Scalper
Gold plunges as investors await fresh cues about Fed rate cutsGold price has been hit hard amid uncertainty over US Retail Sales and Industrial Production data.
A strong US Retail Sales data would provide more room for the Fed to maintain higher interest rates.
•Further escalation in Middle East tensions could bring some revival in the gold price.
Gold price (XAU/USD) witnesses a sell-off after failing to reclaim the weekly high above $2,060. The precious metal drops as investors reconsider the timeframe in which the Federal Reserve (Fed) may reduce interest rates. This comes after the release of the sticky Consumer Price Index (CPI) report for December, as well as hawkish comments from European Central Bank (ECB) officials recalibrating broader market expectations.
While markets continue to lean towards a rate cut decision in March, policymakers are in no hurry to endorse a dovish stance on interest rates. The consumer price inflation in the United States economy is almost double the required rate of 2%, labor demand is steady and the chances of a recession are low despite interest rates remaining in the range of 5.25-5.50%. This would allow Fed policymakers to maintain a restrictive monetary policy stance for the time being.
Going forward, monthly US Retail Sales, the Industrial Production data and the Fed's Beige Book are expected to provide fresh cues about the interest rate outlook.
Daily Digest Market Movers: Gold price falls sharply as US Dollar, yields recover
Gold price corrects to near the crucial support of $2,040 as the US Dollar Index (DXY) has recovered sharply ahead of crucial United States economic data for December.
A strong run-up in the precious metal that was propelled by firm bets in favor of early rate cuts by the Federal Reserve and deepening Middle East tensions, has stalled for now.
• As per the CME Fedwatch tool, chances in favor of an interest rate cut in March have eased nominally to 66% against 70% recorded earlier.
A gradual decline has come as investors are reconsidering strong optimism for Fed starting the rate-cut cycle from March after getting mixed cues from stubbornly higher headline consumer price inflation and softer factory gate price data.
Investors would get more cues about when the Fed could plan rate cuts after the release of the monthly US Retail Sales and Industrial Producer data, which are due to be released on Wednesday.
• Retail Sales are expected to have grown at a higher pace of 0.4% against 0.3% increase in November. Consumer spending excluding automobiles is estimated to have grown at a steady pace of 0.2%.
• The Industrial Production data is seen stagnant against 0.2% growth in November on a monthly basis.
Upbeat economic data would comfort Fed policymakers for maintaining a restrictive monetary policy stance while a soft report will firm the case of rate cuts in March.
• Before that, commentary from Fed Governor Christopher Waller will be keenly watched by market participants. Investors are eager to know how the Fed is considering the timeframe for the rate-cut cycle after the release of sticky consumer price inflation data.
• The appeal for the gold price has not been impacted on a broader basis as crises in the Middle East region have deepened after the airstrikes from the US and the United Kingdom.
Iran-backed Houthi rebels have threatened to retaliate for attacking groups in Yemen, which will keep risk sentiment on its toes.
• The US Dollar Index has broken to a new high slightly above 103.00 as investors hope that other central banks will also start reducing interest rates earlier than previously projected. Meanwhile, the 10-year US Treasury yield has rebounded swiftly above 4.0%.
Technical Analysis: Gold price corrects to near 20-day EMA
Gold price has faced a sharp sell-off after failing to recapture the weekly high of $2,062. The precious metal has dropped to near $2,040 and is expected to remain on tenterhooks before getting fresh cues about the timing of rate cuts from the Fed. The yellow metal has surrendered entire gains generated on Monday and has corrected to near the 20-day Exponential Moving Average (EMA), which trades around $2,039.
More downside could appear in the gold price if it fails to defend the January 3 low of $2,030, which will expose it towards the psychological support of $2,000.
Do not trade zone! Specially scalpers!I believe these two ranges and the area between them will catch, trap and make so much liquidation in next hours, as the weekly is closing.
Weekly wanted to close above monthly open. which seems buyers were successful. Make sure to be neutral between these two lines.
What Is "Scalping" In ForexHello Traders,
We thought that we'd make a little guide to those of you who are looking at scalping as a possible trading strategy. This educational idea will give you a few things to consider and we hope that it will inform you of what you can expect from being a scalper.
Our Take:
Personally for us scalping isn’t our style and we wouldn’t recommend it to anyone but some people absolutely love it and are drawn into this type of trading because of the huge profit potential which is why we thought that we’d make this educational guide so that if you want to become a scalper then you know what you’re getting yourself into. Scalping can be a great way to trade but if you want to break out of that 9-5 job and not sit at a computer all day then scalping definitely isn’t your style. The reward you get from being a scalper comes with an equal risk and this is something a lot of people overlook.
A Message From Us:
We hope that you liked our guide and be sure to look out for our next educational guide where we’ll go over more lessons in regards to trading. If you have anything you want us to cover then please do contact us and we’ll see what we can do. We’d love it if you could show your appreciation if you liked this post and we wish you the best.
Stay Safe - The JPI Team
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Opening week GBP/USD tradeOn the daily chart we took buyer liquid above the right shoulder resistance level , so I expect a short term pull back to smaller right shoulder below the right shoulder at 650 at least … wait for later session and a bull trap above the trend line for the short opp back down .
