For those of us who like to play around a bit with crosses, Nok/Jpy moves a little slower than other pairs and appears to be targeting 14.35 again. Bias has been decidedly buy side in the prior 10 days, any declines have not pierced outer range pivots but have been compromising upside key value areas and, 14.35 is one of them. Any price activity from 14.32 is likely to pull back today/overnight in our model.
Hi Bobby, top of the day to you. I do not believe it will make it that low, more likely 0820+ area on a decline and not strong odds it makes it there. Going with market behavior which at present appears to be the market finding a balance in this area until we have events/data that would move things.
DLRx 103.68
basiCALLY PUPPY is has an ambivalent relationship with traders they love it but don’t like it.
meaning … that the pup has, at least sofar, limited upside potential
unless some monster reason driver pops on the scene.
10:00nyt – new home sales
10:30nyt – dallas fed manuf index
13:00nyt – 5yr paper auction
A look at the day ahead in U.S. and global markets from Mike Dolan
Chastened interest rates markets are now inclined to doubt there will be any U.S. monetary easing in the first half of this year, prompting a minor stepback in record high stock indexes into a new week dominated by the latest critical inflation update.
Morning Bid: Booming stocks step back as PCE hoves into view
EURUSD Intraday
1.08600 – 1.08800 Resistance zone
Supports are at 1.08400 and 1.08350
We have two highs up there, with the later one a bit lower….does it mean something ?? Not necessarily – it all depends on next few hours – if we start a correction from here, it might be able to surmount the highs and continue it’s Up move. Otherwise it might just run out of steam .
One idea can be Buying it in 1.08350/400 area with the Stop just below 300 , for the test of previous highs…so risking 5 pips for possible 30-40. Problem is the time and lack of any serious data today…nothing to move it sharply…
USDJPY: Stuck in Limbo – Uptrend Consolidation or Downturn Signal?
USDJPY has been stuck in neutral territory, oscillating within a trading range between 149.52 and 150.88. This sideways movement leaves the near-term direction unclear, prompting questions about whether it’s a pause within the uptrend or a sign of a potential reversal. Let’s delve into the key support and resistance levels to understand the possible scenarios.
Uptrend on Hold? Sideways Consolidation as a Signal
149.52 Support: The Bullish Anchor: As long as the price remains above this crucial support level, the uptrend initiated at 145.89 remains valid. This suggests the current sideways movement could be a healthy consolidation phase within the ongoing uptrend.
Breakout Potential: If the bulls manage to accumulate enough strength and push the price above the 150.88 resistance level, it could signal a breakout from the range and trigger a further rise towards the 151.90 resistance, potentially solidifying the uptrend.
Downturn Signals: Watching the Support Crack
149.52 Breach: A Reversal Indicator: A breakdown below the 149.52 support level would be a significant development, potentially indicating a completion of the uptrend from 145.89. This could lead to a decline towards the next support zone around 148.80, marking a potential trend reversal.
Overall Sentiment:
The current technical picture for USDJPY presents conflicting signals. The sideways movement creates uncertainty, leaving the near-term direction unclear. While holding above 149.52 and breaking above 150.88 suggest potential bullish continuation, a breakdown below support could signal a trend reversal and further decline. Monitoring the price action around the mentioned support and resistance levels will be crucial in determining the pair’s next move.
Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Please conduct your own research before making any trading decisions.
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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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