Good evening all…
It looks like we are in a news-based environment with the SVB story hitting the news and there will be a lot of fear across the board.
All we need to be paying attention to is the DXY and yields…
They are already trying to reassure investors that this is not 2008 all over again…Funnily enough, they said the same thing back then…
Money flow is what we need to be aware of…
We know the risk on/off from last night’s update tells us investors are not favoring risk right now which suggests the smart money concept is forcing the price of assets lower…
Remember any retrace backup will be short-lived…If you are building shorts in anything, keep the trade light because the market can drop any bout of news and the participants will hit assets and it may force the price higher before it comes back into the norm of the “Bearish Market”
When it comes to forex….My practise is to always let mondays play out…
I stopped trading mondays because there was always news that was pending or being absorbed and then tuesday everything went back to normal.
So just proceed with caution…You are not missing out on anything…Stick to the moving days.
Will be checking in with you all tomorrow morning…
Mad Love
T
