Markets are relatively quiet right now. Although yesterday saw the S&P 500 Index, WTI Crude Oil and Bitcoin all make new multi-month highs,
Yesterday saw the British Parliament vote again on indicative Brexit options.
Friday saw the British Prime Minister’s third attempt to get Brexit past the legal hurdle of approval by the British Parliament fail, but by a significantly narrower margin of defeat than was suffered in the previous two attempts.
Revised U.S. growth figures have just come in, showing that the economy has grown at a slower than expected pace, increasing at an annualized rate of 2.2% as opposed to an anticipated rate of increase at 2.4%.
Last Sunday I wrote about how the Turkish Lira, represented by the TRY/USD currency pair, had made a new long-term high on strong volume, suggesting that traders looking to be long of this pair
Traders who pay attention to more “exotic” currencies such as the Turkish Lira will remember the summer of 2018, when the currency weakened dramatically and sometimes fell by as much as approximately 15% in a single day!
The U.S. Federal Reserve weakened the greenback yesterday as they reduced their projected interest rate increases to zero over 2019 and only a single hike in 2020.
A couple of years ago, I compared a couple of back tests: both were of trend trading strategies, but one waited for the price to make a 1-day low against the trend, while the other applied positive momentum in the direction of the trend with the entry being triggered only upon a minimum 8-hour high price.