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GoldViewFX - Channel bottom to top for the finish! BOOOOMHey Everyone, We close off the week with a lovely finish. As stated yesterday, price was testing a strong level of support and we were looking to buy the dip from the channel bottom. We took our Buy from the new Goldturn support created on the channel bottom this morning and rode the move up all the way to the channel top - BOOOOOM !!!! We will now come back Sunday, as usual with our full multi timeframe analysis and trading plans for the coming week. Hope you all have a smashing weekend! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
1
Realities vs. Trading Myths. This one is for beginners!Hello traders, today we will talk about Myths and Reality of Trading. As you may already be aware, there are a lot of misconceptions that new traders encounter before they begin their trading careers. The following interpretations of those statements are presented on the layout: 1) The majority of individuals believe that trading is simple and that they can immediately stop working or doing anything else in order to make a living off of trading. In fact, he or she MUST have a backtested strategy and have sufficient industry knowledge in order to be successful, reliable, and a full-time trader in general. Keep in mind that achievement takes time, but it is totally worthwhile! 2) "Trading is like a casino" is a statement we frequently hear. This phrase is frequently used by only two types of people: those who have never been able to succeed in this field and those who have no plan or notion of what they are doing. Never open a position based on the outcome of a coin toss or what other people are saying. A trader may be inspired to open a position on a certain security by the ideas and analysis of others. 3) No matter what line of work one is in, including trading, one can never become wealthy in a single day. A qualified lawyer must practise for at least six years before becoming a licenced surgeon, which takes between 10 and 14. What gives you the impression that you can master trading in a matter of weeks or months? 4) Use a Stop Loss at all times to prevent substantial losses, regardless of the circumstance. Regardless of whether liquidity hunt occurs or not, it is always necessary to keep secure. 5) Risk management always takes precedence over victory percentage. Imagine your next 10 trades have a 1:3 Risk-to-Reward ratio with a 50% win rate. This implies that you will win 5 and lose 5. Let's imagine we choose to stake 1% of our capital on each deal. If we quickly calculate the numbers, we can see that with a 50% win rate and a 1:3 RR, our next 10 transactions will net us a tasty 10% return. Of course, this is not always the case because there are various things to take into account, including spreads, charges, pip value, etc. This is a great illustration to get the point across, though. 6) A significant portion of traders prefer trading the "Smart Money" concept, which is ostensibly the closest thing we have to institutional trading, over the "Retail Way" because they find it to be more profitable. The main line is to pick a method that works best for you and stick with it while adjusting it as you go. Changing tactics every week or month won't help one become consistent. You must commit to and stay to a single trading strategy. 7) Many beginning traders tend to increase their risk in attempts to make more profits. This approach is so risky and totally wrong. If one is willing to make more money trading, it is important that he or she increases the input, and not the risk. This chart is just for information Never stop learning I would also love to know your charts and views in the comment section. Thank you
Education
by CRYPTOMOJO_TA
6
📊 7 Steps To Plan Your TradingHere are 7 steps to consider before entering a trade. Pick one or multiple options for each step to incorporate into your plan. 🔷 Timeframe: This step involves determining the desired timeframe for the trade, which can vary from day trading on shorter timeframes (m15 to h1), swing trading on intermediate timeframes (h4 to d1), or position trading on longer timeframes (d1 to w1). Choosing the appropriate timeframe helps establish the trade duration and the level of monitoring required. 🔷 Risk Management: This step focuses on determining the level of risk to allocate to each trade. It is recommended to risk a certain percentage of capital per trade, typically ranging from 1% to 3%. This ensures that losses are limited and helps maintain consistent risk across trades. 🔷 Conditions: Identifying market conditions is crucial for trade planning. Traders need to assess whether the market is ranging (moving within a defined price range) or trending (showing a clear upward or downward direction). Understanding the prevailing market conditions helps in selecting appropriate trading strategies and indicators. 🔷 Markets: This step involves selecting the specific financial markets or instruments in which to trade. Traders can choose from a wide range of options, such as equities (stocks), options, bonds, futures or Crypto. The choice depends on individual preferences, market knowledge, and the availability of suitable trading opportunities. 🔷 Entries: Determining entry points is essential for initiating a trade. This step involves selecting entry strategies based on the identified market conditions. Common entry methods include taking advantage of pullbacks (temporary price retracements within a trend), breakouts (entering when price surpasses a key level), or trading news events that can cause significant price movements. 🔷 Stops: Placing stop-loss orders is crucial for managing risk and protecting capital. Traders need to determine stop levels that are strategically placed away from market structures, such as support and resistance levels. This helps minimize the chances of premature stop-outs due to normal market fluctuations while still ensuring that losses are controlled. 🔷 Targets: Setting profit targets is essential for determining when to exit a trade. Traders can choose between fixed targets, where a predetermined price level is identified to take profits, or trailing stops, where the stop-loss order is adjusted as the trade moves in the trader's favor. Both approaches aim to capture gains and lock in profits while allowing the trade to run if the market continues to move favorably. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
1
Avoiding emotion in Trading!Avoiding emotions in trading can be challenging, but it is essential for making rational and objective decisions. Here are some strategies to help you minimize the impact of emotions on your trading: - Develop a trading plan: Create a well-defined trading plan that outlines your goals, risk tolerance, entry and exit points, and overall strategy. Following a plan helps you stay focused on your predefined criteria instead of making impulsive decisions based on emotions. - Set clear rules and stick to them: Establish clear rules for your trading activities and adhere to them strictly. For example, determine the maximum amount you are willing to risk on a single trade and never exceed it. Having predetermined rules eliminates the need for impulsive decisions driven by emotions. - Use stop-loss orders: Implementing stop-loss orders helps limit your potential losses by automatically triggering an exit from a trade when a certain predetermined price level is reached. This can prevent you from holding onto losing trades due to the fear of missing out or the hope that the market will reverse. - Avoid overtrading: Overtrading can occur when you let emotions, such as greed or fear of missing out, dictate your actions. Stick to your trading plan and only execute trades that meet your predefined criteria. Taking fewer, well-analyzed trades can reduce emotional decision-making. - Practice risk management: Effective risk management is crucial for maintaining emotional balance. Determine the appropriate position size for each trade based on your risk tolerance and overall portfolio management strategy. By managing risk effectively, you can minimize the impact of losses on your emotions. - Maintain a long-term perspective: Trading can be volatile in the short term, but it's important to keep a long-term perspective. Avoid getting overly influenced by daily market fluctuations or short-term trends. Focus on your trading plan and the bigger picture, which can help you make more rational decisions. - Take breaks and manage stress: Trading can be stressful, and stress can amplify emotions. Take regular breaks, practice relaxation techniques, and engage in activities outside of trading to maintain a healthy emotional state. A clear and focused mind is essential for making objective decisions. - Analyze and learn from your trades: After each trade, review your performance objectively. Analyze both successful and unsuccessful trades to understand the factors behind the outcomes. By learning from your experiences, you can refine your strategy and reduce emotional decision-making in the future. Remember, emotions are a natural part of being human, but successful trading requires discipline and the ability to make rational decisions. While it may not be possible to completely eliminate emotions, these strategies can help you minimize their impact and make more objective trading decisions.
