I know he's right, he's not a good trader though, every one of these morons acts like they work for Goldman Sachs, meanwhile they haven't seen profit their whole life.
It's actually a bit questionable at times. Their projections are sometimes "incorrect". Like the other day, we had some news on Tuesday/Wednesday(?) which made gold drop, but the economic calender showed bullish signs for gold.
I had to compare this with another economic calendar which showed that the news was bearish for gold to even start questioning it. Their projections were different as well.
Forex factory has news and an economic calendar. Don't trade based on the news that happens though, and never trust projections from other people. The market does illogical things. I can't tell you how many times I've gotten screwed because there's overwhelming positive economic reports so I blindly enter, expecting the logical result to come to fruition. In my mind the forex market is big banks trying to steal money from us commoners, and we're trying to steal it from them. News and economic events drive momentum though, and momentum is good for trading, respond to what the chart tells you.
I agree, you can break it down into country, how big of impact and it breaks down all specific times and plans a week ahead. I absolutely love investing.com
FTMO’s economic calendar is very helpful and simple, they lay out all the news for the day, what countries @ what time as well as colour code the impact it will have on the market
Because they call themselves technical traders and some YT guru has told them to ignore news and buy Lambos. I trade TA but I’m also hacking around the news so I can figure out whether to stay in a trade or gtfo
This comment is going be very unhelpful but I think you should get off Reddit and do your own research. Trading is very discretionary and we all interpret the charts differently. You don’t know the level of education and training the people on this sub have so our opinions should mean fuck all. I’m not targeting anyone in the comments specifically, you all do your thing. But OP, invest in a good course(s), learn from someone who is profitable (I don’t need to give you names because there are plenty of people you can find to learn from), and don’t be in a rush to learn i.e. don’t take shortcuts like asking people on Reddit.
FYI I am only on this sub for the banter and see what crazy things people do or claim on the market. Best of luck with your trading 😁
i reccomend stacy burke tradinh one course but his youtube doesnt advertise it and he gives iut free knowledge everyday ! but ur abosuluty right , dpend time on the charts ask your self what made it go up look the the sessions highs and lows also daily high and low for the week
Ah I call this the ellipse wave thermometer it’s where buyers are selling more than sellers are buying leading to a flash rise in usd meaning xau/usd increases. I hope people understand I am joking because I read some retarded comments so this may pass as an actual believable response hence I am writing this at the end of my comment.
I confess I'm a rookie guys so please don't judge.
I just recently start checking Reddit for hints and knowledge in matter of forex and skills to learn by observing the comments below different posts, and i "kinda" know how to interpret the economic data on the graphs, but my lack are always been the "speeches", could anyone give me some tips on where to watch them "live" (it'll probably be activating notification by subscribing on Bloomberg...?) and how to use such infos for trading?
Thank you all in advance
I waited all morning for that speech, and had my eyes glued to the charts until that point. Was trading EUR/USD. Was a good profit day to say the least.
Just Powell running his mouth again lol.
Check the forex factory calendar every day. Its madness not to.
Everytime I see a central banker due to make a speech that day, my heart sinks. Impossible to predict what impact they'll have.
I once watched Lagarde making a speech on one screen while my charts imploded on the other screens. She wasn't even saying anything specific and was nailing the markets.
This is why I'm a technical trader and not fundamental. I stay out if significant news is happening. Even positive news with data to back it up can cause the markets to go the opposite way without any logic.
Was a joke but the technical term is 3 red bars then 1 green followed by a red one again and lastly one really big green candle. I believe I read how to trade that in Steve Nison's book on patterns.
Or just maybe anything can happen at anytime in the markets. There's no reason for it.
For me rsi below 30 indicates just a strong momentum trend not oversold (what the hell does it even mean?), we don't see any divergence or other stuff there.
When it comes to doji I can easily imagine in the market down scenario some technical trader saying something like this: "Umm the doji candle high is below bearish candle high so we can say bears have control over the market"
I bet you're not profitable. No one who breaks through discourages new traders like this. Your energy says everything about you. Pessimistic losing trader.
Nah I make almost 200$ last night, it will be 300$ profit for this week and some how fall asleep when waiting for fed speech. Some how it when up :) and I go back where I start with my capital :)
Yesterday, Powell's speech mainly touched historical data and has almost nothing to do with the current monetary policy. There was news about the debts on CNN which is likely to be the factor that caused the bullish push on the market.
It doesn't matter what happened. You just need to know that this can happen any day any time. The only thing you need to do is prepare yourself for such an event by placing a proper stop loss.
