Good evening everyone…HD version still processing, (I won’t have this issue when I upload directly to the website)
So we start the new week with two main news announcements.
CPI
Unemployment claims.
We also have Chinese CPI data that will bring volatility but it will put out the message to the world as to whether china will step up the stimulus program sooner rather than later.
When you come to a new trading week, as I mentioned in the video, you want to try and work out, how likely the price is going to be consolidating if there will be news announcements.
Now granted, this is just a way to help us pick our spots.
You want to be placing trades at the best possible times, being in marginal trades will always put you in situations where you are having to make money back instead of earning it.
When you are navigating pairs to trade, determine what news could affect the pair, or not. try and get a feel for how the pair is moving, e.g. before news…Go back in the charts and take the last CPI data, does GBPAUD move regardless while EURUSD, GBPUSD and AUDUSD consolidate?
I hope this can bring structure to the way you approach your trading week.
We always have to plan the journey, the route we take, we that’s a different story…
Mad Love
T
