The trend is about to end with interesting upcoming news events.
Through my trading journey, I have come to realize that whenever there's an upcoming news events, especially the important ones. Normally, they tend to be announced during the end of the trend. Once announced, the market tends to settle down for few days hence accumulation/distribution( ranging period) and then, it will either change the direction or resume back to its original direction.
For instance, tomorrow and Friday we have an important news events regarding US dollars. The unemployment claim and GDP numbers; And we already know that the market is bearish. It is been falling for 7 days consecutively. I will expect this week to settle down at specific levels.
Let's review retail traders issues; When the news is good or bad, we see a big candle and we either jump in straight or wait with fear of missing out. For those who got in, will experience a shake out if the market is going against them and they will probably hold on to the position until it comes back to their entry point or hope to go in their anticipated target which most of the time never happens. I have experienced this scenarios. I am sure you have too. All in all my point is; lets all try to manage our emotions, after-all we have power to control our minds. It is basically mind over matter.
Anyway the market is still bearish and I will expect the news events to push it further down for me for suitable entries. I personally looking to go long so I will sit back and wait. Stay tuned for an update of entry levels.
Good luck and Happy Trading :)
For instance, tomorrow and Friday we have an important news events regarding US dollars. The unemployment claim and GDP numbers; And we already know that the market is bearish. It is been falling for 7 days consecutively. I will expect this week to settle down at specific levels.
Let's review retail traders issues; When the news is good or bad, we see a big candle and we either jump in straight or wait with fear of missing out. For those who got in, will experience a shake out if the market is going against them and they will probably hold on to the position until it comes back to their entry point or hope to go in their anticipated target which most of the time never happens. I have experienced this scenarios. I am sure you have too. All in all my point is; lets all try to manage our emotions, after-all we have power to control our minds. It is basically mind over matter.
Anyway the market is still bearish and I will expect the news events to push it further down for me for suitable entries. I personally looking to go long so I will sit back and wait. Stay tuned for an update of entry levels.
Good luck and Happy Trading :)