CHFJPYAs you can see the mention area on chfjpy at the Top (146.200) could not hold and its ready to fall around 142.300 or so.
(its not a trade advice)
CPI
BTC UPDATETwo scenarious to look out for...
if the bulls take the horn we would see a recovery to test the 200 days moving average at around 23.3k.
otherwise a breakdown would cost us another long wick down to 21.6k
🚨IMP Event to Watch in March 📈
- US CPI release on March 14th
- FOMC meeting on March 22nd
In the picture is also the Mt. Gox event. The distribution of funds to creditors of the defunct crypto exchange is set to kick off on March 10, 2023.
Whats your perspective? do you think the bulls or bears would have more control over the market, cosidering these events and the overview market sentiment?
DXY:A Temporary push to upsides as Yields riseHey Traders, today we have noticed a temporary push to upsides as treasury Yields near 5%, but that will not be enough to push DXY above the major trend again as we see the price have rejected the retrace zone along with the double top. so we expect that USD will resume the downsides and remain indecisive until the release of CPI so the market will have a more clear idea on Fed next actions. if CPI numbers are high that won't make fed happy so we'll expect further rate hikes and more of USD strength.. in the opposite sense if CPI numbers come low we can expect more of a weak dollar and less restrictive monetary Policy.
Trade safe, Joe.
BITCOIN: 29K OR 21K ? Would you buy or sell in this position? Bitcoin seems to be wanting 29k more than ever after this strong impulse to the upside! but bears might have something else to say at this resistance zone, who will win?
We will be watching closely how price reacts at these levels, once market shows a clear move direction I will consider taking a position and share details in here.
Follow for updates!
Sweet Divergence Since the start of January, most leading macro markets have experienced a reversal around their 38.2% Fibonacci retracement levels. However, BTC has shown resilience and fought the cross-asset sell-off. This divergence is likely driven by the fact that there has been over $1 trillion in net liquidity added to the market since the bottom in October, primarily driven by the People's Bank of China and the Bank of Japan, helping to off-set the damage the Fed is doing to risk-on assets such as the crypto market. Considering BTC tends to be somewhat of a liquidity sponge, it tends to outperform other assets when there is a boost in liquidity. However, the jury is still out on whether BTC's performance indicates the end of the bear market for crypto or a temporary outlier. Despite BTC's recent outperformance, it's still catching up to significant rallies in other markets between Q4 2022 and Q1 2023. An important note is that the S&P 500 has never seen a bear market bottom before the unemployment rate began to rise, and this is yet to be the case. Furthermore, the yield curve is currently the most deeply inverted it has been since the 1980s, ultimately signalling that long-term interest rates are lower than short-term interest rates. An inverted yield curve has been a perfect predictor of the last seven recessions since 1960, ultimately implying that it's likely the market isn't out of the woods yet.
When yields and risk assets diverge, historical patterns suggest that other assets quickly catch up to the sell-off. Although yields have moved exponentially since last month's CPI data, markets expect them to stabilize at last year's high levels. It would likely take very hot inflation data and a significant rate hike following the next FOMC meeting on the 22nd of March to trigger the next leg lower for risk assets. Until then, BTC is expected to continue ranging, waiting for its next cue.
In other news, a recent article by Forbes threw Binance into the fire after they released an alleged hit piece on the exchange and its founder, Changpeng Zhao (CZ). The article drew parallels between the exchange and the now-defunct FTX after Binance allegedly transferred $1.8 billion to hedge funds such as Tron, Amber Group and Alameda Research between August and December 2022. However, CZ then hit back at this, arguing that the article referred to some old transactions from Binance's clients. He then reiterated that the exchange always holds user funds 1:1 and that this can be referenced through Binance's proof-of-reserve system.
From a technical perspective, it is clear from the weekly chart that Bitcoin has been trading between two significant demand and supply zones. The bulls will be hoping for a weekly close above the $25,000 supply zone, which would light the way towards the massive $28,800 to $30,000 resistance, the Head and Shoulders neckline. An important contributor to the bullish scenario is that EMA20 and EMA200 are beginning to converge, with a potential cross in the coming weeks. The importance of this should be considered, as EMA20 crossing below EMA200 back in September accurately predicted short-term market direction. Bears will rejoice at the fact that many traders believe that a final Elliot Wave 5 sell-off is to come. This would likely result in a break below the $15,500 - $16,500 November market bottom.
