This Week's Outlook
Hello, last week I took a break from posting midweek outlook.
The US employment statistics released this weekend became a major event that drew the full market’s attention.
Have you been able to switch trading on and off properly and face the market calmly?
With the 503 method, you will be able to find a clear entry point that aims for a 100 pips gain even on days without special events. Even in large markets like this employment data, I believe the entry points became clear for purchasers and fit neatly.
It is ideal to trade calmly in your usual environment and aim for a 100-pip gain, rather than during events with large price movements. Because that approach reduces the risk of hitting a stop loss and leads to more stable trading.
In the past few weeks there have been many occasions of notable price movement. Beyond the points of attention in the method, there were sharp moves. However, by using the currently listed 503 method, purchasers should find it easier to see the market direction and the focus should be on simple setback (pullback) opportunities.
※ It is also extremely important to consider when to turn off trading.
If you are using an EA, you should be able to understand its characteristics and decide when to stop it running.
On the other hand, those trading manually may sometimes take on risk to enter. But basically, you should be trading in line with the market trend.
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For those who want to achieve FX results even when busy every day.
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Apologies for the lengthy explanation,
Now,
This week's currency pairs from the perspective of the 503 method. (Pairs with relatively smaller price movements are listed above.)
NZDJPY AUDJPY CADJPY USDJPY EURJPY CHFJPY GBPJPY | 〇 〇 × × △ × 〇 | AUDCHF CADCHF AUDUSD NZDUSD AUDCAD AUDNZD | × × × × × × | EURGBP EURCHF EURUSD EURCAD EURAUD EURNZD | △ × × × 〇 〇 | GBPCHF GBPCAD GBPAUD GBPUSD GBPNZD USDCHF USDCAD | 〇 × 〇 × 〇 ✕ 〇 |