A1 TRADING | Indices, Commodities, Forex, Futures pinned Β«My trading journey, every year: 2016: Rough. Had no idea what I was doing, quickly learned this stuff was hard 2017: slightly better, still negative. Learned a lot! 2018: first profitable year! 2019: very profitable! 2020: very profitable! 2021: veryβ¦Β»
NASDAQ SIGNAL π
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CAD/JPY Analysis
Despite the overall downtrend on the 1H timeframe, CAD seems to be pushing higher with oil prices on the rise and the hike. BOC took interest rates up another 25 points. As a result, the pair dipped making it more attractive for investors. When comparing two currencies, CAD has Yen beat in almost every category. On the 1H timeframe, price is inside of a falling channel which has held true for the past several days. If the BOC statement is hawkish enough, we may see a break out of this channel. This could in turn help confirm a reversal on the shorter timeframes and a continuation of a longer term uptrend.
Despite the overall downtrend on the 1H timeframe, CAD seems to be pushing higher with oil prices on the rise and the hike. BOC took interest rates up another 25 points. As a result, the pair dipped making it more attractive for investors. When comparing two currencies, CAD has Yen beat in almost every category. On the 1H timeframe, price is inside of a falling channel which has held true for the past several days. If the BOC statement is hawkish enough, we may see a break out of this channel. This could in turn help confirm a reversal on the shorter timeframes and a continuation of a longer term uptrend.
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π₯ See what large scale institutions are forecasting on your favorite assets!
Bank forecasts can add confluence to our trading ideas! With the EdgeFinder's new bank projections tab, users can generate graphs to show relevant forecasts on their favorite assets posted by each firm's research teams! Additionally, the bank signals page will display the overall bank sentiment, whether it be bullish, bearish, or neutral.
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Bank forecasts can add confluence to our trading ideas! With the EdgeFinder's new bank projections tab, users can generate graphs to show relevant forecasts on their favorite assets posted by each firm's research teams! Additionally, the bank signals page will display the overall bank sentiment, whether it be bullish, bearish, or neutral.
Institutions we are tracking:
π Bank of America
π Citi
π Goldman Sachs
π Wells Fargo
π Commerzbank Analyst Team
π BMO Capital Markets Team
π BNP Paribas Team
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TraderNickβs BUY NAS100 UPDATE (Entered 7 days ago)
π Bought at: 15026.36 (Floating +4620.80 pips π₯)
π« Stop: 15389.91 (Trailed: +3635.50 pips above entry)
π― Target: N/A
π Bought at: 15026.36 (Floating +4620.80 pips π₯)
π« Stop: 15389.91 (Trailed: +3635.50 pips above entry)
π― Target: N/A
π₯13
NAS100 still going π
Stops trailed further.
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Stops trailed further.
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90% of my profits come from 10% of my trades.
Trailing stops produce low win rates, but the occasional massive winner.
This, I believe, is where the best money in markets is made.
Some would call holding on to a winner like this greedy, but Iβd call it patience!
- Nick
Trailing stops produce low win rates, but the occasional massive winner.
This, I believe, is where the best money in markets is made.
Some would call holding on to a winner like this greedy, but Iβd call it patience!
- Nick
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The NAS100 looking especially stronger after yesterday's and today's inflationary news. the EdgeFinder takes into account where CPI is moving. After CPI, inflation fell back into a target range where the Fed is comfortable with. The closer CPI is to 2%, the more likely the Fed will be dovish.
Price broke to a higher high on the 1D timeframe suggesting that price could be a bit overstretched, however, sentiment has become clearly more bullish. Other than a -1 from GDP growth, things are looking optimistic from the EdgeFinder's perspective.
Price broke to a higher high on the 1D timeframe suggesting that price could be a bit overstretched, however, sentiment has become clearly more bullish. Other than a -1 from GDP growth, things are looking optimistic from the EdgeFinder's perspective.
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USDJPY on the other hand, is not looking so hot. With the combination of yen strength and dollar weakness in the latest CPI numbers, it's not looking bullish at all. Although price is up against what looks to be support, it's not clear whether or not it will respect this level.
On top of that, both the 10 and 2 year bond yields are falling suggesting further weakness for the dollar. It would seem possible for the pair to come down a bit further to test support before making another decision in price action. The support level sits around 137.8.
On top of that, both the 10 and 2 year bond yields are falling suggesting further weakness for the dollar. It would seem possible for the pair to come down a bit further to test support before making another decision in price action. The support level sits around 137.8.
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Gold looks increasingly better on the EdgeFinder as the score now sits at +4 buy. Despite infaltion and unemployment, the other factors are positive for the metal. Seasonality and trend readings agree that this pair has more upside from a technical perspective.
COT and retail are in a correct disagreement in the formula for a bullish gold bullion. Because the economy in the US is slowing down, and inflation is getting closer to its 2% target, investors are less concerned about future rate hikes.
COT and retail are in a correct disagreement in the formula for a bullish gold bullion. Because the economy in the US is slowing down, and inflation is getting closer to its 2% target, investors are less concerned about future rate hikes.
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Retail sentiment will tell you everything you need to know about USD pairs. The crowd is in for a wild ride if they think there will be a long term reversal in USD pairs anytime soon. Meanwhile, gold and stock index traders are doing a good job of going the opposite way of the correct move.
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