Nov20 – Market Analysis

Personal reflections

I am still in the S3S AUDNZD trade.  It traded as low as 1.1247 overnight – this is 22 pips from the target, and represents a move of 35 pips from entry in my favour.  However, overall, it looks as if price has simply been consolidating.  On this basis I lowered my stop to 1.1292 – which is 7-10 pips above the highs of all the prior 4H candles.

A losing session on JBT trading yesterday (and a quick losing trade this morning, -0.9R) – some issues to work through.  But it’s getting there.  Thus far I have done 68 JBT trades, so the numbers are coming together quickly.

Equity Markets – all are trading a bit lower (yesterday and today).  Gold is trading $1,270.

FX Markets

Again, no change in the STAM ratings – ratings are still the same as on Monday.  The same pairs are still in S1 setups. No setups on the Yen pairs. 

Of the other pairs with a S1 setup, only GBPAUD deserves some commentary.  Technically had a bullish 4H corn trade, but the setup is not clean enough – the setup would in fact pass as being strength v weakness/weakening and there has been a good pullback.  In any case, I would not be able to trade this prior to the GBP news at 9.30.

S3 Setups

Checked through all the currency pairs.  There were no valid S3 setups. 


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One Response to Nov20 – Market Analysis

  1. Pingback: 4/11 – Weekly FX Trading & Signs of Progress over last 3 years | Trick or Trade

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