5 Keys to Successful FOREX Trading
The vast majority of people fail to become profitable FOREX traders. Yet, the best ones often have similar traits.
Market Update – September 14
The most bearish time of the year for equities is now through October 9th. 9/10 – QQQ pushed slightly above the noted 279 before turning down. The next level of interest is the long term parallel (magenta line) near 257. The chart with volume studies below highlights some important observations. First, VWAP from the high was resistance today. Second, the importance of 237.50 (February high) is magnified by VWAP from the March low.
Market Update – September 11
My working assumption is that a B wave triangle ended today at 1975.20 (exactly the 8/3 low) in gold. I am bearish against today’s high and looking for weakness lower in a C wave towards 1800 or so by the end of the month.
Sterling Consolidates Ahead of Crucial Brexit Talks
GBP/USD fell to its lowest levels since July 28th on Wednesday, extending losses from the recent yearly high made on September 1st. The same day, the UK government published its Internal Market bill, outlining a plan to breach the pledges in the EU Withdrawal Agreement.
Market Update – September 10
USDOLLAR has yet to break above 12087 and the rally has failed so far a the upper parallel from the Schiff fork off of the March high. I’m still leaning towards action since 7/31 as a base that price will work higher from. Watch for support now near 11973.
Market Update – September 9
QQQ has broken down and the same levels are in focus that were noted yesterday (text below). All I’m adding is that if price bounces from here (a gap up on news tomorrow for example) then 279 is proposed resistance.
Jim Rogers Interview
We caught up with investing legend and global adventurer Jim Rogers to learn about his views on today’s markets.
Market Update – September 8
ES made a bearish weekly volume reversal last week. Since the 2009 low, there have been 3 other bearish reversals and 1 bullish reversal. Reversals in 2010 and early 2018 identified interim highs.
Sterling on the Back Foot As No-Deal Brexit Fears Return
GBP/USD extended its losses in early trading on Monday, after sliding for three consecutive days last week. News that UK Prime Minister Boris Johnson is ready to allow negotiations to fail rather than compromise on certain Brexit principles has driven stering lower.