As we advance, all eyes will be on the CPI data releases. U.S. CPI data on the 14th will likely dictate the outcome of the rate decision of the FOMC on the 22nd. Volatility will be high around these dates, so caution should certainly be exercised, especially in leveraged positions.
Delayed bottom may finally arrive with CPI reportI have been waiting over a month for the reversal to finally complete. We are clearly on the path, but still need a few more things to occur to confirm that we are still in Primary wave B, but that it is near completion. IF we are still in Primary B (blue letters), we are likely in Intermediate wave C (purple letters) and Minor wave 3 (yellow numbers) was possibly completed with the with low early this morning. Next steps would be Minor wave 4 up and then Minor wave 5 down which completes the two macro waves (Intermediate and Primary) above it as well.
Minor wave 4 should only last 1-2 days with a top below 4000. Target top is around 3982 by either tomorrow or Monday. We should then continue the final leg down with a drop of at least 130 points before March 16 and closer to March 14.
I have use wave extensions based on historical data to attempt to determine these reversal points. The most narrow and smaller set of data is the probably Minor wave 4 retracement points. While the top could go above 4000, it most likely would not surpass 4053. The short timeline and lack of game-changing information will likely limit a powerful upside burst above 4000.
The next set of extensions attempt to identify the end of Intermediate wave C based on the data for Intermediate waves A and B. This is the left most set of extensions that are at the top and bottom of the chart. Typically Intermediate wave C extends beyond 127.13% of Intermediate wave A, however, that move seems quite significant in the likely short period of time that remains. The bottom should move below 3764 which was the prior low from the end of December, but nothing more is required to closeout this wave. I am placing the lowest possible bottom around 3700 but it depends on the momentum which will be apparent by next Friday. This will continue to be evaluated
The final set of extensions attempt to identify the end of Primary wave B based on the data from Primary wave A when compared to historical wave relationships. March 16th would tie the longest length relationship between a Primary wave A to Primary wave C. This also corresponds to the longer end of relationships for Intermediate wave A to Intermediate wave C. The extensions are the furthest set to the far right. In order to meet a 100% extension for Intermediate wave C, this would create around a minimum 50% retracement for Primary wave B from wave A. The extension ranges for this data are quite wide and my targeted forecast moves are around median movements which are easy targets to pick.
I will re-evaluate late next week to see if Minor 4 occurred near the plan and if wave 5 had begun. Best case all of this finally occurs and we can finally end Primary wave B. A major change after the recent spat of declines would likely stem from a major event. The Fed doesn’t meet until after the 17th of March, but the CPI report is on the 14th. If the bottom occurs on or before the 14th it could be based on the set of data. A lower inflation reading could spur the rally and then the Fed confirms inflation is coming under control a week later further igniting the next rally. Primary wave C would start around 2 months later than originally predicted, but it would likely place the next market top in mid- to late-summer. I still forecast a nice top above 4400-4700 before my doom and gloom forecast which I will touch on later and can be found in my old forecasts going back almost a whole year now.
VIX: TIME TO SHAKE MARKETS?US equities seem not to continue the rally after inflation pressures on FED.
Double top pattern on US BONDS and DXY rejects 105.5
US 2Y BONDS yield:
DXY declines but remains strong on possible 50bps rate hike:
Follow for more updates on this!
AUDUSD Outlook 1st March 2023Overnight, the AUDUSD fluctuated between the 0.67 and 0.6760 price range as the DXY retraced lower but recovered in strength toward the end of the trading session.
Early this morning, the AUD CPI was released at 7.4% (Forecast: 8.1% Previous: 8.4%) which was significantly lower than expected. This signals that the ongoing interest rate hikes from the RBA are taking effect in lowering inflation in Australia.
However, a cost of the significant rate increases is the slowdown in the economy as the Australian GDP slid to 0.5% (Forecast: 0.8% Previous: 0.7%).
The AUDUSD traded lower to test the 0.67 support level but rebound strongly to the upside, testing the bearish trendline.
If the price breaks above the trendline, the AUDUSD could see further moves higher toward the near-term resistance area of 0.6780 before continuing with the downtrend, retesting the 0.67 round number support level and breaking below that. Beyond 0.67, the next key support level is 0.6630.
AUDUSD retests 4H support after CPI dropHi, traders and TradingView community. Today we saw the AUDUSD retreat after Australian CPI data came in at 7.4, well below the 8.1% that had been expected. Unexpected data almost always has more impact on the market than expected, as it has shock effect.
