- In Forex trading patience is a virtue. As a trader you have to wait for the perfect opportunity to enter or exit a trade, as this is usually the difference between success and failure.
- I choose to use the 4 hour time frame as it eliminates most of the noise that we see in trading.
- The momentum indicators can tell us where the market is going.
- With the CCI at 119 and the stochastic indicator above 80 then it may be a bullish indicator
TarMarHan's Blog
Trade setup on the EURUSD
Weekend review
A great week ahead for all the news traders. Three central bank monetary policy statements to look out for in the coming week. The BoC on Wednesday has the potential to surprise the market with a 0.25% rate hike. Otherwise no changes in monetary policy stance is expected this week.
The Non Farm Payroll will round up the central bank dominated week. The expectation is 205k jobs added and we may see the unemployment rate tick lower to 4%. A confirmation of these numbers will increase the likelih…
My view of the USDZAR
- The South African government is in the process of amending th e constitution to address the land imbalance by expropriating land from the current holders without compensation.
- The policy alone can be chaotic and disastrous leading to lower productivity and capital flight.
- The Rand should be significantly weaker in the coming weeks
- The levels to be watching are 12.0, 12.2 and 12.45.
The week ahead
The weekend is a good time to be looking at the economic calender for possible trading ideas. From the look of thing Monday does not have a lot of market moving data so i guess the momentum from Friday will carry on into the new week.
Happy trading everyone
Weekend things
Forex trading is one of the most mentally intense jobs that any one can engage in. So it is important during the weekend to relax, get a lot of sleep, catch up with friend and family and listen to cool music. To be a successful trader one has to have the mental strength to deal with the emotional issues.
Everyone its a few hours to the market open. Get up, pull your socks and prepare for the trading week ahead.
l like to listen to this track as i plan my day, hope you will be inspired too.
Everyone its a few hours to the market open. Get up, pull your socks and prepare for the trading week ahead.
l like to listen to this track as i plan my day, hope you will be inspired too.
A look at the week ahead
The weekend is the perfect opportunity to plan about the upcoming week. A look at the economic calendar for the upcoming week reveals some interesting events, which will definitely provide some trading opportunities.
- The monetary policy statement from Australia on Tuesday morning will provide the good opportunity. The expectation is the cash rate will remain at 1.5%. The market will be watching the tone of the statement.
Canadian Data comes in strong
THE DATA
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- The monthly GDP growth rate came in better than the market expectation. The growth of 0.2% in September followed a 0.1% decline in the month of August.
- The employment rate continued to grow at a solid pace adding 79.5 thousand people into the labour force against a marker expectation of 10 thousand.
- The Unemployment rate also strengthened to 5.9 % from 6.3%
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