Get started

No-nonsensefx

UPDATE: MEDIUM TERM OUTLOOK ON THE DOLLARWhat's up trading world! Hope you have been well & taking care of yourself in these uncertain economic times! I am back with another DOLLAR INDEX update, now I did say I would update at the end of June however, with 1st July being a Friday, I wanted to observe how the market plays out so I could give a move comprehensive update! UPDATE: 1. Bearing my previous post in mind, we saw the dollar shoot upwards and this was due to the biggest interest rate hike by the Fed since 1994. Monkeypox cases have also remained small in number which has only boosted the dollar even more. 2. As a result of the above, we saw pattern ABC play out in June (see previous post) where point 'B' illustrated opportunities for optimal buy-entries and these signals were shared with my private community and we were able to have a lovely 1:4 risk-reward trade (+420pips) that smashed through relevant targets! MOVING FORWARD: 1. The dollar doesn't plan on slowing down anytime soon, we will definitely be expecting a rate hike again in July, it is the only way to crumb the inflation and do a hard reset on the debt the US has accumulated. 2. Barring covid & monkeypox cases remaining below 10K per/day, the dollar will continue to soar as commodities continue their much-needed reset. 3. Unemployment (NFP) numbers coming this week will also be a key indicator and although we expect it to be higher than last month, should there be a drop, I don't believe the drop will be extensive enough to stop the dollar's rally. Technical analysis: 1. For optimal BUY-entry opportunities moving forward, wait for pattern ABC to play out, with point-B signalling entry point for buy-trades however, given the strength of the dollar, it might not even retest our daily support but rather continue going up due to strong fundamentals & key institutional traders trade-positions that are pushing the market right now. 2. Whether there is a RETEST or not of our daily-support zone, should the above 'moving forward' conditions happen, expect the DOLLAR index to make its way to $108, a price level it hasn't reached in almost 20 years!! Thanks for reading! Let's take advantage of the markets together! These are generational wealth times that we are living in, don't let them pass you by! :))
TVC:DXYLong
by No-NonsenseFX_
MEDIUM TERM OUTLOOK ON THE DOLLARFor the longest time, I have been debating whether or not to begin posting my trading sentiments since the trading community I look after & am a part of is a very private one. That said. we are in unprecedented times, a lot of people do not know what is coming their way. nevermind how to protect themselves/ take advantage of relevant opportunities. So I have decided to help those who are looking to understand financial markets not only from a trading perspective but from an actual investing perspective. So as my first post, let's take a look at a currency that impacts the rest of the global & emerging market currencies & that can help you plan your trading approach over the next 3 - 6 months. But before we do that kindly understand the following: As a former investment bank trading analyst. There is absolutely noway you can incorporate technical analysis without fundamental analysis. When I see retail traders/people just speak about technical analysis and understand nothing about fundamental dynamics & how it affects trading pairs/executions/decisions as a whole, not only do I laugh but it also makes me understand why there is truly only 5-10% of retail traders globally that are consistently profitable. But enough about that, let's get to the charts! DOLLAR INDEX OUTLOOK: Fundamental ( DOWNSIDE ): If another rate hike takes place & MONKEYPOX cases cross the 10K margin in the US &/or employment numbers (NFP) drop. Technical ( DOWNSIDE ): Should the above fundamental case happen, trading opportunities can be taken advantage of through the WXY scenario, where X represents the entry-point. Fundamental ( UPSIDE ): A rate hike & more stimulus money will see the dollar go up. Mid-term elections being favourable would also send the dollar much higher. Technical (UPSIDE ): The above fundamentals taking place would allow scenario ABC to take effect with point B representing the optimal entry-point for relevant trades. Let us see how it plays out, as for exact entry points and iterations to this post as time goes on, that will be given to members only. However, that said, I am willing to do analysis on different pairs/derivatives' on behalf of those who would appreciate an informed opinion on both the technical and fundamental sides. At the end of the day I want to see traders progressing and doing much better but the truth is you need to understand the markets from a technical & fundamental perspective in order to truly be successful as a trader & ultimately become an active investor in financial markets. If all you have been doing at this point in time is trading only incorporating technical analysis then all you are/have been doing is donating money to the market, your broker/s and my former employers in the investment banking/hedge fun world. :) Don't forget to like & comment, I look forward to beginning this new journey with all of you!! :)))
INDEX:DXY
by No-NonsenseFX_