7.4 is still a very firm number for inflation, and you might think, why is that a good thing? The drop is good, and it shows the RBA’s policy is working, and it also starts to put some doubt on the current rates outlook. But we’re wondering just how good it is. Yes, this could have an impact on the current rates policy, but we still feel that rates will have to continue higher to cut this figure back further.
The AUDUSD continues to fight back after testing .6700. Price at this point remains in its 4H consolidation pattern. Could the market be thinking it’s a good drop, but work still has to be done?
Will we see a retest of .6700 in tonight’s LON session? Buyers have .6752 resistance to beat, and sellers have .6700 to break. These are the 4H levels we are watching on the AUDUSD, and if one of them can be beaten, we will look to see if a new leg can develop.
What are your thoughts? Good trading.
Looking ahead into March 2023 (DXY)In February, we saw the US Dollar Index (DXY) reject the 100.85 price area to climb strongly to the upside due to several key events
1) Federal Reserve hiked rates to 4.75%.
Although the initial reaction was a big drop to test the low of 100.85, the comments accompanying the rate decision indicated that further rate increases could be expected as inflation has eased but remains elevated.
2) Surprising Non-Farm Payroll (NFP)
A massive surprise to the market with a print of 517K (Forecast: 193K) this signaled that the US economy was still performing strongly, despite the ongoing interest rate increases. The DXY shot up to test the 103.75 price level over the next couple of days following the NFP release.
3) Elevated Consumer Price Index (CPI)
Markets were widely anticipating that US inflation growth should have slowed down from 6.5% to 6.2%. However, the CPI data was released at 6.4%, which indicated a slight slowdown (just not as much as anticipated). This played to the previous narrative from the FOMC that while inflation was easing, it was still elevated. With an increased likelihood that the FOMC would continue with its interest rate hikes, the DXY climbed steadily to the upside, breaking the 103.75 level to climb steadily up to the 105.50 resistance level.
Now as we head into March and the DXY is retracing from the 105.50 price level, where could prices head to?
In the lead up to the major news events, the DXY could continue to retrace lower to retest the 104 price level and support area.
1) Will we see a repeat surprise on the NFP?
It is probably unlikely that we'll get a massive surprise again for the NFP this month. However, any positive data release could see the DXY renew its climb to the upside.
2) Focus is on the CPI
As indicated above, February's CPI was released at 6.4% which was higher than expected. A similar release this month would pretty much cement the Federal Reserve's decision regarding a rate hike, bringing further upside to the DXY.
3) Federal Funds Rate
In the recently released meeting minutes, it was highlighted that while all members supported a 25bps rate hike, some would have supported a decision to raise rates by 50bps.
This shows a level of hawkishness within the FOMC, which could be crucial in the decision this month. Employment and CPI data would be the deciding factor between a 25 or 50bps rate hike.
However, remember that the terminal rate is 5.25% and with rates at 4.75%, we are very close!!
We'll have to pay attention to comments regarding a shift in the terminal rates and increased speculation about a pivot to come from the FOMC.
Based on the points discussed above, I am anticipating overall further upside for the DXY, but
Price could first retest the 103.75 to 104 support area.
If the support level holds, this could be a good base for price to rebound and trade back toward the 105.50 resistance area.
Beyond that, the next resistance level is at 107.
Alternatively, if the price breaks strongly below 104, then the next support level at 102.60 would come into play.
A Leading Indicator for US EconomyCME: E-Mini S&P Retail Select Industry Futures ( CME:SXR1! )
Last Friday, the U.S. Bureau of Economic Analysis (BEA) released the latest Personal Income and Outlays Report. Personal income gained $131.1 billion (0.6%). Disposable personal income (DPI) added $387.4 billion (2.0%) and personal consumption expenditures (PCE) grew $312.5 billion (1.8%) for the month of January.
Data shows that U.S consumer is resilient. Wage gains and inflation pushed spending growth to a two-year high. In the past decade, PCE gained 60% to $18 trillion. More recently, it surged 50% in the three years since the start of the COVID pandemic.
The hotter-than-expected data indicated that US economy was nowhere near a recession. Additional data from the Bureau of Labor Statistics showed robust job growth in January and the lowest unemployment rate in half a century.
Wary of bigger and longer-lasting Fed rate hikes on the way, all major US stock indexes turned negative in the month of February. As of last Friday, Dow Jones Industrial Average was down 3.8% month-to-date, while S&P 500, Nasdaq 100 and Russell 2000 recorded -2.6%, -0.8%, and -2.4%, respectively.
