is closing to acquire our assistance if you are new.  Therefore if you are interested, we suggest giving us a good look and moving fairly soon to sign us up to help you with your trading results (www.monedge.net) if desired.

And of course, Global View is a rock solid resource for a variety of interests and commentary, and we will continue to post here.

Thank you from the team at Monedge.

[Mtl JP]

what could be a tit for tat over the weekend ?
–
wsj – Ukraine Hits Russian Complex in Occupied Crimea With U.S.-Supplied Missiles
The strike was the latest in a mounting campaign against Russia’s air-defense systems, war planes and other military infrastructure.

[Mtl JP]

hahaha been there done that ?
courtesy WSJ:
–
Citi Isn’t the Only One With a Fat Finger Problem
Being rushed, typos and confusing ticker symbols are among the reasons small investors cite when they’ve bought the wrong stock.

just out of curiosity – anyone trade using a cell phone ?

[SF Monedge]

Our model is indicating Euro should be done for the day on the bid side overall around current levels, barring something substantial occurring.

[michael Calif]

Option Profile remains BEARISH NQ and SP500 futures despite marginal new highs, ne longs at these levels are buying the Top.

[GVI Forex 2]

GBPUSD 1 HOUR CHART – KEY HIGH AN OBSTACLE

GBPUSD having an outside day but facing a key area at 1.2750-61

With the US and UK closed on Monday it looks like pre-long weekend books quaring.

[GVI Forex 2]

USDCAD 1 HOUR CHART – FRIDAY LOONIE TUNES

USDCAD following the general USD trends on Friday and retreating after failing to hold above 1.3698-1.3748

It is now dependent on the trendline and 1.3658 holding to contain this move down.

[SF Monedge]

Call options are not pleased today in Aussie and puts in the outside month are at session highs.  Risk off there.

[Mtl JP]

from the expert on transitory inflation
–
Janet Yellen says many Americans still struggling with inflation
US Treasury secretary Janet Yellen has said “substantial increases” in living costs are a “problem to a lot of people” as persistent…

and oh yes… lets raise import duties things chinese

[SF Monedge]

Dxy is finally catching a little bid.  Stock internals are negative even though the indices are showing very slight gains.  Therefore not sold on much of a risk appetite environment (which would be long Euro) headed into the weekend.  Expecting the 10yr yield to hold 44.50 and perhaps close near it, anything happen.  Market is parking money and taking into consideration geopolitical and other uncertainty one might think.

[GVI Forex 2]

Given the recent upheaval in the Prop Trading industry and reports of firms closing up, this article will be getting a lot of attention.

15 Questions Traders Should Ask Potential Prop Firm Partners

15 Questions Traders Should Ask Potential Prop Firm Partners

[GVI Forex 2]

Bonds reacting to a downward revision to inflation expectations in the final UofM consumer sentiment report.

[Mtl JP]

DLRchf 914-ish
I am biased: 9132 should hold S

[Mtl JP]

top of hour:
U o M cons sent

[Belgrade Bobby]

GME GameStop Corp. (NYSE)

Dead man walking….$18 kind of a last line of defence…if there is any

After it $15….$10….use your imagination: D

[GVI Forex 2]

EURUSD 1.0850 EXTERTING ITS MAGNETIC PULL

WATCH US BOND YIELDS TO SEE IF 10-YEAR CAN MOVE ABOVE A STUBBORN.4.50%

fED’S wALLER IS NEXT NEWS FOCUS.

[Belgrade Bobby]

NVDA Nvidia

Nvidia Stock Soars Past $1,000
Chip maker announced a 10-for-1 stock split in bid to make shares more affordable after they jumped 25 times in the last five years.

Nvidia doesn’t care about other stocks…obviously…

 

[GVI Forex 2]

US500 4 HIUR CHART – BOUNCING BUT..

US5– bounce would need to at least recover above 5283 and hold there to ease the risk on the downside.

Keep an eye on US bond yields with the 10-year hovering again just below the pivotal 4.50% level

Note your price s may differ as CFDs prices can vary from broker to broker. Look for a similar pattern or line on your chart.

[Author]

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