These are exciting times. If you were patient and didn't over-trade during the slow times, you are probably hitting a high percentage of your trades due to patience and the number of opportunities that are lining up. I guess you don't have to have that much patience when they are coming this quickly.
First off, the fundamentals:
**FOMC tomorrow
**claims on Thursday
**retail sales on Friday
They all could be overshadowed by the downgrade, but things will settle down my late this week and we should focus on economic data.
Let's go right into forex. We had a BUFFALO BOUNCE in the GBP/USD followed by a DOUBLE FALL LINE TRADE in the USD/CHF and then the very rare BUFFALO BOUNCE in the USD/CHF:
Past performance is not indicative of future results
Past performance is not indicative of future results
Past performance is not indicative of future results
Moving into equities, I am loving the drop in commodities. Have you seen VALE?
Past performance is not indicative of future results
This to me is getting close to oversold and thus, I love picking up ETF's that we all need, like oil:
Past performance is not indicative of future results
Practice good trade management as we will have plenty of opportunities this week!
For all of you forex traders, you can follow my real time updates at Interbank FX's new Connect - I am "thelocalstake".
Happy Trading and Be Environmentally Cool
Coach Brian
Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.
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