It’s easy to get caught up in the day-to-day “up’s n downs” of the markets.
A couple of days go by, you make a buck , then you lose a couple. Then slowly but surely the intraday / micro stuff “becomes your world”. Obsessed with the tiny “zigs and zags” that make up your charts, confounded by the “barage” of daily news – you’ve lost touch. You’ve lost your focus.
Have you forgotten?
Have you forgotten that we are smack dab in the middle of one of the most vicious currency wars of the past few decades – let alone your entire lifetime??
And you wonder why thing aren’t going so well.
A number of prior posts come to mind, in particular: https://forexkong.com/2013/01/31/2013-you-will-never-trade-it/ but that’s beside the point. The point is…..you’ve got to get a handle on you environment before you go running off into the sunset!
The zigs and zags will always be there. It’s the environment that changes.
Do you get all excited about going fishing in the rain?
That being said Japan has no idea what to do with respect to the Fed’s move yesterday, as markets are clearly stunned. My printing press , your printing press etc.. It’s “war on” people – no question about it.
In general we are seeing “all fiat currencies” falling, and it’s only a matter of “which is falling more” when considering your trade plan.
There is no “strength”.
What do you see coming ? What tips the markets? Do you think they are trying to crash …………..
Hmmm looking over things currently…. we have bounced pretty nice here after the wild ride just the other day even going lower for a small stint…… I have three pairs which I continue to track AUD,JPY & CAD & VS. USD…. all of which have entered a squeeze ( With the exception of CAD almost set up now) with JPY leading the set-up & the Aussie just a little behind by 2.5 hrs is set-up run.
I will be looking for the fire in the 30min here to provide some clues as to where we are going from here…. I’ll continue to scalp this TF until the later periods set-up & give a larger more extensive move once they fire & direction is determined,
So again for now things look like they will slow down a little after the moves we have experienced of the last 48hrs!
Cheers Schmed
German election at the weekend. Will it be positive or negative?
Thanks Schmed. Have a great weekend.