Consumer Spending Outlook
Consumer spending accounts for over two-thirds of U.S. economic activity. While PCE shot up more than expected last month, it is a lagging indicator and only confirms what happened in the past. Could U.S. consumers spend out of the peril of a recession?
Retailer stock prices are forward-looking and reflect collective market consensus of how much free cash flow the retailers could earn, discounted by their cost of capital. There are indications that the shopping spree may be ending soon.
Last week, Walmart said its U.S. consumer spending started the year strong, but that it expects households to back off through the year, producing weak fiscal-year U.S. sales growth of 2% to 2.5%. Home Depot said consumer spending is holding up, but that it expects a flat sales-growth year overall, with declining profits.
This is a troubling signal. Retailers are supposed to benefit the most from growing consumer spending, but their stock prices have been losing steam in February. As of Friday, Home Depot ( NYSE:HD ) has a year-to-date return of -6.1%, while Walmart ( NYSE:WMT ) is mostly flat (-0.8%). Other retailers with declining stock prices include Dollar General ( NYSE:DG ), -13.2%; Walgreens Boots Alliance ( NASDAQ:WBA ), -3.7%, and Casey’s General Stores ( NASDAQ:CASY ), -3.8%.
Walmart reported Q4 and FY2023 (ending January) revenue growth of 7.3% and 6.7%, respectively. Its operating income fell 5.5% and 21.9%, for the same periods. Digging deeper into Walmart’s earnings release, I find that it keeps sales growing by expanding its grocery business, but those sales are less profitable than general merchandise categories, where consumer spending is leveling off or shrinking.
In theory, the growth of the biggest US retailer could be attributed to one of the following:
• General growth of consumer spending (economic expansion);
• Good business strategy and market share growth (economic trend unknown);
• Consumer downgrades spending from department stores (economic downturn);
• Price increases (inflation).
My interpretation:
1. Consumers tend to keep up with the same living standards. When inflation hits, they maintain the same purchasing habit. Higher price drives spending growth.
2. As inflation deepens, consumers get fewer merchandises with the same budget.
3. Consumers downgrade purchases from department stores to discount stores, and switch to generic products from brand-named products.
4. In a downturn, higher-ended stores get hit first, and discount stores get hit last.
While Walmart manages to grow revenue by doubling down on grocery and online businesses, the weakness in general merchandizes uncovers the real trend of consumer spending leveling off. We may disagree on whether a recession will be coming, however, data from Walmart and Home Depot indicates that the U.S. retail sector is in trouble.
S&P Retail Select Industry Index
S&P Retail Select Industry Index may be a better benchmark for the U.S. retail sector, comparing to the lagging government data and company specified performance metrics.
The index comprises of stocks in the S&P Total Market Index that are classified in the GICS retail sub-industry. Total-10 constituents by index weight are:
• Carvana (CVNA)
• Wayfair (W)
• Sally Beauty (SBH)
• Stitch Fix (SFIX)
• Boot Barn (BARN)
• Children’s Place (PLCE)
• Qurate Retail (QRTEA)
• Leslie (LESL)
• EVgo (EV)
• Abercrombie & Fitch (ANF)
One-year chart above shows that CME E-Mini S&P Retail Select Industry (SXR) Futures tracks the trend of S&P 500 but illustrates higher volatility in the first two months of 2023.
Each SXR contract is notional at $10 times the index. At Friday settlement price of 7004, one March contract (SXRH3) is valued at $70,040. Each futures contract (long and short) requires an initial margin of $5,700. When the underlying index moves 1 point, trader’s futures account would gain or lose $10.
At present, I do not foresee a decisive trend of the S&P 500. It could trend up, go down or move sideways depending on how the Fed rate hikes, inflation, unemployment and geopolitical crises play out.
However, this does not prevent me from expressing a bearish view on the US retail sector. Establishing a SXR short futures position would be appropriate in the negative outlook.
Happy Trading.
Disclaimers
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
CME Real-time Market Data help identify trade set-ups and express my market views. If you have futures in your trading portfolio, check out on CME Group data plans in TradingView that suit your trading needs www.tradingview.com
Bitcoin Looks like its gonna pull back, BTC had a nice run!Bitcoin looking to pull back.... inverse Cup and Handle. Measured move down to $22K area... <----
CAUTION here! Would like to see it bounce off the $23k support or if it can't hold there $22K of course...
CPI came in better for Risk On but Unemployment came in lower to conflict the CPI data... Looks like Bears are winning the battle so far!
