1. - Double top bearish reversal pattern formed - Neckline @ ~ 19.46 - Currently neckline is being broken, if next 4h candlestick closes below I will go short
FUNDAMENTALS:
- Three high volatility news items today for USD - Average Hourly Earnings , Non-Farm Employment Change + Unemployment Rate - Could provide a lot of volatility for USD pairs + commodities so trade with care - As well as this geopolitical tensions are increasing with Trump "firing the first shot" in the trade war with China today at 12pm EST. - If this were to escalate further could prove very bearish for US dollar.
Perfect example of a Head and Shoulders Reversal Signal. Awesome, keep up the good idea's.
The only thing I disagree with is your statement (trade war with China today at 12pm EST) there is no trade war, the West is trying to recovery the jobs they lost when China undercut the price to manufacture products so they (China) could supply jobs for there people. Now the Western world wants there jobs back. China has almost killed the manufacturing sector around the world and they now are feeling the pressure from other countries around the world (like the USA) wanting there jobs back for there people. Countries around the world are starting to realize the effects that impact there own country from China's underhanded tactics to take manufacturing away from them.
Home grown companies need to take a long hard look at themselves for transferring manufacturing oversea's just to gain more profit (it can kill you own countries economy). It's a well known fact that China's has stolen many companies intellectual property rights, copyrights and has no respect to the ownership of these laws (They Do Not Respect Our Western Laws). China want's every country to rely on them for supply and demand, and it is all driven by greed. China wants to be the number one economy in the world without any regards to the affects it have on another countries economy, they are already using underhanded tactics with poorer surrounding countries when they lend them huge amounts of money knowing that the poor country has no-way of ever paying it back, just take a look at the Asian countries economies surrounding China, there manufacturing is almost decimated. When the poor countries economy collapses, China demands control of ports and other facilities like (Power, Water, Real Estate) for payment of the debt. When they gain control of a port they immediately send in construction team to re-build the port so it is capable of handling war ships docking at the port. It's a well known fact.
I applaud the USA for taking the necessary steps to regain there manufacturing jobs they once "OWNED".
FTE1995
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@MAS-Trading, Cheers for the comment. Im still fairly new to trading so dont know the ins and outs of the economy. When I said "trade war" I was just using the rhetoric used by the media at the moment.
I completely agree with your view though, from what I have read so-far your spot on, similar to the situation in the south china sea where they set up the military outpost right? Need to read up on it a bit more but once again cheers for the comment. Always nice to hear other thoughts/viewpoints,
The only thing I disagree with is your statement (trade war with China today at 12pm EST) there is no trade war, the West is trying to recovery the jobs they lost when China undercut the price to manufacture products so they (China) could supply jobs for there people. Now the Western world wants there jobs back. China has almost killed the manufacturing sector around the world and they now are feeling the pressure from other countries around the world (like the USA) wanting there jobs back for there people. Countries around the world are starting to realize the effects that impact there own country from China's underhanded tactics to take manufacturing away from them.
Home grown companies need to take a long hard look at themselves for transferring manufacturing oversea's just to gain more profit (it can kill you own countries economy). It's a well known fact that China's has stolen many companies intellectual property rights, copyrights and has no respect to the ownership of these laws (They Do Not Respect Our Western Laws). China want's every country to rely on them for supply and demand, and it is all driven by greed. China wants to be the number one economy in the world without any regards to the affects it have on another countries economy, they are already using underhanded tactics with poorer surrounding countries when they lend them huge amounts of money knowing that the poor country has no-way of ever paying it back, just take a look at the Asian countries economies surrounding China, there manufacturing is almost decimated. When the poor countries economy collapses, China demands control of ports and other facilities like (Power, Water, Real Estate) for payment of the debt. When they gain control of a port they immediately send in construction team to re-build the port so it is capable of handling war ships docking at the port. It's a well known fact.
I applaud the USA for taking the necessary steps to regain there manufacturing jobs they once "OWNED".