ETH/USDT - DAILY DAY TRADING PRICE ACTION + SND OUTLOOKWelcome to the daily idea outlook on OKX:ETHUSDT
My TA style
. Support + Resistance Levels
. Price Action
. Occasional Fibs
. SMA + HMA
7th April:
1) ETHUSDT is trending bullish on the weekly, but nearing a strong Day Timeframe structural resistance. This indicates only 2 things: Reversal, or Breakout.
2) On the 4 hour, lower highs are form. ETH has entered the 4-hour bullish Fibonacci zone.
Scenarios I will make entry on:
a) Price test 1836 levels and form sideways trend with strong support and failed-breakouts below level, or bullishing spikes during volume periods - Entry : Longs // Take profit - 1992
b) Price breaks to 1810-1802 level, forms resistance at 1833 levels - Entry : Shorts // Take profit - 1779
Entries will be made on 1 hour or 30min timeframe. Anything lower, I feel it's not a stable indicator.
NZDUSD Jan 2023 UpdateHello. I did a sell setup on NZDUSD on 9th Jan this year when the price was around 0.6360 and people rushed in to sell. I've been patiently waiting for price to reach my expected zone and instead it missed the zone by 4 pips before dropping a little and has been consolidating in a range. Let's wait for volatility and see what price action will tell us
CADCHF I Buy scalp to resistance Welcome back! Let me know your thoughts in the comments!
**CADCHF Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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NAS 100 I Short scalp from resistance Welcome back! Let me know your thoughts in the comments!
**NAS100 Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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15 Min. Scalping Strategy I HIGH WIN RATE15 Min. Scalping & Intraday Strategy I HIGH WIN RATE - Live Demonstration in the Asian Session - USDJPY
About KiSS 2.0 Market Structure Method Trading Strategy:
1. It is a market structure based trading strategy (uses a naked chart and indicators for confluence)
2. Effective strategy for scalping and intraday trading
3. 93% win rate and its recommended to demo and record a minimum of 100-300 trades in a trading journal to find your unique edge
4. Use a unique risk management method to increase probability of wins
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
Brian & Kenya Horton, BK Trading Academy
EURNZD BUY Scalp from Support!Welcome back! Let me know your thoughts in the comments!
**EURNZD - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
Brian & Kenya Horton, BK Forex Academy
EURUSD KiSS Strategy LONG from Support!Welcome back! Let me know your thoughts in the comments!
**EURUSD - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
Brian & Kenya Horton, BK Forex Academy
Heikin Ashi Trading SetupBYBIT:BTCUSDT
Here I have shown a Heikin Ashi Trading Setup. I'm using forementioned candles, with smoothing, and a PMARP signal to confirm entry (Long or Short) positions.
For the PMARP I give full credit to Eric Krown and is linked in this published idea. I've adjusted the settings to give a cleaner look and to use only the relevant information.
Trading strategy is anchored to the chart, but here it is again:
STRATEGY RULES - Heikin Ashi Candles
LONG
Wait for BUY signal, then wait for candle to close
Next smoothing bar or 2nd should be BLUE
PMARP must be on OR above 85%
SL on bottom of bar before BUY candle
TP on SELL candle or first YELLOW candle
SHORT
Wait for SELL signal, then wait for candle to close
Next smoothing bar or 2nd should be YELLOW
PMARP must be on OR below 15%
SL on TOP of bar before SELL candle
TP on BUY candle or first BLUE candle
STRATEGY RULES - PMARP
Once candle chart prints a BUY signal, wait for PMARP to be on OR above the 85% line
Once candle chart prints a SELL signal, wait for PMARP to be on OR below the 15% line
This seems to work well in backtesting on lower time frames such as 5M, 15M, and 30M. I'm using this for scalping/day trading so haven't tested on longer time frames.
Good luck every *NOT FINANCIAL ADVICE*
Long Scalping a Bear MarketProbably one of the most difficult things you can do in a Bear Market is BUY. Especially when we are seeing aggressive selling like this. This is the type of market where every time you try and long, you lose money.
There's little point buying a falling knife UNLESS you are really good at it, because this current market is breaking every single type of support because of sentiment.
HOWEVER, using my strategy with the Price/Trend Indicator and Volume Indicator, you are able to see when momentum/ volume has shifted INSIDE of the Bear Flag . From this you can see that they are probably going to break out upwards to hit Stop Losses before continuing the fall.
If you take a look at the Orange Boxes, you can see a BUY signal, but Volume hasn't upthrusted enough - it hasn't strongly gone above the Blue and Grey trendlines, so it is invalid.
If you take a look at the White Boxes, you can see a BUY signal, with Volume upthrusting above the Blue and Grey trendlines. This is a valid LONG.
(Ignore the purple line, I'm just testing something at the moment)
There is an indicator called "Deviation Bands" - these are Standard Deviations from the baseline of current price. If you choose the option of "EMA", this will allow you to set Take Profit targets - like here, TP 1 and TP2. I will reupload it on my Scripts soon.
Stop Loss is usually quite tight in these scenarios - sometimes actually not as tight as this (sometimes you can get wicks) but other times below the last low.
AUDCHF I Scalp & Intraday Short IdeaWelcome back! Here's an analysis of this pair!
**AUDCHF - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
Brian & Kenya Horton, BK Forex Academy