AMEX:SPY
by A1TradingHub
The AEM Framework: 3-Step Guide to Successful TradingToday, I'd like to introduce you to the 'AEM' framework – a three-step process to successful trading. This framework is designed for everyone, from beginners starting their journey to seasoned professionals looking to refine their strategies. It involves three fundamental steps: Analyze, Execute, and Manage. Let's break down each element: 🔍 'A' for Analyze The first step to becoming a successful trader is to understand yourself and find a trading style that suits your personality, risk tolerance, and financial goals. This includes your emotional comfort with taking risks, your patience levels, and your time commitment to trading. Once you've figured out your trading style, the next step is to analyze potential strategies. Whether you're inclined towards fundamental analysis, technical analysis, or a combination of both, you must thoroughly understand the strategies you want to apply. Finally, analyze your chosen strategies and yourself to create a robust trading plan. Your trading plan should include what you'll trade, when you'll enter and exit trades, and your criteria for decision-making. Remember, the goal isn't to make perfect predictions but to follow a consistent plan that can potentially yield positive results over the long term. 🎯 'E' for Execute The second phase is execution. You've made your plan, and now it's time to put it into action. Execute your trades according to your strategy, without letting emotions cloud your judgement. Remember, it's about sticking to your plan – not chasing profits or running from losses. But executing your plan isn't just about trading. It's about discipline and consistency, regularly reviewing your trading activity, making adjustments as necessary, and continuously learning from your experiences. 📊 'M' for Manage The final step in the AEM framework involves managing several aspects of your trading: Manage Yourself: Trading can be emotionally taxing. Maintain your physical and mental health to ensure you're always in the best shape to make rational decisions. Manage Your Risk: No strategy is bulletproof. Always use stop losses, position sizing, and diversification to manage your risk effectively. Manage Your Trades: Monitor your trades, keep records, and review them periodically to identify patterns, learn from your mistakes, and improve your strategy. Manage Your Money: Keep your capital safe. Never risk more than a small percentage of your trading capital on any single trade, and be sure to keep some funds in reserve for unexpected opportunities or setbacks. The AEM approach is a comprehensive method that can assist you at all levels in creating, executing, and managing a successful trading plan. It encourages introspection, disciplined execution, and careful management. Remember, the journey to trading success isn't always smooth, but the right approach and mindset can make it considerably more navigable.
Education
by TheFxAce
13
Nifty Trade Setup (09-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. Today Nifty gave good setups wasn't able to pre analyze due to work and missed good trade after many days of range bound and gaps. :) Trade Setup for tomorrow: 1.) If opens flat and took support near trendline and 18580 will look for buy for target of 18700, 18726 and PDH. . if doesn't hold 18580 support will look for shorting for next support place. 2.) If gaps i will wait for good setups to form.
NSE:NIFTY
by TradeInsights
VET/USD - My Longterm PlanVeChain update with my opinions and what i plan to do if my opinions are correct: Here is a closer look at the 1 day VET/USD chart: While VET did have a nice move up from $0.0152 to $0.032, that impetus is gone and VET is now making Lower Highs and Lower Lows. Notes: VET is still in its Descending Channel Pattern. VET is back in the Bearish Zone of the Ichimoku Cloud. VET is under both its 50MA and 200MA levels. The 50MA has crossed back under the 200MA on this 1 day timeframe. If we look at the volume for VET/USD, it’s been very low since around July 2021 and has not really recovered. On this chart, i have added various Support and Resistance Lines as well as Areas of Interest as highlighted with the Black Dotted Lines with Yellow Shading. If we look at the Chaikin Money Flow (CMF Indicator), we can see that the MF Line is still very near its 0.00 Base Line, a cross below the 0.00 Base Line will take VET into Distribution on this 1 day Timeframe. Note the the MF Line is still below its Least Squares Moving Average (LSMA) Line. My longterm Hodl plan for VET/USD: I still believe we will see $0.0096 to $0.0084 especially when the USA finally admits publicly that it is in a Recession, which when it does, will mean it’ll actually be in a Depression. So if this recession plan follows through then i will be looking to buy in around $0.0096 to $0.0084 and longterm hold until it reaches back to the ATH of around $0.28 and then re-asses the situation. A successful Daily Candle close below $0.0152 will be my first confirmation that we may see below $0.01. With the potential oncoming of this world depression, if the only way out for the US is to start WW3 to counter BRICS, the loss of the Petro Dollar, the loss of sanction power and the growing +$32T of debt then i believe we could see $0.0057 to $0.0043. When the oncoming recession/depression pivots and the new Bull-Run starts, after a while, keep an eye out for when the Mainstream Media starts broadcasting to the public about huge Crypto Gains! When this happens you’ll suddenly have random family and friends who now want to jump into crypto because it has gone up 1000s of %! This will be the time to consider taking profit on any long term hold as all the newbies jumping on the band wagon will be providing EXIT LIQUIDITY to those who got in at a really low price. Once this happens, then the market makers will change direction and become Bearish as Bulls and Bears are the same people I.E they are the Market Makers. I have seen this happen twice now with the Crypto market, once in 2017 and another in 2021. As always, we must keep an eye on what BTC/USD is doing. Anyway, this is all just my opinion and i have other strategies in place for if we don’t see sub $0.01 again. I hope this post is helpful.
