My Forex Funds Account Had two sell positions on gold, these two positions closed my phase 1, 8% of a 300k account on my forex funds. i moved my stoploss to close in profits...
i was so close into getting out of this trade and just then the fed chair powell testimony drove my sell into my take profit and closed the 8% i needed very grateful ..
NEWS
EURUSD before Powell Today is the first of two days of Jerome Powell press conferences.
Depending on the comments, it is possible that we will see larger swings that will provide new opportunities.
At this stage we have no deals and are not looking for new entries.
We are looking at buying opportunities in EURUSD after a correction or after a break and test of 1.0700.
We will search for new trades only after confirmation!
In an impulse decline, no buys are sought!
An important week for EURUSD Several impactful news coming up this week that will determine the trend.
We’re monitoring the opportunities for starting an up trend but there is still no grounds for entry.
Upon another decline back to 1,0550 we will watch for a reaction and this could be the first opportunity.
EURUSD is currently on an important resistance and we’re watching for a pullback.
Key news events for the weekIt might be a big week head for the markets.
Monday
CHF CPI data release. The inflation gauge for the Swiss is expected to be lower than previous, signaling a slowdown in inflation growth. Could result in some weakness in the CHF if markets anticipate no more rate hikes to come from the SNB.
Tuesday
Reserve Bank of Australia (RBA) interest rate decision. Another 25bps rate hike to come? However, the AUDUSD has often traded lower following the release of the news. Could the same thing happen again?
Fed Chair Powell testifies during the US session. This could lead to increased volatility on the DXY, but watch what Powell says! Pivot? Or continue with the rate increases?
Wednesday
Bank of Canada (BoC) is set to hold rates at 4.50%. Unlikely that we'll see a surprise given how recent Canadian CPI has been released lower than previous (signaling a possible reversal in inflation).
Friday
Bank of Japan (BoJ) is set to announce its monetary policy decision. This is Kuroda's last monetary policy meeting as Governor. While a surprise is unlikely, he might lay the foundations for his predecessor. Expect significant volatility on the Japanese Yen.
Since it is the first Friday of the month, look out for the release of the US Non-Farm Employment Change (NFP). The data shouldn't surprise like the previous month, however, some stability in the employment data could see markets reconsider the FOMC's stance on further rate hikes, leading the DXY to trade lower.
Whatever the news, watch out for my daily posts on the specific currency pairs as I update you on possible setups and price levels. Also, tune in to the Daily Live Stream at 3pm (GMT+8)!
DXYI thought i would share my idea, its very brief.
The DXY is still in its downtrend and now is at the top of its downtrend line. Its worth noting that it is in an acending wedge which more likely play out to the downside.
But also it is at strong resisitance, this is the level it hit on 20 march 2020 and tanked, so could we see the same?
One area to note is the orange circle, if the DXY goes down be mindful of the potential double bottom right there.
If DXY drops, stocks, BTC will follow :)
Anything can happen so please always do your own due dilligence :) But im bullish on BTC and probability suggests downside for the dollar?
London Close Volume. Fakeout for Bulls or Continuation for BearsAnticpating that we may fakeout on the 1hr Timeframe and dip back below 1.062. We may, consequently, drop to 1.06 where i will look to TP. We may keep dropping or continue to test
these Pullback areas on the 4hr/1Hr Timeframes. It would be good for bears if the 4hr candle closes below 1.062. Bulls need close above there. Consumer sentiment missed by a decent margin. Causing concern. Investors may continue to pile inot this already crowded trade. We'll see what happens. Speach and manufactuaring data upcoming this week
SBF hit with 4 new criminal charges, downwards breakoutNews has just come out over the past 2 days that SBF has been hit with 4 new criminal charges. On top of that, the chart screams dump on its own too. We just broke down after a fake exit pump to $2 a couple of days ago. This coin is a bottomless pit, similar to LUNA. Basically short it to 0. Aim for a new low for sure, but at the very least aim for $1. Be wary of fake exit pumps. It wil dump for sure, but you might get liquidated if you're overleveraged and the price get manipulated up by whales in order to dump.
GU Looking for correction then head to downside. $GBPUSD After News on 2/24/23 and After Top-Down analysis i'm looking for price to move to the downside on 2/27/23 for a short correction.
This is not trading advice or a signal!
The Website should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions.
UJ Looking for bearish movement to the downside 02/27/23$USDJPY After News on 2/24/23 and After Top-Down analysis i'm looking for price to move to the downside on 2/27/23 for a short correction.
This is not trading advice or a signal!
The Website should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions.
USD/CHF LONG POSITION FED MEETING NEWS Good Morning everyone,
As we expect the dollar is gaining some power during this weeks, and the previous meetings is being bullish for the usd currencies.
In that matter we expect the same to happen today at 01:00pm.
this trade is expected 1/1 risk reward.
