Today Marc Pierre and Judith hold another live session showing live trades and ideas for this week.
You can find a link to test drive the trade manager that Marc mentions in the Trusted Products section: Click Here to Check Out the Trade Manager
Marc discusses trade management today and the importance of psychology. Get the stop to break even…it is risk-free, and BE trades may lose but not financially. but when they win they win big.
USDSGD: another stop example…use the weekly,
Marc also looks at USDJPY …order in place at 110 and NZDUSD
EURUSD: looking for a place to put a stop,
The details are already published in Pierre’s blog this morning…here is the list he is watching:
Pierre looks first at EURX: going sideways.
EURUSD: in a triangle, prefer the break to the downside.
EURJPY: big support level.
GBPUSD: all red and start with the direction indicator.
AUDJPY: everything is red.
USDJPY: the bias to look for longs.
USDCAD: watch 55, if breaks down wait for a level of support to long.
USDX: everything is green. Daily fib here,
The main trend still long.
The BOJ caused a stir, starting speculation of a policy change…this strengthened the JPY…, not the risk-off element, but the USDJPY short worked beautifully!
The trade wars is causing more confusion as the Chinese weaken their currency to try to counter the effects of tariffs. Mr. Trump is not pleased and is now criticizing the FED for allowing rates to rise.
I am focused on non-US equity shorts and trying t position for the long haul. You have to be aware of short-term and long-term in such a market as this.
I will go into this more next week and spend more time on risk off trading.
We trade with different styles but a lot of members have other jobs and that means you need to learn the longer time frame. The point is you need to suit your personality and your availability.
We will be back next week as usual…I promise more fundamentals!