Good morning and a nice Sunday to all you folks! Week ahead in the markets - what it brings, charts & thoughts

in #trading7 years ago

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Hello traders, wish you all a peaceful Sunday. Doing a regular Sunday quick review of the markets. These are some of my thoughts and i welcome you all to constructively comment on these. By no means am i always right but preparedness gives you already a massive edge.

Mondays are often days when i just observe markets, and dip my toe here and there. I suggest some of you try the same approach and see how it works out for you.

So last Friday we had some excellent NFP data rom the US as well good unemployment rate. This gave the U$D the much needed boost. The dollar is really not in the clear yet, but now keep your eyes open for two-way opportunities, as the one-sided brutal dollar selling might have a pause now.

Upcoming heavy-hitting news on Monday

  • NZ inflation expectations around 3 AM (GMT). Should be payed attention to as NZDUSD is already sitting on channel support.
  • As a sidenote, the calendar is marked with Canadian and Australian banking holidays, so don't expect much on these fronts.

Lets take a look at a few charts

DXY weekly. I like where the dollar index stopped. We're not in the clear but game on.
dxy weekly stopped should bottom for a while game on.PNG

EURUSD weekly look at that rejection in the massive resistance area
eurusd 1 weekly look at that rejection in that massive reisstance area.PNG

EURUSD daily, don't get carried away as we are just testing the closest breakout point, where resistance turned to possible support
eurusd 2 daily dont get carried away as we are just testing the closest breakout point where res turned to support.PNG

GBPUSD weekly again a rejection at key area
gbpusd 1 weekly look athis rejection at key res.PNG

GBPUSD technical picture looks bad on daily, so if dollar strength continues, this might be a good sell on rallies
gbpusd 2 daily technical picture looks bad so if dollar strenght continues sell this o nrallies.PNG

USDJPY H4. Denied on first attempt
usdjpy 1 h4 denied on first ateempt.PNG

USDCAD H4 was looking to get just a tiny bit further on the first try, but you see which area we just hit
usdcad 1 h4 was hoping to get just a tiny but further on the first attempt but you see which area wi hit.PNG

EURGBP we talked about this flag some time ago, but were hesitant to take this. Well now the flag is complete.
eurgbp 1 daily about this we spoke soem time ago flag is done.PNG

GBPJPY daily should be paid attention to.
gbpjpy 1 daily should be payed attention to.PNG

NZDUSD daily upward channel and a lot of supports below. Ignoring this as it could get messy
nzdusd 1 daily upward channel and a lot of supports below best to ignore this.PNG

WTI oil massive resistance. I prefer the short side, but as you can see, we have a bullish pennant forming, also this feels like NZD a while ago - should go down, but doesnt.
wti 1 daily massive reistance also i prefer short trader but this is a bull pennant and also feels like nzd pennants can easily fail though.PNG

EURAUD weekly. A reminder that we have a massive bull flag forming on the weekly chart.
euraud 1 weekly reminder.PNG

So guys and girls, this is it from me for today. Looking forward to the new trading week. Trade safe and take care!


For people, who want to connect with me or some other awesome people, look us up in the Minnowbooster Discord #general chatroom here

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Hai @furious-one good

I choose gold and I analyze the gold price will go up or down, if up, I choose to go up and enter the amount to be in trading. Suppose I enter $ 100. If my analysis is right then I can profit 91% of the $ 100 I trade.

If your trading day 3 times with profit 91% each trading means you can get 273% profit a day.

hello @yuliaindra but what about your risk profile? risk:reward must be proper or great wins wont last. Been trading long enough to know that. check risk:reward probabilities here, this will tell you when to change it http://www.equitycurvesimulator.com/

I do not think about it before, I am very grateful for your suggestion @furious-one it is good for my future development.

Awesome post brother! I like that initial picture. It really sets a great mood for the rest of the post :)

I gave you a follow :) Talk soon.

Phworr, that GBP/USD chart looks red hot.

Adding that one to my watch list too :)

it sure does mate :)

Sometimes we do have to think something first before doing something. This is a lesson for me

Upvoted & RESTEEMED :]