BINANCE:VETUSD
by TradingThroughTheLens
7
6/1: Daily Recap, Outlook, and Trading PlanRecap Over the past few weeks, a pattern has emerged where Thursdays and Fridays see a violent squeeze, followed by a "hangover" state in the first few days of the next week. Both last week and this week so far have followed this pattern. We are currently in the sub-4200 congestion zone after yesterday's dip, having retraced about 60% of last week's rally. The Markets 🌏 Asia: Mixed 🌍 Europe: Up 🌎 US Index Futures: Up slightly 🛢 Crude Oil: Up slightly 💵 Dollar: Down 🧐 Yields: Down 🔮 Crypto: Down a bit Trading Plan 💪 4193 - 4185 is support 📈 Next minor is 4212, then 4221 📉 Pullback if 4185 fails is 4167, then 4145 Key Structures The purple triangle backtest has a support level of 4147 and a resistance level of 4190. Resistance is now around 4221 on the small white channel. A new leg up to break the weekly high would begin if this area could be reclaimed. Support Levels 4193 (major), 4185-88, 4176, 4167-70, 4160, 4146, 4137, 4125-28, 4112-15, 4099 (major), 4084, 4070-75, 4062, 4048 (major), 4036, 4030 (major) Resistance Levels 4200-05 (major), 4213, 4221, 4230, 4240-43 (major), 4247, 4263, 4274 Trading Plan Expect a more complex trading session today, with possibilities for both long and short setups. The 4190 triangle level was reclaimed at around 4194, offering some long exposure opportunities. However, trading in the 4185-90 zone requires skill and a strong real-time sense of action due to its messy and well-tested nature. An alternative is to test around 4185, then spike back up to 4192 for an entry. Potential knife catch long locations include the 4160 and 4146 levels if there is a leg down. Wrap Up Yesterday's session was complex and future sessions are likely to follow suit. After the easy trend last week, it's time to be strategic. Focus on reacting, with a loose lean as follows: as long as 4193-85 holds, a push back to 4213 and 4221, followed by another dip, is possible. If 4185 fails, a correction may be needed, possibly down to 4160. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decisions.
CME_MINI:ES1!
by spytradingpro
Nifty Trade Setup (31-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. So today also with range bound action all day nifty gained 40 points in last 1 hour. so what to expect tomorrow also monthly close volume is rising and only 250 points from Nifty's ATH. BNF already broked ATH and doing good in sustaining it. Trade Setup for tomorrow: 1. If opens flat will wait for rising triangle to break up or down and will long or short according break side respectively. 2. If opens gap up above Triangle pattern will wait price to take support on that resistance or not if it takes support then will look for buy for target for Rising wedge trendline. if it doesn't hold near resistance then will short for target of rising trendline support. 3.) If opens gap down will look for price to take support near last 2 days lows ( PDL) if it takes supports there then will look for long for target of todays high. if doesn't takes support near PDL then will look for short for target of gap filing which is at 18510. also nifty is trying to consolidate like BNF To reach new highs and its good as it makes base for good support. Views are bullish on nifty to make new highs soon. Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .
NSE:NIFTYLong
by TradeInsights
WA INC - 7683 JPY - Trend Value Trigger=============================TRADE LAYOUT============================ 1. IDENTIFY THE TREND a) Series of new higher high swing and higher low swing: YES b) 10 EMA > 30 EMA > 50 EMA: YES c) EMAs pointing upwards: YES d) Output: UPTRENDING MARKET e) Bias: LOOKING FOR LONG OPPORTUNITIES CLOSE TO VALUE AREAS 2. IDENTIFY THE VALUE AREA a) 10 EMA: OFFERING SUPPORT SINCE END OCTOBER, 2022 b) 50 EMA: - c) Support area: - d) Demand area: - e) Trendline: - 3. LOOK FOR A TRIGGER IN THAT AREA a) Candlestick pattern: BULLISH MARUBOZU b) Break of structure in the lower timeframe: - 4. SET A STOP LOSS a) 1 average bar size (14 periods) below the value are: 3100 JYP (10 EMA - 87 JPY) b) 1 ATR below the value area: - 5. SET A TARGET a) Resistance area: b) Supply area: JPY 4200 - JPY 4400 c) 10 EMA: - d) 50 EMA: - e) Trendline: - 6. POSITION SIZE / RISK MANAGEMENT: a) No more that 1% of your total equity at risk on an single trade, therefore: (Stop Loss (set logically as per above) / Entry Point) x 100 / Total Equity < 1 b) No more than 30% of your total equity at risk at any given moment =============================WHY?=================================== Put simple (and it is): WHY TRADING WITH THE TREND? The trend is your friend. Trends do bend, but until that unavoidable moment comes, the odds get tacked on your side if you trade in the same direction of the trend. WHAT IS A VALUE AREA? Just an area where the odds are, the bulls will step up and support the price, or the bears will step up and stem a sell off. WHAT MAKES YOU THINK YOU CAN IDENTIFY THEM? Rational behavior from big institutions, herd behavior, quantitative anchors, qualitative anchors from other traders. These are usually translated into price movements, price movements that leave traces, even patterns. Let me give you a couple of examples for argument's sake: a) You want to fly to Japan, so you jump into your flight tickets' website to purchase your tickets. Today you see that the price of a ticket is 500$. You think it is too expensive, so you decide to wait for tomorrow to check if the price decreases. Tomorrow you check again, and now the price is 600$. What do you do next? Perhaps you wait another day, and then you see the price getting back to 500$, those 500$ now look cheap to you so you buy (support). Or perhaps then it becomes 700$ and the FOMO kicks in and you buy because tomorrow it might as well be 800$. b) Investment Fund Warren Buffet and Co has done their due diligence, applied their fundamental assessments and decided stock X is cheap at 10$ and purchased stock X, which happened to be trading at 10$. Like a ton of stock, billions worth of it. A month later, after stock x rallied, it got back to trading at 10$. Unless the macro situation has dramatically changed, what do you think Hedge Fund Warren Buffet and Co will do now? c) Richcoin is trading at all time highs. Everyone in your neighborhood holds richcoin. The cab drivers are thinking of quitting their jobs because they hold richcoin. Are you really going to be the only loser who does not buy richcoin? - Herding. d) Investment Fund Jesse Livermore and Co has stacked loads of shares of stock Y. It has already started to conduct a marketing campaign. Since it is necessary for the public to buy and price up their stock, they can risk having an early sell off in their stock hampering their campaign. So they can't risk having the public panicking with sharp price declines … yet. So what happens when the price touches key EMAs like the 10 and the 50 (w), they support the price and the uptrend. Behaviors like these echo through the markets. And they leave traces. WHY DO YOU NEED TO IDENTIFY THESE AREAS? Because you want one of two things: 1. Your idea is supported by the team you chose to support. 2. Your idea is not supported but in any case you get the chance to know that immediately and not waste further time and money with your idea HOW ABOUT THE TRIGGER? WHY DO YOU NEED IT? Ok, the price is trading in a value area. But can you really tell in which direction it is moving now? Well, you never, but if you identify a directional pattern springing in that area, then once again you stack the odd on your side if you just follow that direction, even though shakeout will sooner or later knock on every trader's door. AND POSITION SIZING? This should even have been rule number zero. Nobody, and I mean, nobody knows the future. No technical analysis or fundamental or whatsoever, will ever save you from the uncertainty of the future and the complexity of reality. That means that this is a game of stacking odds in your favor, not aiming at certainties. That means that this is a game of guaranteeing your survival in the markets each day, to make sure you have an everlasting exposure to favorable odds and positive black swans. ==================================================================== Having this said, discretionary trading is a heavy burden, so many choices, so many doubts … At a certain stage of your development as a trader you will realize that setting a quantified trading system, which translates these biases and ideas into numbers, conditions, signals and commands, and is time tested, is your next step as a trader. If that's the stage where you're at, then feel free to drop by my store for backtested, quantified trading strategies across all markets and asset classes. Cheers, Tenacious Tribe - Back Tested, Quantified Trading Strategies & Studies 50% discount on all products! Use code MOX Q3C WXRX on our website to unlock this limited offer.
