I decided to take a much-needed break from forex trading and I must say, I feel fresh. The trading started just after setting up servers for the expert advisors, the blog website and soon after, world ‘leaders’ decided it would be ‘great’ to add ‘War’ in the mix. And we thought Donald Trump could stir up the financial/speculative markets.
The break also created time for another side project that had stalled a bit. It was finished and now running. At least now there is another project that will further assist in ‘sitting-on-my-hands’ moments when the need arises.
With that said, the much-needed rest was attained, review of old trades done, review of fundamental/sentimental analysis; and resumption of good trading is all that is remaining.
Resumption of Forex Trading
Since closing my drawdown trades on 21st February 2022, I have been sitting on the sidelines trying to understand the markets. The markets/world seems to have normalized the ongoing war. A person with a little knowledge of financial/speculative markets would expect comdolls (AUD, NZD, and CAD) to be tanking.
These comdolls seem to be owning the markets and the bulls have really driven these currencies up. This is especially true with AUD and NZD. CAD is a bit choppy. A lot of ups and downs, but seem more ups.
On the safe haven’s end, JPY seems to be strong, especially against EUR. USD is also very strong. CHF as ever is confused (confused is the ‘streets’ explanation but the accurate explanation is currency manipulation. This is illegal but since they are in the ‘cool kids’ group, they can do it. Let no 2nd world, and below, country try this btw).
I do not follow metals a lot but Gold has also shot up.
Anyways, I do not have much info on all the currencies like other days, so let us go straight to the 2 trades that I took after the break.
NZDCHF Buy Trade.
Technically, a lot of indicators were in confluence for Long trade.
- QQE, TSV, BBSqueeze, and Vortex were all for long.
- The indicator that made me go in was that price had closed above pivot (central pivot point) the previous day.
- Price is inside Kumo which is considered a resistance zone but ADX and trend indicator shows the pair is trendy.
The trade is doing well. I wanted to close the trade on Friday evening before the market close but decided to leave it open. The momentum is strong on this pair for Long momentum.
The pairs closed the weekend positive 760 points.
Just like the NZDCHF pair, the GBPUSD pair was technically sound of a Short trade.
- Price was well below Kumo cloud
- QQE, TSV, BBSqueeze, and Vortex were all for short.
- The indicator that made me go in was that price had closed below pivot (central pivot point) the previous day.
- Also like the pair explained above, the trendy indicator and ADX shifted to trendy. This pair clearly shows how choppy the pair was 4 days before the trade.
The trade is also doing very well. Currently positive 1440 points.
With these 2 trades, I have recovered the lost 0.5% loss (and then some) that had really triggered me. Yes they are unrealized profits but the pairs have really moved in the direction of my trade bias, I do not see any issue arising.
Today’s post will be shorter considering I have not been too involved in the financial world. I will start being more involved after this weekend. The rest was much-needed, and I feel great and ready to resume trading full force.
I am also working on 2 articles that are skewed more on the fundamental/sentimental side of things.
- working on part 2 of the Russia-Ukraine story. Part one is here.
- Also working on the USA inflation rate. The USA is competing with 3rd world countries on inflation rates. Yikes. But there are more important things to the US at the moment, WAR.
Anyhoo, as always, leave your comments below or in the forums.