Today's 4 HR S&P opening candle (for me) epitomises the trading week so far. Periods of positivity and periods of negativity, with neither action particularly having any 'juice' behind it. It feels like we are 'waiting for something' (NFP?).
Currently, correlations are out of the window and it's difficult.
Sentiment for the JPY remains subdued (rate hike pushed back, if there will be one at all). Which makes the JPY very shortable. But getting the timing correct is easier said than done.
The GBP continues to be remarkably resilient and the AUD continues to under perform its fundamentals.
As things stand, I wouldn't like to hazard a guess at the outcome or reaction to any of the upcoming events (FOMC, NVIDIA, NFP). So, I'm content to observe and form a fresh opinion post NFP.
Yesterday's trade stopped out very quickly, I realise it was bold and unconventional but given the underlying negativity at the time, I still don't think it was the worst idea in the world.
Maybe you have a different interpretation of the week's events so far?
Currently, correlations are out of the window and it's difficult.
Sentiment for the JPY remains subdued (rate hike pushed back, if there will be one at all). Which makes the JPY very shortable. But getting the timing correct is easier said than done.
The GBP continues to be remarkably resilient and the AUD continues to under perform its fundamentals.
As things stand, I wouldn't like to hazard a guess at the outcome or reaction to any of the upcoming events (FOMC, NVIDIA, NFP). So, I'm content to observe and form a fresh opinion post NFP.
Yesterday's trade stopped out very quickly, I realise it was bold and unconventional but given the underlying negativity at the time, I still don't think it was the worst idea in the world.
Maybe you have a different interpretation of the week's events so far?
johnelfedforexblog.ghost.io
In the moment trading decisions, sent via email newsletter with detailed explanation.
In the moment trading decisions, sent via email newsletter with detailed explanation.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
johnelfedforexblog.ghost.io
In the moment trading decisions, sent via email newsletter with detailed explanation.
In the moment trading decisions, sent via email newsletter with detailed explanation.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.