TSE:7683Long
by ruben_rodrigues
5/23: Market Recap, Outlook, and Trading PlanToday's Recap The failed breakdown, my primary setup, and how it leads to profitable trades are all covered in this newsletter. Along with providing the day's workable trade plan, I also discuss how I've been managing my long since last week. Market cycles between Trend and Chop are common. Our 105-point rally last week was an extreme Trend, and it was followed by an untidy Chop as a base was being built. It's crucial to keep in mind that nobody can forecast intraday price movement, especially in Chop. When a setup triggers, a trader's responsibility is to respond and manage the trade using a predetermined procedure. Debt Ceiling Crisis The United States government is facing a debt ceiling crisis. The debt ceiling is a limit on the amount of money the government can borrow to pay its bills. The government is currently about $28 trillion in debt, and the debt ceiling is set to be reached on June 1. If the government does not raise the debt ceiling, it will be unable to pay its bills and will default on its debt. This would have a devastating impact on the economy, leading to a recession and a loss of jobs. Congress is currently negotiating a deal to raise the debt ceiling, but there is no agreement yet. The Republicans are demanding spending cuts in exchange for raising the debt ceiling, while the Democrats are refusing to make any cuts. The debt ceiling crisis is a major threat to the economy. It is important for Congress to reach a deal to raise the debt ceiling as soon as possible. Bond Yield Rates The yield on the 10-year Treasury note opened at 3.717% today. The rise in bond yields is due to concerns about the debt ceiling crisis and the prospect of higher inflation. Higher bond yields make it more expensive for businesses to borrow money, which can slow down economic growth. They can also make it more expensive for consumers to borrow money, which can lead to a decline in spending. The rise in bond yields is a sign that investors are worried about the future of the economy. It is important to watch bond yields closely, as they can provide early warning signs of a recession. Key Structures Key market structures I'm tracking include: The pink triangle that contained all of last week's action pre-breakout A 2-day triangle since Friday The 4166-71 area The large broadening formation pattern in blue Due to ongoing debt ceiling negotiations, there is increased headline risk and risk of large, bi-directional moves out of nowhere. The Week-Long Triangle Structure This structure triggered the recent breakout. The market dynamics can be summarized as follows: Bulls control above the structure Bears control below the structure The back-test level is now 4140-42. The Yellow Uptrend Channel This structure, connecting the May 4th low and this week's low, is a crucial support area at around 4140-42. Bulls will want to hold this structure. Supports and resistances are listed, and I discuss potential bids and trade scenarios for both bull and bear cases. In summary, 4195-4220 is chop, and there is a heavy headline risk due to the debt ceiling. Support Levels As long as 4147 holds, we continue our upward trajectory. The 4140-42 area, derived from the triangle structure and the yellow uptrend channel, is an obvious structure bulls want to hold. 4205, 4195-97 (major), 4191, 4180, 4167-71 (major), 4155 (major), 4144, 4130-35 (major), 4123, 4112, 4097-4100 (major), 4092, 4077-80 (major), 4069, 4061, 4053 (major), 4041 (major), 4015-20 (major), 3995 (major) Resistance Levels Initial resistance was at 4192, acting as a magnet, as previously identified. According to the blue broadening formation, the next major resistance level is now at 4242. 4217-20 (major), 4231, 4240-42, 4248 (major), 4261 (major), 4268, 4280 (major), 4288, 4306 (major), 4319, 4325-30 (major), 4342. Trading Plan As long as 4195 holds, we keep filling out the triangle, targeting 4231, 4242+. If 4195 fails, we start the sell and I'd be looking to go short. Wrap Up Never fight the trend. Stay patient and adhere to your trading plan. Follow the key structures, resistance, and support levels closely. Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decisions.
