“What Say You Yen?”
This is what determines my directional bias each morning as a daytrader, and that is looking at the relative performance for the Japanese yen.
This is what determines my directional bias each morning as a daytrader, and that is looking at the relative performance for the Japanese yen.
What is the message of this market and how do we see past some of the bull and bear traps that the volatility is setting?
Ignore the news and try this — it works much better.
The key in this market is to ignore the news, pay attention to the tape, and appreciate cash.
Short-term today’s bounce may raise some spirits that the markets are out of the woods. Long-term, the sellers are just waiting for their price — like I am. Here’s the explanation for the two time frames and setups.
We’re keeping our focus on the trends and not necessarily the indices. Keep your watchlist varied and you will be able to see trends in far more than stocks. That’s been the game plan and it’s been working great without the heart palpitations…
At the risk of cheesy headlines, I do like what’s going on in ZM. There’s no guarantees in trading, but this is one of my favorite one-day setups.
The Fed cut rates on Tuesday but after all the concerns surrounding the Coronavirus, we kinda knew that’s what was going to happen. Why early? What now? Good questions and should make for some great conversation in the days ahead.