Trading Club
To Join Click
HERE
Forex Forum
Forex Trading Blog
Economic Data Calendar
Forex Trading Tools
Trading Tips
Forex Forum
Forex Trading Blog
Economic Data Calendar
Forex Trading Tools
Trading Tips
Forex Forum & Blog is the place where traders can exchange their Ideas, give Trading Tips and ask for Help when needed. Forex Blog with Daily Updates is a growing library of everything one might need to succesfully trade.
The First Online Forex Trading Forum
Our friends @GTWO3 remain of the opinion that March futures are bullish under 1.0750, as price decline from 12/28 high is longs liquidating, not new sellers
EURUSD – looking at the chart bellow, and in my own station, I have to admit that time wise – Rule of Thumb – there is a chance for the pair to break Up and change two months old trend ( Daily chart)
I am pretty sure that the solution will present itself after today’s data.
But what I also see is the fact that on the Monthly chart, the pattern suggests that we are in the early stages of a New Downtrend creation, that if comes through will open the road for as low as 0.75 area…Lots , I know…
Of course this is not helping in our daily trades, but just wanted to shine some light on the issue.
What I know for sure ( from the experience ) is that we can break above that downtrend line, even spend some time above 1.08 , but if that happens , 1.09450 will come up as a next level for unloading the EUR….and then we’ll all see clear downtrend forming .
Focus on US Data next
PPI
Housing Starts
Univ of Mich Consumer Sentiment (and inflation expectations)
Fed officials speaking
See our Economic Calendar
To add a few more lines to the picture usd/cad looks like range. Trapped between the upward sloping trendline as resistance and the 200 period mov avg (the yellow line) which it seems to show a good degree of respect for. The upward sloping nature of everything leaves me biased towards upside. Until it’s not (below yellow line)…
USDCAD Swings Lower: Range Trading or Downtrend Resumption?
USDCAD has experienced some volatility recently, breaking above resistance, pulling back, and now testing support. Let’s analyze the technicals to understand what this means for the pair’s near-term direction.
From Breakout to Range Trading?
Resistance Breached: USDCAD initially broke above the key resistance level of 1.3543, suggesting potential upside.
Pullback and Support Test: However, the pair has since pulled back and broken below the 1.3510 support level.
Range Trading Possibility: This price action suggests a potential range trading scenario between 1.3358 and 1.3585.
Further Downside or Bounce in Sight?
Next Support Level: If the downtrend continues, the next potential support level to watch is 1.3412.
Breakdown Implications: A breakdown below 1.3412 could signal a resumption of the downtrend from 1.3176, with targets at the key support of 1.3358 and potentially even lower at 1.3300 and 1.3176.
Hope for Upside Rebound?
Initial Resistance: If the sellers lose momentum and buyers step in, the initial hurdle to overcome is the 1.3520 resistance level.
Upside Potential: Reclaiming this level could trigger a retest of the previous resistance at 1.3585.
Overall Sentiment
The technical picture is mixed for USDCAD. While the breakdown below 1.3510 suggests potential downside, the possibility of range trading within a defined range cannot be ruled out. Monitoring the price action around the mentioned support and resistance levels will be crucial to confirm 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.
Forex Forum
Forex Forum & Blog
Forex Forum & Blog – Place where you can exchange your views on Forex Trading and Trading in General – Follow Daily developments on every single market around , including Stocks, Indices, Crypto, Metals…..Get tips and help that you need.
Forex Forum & Blog for all traders
Forex Forum & Blog for all traders
Forex Forum & Blog
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
Forex Forum & Blog
Forex Forum & Blog
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.
Forex Forum & Blog
© 2024 Global View