Day Trading Forex Idea& Tips
After trading successfully stock market last week and commodity, this week I prefer to be on Forex.
On of the trade – Short, I’m looking for, is on USD/ZAR. If the daily are starting well, will keep it for longer term (weekly). There’s are few trade to take on forex, but this one are so far the most interesting on ROI%.
On weekly chart, USD/ZAR are on strong bull trend. How ever, it seem they are it loose a momentum to keep pushing. By trading in range it is, from the highs history level with many unsupported price, it seem, it can be a pretty good short one. If it start great, and my position are preventative, I’m looking to use Fib.Retracement for my adding targets or selling them.
On daily Chart, we also can see, after reaching 50% retracement Fibonacci, and creating a double top, it looking to break the small bullish trend.
Now…let’s see if Bullish trend will be broken.
As stock losing momentum, and most of stocks Indexes, is also can be seeing on Vix Chart.
As Gold and Silver , start to break long term bearish trend, and silver may found the bottom at 18.00$/oz , this summer can be one of when Market Maker taking out the profits from stock Market.
Notice that we still in Bull market and take profits against the trend, is risky when you don’t know how it work!
Was looking witch stock would be nice to buy this week…and as was analyzing few stocks from S&P500 …I realize most of them are losing momentum, and looking to create a double tops. This week will be quite volatile…and for avoiding gaps from Stock Market, will trade only on Forex and Futures for this week. On the following video, you can see the move I’m waiting expecting to see from the market.