T
Indian consumer prices open the calendar on Monday and are expected to remain steady just under 5 percent and nearly a point above the Bank of India’s target. Wages in Tuesday’s UK labour market report, at a consensus 5.4 percent, are expected to cool slightly but more than justify the Bank of England’s decision to hold rates steady.
Marginal moderation is the call for US consumer prices on Wednesday, to a 3.4 percent rate overall and 3.6 percent for the ex-food ex-energy core. US retail sales on Wednesday and industrial production on Thursday are both expected to show limited gains.
Contraction is expected for Japan’s first estimate of first-quarter GDP on Thursday, pulled down by both consumer spending and business investment. Australia’s labour force report also on Thursday is expected to show a rebound in hiring.
The week closes with Chinese industrial production and retail sales on Friday; noticeable acceleration is expected for both.
Econoday
EURUSD Weekly
With Fibo Retracement levels and Trend lines
Just looking at the chart and trying to avoid being opinionated – as I usually preach…and it doesn’t matter what I wish to happen, or think that might happen, the pair on Weekly is showing me a Bullish Pattern – or at least that is how I see it.
For this 3 weeks move to continue Up it has to stay above 1.07300.
Any failure to do so, any weakness will turn this picture to fully Bearish.
But if 1.08150 first and then 1.08400 taken out, I will have to accept it and join the Bulls in buying it.
It is way easier for me to sell it anytime , and I have to fight myself when it comes to buying it…sometimes even the most obvious signals are not good enough for me.
We have some important data next week and of course we have to be ready for the unexpected.
AUDUSD DAILY CHART – WILL CONSULTATION BE BROKEN?
if you take a step back and a deep breath you will see that the AUSUSD has been consolidating within the broad .6269-.6869 range for the whole year-to-date
The range has been narrowed to .6361-.6667, so you can see why .6600 has become pivotal as a break of .6667 would out the .6869 level in play.
Looking at a 4-hour chart, there is a double top around .6644 and a key support at .6558
Trading Pit – Algo and Market news in real time…check it out
USDJPY 4 HOUR CHART – IF I WAS IN THE BOJ’S SHOES
I ask this question whenever I post about USDJPY, “If I was in the BoJ’s shoes, what would I do?”
I would look at technical levels and which ones I do not want to see trade.
The answer depends on what time frame chart I was looking at
On a 4-hour chart, there are 156.28, 157.98, and of course 160.16
On a daily chart, it is only 157.98 and 160.16
On the downside, the initial goal is to get USDJPY back below 155.
Tactics: Do nothing at least until mid-week and see what US data shows,
Otherwise, with technicals currently pointing up, 158 seems like the level I would not want to see trade.
By now you should agree that the reaction to news is more important than the news itself when it comes to trading. So let’s take the next step and see…
How to Trade By Taking Advantage of News Rather Than Letting News Take Advantage of You
How to Trade By Taking Advantage of News Rather Than Letting News Take Advantage of You
NVIDIA Weekly
Stock price ended at $898.78 on Friday, after gaining 1.27%.
The NVIDIA stock price gained 1.27% on the last trading day (Friday, 10th May 2024), rising from $887.47 to $898.78. During the last trading day the stock fluctuated 2.43% from a day low at $892.33 to a day high of $914.00. The price has been going up and down for this period, and there has been a 2.44% gain for the last 2 weeks. Volume fell on the last day by -4 million shares and in total, 33 million shares were bought and sold for approximately $29.86 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
TSLA Weekly
Tesla stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
The Tesla stock price fell by -2.04% on the last day (Friday, 10th May 2024) from $171.97 to $168.47. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.17% from a day low at $167.75 to a day high of $173.06. The price has fallen in 6 of the last 10 days but is still up by 0.11% over the past 2 weeks. Volume has increased on the last day by 6 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days.
EURUSD WEEKLY CHART – PREPARING FOR THE WEEK AHEAD
When you prepare for the week ahead you can start with a weekly chart to put the bigger picture in perspetive. I am using the EURISD weekly to illustrate I call it a checklist to prepare for the week ahead..
Write down the prior week’s range. (1.0724-91). These are the initial key levels to start the week.
Is there momentum in the weekly? (2 weeks of higher lows/highs so up momentum coming into this past week)
Was it a higher low or higher high or inside week? (inside week)
If an inside week, what was the previous weekly high? (1.0812)
What is the 4-week high or low (See The Four Week Trading Rule).
When you go through a checklist you will identify what the “real money” traders are looking at, identify the key levels and where there may be stops, determine whether there is momentum, and thereby prepare yourself for the week ahead no matter what time frame you are trading.
As I have said many times, udentifying the side toi trade is more than half the battle in being a successful trader.
