Here's a brief market recap of what happened throughout the NY trading session in the currency market.
Hard to tell at this point what to really expect for later this week but I mention several scenarios in this video to prepare yourselves for some possible movements.
As Bitcoin continues to trade within it's confined range of consolidation, it's a safe idea to scale back on any open positions as we head into the unemployment data from the US this morning.
Yesterday BTCUSD rallied based on an optimistic speculative sentiment where traders added to their risk appetite from positive ISM and ADP figures.
Here's a quick update regarding developments with EURUSD.
Unemployment Rate for May up to 7.4% from April at 7.3%
All eyes are on the US jobs data this morning. We already have some economic recovery optimism priced into sentiment. A disappointment in the jobs data could weaken the equity market and thus add strength to the greenback.
I had some questions recently asking me to explain leverage and margin so that's exactly what I'm explaining in today's video.
Feel free to drop a comment below if you have any questions.
Just waiting for EURGBP to make a higher high on the 1 hour timeframe to consider entering a long position. When analyzing GBPUSD, it looks like that pair wants to retrace shortly. At that point I would expect to see some strength with EURGBP.
Earlier I posted a trade setup with this pair. Trade went through. When I first analyzed the pair my initial sell stop was placed at 107.60 but I price action continued to move north which gave me a better entry price at 107.68.
Currently holding onto a profitable trade. For good risk management purposes, stop loss is now moved to breakeven....
The EURJPY short trade was executed @ 120.97 once price action made a clear lower low on the 1 hour timeframe. Now looking to hold this position until price action makes it's first higher high.
Overall the look and feel of this pair is bearish. There's still alot more red on the screen and when taking everything into consideration with the possibility of a second wave + we Brexit in the later part of the year, I wouldn't expect this pair to really rally to the upside much further, leaving the downside well exposed to risk in the days ahead.
Let me know...
This morning I'm looking at a possible short selling opportunity with EURJPY but I would like everyone's input. I'm trying to establish if this is a decent risk to reward sell trade. I know the odds of the trade are more likely in my favor but I'm wondering if I should increase my target or even execute this trade at all.
Let me know what you guys...
In today's lecture I'm explaining the importance of monitoring correlating assets to help give us early clues about the major asset we're looking to trade.
When trading EURUSD, I like to look at 6 correlating assets. They are as follows:
I hope you find this video to be informative and educational to allow you to add...
This video explains how I use RSI to generate big returns in the Forex market. RSI has always been one of my favorite leading indicators I use when looking for confirmations. I highly recommend it. Take a few minutes to watch my video and learn how to use it effectively for intraday trading.
Trade Safe - Trade Well
In the previous video I explained how to use Moving Averages which are used in the Stochastics Indicator. Stochastics was originally designed to let us know if the market has reached overbought or oversold conditions. This video explains how to use Stochastics and how to adjust the settings to uncover some potentially better settings. As of now,...
In today's lecture I'm explaining how to use Moving Averages effectively on smaller (1hour) time-frames. Moving Averages can be applied to all assets including Forex, Stocks, Crytpos, etc..
Please note that Moving Averages are a lagging indicator which means they print on screen after price action has moved. They by no means are a leading...