We are at the Right Place at the Right Time
From a currency trader’s perspective we are at the right place at the right time historically with long-term currency trends – 5 & 10 years cycles — about to rollover and with the bear market in EURUSD, the world’s most heavily traded currency, about to reassert itself. Even the once great bulls in the Loonie and Aussie have come to an end with USDCAD now higher on both its Weekly and Monthly charts, and AUDUSD now down on its Weekly and showing a massive double top at approx 95 on its Monthly chart.
The last thing we want to do though is assume trading will be easy going forward. We still need to have a proven method which we’ve manually back-tested, and we will still need to exhibit patience in waiting for set-ups at the extremes of the many sideways patterns we see over the course of the trading week. We definitely need to have a line in the water when the fish are running, meaning if we trade lower time frames we have to get used to pulling London hours at least twice a week. It’s still work, but because of our knowledge and experience we can work smarter not harder.
I’m very excited to be exiting the summer dog days at exactly the right time from my viewpoint, and from a technical and cyclical perspective.
I’m also very excited and energized by our Live Trading Exercises which are still complimentary for our clients. I know there is no better way to learn than in a live market environment, so there is no better service I can provide than to highlight set-ups and trade signals in live markets during the London / U.S. overlap on a daily basis.
And most of all I’m excited about being in the right place at the right time, because that is all a trader can ask for!
Jay
Jnorris@brewerinvestmentgroup.com
800-971-2154
Jay Norris is the author of Mastering the Currency Market, McGraw-Hill, 2009 and a Trading Instructor at Trading-U.com and a Senior Market Strategist with BrewerFX in Chicago. To see details of Trading-U’s available course work go to Trading Course To schedule a complimentary, interactive tutorial with Jay on determining market direction and hear more about “Live Market Exercise” go to One on One Tutorial
DISCLAIMER: Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. Risks include the potential that changing political/economic conditions may substantially affect the price/liquidity of a currency. Investors may lose all or more than their original investments. Any charts shown here represent market conditions at a particular point in time. Such conditions may not be replicated in the future. Past performance is not indicative of future results.