EURGBP Daily Chart (correcting or end of trend>)
Those who have followed me over the years have seen me say you can’t trade EURUSD or GBPUSD without keeping an eye on EURGBP. The move up in this cross is behind some of the demand for EURUSD while GBPUSD struggles on the upside.
As the chart shows, EURGBP has bounced off a test of .8500 *just below( and is currently trying to establish above,8575, which would expose .8592-.8620 as the last leg down is negated.
On the downside, it needs to hold .8532 to keep the bid but .8570+ for the string bid.
A look at the day ahead in European and global markets from Tom Westbrook
Europe’s central bank has singled out wages as the single biggest risk to its crusade to contain inflation. Fourth-quarter negotiated wages data likely headlines the trading day.
USDCHF Analysis: Uptrend Continues, Resistance and Support Levels
The USDCHF pair is currently above a rising trend line on its 4-hour chart, indicating that the pair remains in an uptrend from 0.8550.
As long as the trend line support holds, the pullback from 0.8885 could be seen as consolidation for the uptrend. A breakthrough of the 0.8845 resistance level could trigger another rise to test the 0.8885 resistance level. A breakthrough of this level would aim for the 0.9000 area.
The key support level is located at 0.8782. Only a breakdown below this level would indicate that the upside move has completed at the 0.8885 resistance level already. In this case, the pair would find next support at around the 0.8650 area.
ROFL …. please someone tell me
that there is no co-ordination, that I am a hallucinating conspirationalist:
–
Summers: “Meaningful Chance” That Fed Might Hike Rates
YouTube · Bloomberg Television 3 days ago
Rate Hike May Be Fed’s Next Move If Growth Picks Up
4 days ago — (Bloomberg) — The Federal Reserve’s next interest-rate move could be a hike — rather than a cut — if the US economy reaccelerates …
USDCAD 4-Hour Cgart
Why am I posting a USDCAD chart?
There is a very light economic calendar on Tuesday except for Canada CPI.
Looking at this chart, there is a broad range near 1.34-1.36 (1.3412-1.3585)
So it is no wonder the pair keeps gravitating towards the 1,35 midpoint.
Rising trendline offset by falling resistance lines (blue).
Whatever the case, expect some volatility around the CA inflation report but only a break of 1.34-1.36 would be significant/
Visit our Economic Calendar
The pair got itself in the triangle , with clear Resistance at 1.07850 and Support at 1.07600
Buying above Res and selling bellow Supp is an easy deal…but you have to implement S/L in the right place
If Selling, S/L above 1.08000
If Buying S/L bellow 1.07500
Calculate your stop and multiple it with at least 1:3 – that should be your desired profit
Re : Inflation – isn’t it clear that politicians are playing in line with the public opinion ( at least on the surface and in wording) , and two types of public are in the play :
Your ordinary Joe , that suffers under the weight of increased prices for basic needs – he needs to hear that rates are going to go down, which for him means same as : Prices will go down….and that is a pure crap….better tomorrow…similar to religions offering it in the afterlife.
Second group is made of so called “experts” , and those are mostly mediocre , running on the wave of past performance and constant need for things to change every now and then…or ffs how they gonna be able to give interviews, be so clever and smile into the camera…and of course, most of them would like to be Loved by the public…so similar to politicians…
Reality is that Inflation is here to stay for unforeseeable period – even if all the reasons behind it are dealt with, some new ones are not only coming, but are promised – like electrical vehicles, ONLY…how is that going to reflect on prices of transportation, logistics, and then spill over all the sectors of industry, trade, services…who’s gonna pay for that..Von der Layen , Biden, Chancellor Olaf Scholz …naaah…don’t think so…
Also, trying to base our expectations on those of the market players might only screw us up….
Watch your charts, your 6 and keep your head above the water and out of the box 😀
while waiting for one side to stomp over the other
some boredom relief : a Waffle Stomp – Joe Walsh
at thy discretion
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.
© 2024 Global View