Gold Going Long on NFPHeavy Fundimental Presence this Friday so be careful of manipulations. But Gold Going long due to USD Losing Strength and Breaking Bullish Flag
Nfp
EURUSD 30M TF STRATEGY + 2% RISK = +5,139% GAIN FROM JAN 2020 !EURUSD settings using our strategy and refined parameters to maximise market edge on the 30M time frame on EURUSD . This can be done on any pair and any time frame with NO ANALYSIS !!
5,139% account gain since January 2020 based on 2% risk per trade. Current open position running +7.5%.
Meaning if you had started in January 2019 with a £500 account, this would now be £25,698.78. You'll see the data below in the strategy tester with all trades listed win, lose, and open position.
OUR STRATEGY EXPLAINED:
The entry price, SL and multiple TPs are shown on the chart.
Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter.
What is our strategy?
Our strategy is a trend following strategy, can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term.
The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc.
This could be on your phone trading view app, or laptop of course.
The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy...
What does this mean?
It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management.
The strategy itself can be used as a live trading journal too - how cool is that? The strategy will confirm and support every open and closed position - so its quite easy to follow.
We just have to do what Percy does.
Please see our related ideas below for more information to explain what we do and how it can help you.
November 1 Market Update | Technical, Fundamental, NewsDescription:
An analysis for the week ahead.
Points of Interest:
Two-Day Balance, 100% Retracement Level And LVN Below $3,200.
Technical:
Broad-market equity indices ended the week lower with S&P 500 retracing nearly 100% of the rally that began after the September sell-off.
During Last Week’s Action: Alongside a materialization of the Federal Reserve's growth risk factors -- a lack of fiscal support, resurgence of the COVID-19 coronavirus, as well as a tightening of financial conditions -- U.S. index products showed increased confidence in their exploration lower.
Going back, last week started off with a clear break from balance and acceptance below the October 22 excess low, which suggested a change in directional conviction. The selling intensified, after a failed response at the $3,370 high-volume concentration, and continued into Friday’s close, through the $3,330 level, which marked the upper boundary of a low-volume concentration, initially formed by upside directional conviction.
Given Friday’s end-of-day rotation, away from value, the week ended within a two-day balance area, providing a clear trading framework for the week that follows. Therefore, if participants were to initiate and spend time outside of the balance area, then it's likely the market will continue in that particular direction. Otherwise, prices will remain range-bound, favoring short-term, responsive trade.
Fundamental:
Alongside a resurgence of the COVID-19 coronavirus, in a commentary, Bloomberg discussed the notion that the fear of COVID-19 is more impactful on the economy. In support is the following statement by Variant Perception, an independent economic research provider. bloom.bg
“As long as policymakers and the media present a more alarmist view of the virus’s impact than can be justified by a dispassionate analysis of the data, recoveries will continue to stutter. On the other hand, an easing of the fear portrayed would likely allow recoveries to accelerate at a much faster rate.”
Continuing, Moody’s Capital Markets Research finds that medical professionals claim a second COVID-19 wave will not exact the same toll on hospitalizations and deaths. bit.ly
With that, Bloomberg adds that the focus on mandatory lockdowns is overdone since the mere idea of catching the deadly virus invokes voluntary social distancing, which has a greater impact on mobility than the lockdowns. This is validated by IMF data which found that the lifting of the lockdowns generally had a more limited impact than imposing one.
As a result, Variant Perception suggests that negative coverage of COVID-19 be lightened.
Key Events:
Monday: Markit Manufacturing PMI, ISM Manufacturing, Construction Spending, Presidential Election.
Tuesday: Factory Orders.
Wednesday: MBA Mortgage Applications, ADP Employment Change, Balance of Trade, ISM Non-Manufacturing Business Activity, ISM Non-Manufacturing Employment, ISM Non-Manufacturing New Orders, ISM Non-Manufacturing PMI, ISM Non-Manufacturing Prices, EIA Cushing Crude Oil Stocks Change, EIA Distillate Stocks Change.
Thursday: Continuing Jobless Claims, Initial Jobless Claims, Fed Interest Rate Decision, Fed Press Conference.
Friday: Non-Farm Payrolls, Unemployment Change, Average Hourly Earnings, Average Weekly Hours, Nonfarm Payrolls Private, Participation Rate, Wholesale Inventories, Consumer Credit Change.