CME_MINI:ES1!
by spytradingpro
Calculating Lot Sizes Just Got EasyIn the world of forex trading, achieving consistent profitability requires not only sound strategy but also effective risk management. One crucial aspect of risk management is determining the appropriate lot size for each trade. In this blog post, we will explore the best methods for you to calculate lot size, emphasizing the use of tools available on TradingView, a popular trading platform. Understanding Lot Size Lot size refers to the volume of your trade and is measured in units of the base currency. It plays a significant role in determining the potential profit or loss of your trade. By selecting an appropriate lot size, you can maintain control over your risk exposure and align your trades with your overall trading strategy. Utilizing TradingView Tools TradingView offers you two valuable tools, the Short Position Tool and the Long Position Tool, which assist you in evaluating the true reward-to-risk ratio of your trades. These tools enable you to make informed decisions by considering the potential profit against the predefined risk. By assessing the reward-to-risk ratio, you can determine the viability of a trade and make adjustments as necessary. Calculating Lot Size Using TradingView's Order Panel To calculate your lot size on TradingView, you can leverage the platform's Order Panel feature. The Order Panel provides you with a convenient way to input your trade parameters and receive lot size recommendations based on your risk preferences and account balance. By using this built-in functionality, you can quickly determine the appropriate lot size for each trade without the need for complex manual calculations. Lot Size Calculation Formula Alternatively, you may choose to calculate your lot size manually using a straightforward formula. Here's the formula you can use: (Account Balance * Risk Percentage) / Stop Loss in Pips = Lot size $25000 * 1* = $250/30= 41,666 units or $4.16 per pip or 0.41 lot size To utilize this formula, you need to know your account balance, the percentage of your account balance you are willing to risk on a trade, and the distance of your stop loss from the entry price, expressed in pips. By plugging in these values, you can derive the appropriate lot size that aligns with your risk management strategy. Conclusion Calculating lot size is an essential aspect of your forex trading journey that directly influences your risk management. Simplifying this process enables you to focus more on your strategy and execution. TradingView offers you valuable tools such as the Short Position Tool and the Long Position Tool, which provide insights into the true reward-to-risk ratio of your trades. Additionally, TradingView's Order Panel streamlines the lot size calculation process. Alternatively, you can utilize a simple formula to manually calculate your lot size. By adopting these methods, you can enhance your risk management practices, leading to improved trading outcomes. Remember, successful trading involves comprehensive risk management, and calculating the appropriate lot size is a crucial step toward achieving long-term profitability. Shaquan
by ShaquanLopez
3
Market Reversal Fueled by Biden's Positive Remarks on US - NQM In today's trading scenario, we witnessed a fascinating turn of events. The market initially opened with a downward wick, touching the previous day's closing level and the London session's support. However, the tide swiftly turned, largely attributed to President Biden expressing positive sentiments about the avoidance of the US debt ceiling. This optimism sparked a notable shift in market sentiment. The levels I outlined at the open were as follows: Downside: 13505, 13483, 13460, 13430 Upside: 13540, 13575, 13600, potentially reaching as high as 13660. These levels served as significant benchmarks for today's trading. The upside, though, ventures into somewhat uncharted territory as we have not tested these areas since the highs of August 2022. As we tread these waters, it's crucial to remain vigilant and adaptable to the market's responses to macroeconomic news and global sentiment. Stay tuned as we continue to track the market's reaction to these crucial levels, and navigate our trading strategies accordingly.
CME_MINI:NQM2023Long
by Pablo_The_Latin_Trader
⚙️Creating a Trading Plan⚙️📍Creating a trading plan and trading journal are two important steps in developing a successful trading strategy. Backtesting is also a crucial component of any trading plan. Here are the steps you can follow to create a trading plan, trading journal, and backtest your strategy. 🔷Define Your Goals and Risk Tolerance The first step in creating a trading plan is to define your trading goals. You should have a clear idea of what you want to achieve with your trading, such as making a certain amount of profit per month or year, and how much you are willing to risk on each trade. Your risk tolerance will also play a role in determining your trading strategy. 🔷Choose Your Trading Methodology The next step is to choose your trading methodology. There are many different trading strategies, such as trend following, momentum trading, and mean reversion. You should choose a strategy that fits with your goals, risk tolerance, and trading style. 🔷Define Your Trading Rules Once you have chosen your trading methodology, you need to define your trading rules. Your trading rules should cover when to enter a trade, when to exit a trade, and how much to risk on each trade. Your rules should be clear, objective, and based on your trading methodology. 🔷Create a Trading Journal A trading journal is a record of all your trades. It is important to keep a trading journal so you can analyze your trading performance over time. Your trading journal should include the date and time of each trade, the entry and exit price, the size of the position, and the reason for entering the trade. You can use a spreadsheet or a specialized trading journal software to keep track of your trades. 🔷Backtest Your Strategy Backtesting is the process of testing your trading strategy on historical data to see how it would have performed in the past. You can use specialized backtesting software or create your own backtesting tool using spreadsheet software. Backtesting allows you to refine your trading strategy and identify its strengths and weaknesses. 🔷Analyze Your Trading Journal After you have started trading, you should analyze your trading journal regularly. Look for patterns in your trading performance and identify areas for improvement. You should also review your trading plan and adjust it as necessary. 📍Key Takeaways: 🔸 Defining your trading goals and risk tolerance is important before creating a trading plan. 🔸 Choose a trading methodology that fits your goals, risk tolerance, and trading style. 🔸 Define clear, objective trading rules based on your trading methodology. 🔸 Keep a trading journal to record all your trades. 🔸 Backtest your trading strategy to refine it and identify its strengths and weaknesses. 🔸 Analyze your trading journal regularly to identify areas for improvement and adjust your trading plan as necessary. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
4
⌛ It's Just A Matter Of Time📍Journey Of a Successful Trader No one started as a good trader. Every profitable trader was once a newbie. The journey of a successful trader is filled with challenges, hard work, and perseverance. It begins with a strong desire to learn and a commitment to become an expert in the markets they are trading. 📍The Right Path To Reach The Top 🔹Learn the basics of Trading 🔹Pick a Strategy that you fully understand 🔹Trading plan customized to your lifestyle 🔹Back Testing your strategy and plan 🔹Review your Trades, calculate your expectancy 🔹Demo Trading to build basic knowledge 🔹Live Trading, Manage your risk and emotions 🔹Professional Trader 📍Summary The first step in the journey is to acquire the necessary knowledge and skills. This includes learning about the financial markets, technical analysis, risk management, and trading psychology. Successful traders also develop a trading strategy that fits their personality and trading style. Once they have acquired the necessary knowledge and skills, successful traders spend countless hours studying the markets, analyzing charts, and monitoring news events that may impact their trades. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
