So here's a full breakdown of how market sentiment affects Trading, especially now and what to do now we find ourselves with a retracement move.
Firstly it is your job to DETERMINE where prices have value in the market. Where can you get a good deal ya know... that's what we all like.
Trading is absolutely no different. Prices fluctuate in the market and we are looking for the same level of deals as normal (buying high and selling low).
Without Market News and Tracking you will be unaware of the state of anything that is going on and you will be taking trades perhaps sometimes when you should/should not in the wrong size. Remember, it's healthy to vary this at all times.
For USD pairs, we saw them get dragged into the dirt way way down until they were shouting for it to stop. You now have a rise which you have anticipated and can handle (after watching this).
It is time to swap your bias. The market has changed. The value has changed and your direction must too. Take note of sentiment (USD losing value Faster) and change your risk appetite accordingly.
Short Bias remains as we reach core resistance. This is the same across the board as shown in the above video.
As always, Trade small, Trade safe.
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exit first Shorts at area mentioned
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RE shorted again
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Out on another great fall. Gains taken.
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Further fall exit again look to re short higher
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So a great trading lesson learnt; the viciousness of any fall is related to MS and can be ANTICIPATED ~ very important
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fall even further Take those gains!
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Many falls and rises and many gains taken.
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Hold off longs until early Circa 1.18
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Looking for impetus this week with standard red/yellow signs.
Also NOTE brexit news.
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Hold off longs until 1.18
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Get short 1.211 for early exit gains. Drifting Downwards channel with low impetus.
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Do not buy unless we get dramatic falls. Do not sell unless we get dramatic rises.
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Exit any longs look for scaled in light longs towards Ultimate 1.17
ya but GBPUSD doesnt seems to pull back, i think GBPUSD gone up too far and too fast, but market seems to ok with that
WillSebastian
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@paymok, fell to 1.209 already, as mentioned On the video the reason why the market is ok with it is because of market sentiment being so strong for USD weakness
paymok
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@WillSebastian, there is a strong FOMO keep trying to push price back to 1.2100, looks like formation for another strong push next monday
WillSebastian
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@paymok, if sentiment persists then it may but risk plan remains the same
paymok
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@WillSebastian, totally agree here. uk fudemental still looks bad compare to 3 months before, dont think its worth that high.
WillSebastian
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@paymok, mainly affected by the USD at the moment VS UK Sentiment but yes not expecting extreme rally as we are slightly still in the woods
ddpronald.artienda
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Thanks for commening about adding news to our trading
WillSebastian
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@ddpronald.artienda, no problem, make sure you do it’s real important !