Trend for 15th of August (updated) ~ forex trading strategies
Hi, everyone. Let me do a quick market trend analysis for today. Contrary to the usual way markets behave on Mondays we saw some pretty cool volatility today in Forex. US dollar collapsed and most probably you know why. The news from United States was very bad and markets reacted very negatively. You should never forget that this kind of reactions are often short term and the next day markets can come back to where they were before the news release, but there are often opportunities to use those events to make money.
Unfortunately, today did not look like a very good day for that. Dollar was falling around one hour before the news was released and when the news finally hit the market it had already travelled more than half the distance it covered after the release. So, I think it would have been a good idea to take a day off and not to trade the release. Maybe one could have used day trading opportunities, but that depends on personal preferences and trading style. I hope there would be more fashionable moves in the coming days this week.
See also:
Trading divergence
Bollinger bands
Disclaimer
Trading financial markets carries a high level of risk, and may not be suitable for all investors. All information on the blog is of educational nature and cannot be considered as advice, recommendation or signals to trade in any financial markets.
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