4
Let's Talk About "Perspectives"Let's talk about the perspectives people often bring up in trading . . . Under various conditions, such as different market trends, timeframes, strategy logics, and technical analyses, everyone's view and perspective on the market varies. TV is filled with people's opinions and perspectives on market trends. Some people seek validation from others, while some wish to share what they believe to be profitable opportunities and be appreciated for it. Sharing perspectives sometimes tie down traders as well, limiting them to their own published analysis articles and ego, causing some people to be unwilling to admit their mistakes and seize the next trading opportunity. Regardless of the validation of these opinions and perspectives, we must admit that every profitable trade has an element of "Luck" involved. "NO ONE WINS EVERYTRADE". . "And what's more interesting Is that if you find two long-term, consistently profitable traders, they are very likely to have completely opposite views on the same trading product at the same time, but both of them still stay profit." . . . I believe that when a mature trader being asked about their opinions or perspectives, they should be able to clearly differentiate between their views and their trading plans. Possible question and responses include: 1. "Asked about the upcoming market trend" I currently have a positive outlook for a specific period of time, believing that the market may rise (or fall). However, I'm not certain if I'm correct. If things go wrong, I will cut my losses according to my trading plan. Admitting mistakes and respecting the market. Search for the next trading opportunity. 2. "Asked about positions and trading opportunities" I am temporarily trading "Target" in the direction of a rise (or fall), but I do not recommend anyone to follow my trade because I have no idea if my next trade will be profitable. What I do know is that I can achieve my deserved expected return through long-term trading. 3. "Asked about specific trading methods" I cannot give you specific advice, as I don't know how much capital you have or how much risk you're willing to take. Everyone's pursuit of returns and tolerance for losses are different, which will be reflected in the trading strategies they use. 4. "Asked about medium to long-term future trends" I am a trader, not a financial expert, and definitely not an economist. Predicting the future is too difficult, even for Nobel Prize-winning economists, who may not be able to forecast market trends right as well. So, what I can do is play the role of a good observer, watch price trends for potential trading opportunities, and make the most cost-effective trades or positive expected value trades. 5. "Asked about making money in short-term trading" In the short term, there is a high probability that my trades will incur losses, and speculative trading can also result in terrible consecutive losses. However, I am fully aware of the expected win rate and returns for each trade. Through each trade, I accumulate expected value and manage my funds with proper risk control. I believe that time and a large number of trades will realize this expected value. . . . This is also why I am not very willing to share trading opportunities directly. . . . I am very clear that my trading pattern has a win rate of less than 45%, and I am quite certain that following my trades is more likely to lead you to stop-loss. More scenario below: A. If I share an opportunity and make money by being right, there might still be people who lose money because they set different trading plan and can't tolerate fluctuations. B. If I share an opportunity and lose money by being wrong, you could find me to blame. However, everyone needs to take responsibility for their own profits and losses because it's your money and your decisions. C. If you follow my trading plan and gain profit. You learn nothing about it. Also one trade's win/loss most likely depands on "Luck". Not so much different from "Gamble". Of course, occasionally drawing some charts to remind everyone of the current general trend direction is not a problem! In the short term, "Luck" is essential for speculation, and I hope everyone can have good fortune. . . . I am Beta, If my articles are helpful, please leave a "like" or "comment", and "follow me" for more good stuff.
SP:SPXEducation
by Eleta1228
3
25 Trading Rules for Guaranteed Success!Hi traders! Before we dive into the 25 trading rules that can lead you to success, let's take a moment to reflect on this three things that are key to successful trading: First, there's " content. " This is all the information that traders use to make decisions, both from the market and from their own gut. It's really important to have access to reliable and up-to-date info, so you can avoid making costly mistakes. The second thing is " mechanics. " This is all about how you actually trade: the tools you use, the strategies you employ, and so on. It's crucial to master these mechanics before you can hope to make any money. Finally, there's " discipline. " This might be the most important of all. You need to be disciplined in your approach to trading, making smart decisions every time and sticking to your plan. It can be tough, but it's absolutely essential for long-term success. To help with this, you might consider reviewing a set of trading discipline rules every day to keep you on track. To improve your trading discipline, it's important to consistently reinforce good habits. Consider reviewing these 25 rules of trading discipline daily before beginning your trading session. It only takes three minutes, and it can help remind you how to conduct yourself throughout the day. Think of it as a helpful routine, like saying a prayer or setting intentions for the day ahead. #1 - DISCIPLINE PAYS OFF: MAXIMIZING PROFITS IN THE MARKET When it comes to trading, being disciplined pays off. If you can maintain discipline, you're more likely to make profits and avoid losses. The market rewards traders who can stay focused and make rational decisions. Remember, discipline equals increased profits. #2 - STAY DISCIPLINED EVERY DAY AND THE MARKET WILL REWARD YOU, BUT DON'T CLAIM TO BE DISCIPLINED IF YOU ARE NOT 100% OF THE TIME. It's crucial to be disciplined in trading, but it's not a part-time commitment, like saying you quit smoking but still sneaking a cigarette. If you're only disciplined in nine out of ten trades, you can't consider yourself a disciplined trader. It's the one undisciplined trade that can seriously harm your overall performance. Discipline must be practiced in every trade, every day, and only then will the market reward you. #3 - ADJUST YOUR TRADE SIZE WHEN TRADING POORLY Many successful traders abide by this rule. Instead of continuing to lose money on multiple contracts per trade, why not lower your trade size to just one contract on the next trade and save yourself some cash? Personally, I lower my trade size to one contract after two consecutive losing trades. Once I have two profitable trades, I increase my trade size back to its original amount. Think of it like a baseball player who has struck out twice. The next time at bat, he adjusts his grip on the bat and shortens his swing to make contact. Similarly, in trading, adjusting your trade size and aiming for just a small profit or a break-even trade can help turn your losing streak around. Once you've got two consecutive winning trades under your belt, you can increase your trade size again. #4 - NEVER TURN A WINNER TRADE INTO A LOSER ONE We've all been tempted to break this rule before, but we should aim to avoid it in the future. The root of the problem is greed. The market moved in our favor and gave us a profit, but we weren't satisfied with a small