Recent News:
The U.S. faces the biggest week of 2020 with the election, Fed, and jobs report. bloom.bg
High-yield spreads are showing a muted response to ultra-high equity volatility. bit.ly
Independent traders doubt new lockdowns in Europe will lead to a further oil rout. bloom.bg
BlackRock Inc (NYSE: BLK) will benefit from its 2021 ETF expansion in Brazil. bit.ly
Chevron Corp (NYSE: CVX) and Exxon Mobil Corp (NYSE: XOM) cut spending. reut.rs
Honeywell International Inc (NYSE: HON) profit beats as cost cuts soften sales hit. reut.rs
The October equity market sell-off anticipates a meaningful drop in business sales. bit.ly
Tech companies will have to explain how algorithms work under a new EU ruling. reut.rs
Johnson & Johnson (NYSE: JNJ) plans to test its COVID-19 vaccine in ages 12-18. reut.rs
Cboe Global Markets Inc (BATS: CBOE) tops profit views as retail activity supports. reut.rs
Under Armour Inc (NYSE: UA) sees demand for sneakers, masks driving revenue. reut.rs
Walmart Inc (NYSE: WMT) unit Sam’s Club and DoorDash team on medicine delivery. reut.rs
Joe Biden’s clean-energy ‘revolution’ faces challenge to match fossil-fuel jobs, pay. reut.rs
U.S consumer spending beats forecasts; worries over decreasing government money. reut.rs
Federal Reserve cut loan minimums, easing terms for Main Street Lending Program. reut.rs
Key Metrics:
Sentiment: 35.3% Bullish, 29.4% Neutral, 35.3% Bearish as of 10/28/2020. bit.ly
Gamma Exposure: (Trending Lower) -78,315,991 as of 10/30/2020. bit.ly
Dark Pool Index: (Trending Neutral) 43.6% as of 10/30/2020. bit.ly
Disclaimer:
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve, especially me.
In no way should this post be construed as investment advice.
GOLD NFP TRADE#gold #goldsignal #forex #forextrader #trading #forextrading #money #forexsignals #trader #forexlifestyle #investment #entrepreneur #investing #binaryoptions #fx #invest #forexmarket #forexlife #stock #success #investor #daytrader #stockmarket #forexsignal #bhfyp #trade #wallstreet #daytrading #financialfreedom #forexprofit #finance #motivation #millionaire #wealth #forexeducation #gold #forextrade #makemoney #profit #luxury #eurusd #forexanalysis #technicalanalysis #forexmentor #cash #pips #makemoneyonline #broker #lifestyle
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What to Expect on NonFarm FridayStocks got smacked down to relative lows. We may be forming the first shoulder and head of a head and shoulders pattern. Watch 3396. If the S&P can't break this high, then we will have our second shoulder. The neckline will be solidly established at 3308. The Kovach OBV is trending down, so we may not even see this H&S form before a breakdown. We do have several levels of support before that at 3293 and 3279. There are several more before 3200, which is a very strong technical and psychological number. Nonfarm payrolls today will play a huge roll in whether the S&P can keep current levels or dive further.
NAS100 IS PREPARING TO BLEEDNas100 has on an uptrend for many days, years,It being an NFP week, market makers are trapping retail traders until endweek, however nas100 has a support trendline which has not been tested for the third time although it is strong and very effective.We are looking forward for a bearish momentum to the downside after the market reverses from the zones I have drawn keeping in mind the support trendline has broken now all we waiting for is simply a retest to the psychological supply zone
KEY ECONOMIC REPORTS TO PLAN AND PROFIT FROM TRADING INDICESOANDA:NAS100USD
A quick search for Actionable economic data results in overwhelming results leading to analysis paralysis.
Today we'll list some of the reports we watch out for and hopefully you'll profit from the same
1.Non-Farm Payroll
Top of our list is NFP Monthly report showing changes in U.S. jobs. Drives Fed policy and indicates economic growth.
2.Earnings Releases
Lists changes in earnings of publicly traded companies, which can move the market
3.CPI (Consumer Price Index)
Measures inflation or cost-of-living changes through average price of a basket of goods and services.
3.Federal Reserve open market operations
Indicates the buying and selling of securities by U.S. central banks as a tool of monetary policy.
4.U.S. Unemployment Report
Presents U.S. unemployment rate as percentage. Drives Fed policy and indicates economic strength.
5.FOMC (Federal Open Markets Committee)
Determines U.S. monetary policy and whether to move the key interest rate. Drives stock market movements.
6.Industrial production
Tracks change in monthly raw volume of industrial goods produced.
7.Inventory reports
Tracks changes in oil and natural gas supplies. Impacts energy prices paid by consumers.
GBPUSD H4 - Trade SetupGBPUSD H1 - A slower moving pair for NFP, also on a breakout price. Sat on support currently at 1.32600. Looks like a bullish break and retest. But could easily be fuelled by NFP (positive) to break support. Literally just have to wait and see what the data brings, and try and snip a small slice of the cake.
Reversal of H1 TrendWe are looking at USDCAD on H1.
We have higher bottoms and higher peaks. These are the signs of forming a new trend.
When a trend is in its beginning, it is much more likely to continue. Therefore, we will look for opportunities to enter buys.
What we have to take into account and be especially careful today is that it is the first Friday. I guess it's clear to everyone what this means - big job movements in both countries.
The news comes out at the same time and we expect to see a big movement. Therefore, you MUST place a stop loss!
You can choose to enter a trade after or during the news. This will reduce the risk, but it is possible to miss a lot of movement!
GJ idea...Okay so higher timeframe breakdown
Weekly - We have a rejection, pin bar from the trendline which is ideal for short positions
Daily - Reacting from the TL also
4h - Bearish PA starting to come into play.
1h -
Target first 139.600 area. 120 pip possibility.
Opinions?
Important levels marked in beige, from weekly and daily charts.