As per last week’s weekly report to members.
In the current environment these trades playing out over the past 7 – 10 days equate to “monsters” if you ask me.
Long GBP/USD back on like April 17 around 148.50 for 300 pips.
GBP_USD_Forex_Kong_April_20
EUR/USD for a 100 pips
EUR_USD_April_20_Forex_Kong
Markets are set to roll over here, so USD could go either way short term…a continued fall or small bounce before “continued fall lower”.
Biotech leading the charge – getting hammered today…
I’ll bank the cash….sit tight a day er two and reload across the board for continued and “larger gains” short USD and short RISK in general.
I am trying to figure out what demand zones you identified to long at those specific prices. I mean clearly you found the right time to long, but for my own knowledge I am trying to see what convinced you in terms of technical analysis. Care to elaborate?
Thanks.
Hey Hisham.
I’ve got a proprietary trade algo that I pair with my fundamental / longer term trade thesis.
These past few months fundies suggest the market has already rolled over and the technicals keep “begging” for a solid turn lower in USD.
When things “all line up” then I’m golden…its just that this market has been trading so flat for so long….entry and exit get more difficult to identify.
Technical analysis wise Ive got to “at least see change of trend” on a 1 H chart at the very MINIMUM before even considering entering.
Thats why these past few months have been so slow for me trade wise.
Forex pretty much Flat as a pancake for months now.
I understand what you mean. I am fairly new to this but from the knowledge I have garnered the last 2 years, all this sideways trading is scary. I mean short term I guess it is okay to be trading, but long term or even semi long term (if there is such a thing) it is a tough market to read at the moment.
I would love to learn some fundamentals and technical analysis from you. Would be like a dream come true.
Do you ever plan on taking somebody under your wing?
Hey,
I understand what you mean. I’m fairly new to this but from the knowledge I have garnered the past 2 years, all this sideways trading could be dangerous. Short term I’m sure there are still trades to be made. But long term or even semi long term (if there is such a thing) this market is scary. I am finding good supply and demand zones, only to eliminate them after looking into the charts even further – all because of the sideways trading and its confusion.
I would love to learn more about your fundamentals and your technical analysis strategies. Do you ever plan on taking somebody under your wing?
Hisham