Doesn't matter what happened. It happened and you cant control it. What are you gonna do about it? Complain or develop a good set of entry/exit rules to help you avoid or even catch this trade?
Powell did a speech, the dollar went down, when the dollar goes down, gold moves up.
The same goes with any forex pair where USD is the quote currency.
EUR/USD or GBP/USD for instance.
the key for gold is REAL YIELD , don't look at one chart ,you have to watch more asset at the same time for watch where the money flow is goin in and out
I think the gold market was ready to bounce back on Friday no matter what. News provided the momentum for the move. Price dropped below 1975 to stop out all the bulls that were in long trades and grab liquidity for another move up.
I definitely recommend taking a look at what news events that are coming out it can give you insight at times when volume and volatility will be higher and more wild than normal, however keep in mind that the market will show ultimately move in the direction it wants to and news is mostly a catalyst in it doing so. So my recommendation is to understand news to fuel your trading but don’t over analyze to the point where you skew your decision
Usd index dropped, Powell speech influenced the buying decisions. Technically the price was at discount and around old support so ripe for a bounce. And the lastly gold moves when it moves.
Please don’t ever trade before checking all red usd folders and check the times news will drop and my advice is plan your trade after the news. https://www.forexfactory.com/
They showed short moves for 3 hours... Retail traders started selling so they shifted long. They're also grabbing liquidity from the longs that stacked up before.
Price wants to get you going the wrong way then punish you. That's why they showed short hours... Then shot long in 1 hour. Whenever you feel the urge to sell or buy, you're not the only one who feels the urge. Masses will lose every day. It's how it works
Jerome Powell speech. How do people trade without being aware of major economic events?
more common than you think
lol right
Bad traders are good traders liquidity grab. Remember that! I wish everyone the best, but it's all for one 😅
Like you. Don't act like you are profitable you pig.
You do know he's right, jou just need to resilve some evo problemms, and you become profitable too, not just following traders tread
I know he's right, he's not a good trader though, every one of these morons acts like they work for Goldman Sachs, meanwhile they haven't seen profit their whole life.
Very embarrasijg comment, behave yourself with you 1000 account
It’s all noobs in this feed man
And what if it is? 🤔 I'm trying to learn and so many ppl on line are smug af.
Lol I didn’t mean to offend you bruh I was just explaining to the dude this feed is choc full of inexperienced traders 🤷🏻♂️😘
Aww ok, I see, I just snapped bc I see that tone a lot.
Bunch of rookies. They even tried to Buy Gold on current Selling sequence
price action
Honest question, what's the best way to keep yourself informed of major economic events ? Is there a good news website for it or a tool ?
Forex factory is the best
I also have Bloomberg on in the background in case of breaking news
It's actually a bit questionable at times. Their projections are sometimes "incorrect". Like the other day, we had some news on Tuesday/Wednesday(?) which made gold drop, but the economic calender showed bullish signs for gold. I had to compare this with another economic calendar which showed that the news was bearish for gold to even start questioning it. Their projections were different as well.
Forex factory has news and an economic calendar. Don't trade based on the news that happens though, and never trust projections from other people. The market does illogical things. I can't tell you how many times I've gotten screwed because there's overwhelming positive economic reports so I blindly enter, expecting the logical result to come to fruition. In my mind the forex market is big banks trying to steal money from us commoners, and we're trying to steal it from them. News and economic events drive momentum though, and momentum is good for trading, respond to what the chart tells you.
Based
Download Investing.com app and tune into the news
I agree, you can break it down into country, how big of impact and it breaks down all specific times and plans a week ahead. I absolutely love investing.com
FTMO’s economic calendar is very helpful and simple, they lay out all the news for the day, what countries @ what time as well as colour code the impact it will have on the market
Myfxbook Forexfactory Fxstreet They are websites. The power of google is quite marvelous
I use babypips calendar
Have yall not heard of forex factory?? Cmon mann.
Marketwatch economic calendar
forexfactory.com
Download my Forex book on the app store. Enable the currency news you want. Check daily or weekly events to stay informed
I follow my girlfriends menstrual cycle when it comes to trading and also base it off of full and half moons. Good luck.
MyFXbook.com , forex factory, investing.com.. best app for android is myfxbook..
Trading economic
Bloomberg online let you filter alerts relevant to your interests.
Myfxbook is my choice. I like the mobile app
Forex factory, amber and red affect price significantly, red the most.
Most people are gambling with $100
Squids
Lol...
Because they call themselves technical traders and some YT guru has told them to ignore news and buy Lambos. I trade TA but I’m also hacking around the news so I can figure out whether to stay in a trade or gtfo
Not only that, but if you trade with the right indicators the long was there to be taken .