gain. Instead, we held onto the trade hoping for a bigger profit, only to watch the market turn against us. We hesitated and the trade turned into a significant loss. There's no need to be greedy. It's just one trade. You'll have many more opportunities throughout the day and in future trading sessions. The market always offers opportunities. Remember that one trade shouldn't make or break your performance for the day. Don't let greed ruin your trades. #5 - DON'T LET YOUR BIGGEST LOSS EXCEED YOUR BIGGEST WIN It's a good idea to keep track of all your trades during a session. By doing so, you'll have a better understanding of your performance and be able to make better decisions. Let's say your biggest win so far in the day is 30 Pips on EUR/USD. If you have a losing trade, make sure it doesn't exceed those 30 Pips. If you let a loss go beyond your biggest win, then when you calculate your total gains and losses, you'll end up with a net loss. That's definitely not what you want, so be careful and stick to your plan. #6 - DEVELOP A CONSISTENT METHODOLOGY AND STICK TO IT: AVOID CHANGING STRATEGIES DAILY To be a successful trader, it's important to have a solid game plan. This means writing down the specific market setups or prerequisites that need to happen for you to enter a trade. Your methodology doesn't have to be anything fancy, but you should have a clear set of rules or price action that you follow in order to make trades. If you're using a proven methodology and it doesn't seem to be working in a particular trading session, don't try to come up with a completely new strategy overnight. Instead, stick with what works and has been successful for you in at least half of your trading sessions. Having a consistent methodology will help you make more informed and confident trading decisions. #7 - BE YOURSELF. DON’T TRY TO BE SOMEONE ELSE. In trading, it's important to be yourself and not try to be someone else. It can be tempting to try and emulate successful traders or follow their strategies, but ultimately, you need to find what works for you. Everyone has their own unique personality, risk tolerance, and trading style. Embrace your strengths and weaknesses and develop your own approach. Don't compare yourself to others or try to be someone you're not. The most successful traders are those who stay true to themselves and their own strategies. Remember, you are the only one who knows what's best for you and your trading journey. #8 - ALWAYS PRESERVE YOUR CAPITAL: PROTECT YOUR ABILITY TO TRADE ANOTHER DAY Always prioritize protecting your capital in trading. It's important to never risk more than you can afford to lose, as the consequences can be devastating. One of the worst feelings in trading is not being able to continue because your account equity has dipped too low. To avoid this, I suggest setting a daily loss limit that you stick to, such as $500. If you hit that limit, it's time to turn off your computer and call it a day. Remember, you can always come back tomorrow with a fresh mindset and a new opportunity to trade. #9 - EARN THE RIGHT TO TRADE WITH BIGGER SIZE To earn the right to trade with bigger size, it's important to prove that you can consistently generate profits with smaller trades. Traders who rush into larger trades without sufficient experience and success are putting themselves at risk of significant losses. By demonstrating discipline, patience, and a solid track record of profitable trades, traders can gradually increase their position size and take on more risk as their skills and confidence grow. Remember, trading with bigger size is a privilege that must be earned through diligent practice, hard work, and a commitment to continuous improvement. #10 - HOW TO CUT YOUR LOSSES IN TRADING It's important to remember that having a losing trade doesn't make you a "loser." However, if you don't exit the trade once you realize it's not working out, then you're not making smart decisions as a trader. Trust your gut - if you have a feeling the trade is no good, it probably isn't. It's better to exit the trade and cut your losses rather than risk losing even more money. Every trader experiences losing trades throughout the day, including myself. On average, I have about one-third of my trades as losers, one-third as break-even trades, and one-third as winners. But the key is to exit losing trades quickly so they don't end up costing you too much. By doing this, even though I have more losing and break-even trades than winners, I still end up going home with a profit. #11 - THE BENEFITS OF TAKING A SMALL LOSS EARLY IN TRADING Sometimes traders in the pit will joke around and say things like "You're not a loser until you get out" or "Not to worry, it'll come back." But in reality, these phrases are just affirmations that it's time to exit a trade when it's not working out. Once you recognize that a trade is no good, the best thing to do is to exit immediately. Don't wait and hope that it will turn around. It's never a good idea to let losses pile up - cutting your losses early is a smart move that can help protect your capital and keep you in the game for the long run. #12 - WHY HOPING AND PRAYING IN TRADING IS NOT A WINNING STRATEGY As a new and undisciplined trader, I used to pray to the "Bond god" whenever I found myself in a tough trade position. I hoped for some sort of divine intervention to save me, but it never came. I eventually learned that praying to any "futures god" was a waste of time. The best thing to do is to just get out of a bad trade and cut your losses. Trusting in your own trading plan and strategy is much more effective than relying on luck or divine intervention. #13 - WHY TRADERS SHOULDN'T WORRY TOO MUCH ABOUT NEWS IN THE MARKET. IT'S JUST HISTORY... As a trader, it can be tempting to constantly monitor news and events in the market. However, it's important to remember that news is just history. By the time it reaches the public, it has already been factored into the price of assets. So, worrying too much about news can actually be detrimental to your trading strategy. While it's important to be aware of major news events, such as economic reports or geopolitical developments, it's not necessary to react to every piece of news that comes out. Instead, focus on developing a solid trading plan based on technical analysis and risk management strategies. Stick to your plan and don't let emotions or external events dictate your trades. Ultimately, successful trading is about making informed decisions based on market data, not reacting impulsively to the latest news headline. So, don't worry too much about news in the market. Remember that it's just history, and focus on developing a disciplined and informed trading approach. #14 - DON'T SPECULATE , IF YOU DO, YOU WILL LOOSE Speculating in the financial markets can be tempting, especially when you see others making big profits. However, it's important to remember that speculation is risky and can often lead to losses. When you speculate, you are essentially making a bet on the future direction of a particular asset or market, without having a clear understanding of the underlying fundamentals. The problem with speculation is that it's based on assumptions and predictions, which are often influenced by emotions and biased opinions. This can lead to overconfidence and a false sense of security, which can quickly evaporate when the market turns against you. Instead of speculating, it's important to focus on sound trading principles such as risk management, discipline, and a solid trading plan. By following these principles, you can reduce your exposure to risk and increase your chances of success in the long run. So, if you want to avoid losses and build a sustainable trading career, avoid the temptation to speculate and focus on the fundamentals. #15 - EMBRACE LOSING TRADES: LOVE TO CUT YOUR LOSSES "What do you mean by love to lose money? Are you crazy?" Well, no, I'm not crazy. What I mean is that you should accept the fact that losing trades are part of the game in trading. The key is to get out of your losing trades quickly and love