USDCHF - Daily. Key level being approached, highlighted in yellow with 3 trendlines also shown. Price previously broke the key level and made a new high. After a retest of the key level it then bounced back. Lower highs have been made now so may see a break of this level to the downside this time around. Time will tell #USDCHF#Forex#Trading#FX#SpreadBetting#Analysis#TechnicalAnalysis
Good Evening Traders and welcome to the Sunday Sequel. Every Sunday we’ll be delving into a trading related topic that will start and remain as very light reading to see out your busy weekend leading into your even busier trading week.
Today we are covering a key question many new and existing traders ask themselves and their trading role models. What should I trade, stocks or forex?
Let’s get right into it. Firstly, as we always mention trading is about finding what’s good for you whether that be strategy, times you trade or what you trade. Same applies here. Some of you might have worked in the airline industry and have key knowledge to enable you to successfully trade Easyjet, American Airlines and so on whereas some of you might prefer and be comfortable with the macroeconomics required in FX, this is an honest conversation you need to have with yourself. But critically it’s about yourself, don’t be influenced by anything else.
Thereafter it’s pretty simple. The FX market is the biggest globally, meaning more liquidity than the stock market. You are not bound by time as the FX market is open around the clock where exchanges will have opening and closing bells. That might be better for those of you struggling to limit your trades or requiring more structure and discipline. Stocks allow you to really focus on 3-4 companies and get familiar with their price action, ranges and overall financial health whereas FX tends to be more volatile and unpredictable. Last and most importantly, are you a day trader or are you a swing trader? Day traders will undoubtedly benefit from the consistent volatility of currency pairs whereas stocks will generally perform more consistently in a range for more of you long term guys. The rest is down to you.
#1 Feeling Anxiety or Overwhelmed Usually stems from Not Having a Plan. When you don’t have your numbers written down, it’s easy to lay in bed at night wondering if you’re on the right track. Once the numbers are revealed, you’ll have less anxiety because you know exactly what’s going on in your finances.
The simple of act of having a plan will actually help you sleep better at night. Regardless of the numbers looking good or bad, getting them down on paper is the start of improvement. The only way you can become better is if you know where you are.
After one of my clients saw her numbers, she immediately felt relieved, saying, “Thanks, Candice! Doing this exercise actually revealed the reason for my recent anxiety." *New post is up click the link in my bio to read it.
Once again, here's this week's trades in $ terms on the same account as last week.
Not every week is going to be profitable.
Take what the market makes available to you. Don't force trade.
Be patient, preserve your capital and wait for high-probability trade setups to form.
Be obsessed with not losing money, NOT making money. 💸
On the USD/JPY, we have broken what appears to be a key support and resistance level. This level has acted as recent support twice; at the beginning of Feb and also during the middle of Feb. We are expecting this level to be retested at the minimum, with expectations for a further decline towards the 107. level at the minimum. In the bigger picture, this move is coming of the 50% retracement we saw on the 10th of March. Follow @BrightForex for more updates!
Even though price is sitting just under some resistance the overall direction is consolidating this is why you have to be careful with USDCAD as I told my telegram channel to take profits... (Correlating pairs) 🔥
Was doing soon well on this pair until abit of news came out and spiked me 😤maybe I moved my SL to break even too soon 🤔 some of the guys in my telegram channel are still in this trade 🙌🏾🙌🏾🙌🏾 hope it still shoots up 🙏🏾 but protect your profits!!!🏅🥇🎖
Gold has been playing games with everyone 😅 personal I believe price may form a triangle pattern before we get any clear direction, that last candle is screaming shorts though but don't be fooled! Wait on it 🔥
LIBRO: "UN PASO POR DELANTE DE WALL STREET"
AUTOR: Peter Lynch
CONSÍGUELO A MUY BUEN PRECIO ENVIÁNDONOS UN MENSAJE PRIVADO
The USD DXY Index is under pressure, with prices extending the sharp fall from the 101.79 high of 14 March.
Falling momentum studies and the bearish Tension Indicator are expected to keep prices biased lower in the coming weeks.
A clear break below the 99.63 low of 6 February will open up critical support at the 99.23 monthly low of 2 February and 99.25, (38.2%) Fibonacci retracement of the 2016-2017 rally.
A further close beneath here will confirm a deeper reaction, as the January bear trend gains traction and investors move to a negative stance.
Next significant support will then be at the 97.90, (50%) Fibonacci retracement.
An unexpected close above the 101.45 high of 20 March will help to stabilise price action.
However, a clear break above the 102.26 high of 2 March is needed to confirm further USD strength, and open up fresh gains towards the 102.70/75 area.
Our most recent USD DXY Index update for the coming weeks, part of the FX Weekly publication, has been published.
It is available for free via our website
The full report covers #USD#DXY , #gbp , #eur , #aud , #jpy , #cad and #chf
This report is seen by #HedgeFunds , #brokers , #asset and #portfolio managers, and can help private #investors with their background research.