Tag: Forex

When Fed Powell hinted several weeks ago that rate hikes were on pause, many experts thought that would hurt the dollar. Low interest rates usually go hand in hand with a weaker currency.  However, the US dollar hit a fresh 2019 high earlier this week.

Since then, a bit of a pullback has developed and price now sits below the 97.00-level on the chart.  With weakness in the Euro and Japanese Yen, and China’s economy slowing down, I think the US dollar is a crowded trade.  There is no other place to turn to, so the US dollar is the lesser

For the week, I had no winners and went 0-4 on trades.

I’m looking primary for Rewards to Risks trades of 5 to 1, making it possible to lose 80% of my trades and still be possible.

Let me give you an example.

Forex Price Action Baby, No Technicals or Fundamentals…Trade #2 – Sold NZD/JPY (2/3/19)

I was stopped out literally by one pip, but the trade would of covered 75% of my losses.

So I believe the message this week is for me to be a bit more conservative with my stops.

The other thing I learned this week…knew, but lived because

For the week, I had no winners and went 0-4 on trades.

I’m looking primary for Rewards to Risks trades of 5 to 1, making it possible to lose 80% of my trades and still be possible.

Let me give you an example.

Forex Price Action Baby, No Technicals or Fundamentals…Trade #2 – Sold NZD/JPY (2/3/19)

I was stopped out literally by one pip, but the trade would of covered 75% of my losses.

So I believe the message this week is for me to be a bit more conservative with my stops.

The other thing I learned this week…knew, but lived because

10,000 Ft View – 4 Hr Chart

Zooming In

This trade entry was yesterday. What I like about the set-up is the strong move away from the level (orange arrow) that took out all of the pivots indicated by the yellow circles.

But what I really like about the zone is all the three mini zones within the bigger demand zone. Thus, if price is going to breach the 4 hr demand zone to the downside, it’s not going to be easy.

This post is my personal opinion. I’m not a financial
advisor, this isn’t financial advise. Do your own

I talked about this set-up the other day.

Forex Analysis Report 2-5-19…Goldman Sachs Expects More Declines On USD/CAD

What’s really cool is the levels Goldman Sachs are looking at, I had already plotted…the Smart Money and I are looking at the same levels.

Today, I shorted USD/CAD when price returned to the daily supply at 1.32700, but was stopped out 4 hrs later.

So why didn’t the trade work out, it met my criteria for a trade?

Renewed pessimism about the strength of the global economy led to the down turn on Wall Street Thursday after European officials slashed their forecast for

10,000 Ft View – 4 Hr Chart

Zooming In

This trade was over even before it started. The entry and stop is 25 pip wide. The entry occurred right before the day session ended at about 4:48 pm. I was stopped out 25 minutes later, when the next day’s session started. The issue was at the beginning of any forex day, there is no liquidity. Thus, the spread on this pair at the beginning of the session was 20 pips. Normally, the spread is 2-4 pips. Thus, I didn’t even have a chance to be right.

The set-up had somethings