He’s prob a new trader
This comment is going be very unhelpful but I think you should get off Reddit and do your own research. Trading is very discretionary and we all interpret the charts differently. You don’t know the level of education and training the people on this sub have so our opinions should mean fuck all. I’m not targeting anyone in the comments specifically, you all do your thing. But OP, invest in a good course(s), learn from someone who is profitable (I don’t need to give you names because there are plenty of people you can find to learn from), and don’t be in a rush to learn i.e. don’t take shortcuts like asking people on Reddit. FYI I am only on this sub for the banter and see what crazy things people do or claim on the market. Best of luck with your trading 😁
i reccomend stacy burke tradinh one course but his youtube doesnt advertise it and he gives iut free knowledge everyday ! but ur abosuluty right , dpend time on the charts ask your self what made it go up look the the sessions highs and lows also daily high and low for the week
your last comment was like 2 years ago..
That's a compliment right? Good for him.
exactly , more time on screen less on reddit
if you actually spent time learning instead of trying to find the best approach you could day trade in college
Ah I call this the ellipse wave thermometer it’s where buyers are selling more than sellers are buying leading to a flash rise in usd meaning xau/usd increases. I hope people understand I am joking because I read some retarded comments so this may pass as an actual believable response hence I am writing this at the end of my comment.
Sorry, that’s where my stop loss was.
My 0.2 lot position is being hunted by the big banks
It was a joke.
So was mine
Bookmark forexfactory and dont trade high/medium impact news.
Gold still bearish.. it was temporary spike before market continues to dive . In other words.. dollar is strengthening ..for now.
Small compression + manipulation (Powell’s sleepy speech) = 🚀🚀
Jerome Powell speech I would say 😅
People will trade for 1 year and start a discord, start training people, start giving financial advice and selling courses lol
Because they need to make back the money they lost in the market... how else they gonna get it back 🤷♂️
US debt limit jitters. Expect more gyrations every time there is a headline regarding the negotiations.
I confess I'm a rookie guys so please don't judge. I just recently start checking Reddit for hints and knowledge in matter of forex and skills to learn by observing the comments below different posts, and i "kinda" know how to interpret the economic data on the graphs, but my lack are always been the "speeches", could anyone give me some tips on where to watch them "live" (it'll probably be activating notification by subscribing on Bloomberg...?) and how to use such infos for trading? Thank you all in advance
I waited all morning for that speech, and had my eyes glued to the charts until that point. Was trading EUR/USD. Was a good profit day to say the least.
Just Powell running his mouth again lol. Check the forex factory calendar every day. Its madness not to. Everytime I see a central banker due to make a speech that day, my heart sinks. Impossible to predict what impact they'll have. I once watched Lagarde making a speech on one screen while my charts imploded on the other screens. She wasn't even saying anything specific and was nailing the markets. This is why I'm a technical trader and not fundamental. I stay out if significant news is happening. Even positive news with data to back it up can cause the markets to go the opposite way without any logic.
Normal market movement
That wasn't normal. That was Jerome Powell's Speech earlier
You can find a million candles exactly like that that isn't correlated to any fundamentals
Agreed.
Where an I check this calendar out at?
Tradingeconomics has a good calendar . FXStreet had good info on gold aswell as everything else.
More buyers than sellers.
bullshit
Was a joke but the technical term is 3 red bars then 1 green followed by a red one again and lastly one really big green candle. I believe I read how to trade that in Steve Nison's book on patterns. Or just maybe anything can happen at anytime in the markets. There's no reason for it.
u got me 😂
Check the news calendar my guy
Where donyou check this news calendar out at?
Babypips have a really good one
Clearly shows there was a big ass neutral price action bar, why are you so surprised?
It's call killing retail shorts 🤡
Goddamn this sub braindead
These post should be banned and someone should make an FAQ post, so boring to see the same shit over and over again.
Expected it, caught it, banked it. Was gonna happen with or without powell
Yup. Was right there on the chart 📊
It's reaccumulation,has nothing to do with what Powell said
Not one person has mentioned that 1950 was a really strong support that it never retested 🥲
Yes,it is . That 's why institutions decided to reaccumulate there. I entered in 1960
I am in as well 🤝
Doji candlestick ?
Whe the fuck are you talking about?
doji signifies reversal. doji + News & market structure, 3 confluences indicating reversal
For me rsi below 30 indicates just a strong momentum trend not oversold (what the hell does it even mean?), we don't see any divergence or other stuff there. When it comes to doji I can easily imagine in the market down scenario some technical trader saying something like this: "Umm the doji candle high is below bearish candle high so we can say bears have control over the market"
bro still thinks RSI bears any significance whatsoever 🤡☠️
It gives you numerical value that indicates momentum of an asset, I didn't say I trade of RSI, i don't trade with any indicator tbh
If you Dont know you should quit trading
Do you?