More Market Moving Data tomorrow, PCE and New Home Sales.
Expect Volatility.
Will be watching....
Good Luck Out There!
EURUSD EURUSD
It is so clean! These are my favourite kind of set ups, it has been a choppy week but you wait till next week V day! We in for big treat CPI For US! Now Jobs have been great all is well in US it seems, lets see if this continues!
Technically if we go below 50 EMA expect 200 EMA as your TP - I am short it's a positive swap as well - that's another great thing about holding euro short.
Highs: 1.08180
Lows: 1.06680
Break of lows: 1.05470 target areas
Break of highs: 1.09190 target areas
It's really as simple as that, there's two ways you can play this put a small % position in and let it run, add alerts in and orders! Whatever suits your trading plan.
Have a great weekend
Trade Journal - There will be a FX week ahead video coming out this week!! Stay tuned.
USDCHFUSDCHF
USDCHF Within channel - We are currently mid range
Highs: 0.93050 Break / close above expect 200 EMA to be target areas
Lows: 0.91460 Break below expect it to retest the lows .90800-500 areas
We do have important data next week US CPI and for today unemployment claims.
Trade your own plan!
Trade Journal
$USDJPY: Dollar reversal?I suspect we are seeing a large scale reversal in the dollar, which will be further confirmed if CPI favors renewed hawkishness surpassing current consensus estimates (consensus was already shaken by NFP yesterday, and would be further shocked if CPI allows Powell to keep hiking for longer than expected, or even do larger hikes as well). The BOJ governor change is looming as well, and with it the retirement of YCC apparently (yield curve controls). Overall, a decent trade if you need to hedge some equity risk in your portfolio or if you are an avid Forex trader already.
Best of luck!
Cheers,
Ivan Labrie.
Nasdaq Bullish Entry - S&P500 has broken higher, which is great for the broader markets
- DJIA is up 2.57% already in 2023, if January closes higher, that bodes well for the rest of the year
- FTSE100 is racing ahead of everyone and everything that I follow, apart from the DAX(Ger40), mostly due to the weighting of the index towards Oil majors
- DAX is up >7%
- VIX is trading near April 2022 lows, now volatility or fear in the markets according to this asset
- US dollar is getting crushed
- Bitcoin is pushing back towards 20k
All risk indicators are pointing to a push higher in equities as the headline US CPI print today came in as expected and lower than the previous month. Core CPI notched up 0.1% so it isn't crystal clear that inflation is coming down due to the Fed's monetary policy. We also have a weakening US dollar as traders move into the safety of the US Treasuries, which in turn drops the yield of the 10-year note. US10Y is about to test the December 2022 low, and a close below would signal further downside potential. The eurodollar curve is massively inverted as are the US yield curves, signaling that the larger money markets are expecting something is up and that the Fed will have to change policy sooner rather than later.
The US has a new speaker and part of the concessions made was along the lines of not lifting the debt ceiling. This could have negative consequences before the new fiscal year starts in October, but is more likely to be a problem in Biden's final year, should we not get a bigger Federal Budget spending program.
For now, inflation is waning, which is obviously good news for any asset that was suffering under the rate hike cycle. eg. risk assets like Bitcoin and Nasdaq.
Levels on the Nasdaq I am watching include:
TP2 = 12570
TP1 = 12221
Resistance at 11605
With a hard stop at 11080
USDCAD 3H: 21/02/2023: Short opportunity
Daily TA:
Well, you can see all the information on the chart.
If you have questions feel free to ask.
💥💥💥Important note: At first I should mention that it's not investment advice then as you know, today's CPI for Canada will be published so it's a high-risk trade, and as always we need a low time frame confirmation. Last but not least, if you look at daily TA you can see price can move higher and then fall. So be aware!💥💥💥
BTCUSD LongsHello traders,
It looks like we can finally see a shift in the BTCUSD orderflow, we was delivering bearish for the past couple of months and now we can see accumolation put in motion.
At probability stand poin we have higher chances of seeing price of BTCUSD continue pushing forward as long as the price is showing us this.
XAUUSD Potential Forecast | Thursday 16th February 2023Hi guys, we are back on the charts again!
Today I will be talking about GOLD and upon the recent fundamental backdrop that has taken place.
Fundamental context
1. US data has came out very resilient and strong
2. Last month labour market and NFP data proves to be extremely resilient
3. CPI came out hot, signifying inflation has a longer runway for it to cool down
4. Yesterday's retail sales data m/m came out at a whopping 3.0% which is much better compared to forecast
5. Everything spells that the economy in the US is resilient and the Fed might need to increase the terminal rate or take on a more hawkish stance at the next FOMC meeting.
