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CADNZD

Weekly forex outlook: November 20

Last week was the first week after the US presidential elections, and the markets are starting to settle in their old rhythm again. There were some big moves last week, and I’m happy to see that my weekly forex outlook of last week was right on AUDCAD and AUDNZD. The GBP pairs didn’t really go anywhere but sideways, but that’s the unpredictability of the market for you.

 

The upcoming week

 

Noteworthy economic news for this week is:

  • Monday: ECB President Draghi’s Speech
  • Tuesday: CAD retail sales / US existing home sales
  • Wednesday: US durable goods / US new home sales / US FOMC minutes / EU manufacturing PMI
  • Thursday: German GDP
  • Friday: UK GDP

 

Keep in mind that the US markets are closed on Thursday and will close early on Friday. This is due to Thanksgiving day.  A closed US market usually means that trading slows down a bit and might result in a bit more unpredictable price behaviour. Have a look here to find out more.

 

Also note that the US dollar has been quite bullish recently. This is party because of investors anticipating that the Trump presidency will stimulate the US economy, but also because the December Fed rate hike is now almost a sure thing. Some of the pairs below are reversal setups that imply a bearish US dollar, so I will be extra careful in picking my trades for those US pairs.

 

This week, I’m keeping an eye on the following pairs:

 

Follow my published ideas on TradingView.

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Metatrader price alerts email

Email price alerts in Metatrader 4

Don’t you hate it when you step away from the charts and just at that moment, price makes a big move?

 

You just missed your window of opportunity to enter.

 

This used to happen to me all the time, as if the charts knew I was doing something else. The charts were right.

Metatrader price alert

 

 

I was being frustrated over that missed entry.

 

 

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AUDCAD

Weekly forex outlook: November 13

After a two week break, I’m looking for trading opportunities again! Two weeks ago, days were jam-packed with economic news. Pretty much every major country had interest rate decisions and the US topped it off with NFP results! Last week was the US election, you can read my last forex outlook and analysis here: Weekly forex outlook: November 6.

 

The US election

 

US election

 

After months of build-up, the US election is finally behind us, the majority of the votes went to Trump.

As expected, we saw some big market moves before, during and shortly after election.

 

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Trading movies and documentaries

The best trading movies and documentaries ever

Weekends are a great time to analyse your trades or improve your trading skills. At the same time, you might also like to unwind a bit and enjoy a movie. Over time, I saw some great trading movies and documentaries and today, I want to share them with you.

 

Note: I also wrote about the best trading books
that will help you become a better trader.

 

While a lot of trading movies in the list below are just nice to watch, plenty of them (especially the documentaries) also share a lot of valuable trader’s wisdom. Having a relaxed time watching AND leaning something, talk about a good deal!

 

Trading films camera

 

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Weekly forex outlook

Weekly forex outlook: November 6

Ahh, exciting times! We just had a crazy busy week, jam-packed with high impact economical data (interest rate decisions for the Fed, BoJ, RBA and BoE, NFP data and much more). And just as I’m writing this, we’re heading into US election week! I took a week off from trading last week since these high-risk events are quite hard to predict and I’m in the business of making profits, not trying to guess what the outcome of some central bank policy could be 😉

 

For the upcoming week, I’ll probably be very careful as well and will definitely not be trading US pairs since the US election on Tuesday might shake quite a few things up! Ever since the “flash crash” on GBP a couple of weeks back – combined with uncertainty on Brexit, I’m also very careful with GBP pairs. Aside from the presidential election, next week’s economical news will feature swissy unemployment figures and GBP inflation report hearings on Tuesday, the NZD interest rate decision on Wednesday, ending the week with a speech from Stephen Poloz, governor of the bank of Canada on Friday.

 

Nevertheless, we can still look out for the best setups of the week in our forex outlook. This week, I’m keeping an eye on the following pairs:

 

Follow my published ideas on TradingView.

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Take profit exit strategy

4 take profit exit strategies to make you a better trader

Every day, you spend hours looking for the best setups. Analysing the markets, looking for price action patterns, cross-checking fundamental news, drawing support and resistance on the charts.

 

Finally, you find the perfect trade. It’s a beautiful, triple-A setup! At exactly the right time, you enter an order.

 

But what happens when you’re in a trade? Is your work done?

 

Start on the trade

 

Of course not! It has just started! Trade management and exit strategies are an overlooked part of trading, but so important. I believe it’s even more important than your entry.

 

Exits can make or break your trading strategy.

 

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