doing it. By doing so, you can save a lot of your trading capital and become a better trader in the long run. So, don't be afraid of losing, embrace it and learn from it. #16 - WHEN TO EXIT A TRADE: SIGNS IT'S NOT GOING ANYWHERE Have you ever noticed when the market is just not moving? It's like everyone is content with the current prices, and no one is really interested in buying or selling. Well, when this happens, it's time to take a step back and wait for the market to heat up again. There's no point in wasting your time, energy, and money in a stagnant market. It's better to wait for the right opportunity to place your trades and make some profit. Trust me, it'll be worth the wait. #17 - BIG LOSSES: THE DAY KILLER When you suffer big losses, they can ruin an entire day's worth of hard work in achieving small wins. Not only that, but they can also take a toll on your psyche and emotions, leaving you feeling defeated and demoralized. It can take a significant amount of time to regain the confidence that you once had before the big loss. It's important to keep this in mind and manage your risk appropriately to avoid such setbacks. #18 - THE POWER OF CONSISTENCY IN TRADING: DIGGING YOUR WAY TO SUCCESS Consistency is key when it comes to successful trading. Making a little bit every day and consistently digging your way towards success is much more effective than taking big risks and filling in your progress with losses. By focusing on consistency, traders can build a solid foundation for long-term success in the market. It takes discipline, patience, and a willingness to stick to a well-defined strategy, but the rewards can be significant. So dig your ditches and don't fill them in, and with time and effort, you'll see the power of consistency in action. #19 - CONSISTENCY BUILDS CONFIDENCE AND CONTROL And Again...Consistency is a key component in achieving success in any area of life, including trading. When you consistently follow a trading plan, execute your trades with discipline, and manage your risk effectively, you build confidence in your abilities and gain control over your emotions. This confidence and control can help you navigate the ups and downs of the market with a clear head, and ultimately lead to greater success in your trading endeavors. #20 - LEARN TO SCALE OUT YOUR WINNERS Scaling out winners means taking partial profits on a winning trade instead of closing the entire position at once. This approach helps traders lock in profits and reduce risk by allowing them to ride the remaining portion of the trade with less pressure. Learning to scale out your winners requires discipline and a solid understanding of your trading plan, but it can be an effective strategy for maximizing gains while minimizing losses. #21 - MAKE THE SAME TRADES OVER AND OVER AGAIN Making the same trades repeatedly might seem boring, but it's an essential strategy for successful trading. By mastering a few reliable setups, you can gain a deeper understanding of the market and become more confident in your decision-making. Remember, consistency is key, and repetition is the foundation of mastery. #22 - DON'T ANALYZE, PROCRASTINATE OR HESITATE Over-analyzing, procrastinating, and hesitating are common pitfalls that many traders fall into. However, these behaviors can lead to missed opportunities and ultimately, losses. It's important to have a clear plan and execute it without hesitation. Don't let analysis paralysis get in the way of taking action in the market. Remember, in trading, time is money, and every second counts. #23 - STARTING AT ZERO: THE BEHAVIORAL KEYS TO TRADING SUCCESS Every trading day is a fresh start for everyone, with each of us beginning at the same level playing field. But as soon as the market opens, it's our actions and mindset that determine our success or failure. Adhering to the 25 Rules can lead to profitability, while neglecting them can result in poor performance. So, it's up to us to approach each trading day with discipline and focus to achieve the desired outcome. #24 - THE MARKET: THE ULTIMATE JUDGE The market is the ultimate judge and jury in the world of trading. No matter how good a trader you think you are, it is the market itself that determines your success or failure. Respect the power of the market and learn to adapt your strategies accordingly. #25 - STICK TO YOUR PLAN: THE FINAL RULE OF TRADING The last and most important rule in trading is to repeat your trading process every day and focus solely on your own trading plan. Avoid following others' ideas and stick to your own strategy. Consistency is key, and by repeating your process every day, you will build discipline and increase your chances of success in the market. Thanks
PEPPERSTONE:XAUUSDEducation
by FOREXN1
12
XAUUSD - KOG REPORT!KOG Report: In last weeks KOG Report we said we would be looking for the support levels to hold to give an opportunity for the long trade before we then see a reaction in price. We then said we would be looking at the higher levels to confirm the resistance before we attempt to take the short trade back down. We plotted the immediate support level with a circle around the 1950-55 region and then gave the two higher levels we would be looking for, also circled on the chart. There were only 3 points of contact we were looking for combined with the weekly chart level we had added in March for the bullish target. As you can see from last weeks KOG Report, we completed a point to point, level to level move timed to perfection again, just like we do day in, day out in Camelot. 4H chart levels were completed as well as the weekly target plotted on the 19th of March where we got a TAP AND BOUNCE. So, what can we expect in the week ahead? We’ll start by saying, due to it being the holiday weekend we’re very likely to see gaps on opening across the market, especially due to the NFP release on Friday which happened while many instrument were closed. For that reason, we’ll say take this as reference for Monday and we will update it on Tuesday once we have a clearer picture. For the week we will be looking at the support levels 1980-85 as the first point of contact, this is where we need to see a gap down to (if it happens) before an attempt on recovery. Below there we have further key level support around the 1960-55 level, we want price to stay above this level to resume the move to the upside, otherwise we may see a deeper correction. We have an Excalibur target below which hasn’t been hit, this is something we will be looking for in the early part of the week if the price continues the retracement. The higher levels are now the target levels for the long trades, this is based on clean support and any gaps being filled in the early part of the week. The ideal target here for the long trades is first 2035 and then above that the 2045 level. We’re again long level to level with the plan to short the market from higher up, if we get there. Best practice in this environment is to sit out the opening and the early sessions, let them move the market and create the mess they want to, once settled, then start looking for the set up. We’ll be doing the same in Camelot targeting the Excalibur targets once the price market has found its feet. Expect another week of aggressive, whipsawing and choppy price action, so please be careful, control your lot sizes and make sure you have a risk model in place. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
4
USDCAD Long EOD strat© BNPP Global FX Positioning Tracker: CAD shorts extend • In G10, FX USD shorts reduce slightly to -17 from -18 last week (+/-50 scale), as our proxy for real money investors reduces shorts. • CAD shorts extend to -23 from -15 last week, as our proxy for electronic trading venues extends shorts and our proxy for real money investors unwinds longs. Technically the US dollar index is pushing higher and making a go at a bullish trend. We are seeing the US10 year yields at elevated levels and uncertainty in the equities. Oil is below the average price level of around $80 and supporting fiscal flows in the US economy are high.
Long
by Macrobriefing