I LIKE IT WHEN MY PLAN GOES WELL x 3
It seems like the Ben O Trich Indicator did fairly well.
The EUR/USD did move up a bit.
As we get closer towards the NON FARM PAYROLL MAMBO JUMBO, i will be looking towards booking profits for my short term trades.
The currency pair climbs up and tests 1.4910+. Having done so, it retreats to just below 1.4900.
S&P500 enjoys it's bullish momentum, going beyond strong line 1060, currently testing the region. Be on the look out since this is a technical resistance, tomorrow is NFP and tomorrow is profit taking friday.
Gold in the meanwhile has eased off to be just under $1090.
Oil remains bullish, currently at $78+.
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Folks, i can't help but to say this every month. Non Farm Payroll can be unpredictable and if you are caught in the wrong side of the fence with poor money management, your account may be wiped out.
Unemployment rate is at a high and as long as the NFP decreases each month, the unemployment rate goes up higher!
We may see risk aversion if the numbers are bad.
Bullish momentum will need to clear the 1.4910+ area first.
Bears pushing the price down will need to clear the 1.4865-43 strong zone.
Ben O Trich Indicator says:
Due to the nature and importance of NFP tomorrow, we may see risk aversion appearing if numbers are bad.
The unemployment rate is not getting better and the FEDs has commented that it will keep interest rates near zero for “an extended period” and specified for the first time that policy will stay unchanged as long as inflation expectations are stable and unemployment fails to decline.
Very much may depend on the NFP numbers as a better than expected release may raise positive sentiments too.
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Folks you like the new features? A chat box, a QnA area? This is all part of my hope that all koalas and newcomers to forex have a place to chat and learn together.
Hope you folks will join in and help one and another.
You know what? TOMORROW IS FRIDAY !!!
Time to cash out those pips for a nice cold beer :P
Trade safe!
3 comments:
Cheers to that my friend.
"..Folks, i can't help but to say this every month. Non Farm Payroll can be unpredictable and if you are caught in the wrong side of the fence with poor money management, your account may be wiped out.
.."
...I can't believe that anyone would risk their whole account on a single trade...would they? I look to increase my account by only 6% every month...what does everyone else do?
Hi.. yes very often they don't intend to .. but perhaps not using a stop loss expose them to full risk..
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