Some caution ahead of this week’s NFP!

Hi everyone,

First of all, this is a reminder for you to book your coaching in with me as soon as possible, especially before your coaching session expire!

If you need assistance, please do not hesitate to contact Katie.lewis@learntotrade.co.uk to help you book yourself in.

I recommend you book in for coaching this week, or next.

As for general trading conditions, please note that this week Friday is Non-Farm Payroll day, and the market is very likely to swing about wildly between Thursday and Friday. In order to keep yourself safe, I recommend you do not trade on either Thursday or Friday this week.

I will go over this in greater detail in this week’s Midweek Market Focus!

Also, if this week becomes very sluggish, and hardly moves between today and Wednesday, it’s likely due to the market deciding to wait until then, and being undecided, or pausing. This is in itself a indication to wait and not trade.

From a technical analysis point of view, please note the following can contribute to extreme changes in daily trends:

All the charts below (weekly/daily/monthly) show the majors at or very near key horizontal levels, starting with the USD Index- this indicates that a reversal could well happen this week- this is often the case when the market hits key levels at the same time- then, it’s the US Dollar that will probably tip the game. Please be aware of this!

NFP_CHF NFP_DX NFP_EUR NFP_FTSE NFP_GBPUSD NFP_nzd

Interesting commentary on current conditions – 2 minutes watching.

I don’t normally watch this kind of stuff, but this clip is pretty decent, and relevant to my analysis two weeks ago, and my cautionary post earlier today. (Plus my analysis 2 weeks ago, if you haven’t watched it, is posted below this clip):

My analysis two weeks ago:

Caution when trading this week, and NFP on Friday!!

Hello all,

Most of the charts I’m looking at, from equities to JPY, CAD, AUD charts, are all going through retracements or consolidations across the board, so it could take a few days to a week for clarity to return.

I don’t foresee any changes to the monthly trends just yet, but many of the weekly charts are in phase 2 (retracement), and this is what is causing so much chaos on the daily.

There were some good setups last night, all of which reversed violently, indicating no trend, or safe trades on the daily charts just yet. From a technical perspective, this is just a long overdue retracement, since these charts have been trending so much since October.

Intraday traders may have good opportunities, for small-distance trades, when trading below the M60 timeframe, but only so long as the M120 (2 hour), and M240(4 hour) are in agreement!

Be careful out there this week! And it’s also NFP this Friday!!

My advice- stay out for this week- take a break. Come in for your coaching 🙂

Adam

Caution ahead of this week’s Non-Farm Payroll figures

Hi everybody!

This is just a regular reminder to be cautious and even more selective in your trading this week, as NFP is NORMALLY the first Friday of each new month. My advice is to avoid any setups on the daily chart from Thursday night onwards, and certainly to halt any intraday trading at least 4 hours prior to the numbers being released.

This month’s NFP is set for Friday the 10th January, instead of the 3rd.