Dear friends, while everyone in the world discusses shocking results of presidential elections in the US, you can participate in a trading contest Presidential Race.
Today all traders are busy creating their teams as Monday is the time to get to the starting line and stand against your long-time opponents or meet the new ones. Taking into account previous trading battles, we can conclude that this event should be spectacular and fascinating.
The calendar shows November 1. It means the time is ripe to sum up trading results for the previous month. Before I unveil my statement, let’s recall the biggest market moves in October. The GBP/USD pair was again under the spotlight. In early October, the pair broke out support at 1.3000 and tumbled to the record low of 1.2000. Interestingly, the pair hit the bottom during night trade, when an hourly candlestick was in the range from 600 to 1,200 pips on different trading floors.
The long-awaited presidential election in the US is just 10 days away and tensions between nominees are mounting. Each side tries to strengthen its positions and shake the opponent, sometimes resorting to dirty political tricks. In particular, the FBI announced Friday that it will expand its investigation into Democratic candidate Hillary Clinton’s personal server use. If the FBI does find some criminal wrongdoing, political uncertainty in the US will rise affecting the greenback.
Last week, natural gas (#NG) reached the targeted take profit level (3.05) that was calculated in strict compliance with the rules of the Head and Shoulders pattern we can see on the H1 chart. Partial closure of the bullish stop orders below the local low of 3.16 gave an opportunity to the bears to continue pushing prices for gas lower and lower. As we chose the direction of future trading, and now, we need to be exact with the entry and exit points.
Some key economic events are expectedtoday that can have a significant impact on the EUR/USD pair.
14:45 – ECB deposit rate decision; 14:45 – ECB key rate decision; 15:30 – US initial jobless claims; 15:30 – ECB press conference.Traders who try to avoid high volatility are recommended to stand aside and watch the developments. But those who feel at home in the volatile market should attempt to foresee further movement of the euro/dollar pair with the help of technical analysis. Today we are going to apply patterns, levels, candlestick reversal patterns, and bullish divergences.
Dear friends, today we continue to talk about the Fibonacci Retracement. In this lesson we will explore the trend trading technique that requires application of this tool. As early as in the beginning of the 20th century, Jesse Livermore said that “prices are never too high for you to begin buying or too low to begin selling.” We all saw how this statement came true over the past few weeks in GBP/USD chart. But do not forget that any trend ends sooner or later. Therefore, if you do not want to turn from a speculator into a long-term investor, you should observe the rules of money and risk management in trend-following techniques.
Today the USD/CAD pair finally started declining within the Bearish Wolfe wave on daily time frames and the Wedge reversal pattern on the four-hour time frame. On Friday, a sell deal was opened, but due to a slight over-high I had to correct targeted take profit levels. After reading the post, you’ll find out how you can blend different time intervals and patterns for more accurate market entry and for lowering the stop loss level.
It’s been three months already since David Cameron resigned as the UK Prime Minister. His resignation was triggered by Britain’s vote to leave the European Union and the following 20% slump in the national currency. The funny thing is that Cameron himself was the catalyst forBrexit, using it to threaten the EU and make verbal interventions. And, as far as I can see, new Premier Theresa May decided not to reinvent a wheel and instead adopted Cameron’s ways of manipulating the GBP/USD dynamic.
Dear friends! Another trading period has come to an end and I’m going to sum up my results for September 2016. This month witnessed lots of significant events that had a strong impact on the market. However, most trading instruments have still been showing us the same sideways movement we saw after Britain’s vote to leave the European Union. The EUR/USD pair stands out most of all, moving in a 200-pip range throughout September. Despite the fact that the market repeated the August dynamics scenario, profits rose fourfold to $1,486 this month.
Dear colleagues, please be aware ofhigher volatility for most trading instruments from Wednesday September 21, 2016. Policy meetings of three central banks are main market movers in the nearest two days. Tomorrow morning, the Bank of Japan is due to post the monetary policy statement. Later, the US Federal Reserve is to announce a rate decision. Analysts assume there is a slim chance (12%) that the US regulator will raise the funds rate. So traders are alert to a speech by the US Fed Chair. Market participants will be looking for clues from Janet Yellen about a timing of rate hikes, which will determine a medium-term trend for the US dollar.