Anyone trading this past week saw the reaction to a jump in US Weekly Jobless Claims, normally a low-impact data release. One would have thought it was the monthly employment report that just came out. With key data due out this week from the US, it pays to be reminded that>>>>
MARKETS REMAIN HYPER-SENSTIVE TO ECONOMIC DATA RELEASES SO HOLD ON TO YOUR SEAT BELTS NEXT WEEK WHEN US RETAIL SALES AND CPI WILL BE REPORTED… SEE DETAILED PREVIEWS IN THIS VERY POPULAR WEEK-AHEAD REPORT
I am THRILLED by this new development in use of AI
–
Alphafold 3 predicts the structure and interactions of all of life’s molecules
May 08, 2024
Introducing AlphaFold 3, a new AI model developed by Google DeepMind and Isomorphic Labs. By accurately predicting the structure of proteins, DNA, RNA, ligands and more, and how they interact, we hope it will transform our understanding of the biological world and drug discovery.
totally amazing and exiting application … instead of sometimes years of research down to literaly minutes
unusual incident
–
timesofisrael
“12 soldiers stung by wasp swarm after tank runs over nest in southern Gaza”
In unusual incident, Sheba Hospital admits 10 of the soldiers for treatment, with one sent to ICU, says some were stung by hundreds of the insects, but none in critical danger
Note to piece authors EMANUEL FABIAN and MICHAEL HOROVITZ
Actually not unusual at all. bees, wasps, scorpions and other insects have long history of military battle use from approximately medieval age to including current “modern” warfare.
OnlineBroker.Fr is the best resource for French language information on the best online trading platforms and crypto exchanges in France.
You may find this useful
What is Risk Management in Trading – Forex Forum
For any trader, managing risk is essential to success. But what exactly is risk management? In this blog post, we’ll explore what risk management is and how it can help you become a successful trader.
We’ll also look at some common mistakes that traders make when it comes to managing their risks. After all, if you’re not managing risk appropriately, you’re just a gambler. So if you’re ready to learn more about risk management, read on!
What is Risk Management in Trading?
Risk management is the process of assessing, controlling, and managing risk within a trading portfolio. This involves defining trading goals and understanding potential losses that could occur as part of the trading process.
It also includes identifying potential risks, such as market volatility or sudden changes in the market, understanding how these risks can affect your profits, and taking steps to limit potential losses.
In general, risk management should be a priority for all traders. By properly managing your risks and using effective strategies, you can minimize potential losses and increase the chances of making successful trades.
Common Mistakes When Managing Risk in Trading
Unfortunately, many traders make mistakes when it comes to managing their risks. Here are some of the most common mistakes that traders make when it comes to risk management:
Not Setting a Trading Plan:
Many traders don’t have a detailed trading plan, which is a key component of risk management. Without a trading plan, traders are more likely to take risks that could have otherwise been avoided. It’s important to establish clear trading goals and a plan for how to reach those goals.
Not Understanding Risk:
Many traders fail to understand the risks associated with certain trades, which can lead to serious losses if they don’t take the time to research and understand the risks involved. It’s important to have a thorough understanding of the markets you’re trading in before taking any risks.
Not Taking Advantage of Stop Losses:
Stop losses are an essential component of risk management, as they help to limit potential losses in the event of a market downturn or sudden changes in the market. However, many traders don’t take advantage of stop losses and end up taking larger risks than necessary.
Over-Trading:
Over-trading is a common mistake made by many traders. This involves taking too many trades, which can lead to losses if the market turns against you. Look, all traders love the price action. It’s exciting to take a position and watch your P/L go up and down. But don’t become addicted to the price action for the sake of just having a position. It’s important to only take trades when the setup is right and avoid over trading.
Not Diversifying Risk:
Diversification is another important part of risk management. By diversifying your trades, you can spread out risk and limit potential losses if the market turns against you.
Why is Risk Management Important in Trading?
Risk management is a critical factor in success when trading in the markets. It involves understanding and controlling what could potentially impact your trades and actively analyzing scenarios that may occur.
Without proper risk management, traders are leaving themselves vulnerable to potential losses which could be catastrophic for their investments.
Good risk management also allows traders to effectively assess opportunities and make better decisions that take into account volatility or leading indicators of future market performance.
Simply put, risk management can provide peace of mind so traders can enjoy the highs of profitable investments while minimizing losses when markets start to dip.
What are Some Common Risk Management Strategies?
Common risk management strategies used by traders include setting stop-loss orders, limiting capital exposure, and diversifying investments to minimize volatility.
Another essential approach for traders is to set predetermined targets for both profits and losses to help stabilize your exposure. To further limit potential losses and maximize gains, traders should always be aware of economic news and other world events that might affect the market.
How to Implement Risk Management in your Trading Plan
Implementing effective risk management into your trading plan is incredibly important for successful and profitable trading. It can help you to control the amount of draws you take in any given trade, and it can also protect against large losses which could potentially wipe out your entire trading account.
A good risk management plan should include determining the amount of capital at risk on each trade, setting predetermined stop-losses to limit downside exposure, and having a strict, disciplined approach towards minimizing losses:
never increasing position size
never risking more than you are comfortable with, and always controlling potential risk-reward ratios.
Taking the time to set up a comprehensive yet flexible risk management plan will put you in a better position when it comes to positive returns in the long run.
Risk management is an important part of trading. It allows you to trade with less stress and more confidence. There are many different risk management strategies, so it is important to find one that fits your trading style.
Proper risk management can help you make money in the long run by preserving your capital and preventing you from making careless mistakes.
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