Technical context
1. GOLD is in a bearish trend
2. Lower lows and highs are being formed
3. Point of target at 1823 odds for price to come lower to form a yearly lower wick
4. Anticipating for price to continue lower
5. Will only be looking for longs at our stipulated area (blue zone)
Gold has the potential to continue bearish.
Thanks alot for tuning in.
Regards,
Chern Yu
SPX: Watch These Stocks to CASH IN on EGGS 🥚Hi Traders, Investors and Speculators of the Charts 📈📉
The SPX Chart is looking bullish as we see another very clear pattern form - the higher lows. Previously, this has been a sign that we can expect more upside movement from the stock market. But not all stocks are equal during this time... Have you bought some eggs recently?
Forget high gas prices. If you've tried to buy eggs lately, you've paid up or done without. But some investors are finding a way to cash in. Shares of one of the largest publicly traded egg producers, Cal-Maine (CALM) is up 39% in past 12 months. That's impressive as while the S&P 500 was down more than 7% during that time. Egg prices are on fire — even more so than oil. The price of a dozen grade-A eggs was $4.25 nationally in December 2022, says the Bureau of Labor Statistics, up 138% from the same period a year ago. In some places, like California, eggs sell for even more.
Egg prices are becoming the new face for runaway inflation. Millions of hens died last year in an outbreak of disease. That sharply cut the supply of eggs. Cal-Maine is even considered a meme stock now, landing in the Roundhill Meme ETF (MEME). The avian flu's effect on supply will ease, analysts say. But investors who look closely will see that corporate profits at egg companies are booming, too. And that's not seen easing anytime soon.
"Energy prices fell 4.5% in December on a 9.4% decline in gasoline prices. Food prices rose 0.3%, with food at home up 0.2% and food away from home up 0.4%, " said Bill Adams, chief economist for Comerica Bank. "Egg prices rose 11.1% on the month, pushed higher by an avian flu outbreak that has hurt supply."
So when you're ready to cough up the big bucks to buy eggs, at least know there's a way to profit, too.
HEY👀 Interested in Bitcoin? Here's my take for the SHORT TERM :
_______________________
📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍
We thank you for your support !
CryptoCheck
AUDUSD:Potential Breakout due to strong USD envrionmentHey Traders, based on the last strong NFP numbers that were out of expectations with 517,000 new jobs created in January, retail sales smashing expectations of 1.9% with 3%, CPI and other strong USD data we can notice that the market is pricing more rate hikes, and we expect the USD to continue outperforming until the next fed decision on March that will clarify more the USD path. in case of a breakout on AUDUSD chart i would monitor a retrace around 0.685 zone.
i would also like to give a risk management advice to traders, i personally risk between 0.5% to 2% per trade so even if i'm in the wrong path that would take me a bunch of consecutive losing trades to get my account marginated which is too far. so for example if you risk 1% per trade that will take you more than a hundred consecutive losing trades to lose your account. but if you risk 10 times the recommended amount for example a 20% risk per trade that means 4-5 consecutive losing trades will knock your account out from the market.
Please feel free to ask me questions regarding fundamentals and technicals in the comment section!
Trade safe, Joe.
source of USD data: www.forexfactory.com
#ES_F Pullback to major Support and Resistance line and 21 DMAMarket pulled back today and many feeds were filled with Bears and Doomsday callers ...
Is this the start of a massive down leg or just a technical pullback ? Bear trap or will Put holders be rewarded ?
Time will tell..
CPI next week so anyone's guess . Personally I'm waiting for more resolution and confirmation before trading this spot as it could go either way in my opinion.
BTC (1h) vs CPI and PPI announcementsBTC price action on the days of #CPI and #PPI announcements for Oct 2022 through Jan 2023.
Yellow = #CPI announce dates
Pink = #PPI announce dates
Oct announce (for Sept)
#CPI = BTC up
#PPI = BTC up
Nov announce (for Oct)
#CPI = BTC up
#PPI = BTC up
Dec announce (for Nov)
#CPI = BTC up
#PPI = BTC down
Jan announce (for Dec)
#CPI = BTC up
#PPI = BTC down
***
Notes
December PPI was announced before CPI, probably due to holiday season for gov .
Used hashtags to prevent TV from auto linking #CPI and #PPI to charts for indexes/stocks with same ticker
