We STILL continue to trade and live in very strange times.
All change through the revolving door at 10, Downing Street, the markets, for now, seem happy enough that Rishi Sunak is going to “Bend the Knee”.
I never thought, I would ever witness two back-to-back 0.75% rate hikes from the ECB, but that happened last week as Lagarde posted the second one.... many traders would have had nose bleeds on the back of that.
The fundamentals that I have talked about for the past few months still remain and, if anything, the macro pressures are intensifying as we enter the US mid-terms and continuing US uncertainties moving forward not just from a persistent FED with interest rate hikes but also underlying economic issues that must be causing some eyes to be opened a little wider. Nevertheless, it would appear stubbornly we ride on like the charge of the light brigade “into the valley of death rode the 600”. We all know what the outcome will be yet onwards we go...
In my opinion the markets are moving ever closer to the “Tipping Point”, and I believe we are in danger of witnessing a “Market moment” domino effect sooner rather than later on the back of sliding economic data.
I look at this, amongst other market fundamentals in my SOAPBOX inside my ZOOM Presentation below: -
THE WEEKLY FX DRIVE THRU BLOG (ZOOM EDITION):
WEEKLY FX PREMIUM PERFORMANCE:
OCTOBER and YEAR TO DATE
Moving on...
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Finally, always remember longevity in Forex trading can only be achieved through trading with a good MINDSET, RISK, TRADE and HEAD MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility. Trade with a TRADE PLAN, basically, plan your trades and Trade your Plan.
Be grateful for your wins and count them. Keep a POSITIVE MINDSET in play at all times, regardless of the market conditions.
Scott Pickering
The Pip Accumulator
Twitter: @weeklyfxpremium (Restricted feed - FX PREMIUM Trade Information)
Twitter: @theanalogtrader (Restricted feed - FX PREMIUM Market Commentaries & Views)
Twitter: @thepipaccumulator (Open feed)
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BLOG VERSION: #475 FREE NEWSLETTER & COFFEE SHOP
DATE: 30th October 2022
“THE ASSASSIN OF HOPE” – THE BOE WILL HIKE IN FEBRUARY
FROM A DOVISH HOLD TO A HAWKISH HIKE
WHAT MATTERS TO THIS FED?
THE UNCERTAINTIES TAKING ROOT