That's my personal opinion for today
XAUUSD getting ready for blast off??Good afternoon gold gang! hope you're well.
Wow, not much movement again today waiting for the FOMC minutes to come out. Gold price is hugging my middle level there perfectly tapping into it continuously.
This normally happens before a news event and is usually quite a big move coming from it, so lets see!!
I have my targets above and below .. we might even see a whipsaw where it takes them both .. who knows!
Until then, stay safe in the markets .. ill be back this evening with an update
Tommy
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!💥💥💥
What News to Follow | Top 5 Forex Fundamentals
Economic indicators and announcements are an essential part of fundamental analysis. Even if you’re not planning on finding trades using fundamentals, it’s a good idea to pay attention to how the overall economy is performing.
Here’s a cheat sheet covering six key indicators and announcements to watch out for.
1. Non-farm payrolls (NFP)
The non-farm payrolls report estimates the net number of jobs gained in the US in the previous month – excluding those in farms, private households and non-profit organisations.
2. Consumer price index (CPI)
The chief measure of inflation is the consumer price index, which measures the changing prices of a group of consumer goods and services.
3. Central bank meetings
As we’ve seen, most traders follow economic figures so they can anticipate what a central bank might do next. So, it only makes sense that we pay attention to what happens when they actually meet and make decisions.
4. Consumer and business sentiment reports
Multiple organisations are constantly surveying consumers and business leaders to create sentiment reports. While the number of reports they produce is staggering, they all play their part in shaping the markets’ expectation for the future.
5. Purchasing manager index (PMI)
Purchasing manager indices measure the prevailing direction of economic trends in a given industry, according to the view of its purchasing managers. They are used as an indicator of the overall health of a sector.
Pay close attention to these fundamentals.
They play a crutial role in trading.
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Alantra is Leading the Charge in Sustainable FinanceAlright folks, let's talk about Alantra, the Spanish financial company that's making some big moves in the sustainability and energy sectors.
They recently made some key hires that really demonstrate their commitment to these areas. They brought on Francois de Rugy, a former French politician who's an expert in environmental, social, and governance issues. He's going to be a senior advisor, bringing his knowledge and experience from serving as Minister of Ecology, Sustainable Development, and Energy in the French government.
And that's not all. Alantra also hired Nemesio Fernandez-Cuesta, a former Spanish energy secretary, to serve as a senior advisor on energy-related transactions. This guy knows his stuff when it comes to the energy sector, having previously served as Secretary of State for Energy in Spain.
These hires show that Alantra is serious about sustainability and energy, and they've got more than 65 staff working in these areas, including ESG analysts, impact investment professionals, and sustainability consultants. They're well-positioned to take advantage of the growing demand for sustainable and impact investments, and they've got a diversified business model that includes asset management, investment banking, and wealth management.
Overall, if you're looking for a company that's making moves in the sustainability and energy sectors, you might want to keep an eye on Alantra. They've got some serious expertise and a strong market position in Spain and Latin America, and they're well-positioned to capitalize on long-term growth trends in the financial services industry.
Important USD news (CPI) Important USD news will be published today at 15:30!
By default, they cause large fluctuations.
All active positions must be reduced risk.
New positions are wanted after the news!
The more likely direction remains for the downside to continue towards 1.0620 and 1.0565.
This scenario breaks down on a closing above 1.0790.
Bitcoin Scalp Signal for Day Trading🖥️ We have determined there is a 65% chance Bitcoin will Rise from our current entry point.
📉 LONG - BTC : $21,800 📉
💵 Length of trade: we are expecting BTC to hit a $400 scalp, with a high end of $700, and a minimum expectation of $250.
🕰️ Duration of trade: we are expecting the minimum target to occur within 10 hours. Then we see the rest of this trade playing out around market open for NYSE.
📊🖥️ INDICATOR SHOWN ON CHART : Scot Signal Indicator
🅱️₿ LocalBitcoins To Shut Down, Bitcoin DropsLocalBitcoins is a huge name, even though they have no volume its closing down can definitely be felt across the market.
People tend to panic over anything and everything.
They made some really bad business decisions in the past and now it seems they are paying the price.
This will be just another minor "bump" in the road and Bitcoin will resume growing once the panic settles, the weak hands sell.
After 14-February we should start seeing better news on the Bitcoin side.
The Altcoins are doing great... That's what we trade when Bitcoin is undergoing consolidation, a correction or a retrace.
We will continue with the "Name Your Altcoin" series after Part 3 and comeback and finish part 4 and 5 when more people get involved.
We can do this monthly or bi-monthly, I'll update you on your favorite altcoins and thank you for the support.
As to Bitcoin, the only thing that will peak my attention is if we break below the $20,000 level/support. Any trading above this level and we continue 777% bullish, of course!
Namaste.