everyone LOVES a rollercoaster n’est pas ?
World Braces for Fed Easing Amid 36-Hour Rate Rollercoaster
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A Full News Events Calendar in the Week Ahead
The Fed has the proof it wants that inflation is slowing, but the next move is still up in the air
A week’s worth of inflation data showed that price pressures have eased substantially.
– jeff cox
EURUSD AND USDJPY – Combine the two majors and one gets: EURJPY
And once again a long-term view can produce a shorter timeframe trade
Re: XAUUSD “to the moon.”
It must be Friday the 13th.
Thursday, it was noted by a particular firm out there that it was the 176th trading day of the year. The firm noted that – “As of this afternoon, the S&P 500 was up 17.6% year-to-date, while last year on the 176th trading day of the year, the index was up 17.7% year-to-date,”
This is where you start looking for black cats in Forex.
NAS100 DAILY CHART – 5 DAYS UP HERE TOO?
5 up days here, too, (assuming there is a higher close today) but you can see the key levels on this chart that would need to be taken out to make this more than just an impressive rebound.
Attention will be on whether the 5 day up pattern can be extended when the new week starts.
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US500 4 HOUR CHART- 5 DAYS IN A ROW
It has been pretty much a straight line up since the higher 5406 low but to make this more than just a rebound, it would need to take out the record 5672 high.
Standing in its way is 5657.
ATTENTION WILL BE ON THE 5 DAY UP PATTERN WHEN THE NEW WEEK STARTS ASSUMING THERE I A HIGHER CLOSE TODAY..
Sensible … BE SENSIBLE …
I say don’t be sensible – BE PROFITABLE !
Forget Dudley ( in FT), forget powell’s advisor, (FED wants you to think IT is focus on everything labor.)
As long as players keep on being anxious, the DLR is likely to be tilted to the downside.
I like to watch certain monkies in the jungle as sentries “coz they know” and one such animal currently is the USDJPY’s 140.20-18ish. All sorts of dominos plays will trigger if the yen goes stronger.
With all much due respect to those of the belief the FED will cut by .50, most of the actual executives you listen to think that thought is absurd and we will have a .25 basis cut. A 50 would shock the system and scream of inefficiency and recklessness, not to mention deep problems within the economy. A 25 basis cut would be more logical in almost all ways. The lack of a cut would also rattle markets as it would demonstrate lingering problems and not a “mission accomplished” position, which is what the business world is hoping to hear. There are already trillions of capital adjustments that have transacted in both business and finance in projection of a .25 basis cut.
Be sensible people.
Importance of Specializing in one/few instruments vs Running after everything that moves
Most of you have seen on the net those video ads that show you a mobile phone in hands of a guy, sitting behind the wheel of Lamborghini , scrolling it up and down and showing numerous instruments being traded at the same time – yeah right…
I don’t want to insult anyone, but c’mon guys – don’t you know it better.
I have explained some basics on the risk management ( stop loss, trade size, R/R ) and if you paid just a bit of attention to it, you would know what kind of calamity comes your way if you open more than one position at the same time.
So I am not going to waste my ( and your ) time in going deeper into this.
What I am going to try to explain here is the Importance of Specializing in few Instruments.
To be able to successfully trade every single day, and to come up with positive results at the end of the road, you must know your enemy ( and yes, all these instruments are your enemies ).
Why is it so important when we use the same techniques, same charts, same strategies on all ?
Well, because every instrument has it’s own set of rules and the behaviour differs .
First of all, those differences are visible and levelled in the Crosses – so unless you want to follow every single one of them ( Crosses), 24/5 , you better concentrate on the main pair.
You can spot the behaviour of different pairs if you follow them on smaller time frames.
At first you might not see/understand what is so unique with any given pair, but after some serious time it will start coming back to you – first as a Hunch/Gut feeling ( your sub consciousness will recognize it) , and then you will slowly start to see it and use it.
Trading forex is not the same as trading Stocks or Metals for the example, and all those very old rules used in last hundred years and more are useless when it comes to currencies.
That old adage – Don’t put your eggs in the same basket might have some sense today if you are creating your 401K , but in Intraday trading it is just ridiculous.
If you open few positions at the same time, with different instruments you are on the road to lose on all of them.
Probability is not going in your favour – on contrary ( Murphy’s Law ) , and you are going to start looking like a crazed chicken running around.
You need to come to the point where you live, breathe, dream of and follow every step of the instrument you trade.
I am sorry if this is not what you expected from trading to be , and that making it big is a very difficult, long and tiresome process, but I am telling you what you have to do if you want to be successful in trading.
GBPUSD Daily
Supports : 1.31150 , 1.30550 & 1.30000
Resistances : 1.31550 , 1.31900 & 1.32450
Pretty clear situation , with two scenarios :
– 1.30550 holds it’s grounds – we’ll be turning Up
– 1.30550 taken out – we’ll be gunning for 1.28500
Close tonight is very important and might give us a clue on coming days.
I’ll post an update late tonight.
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