ProdigyTrading

ProdigyTrading

Last week was another hot week in the markets. Continued Dollar weakness pushed its major counterparts to the upside. During the week we did see some confusion, especially with NZD as there was no real direction. This usually happens after a massive break to the upside once price has consolidated for a while. The build up before the big break are the institutions...

ProdigyTrading

Today we saw a very strong breakout. I had a losing day today due to the indecision in the markets and the failure on my part to recognise that and get out of the market. I'm not too sure what the catalyst was to have pushed GBPUSD above its resistance level, but it has lined us up for a lovely long opportunity. Tip: Always make note of current market...

ProdigyTrading

For new and inexperienced traders, seeing the harsh sell off this morning on Gold would probably have put their minds set on going short. But for the more experienced and knowledgable traders out there, this is a great time to go long on Gold. Gold is a safe haven asset that investors turn to when they feel their money is not safe, they buy gold as a secure long...

ProdigyTrading Updated 

Last week we saw some confusion in the markets with GBP, if any of you were short like I was you'd feel a litter bit confused as to why price moved the way it did. If you could see we had consolidated early, you would have been the lucky ones. This week however we have opened with a very different story. With the EU talks about the recovery plan for Covid-19 and...