Weekly Market Wrap – 31/10/2016
October 31, 2016From the Dealing Desk – Alsi Near Dated Future 05/09/2017
September 5, 2017
Forex Mentor
Have you ever come across the following trading scenario?
You start to trade into the right direction of the trend when an important news announcement is released… You find yourself on the wrong side of the market, or it appears to you that you are on the wrong side of the trend?
Some hours later the market price has recovered into the trend direction and the technical picture continues as normal.
This has happened to me on many a time, which has brought me to this conclusion:
Any trader must have a good understanding of trend (heartbeat of the market) as the technical picture is far more important than the fundamental picture at any given point in time.
The fact is, important news announcements such as Mr Donald Trump becoming the new US President, have already been factored into price.
The “bad news” only gave traders the opportunity to enter at better prices on the technical level and then, wouldn’t you know it, the Trump news became good news which supported the dollar bull trend for the moment.
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Forex Mentor
Johann has been trading Forex for over a decade. He has managed offshore accounts for a local firm out of Salt Lake City in the USA, as well as trading on his own account in his private capacity. He got his first taste of the markets through Share Direct and after finding great success in his career he has returned to train others in the art of trading.
Johann also trades CFD’s, indices and local equities but it is really more of a hobby to him.
