In this video, I take a deep dive into how the Nikkei has been rocking us forex traders’ world. The risk OFF that we are seeing that has pushed the Dow lower and carried the yen higher has come from a number of factors that we can see play out in the Asian session which then washes up on the shores of the U.S. Respect this! And that means we watch the 15,000 level on the Nikkei closely.
I also touch on the individual currency stories that I am watching this week: AUD, USD, GBP, NZD.
BOE Gov. Mark Carney is going to be able to take another swing at the pound sterling and IF tomorrow’s (Tuesday’s) GDP comes in low, he’s have plenty to swing at. That means look for another push lower in the GBP. Not something I want to see but something we need to be prepared to handle. How do I handle it? Careful pair selection and I walk you through what I am watching in this video.
I also discuss the crude oil market (a key Forextra market for me!) and I revisit the rhythm of the trading day.
Psychology is another topic I touch upon in this video since understanding your own comfort wit these set ups in this type of environment means you better know yourself and your set ups, INSIDE OUT. There is a “simple” formula and I discuss my view of trader psychology as well.
Learn all about my indicators – the 34EMA Wave and GRaB Candles here, where I discuss these two tools in details as part of my overall trading plan.
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