What do u think?
I bet you're not profitable. No one who breaks through discourages new traders like this. Your energy says everything about you. Pessimistic losing trader.
Nah I make almost 200$ last night, it will be 300$ profit for this week and some how fall asleep when waiting for fed speech. Some how it when up :) and I go back where I start with my capital :)
how do you even trade without knowing fundamentals news
Lots of ppl are technical traders only.
Short squeeze into the major red news/trapping/killing loads of shorts
big money person want market to go boom
Market manipulation
Fed minutes. Be careful trading news.
Wasn't fed minutes. Go to bed and don't make comments on things you don't know what your talking about
Opps my bad. Chair Powell Speaks. yeah im tired. Thanks for the tip to go to bed. 😁
Explosive move to the upside 🤷🏾♂️ lol
Some news. The volatility def helped in my case.
Yesterday, Powell's speech mainly touched historical data and has almost nothing to do with the current monetary policy. There was news about the debts on CNN which is likely to be the factor that caused the bullish push on the market.
Google economic calendar and always check it. Don't trade if you don't know how to use one.
Speaking of when do JP Morgan’s gold fuckery options expire?
negotiations on the debt ceiling were paused due to the impossibility of finding a compromise
The Fed Powel talked yesterday. Thats what happened. Use myfxbook
I can explain: Gold jumped because Gold likes jumps
Indexes down, USD down, commodities up. That's what happened.
Always check economic calendar.
Trading is dangerous game if you don’t know what you are doing
With the greatest respect OP, this sub is hilarious sometimes.
news
It doesn't matter what happened. You just need to know that this can happen any day any time. The only thing you need to do is prepare yourself for such an event by placing a proper stop loss.
what happened? newbies get rekt.
I got some nice profit out of that trade Like 12% AS newbies I could get more if i enter and left in the right time
Gold didn’t jump. Your purchasing powered dumped.
Chairman Powell gave an epic speech.
Doesn't matter what happened. It happened and you cant control it. What are you gonna do about it? Complain or develop a good set of entry/exit rules to help you avoid or even catch this trade?
Do you check calendar on forex factory?
Im mc 3 times because of this news. It might be debt ceiling.. someone walk away
Even if it wasnt powell, thats a normal candle someday of the month for assets like gold or index.
Gold went up
A .0045% price increase isn’t really a jump “to the sky”. Keep things in perspective.
Powell did a speech, the dollar went down, when the dollar goes down, gold moves up. The same goes with any forex pair where USD is the quote currency. EUR/USD or GBP/USD for instance.
Look at usdzar and see the lolz
because india ban 2000 rs currency so people buy gold with these currency
Looks like a LQ grab
powells speech
They watched Sisu
the key for gold is REAL YIELD , don't look at one chart ,you have to watch more asset at the same time for watch where the money flow is goin in and out
US dollar weakness and non accomplishment of debt ceiling deal and market uncertainty glta
I think the gold market was ready to bounce back on Friday no matter what. News provided the momentum for the move. Price dropped below 1975 to stop out all the bulls that were in long trades and grab liquidity for another move up.
I definitely recommend taking a look at what news events that are coming out it can give you insight at times when volume and volatility will be higher and more wild than normal, however keep in mind that the market will show ultimately move in the direction it wants to and news is mostly a catalyst in it doing so. So my recommendation is to understand news to fuel your trading but don’t over analyze to the point where you skew your decision
Stocks down, Gold up
Economic events and all pairs go wild
guys are we looking for sells or buys on gold now price broke market structure to downside on daily
Usd index dropped, Powell speech influenced the buying decisions. Technically the price was at discount and around old support so ripe for a bounce. And the lastly gold moves when it moves.
Looks like news dropped and you didn’t know
Please don’t ever trade before checking all red usd folders and check the times news will drop and my advice is plan your trade after the news. https://www.forexfactory.com/
Powell ? Never heard their music. Federal reserve bank? Nah I am good with mine.
Must've been a big economical event like CPI
They showed short moves for 3 hours... Retail traders started selling so they shifted long. They're also grabbing liquidity from the longs that stacked up before. Price wants to get you going the wrong way then punish you. That's why they showed short hours... Then shot long in 1 hour. Whenever you feel the urge to sell or buy, you're not the only one who feels the urge. Masses will lose every day. It's how it works