5 Mantras For The Developing Forex Trader
Lately I have been spending a lot of time crunching data on some of the forex price action algorithms my programmer and I created, that the data can at times become overwhelming to digest. In times like these, in needing a break, I often enjoy reading something completely unrelated to forex so I can engage other aspects of my brain. Recently, the subject and person which has consumed my...
Read MoreForex Price Action Setups (NY Close) Apr. 30th
Spain Sinking into Recession Hits Markets, Credit Rating Cut Again Spain having its credit rating slashed for the second time in a matter of weeks and sinking into recession has weighed on the markets today. Combine this with the weaker then expected US GDP report on Friday and we have dual concerns of the US economy slowing as well. Keep in mind, the list of shrinking economies in Europe goes...
Read MoreForex Price Action Setups (NY Close) Apr. 26th
Spain’s Credit Rating Cut to BBB+, Housing Data Surprises US Pending Home Sales surprised to the upside giving a brighter outlook on the US economy which gave a boost to risk on the day with the DOW gaining 113pts or .87% while the S&P lifted 9pts or .67%. But we are not buying this as as sign the US economy climbing out of the hole. Why? The purchases were mostly cash buyers. A...
Read MoreForex Price Action Setups (NY Close) Apr. 25th
Apple’s Earnings + Bernanke Comments = Stock Gains Global investors got a double-dose of good news with Apple shares outperforming expectations launching the Nasdaq (NasdApple at this point) 2.7% on the day giving it the best gain in over 4mos while carrying the DOW and S&P with it higher. But then Bernanke came in at the FOMC announcing he was prepared to use his balance sheet (read...
Read MoreForex Price Action Setups (NY Close) Apr. 24th
Corporate Earnings and Bond Sales Ease Global Investors…For Now US housing data on new home sales and the Case-Schiller Home Price Index came in solidly across the board giving a short term boost to equities. Keep in mind, this was also while the new home sales for March were -7.1%. But grasping for any positive data as the markets tend to do despite the reality, the home price gains...
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