Hello traders
I did mention in my last idea that I have sidelined the markets but volatility can be very profitable if the correct levels are in play.
My entry buy order was filled at the weekly high of 1.0889.
I took profit at the 0.786 fib at 1.0990 and switched to a short.
However, I will reverse again if 1.0954 holds during this session.
My take is simply, how much worse can these tariffs get? The market backlash has been severe. Will the administration amp up the threats? Possible but unlikely. Even Republicans are finally speaking out against the future damage inflicted on the economy.
We are faced with a plethora of contradicting elements. The job market was still strong in March even with unemployment ticking up. But let's see what April brings.
I am still keeping my eye on DXY, US 10Y T-note and US 10Y yield. My sense is that the markets are losing confidence in the USA and USD.
I have never made a secret of the fact that I do intraday scalping. Be assured, I am not marrying any of these trades.
Best of luck.
I did mention in my last idea that I have sidelined the markets but volatility can be very profitable if the correct levels are in play.
My entry buy order was filled at the weekly high of 1.0889.
I took profit at the 0.786 fib at 1.0990 and switched to a short.
However, I will reverse again if 1.0954 holds during this session.
My take is simply, how much worse can these tariffs get? The market backlash has been severe. Will the administration amp up the threats? Possible but unlikely. Even Republicans are finally speaking out against the future damage inflicted on the economy.
We are faced with a plethora of contradicting elements. The job market was still strong in March even with unemployment ticking up. But let's see what April brings.
I am still keeping my eye on DXY, US 10Y T-note and US 10Y yield. My sense is that the markets are losing confidence in the USA and USD.
I have never made a secret of the fact that I do intraday scalping. Be assured, I am not marrying any of these trades.
Best of luck.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.