One of the more clear items thus far has been outperformance of tech comp'd to $SPX and $Dow Get your free forecast here:, And before that, constitutional experts, and before that Middle Eastern foreign policy gurus. It also keeps you disciplined and stops you jumping in and suffering immediate drawdown. The support-side of that range was violated … 6: The idea is to use relatively small trade sizes, and scale in and out of the trade rapidly. Export. This strategy helps to give you an edge in determining where those pullbacks are likely to stop. $BTC $BTCUSD, $Gold back above the 1920 prior ath & testing above falling wedge resistance. James Stanley.

I had similarly looked at this setup in the weekly forecast on the US Dollar, and GBP/USD is currently huddled around a key spot on the chart, around the psychologically-important level of 1.3000.

You should be able to spot a strong directional bias if there is one, and you may have already done analysis to find important support and resistance.

To learn more about descending triangles, check out our DailyFX Education section.

As the tech boom became the tech bust, Mr. Stanley hybridized his short-term trading approach to include swing-trading and algorithmic system design. It's a little pet project some of us here have started:, Coool, it looks like just waiting as the market consolidates than hopping on a small trend/breakout :o. Yeah, more or less. hosts and moderates our chatroom, and has developed such tools as the chart bot you'll find available in chat. “If you don’t manage your risk, it will manage you. © 2020, LLC.

Right, so before I explain what it is, here's a checklist for WHEN the Fingertrap strategy is effective: Is the market trending TODAY? On the short-side of the US Dollar, GBP/USD can remain of interest. Share . Currency Strategist at DailyFX.

Email Finder Top Companies Company Search People Search Solutions About Us. Find out more about top cryptocurrencies to trade and how to get started. it's taken out a lot of resistance levels this week, each of which become possible support for pullback scenarios.

He has further developed and refined his approach while working for some of the largest banks and brokerage houses in the United States.

This is your signal to enter short. We use a range of cookies to give you the best possible browsing experience. DailyFX is the leading portal for financial market news covering forex, commodities, and indices. This is just based on the idea that all trends, no matter how strong, move in some kind of zig-zag.

But, given the outsized response that’s already shown in equities in the early-portion of this week, it’s obvious that there’s something creating some risk aversion. Losses can exceed deposits. Email Finder Top Companies Company Search People Search Solutions About Us. Euro Forecast: EUR/USD Gains on Election, EU-US Tariffs to Derail Markets? EUR/USD Technical Outlook – Rally to 1.25 May Be in the Cards, Crude Oil Prices Sink, Gold Soars on US Vote Count as Jobs Report Nears, Gold and Crude Oil Price Outlook Hinges on Close US Election Race, Fed, Nasdaq Rally Pauses as Trump Contests Election Votes for Biden, Gold Price Outlook: Bullion Aiming Higher on Dovish FOMC, Biden Lead, Bank of England Ramps Up QE Program, Rates Left Unchanged, Sterling Pushes Higher, USD/JPY - A Fresh Eight-Month Low Ahead of US Jobs Report as Vote Count Continues in Key States, Japanese Yen Forecast: USD/JPY Approaches Multi-Year Significant Level, #Gold price action just inked its best weekly gain since late July when the precious metal was in the midst of a bullish breakout.

Euro Forecast: EUR/USD Gains on Election, EU-US Tariffs to Derail Markets? Note: Low and High figures are for the trading day. James has 2 jobs listed on their profile. Get your #currencies update from @PaulRobinsonFX here:, What are some factors impacting Euro’s forecast this quarter? Without a good defense, your offense doesn’t matter.

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DailyFX provides forex news and technical analysis trends influence the global currency markets. stop (important fib, trendline, the basic stuff), Is it the morning of the NY session? Last week saw the British Pound break out in a big way, setting a fresh monthly high in GBP/USD and this may have some potential for continuation. I’ve been chronicling the toping-out process in the pair over the past couple of months, first looking at the turn from resistance towards the .7000 handle, then for a bounce from that zone, and then for another bearish push.

#FOMC $NFP coming up Through it all – AUD/USD has built-in a descending triangle pattern, and such formations will often be approached with the aim of bearish breakouts. Our guide explores the most traded commodities worldwide and how to start trading them. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. This helps prevent that. But, then again, we might not even have final results for a week or more after polls close; and given how turbulent 2020 has been, it’s probably wise not to bank to heavily on what ‘should’ happen actually taking place. Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages. EUR/JPY has just traded to a fresh yearly high but retail traders don’t appear to be very bullish. View James Stanley’s profile on LinkedIn, the world's largest professional community. Get your market update from @ddubrovskyFX here:, #Gold prices are at risk of further losses as President Donald Trump claws back lost ground against his Democratic challenger Joe Biden in the national polls. Hankamer School of Business at Baylor University, Chart prepared by James Stanley ; Gold on Tradingview Recommended by James Stanley, $Nasdaq is having a pretty good week today. He's also very friendly and helpful on Twitter if you have serious questions. Give it a try, and let me know if you find it to be helpful!

The point is that it gives you a higher probability of entering at a good time (buying relatively low, or selling relatively high), and it also means you can have a lower risk entry (being closer to the last swing high). So you have to use your discretion obviously. On the long side of the US Dollar, AUD/USD may carry some allure. Also of interest is the 76.4% Fibonacci retracement at 1.3019, creating a bit of confluence around the psych level; and the 61.8% retracement from that same major move is what helped to cauterize the lows in late-September.