Welcome to The Traders Podcast! This is Episode 388 and in this show, your host Rob Booker joins with Scott Welsh and Jason Pyles to recap the Rob Booker Live Conference in Arizona. Many thanks to all who participated in any way. For you and for those who couldn’t join us, please enjoy the videos of the conference at the link below. We have a great podcast today. Join us!
Editors’ Picks
EUR/USD looks to regain the 200-day SMA
EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis
GBP/USD slips below key averages as geopolitical risks mount
GBP/USD fell about 0.35% on Tuesday, settling around 1.3350 after slipping below the 200-day Exponential Moving Average for the first time since early December. The pair has pulled back sharply from its late-January high near 1.3870, shedding over 500 pips in a series of lower highs and lower lows.
USD/JPY extends rally as Middle East conflict adds to Yen weakness
USD/JPY rose about 0.15% on Tuesday, pushing close to 157.60 as the pair continued to grind higher following last week's sharp rally. Price has been chopping in a wide range between about 152.00 and 159.00 since late January, with alternating large-bodied bullish and bearish candles pointing to a tug-of-war between opposing forces.
Editors’ Picks
AUD/USD meets support near 0.6950
AUD/USD retreats for the second straight day on Tuesday, this time breaking below the 0.7000 level to hit new four-week troughs. The intense sell-off in the Aussie comes in response the continuation of the move higher in the Greenback, helped by robust safe haven demand amid geopolitical crisis.
USD/JPY extends rally as Middle East conflict adds to Yen weakness
USD/JPY rose about 0.15% on Tuesday, pushing close to 157.60 as the pair continued to grind higher following last week's sharp rally. Price has been chopping in a wide range between about 152.00 and 159.00 since late January, with alternating large-bodied bullish and bearish candles pointing to a tug-of-war between opposing forces.
Gold falls to near $5,100 as inflation fears weigh amidst Middle East conflict
Gold price faces some selling pressure near $5,100 during the early Asian session on Wednesday. The precious metal falls amid a renewed US Dollar demand and dimming prospects for US rate cuts. The US ISM Services Purchasing Managers Index report will be published later on Wednesday.
Ethereum: Whales step up buying as short positions contract
After holding firm heading into the last weekend, Ethereum whales have returned to action, pouncing on the volatility stemming from escalating military actions between the US and Iran.
Energy shock 2.0: Why rising Gas prices could hit the Euro Premium
Even without a confirmed, sustained disruption, the mere risk to a key global energy chokepoint is enough to inject a significant premium into European Gas markets. And for the Euro, that matters.
RECOMMENDED LESSONS
Making money in forex is easy if you know how the bankers trade!
I’m often mystified in my educational forex articles why so many traders struggle to make consistent money out of forex trading. The answer has more to do with what they don’t know than what they do know. After working in investment banks for 20 years many of which were as a Chief trader its second knowledge how to extract cash out of the market.
5 Forex News Events You Need To Know
In the fast moving world of currency markets where huge moves can seemingly come from nowhere, it is extremely important for new traders to learn about the various economic indicators and forex news events and releases that shape the markets. Indeed, quickly getting a handle on which data to look out for, what it means, and how to trade it can see new traders quickly become far more profitable and sets up the road to long term success.
Top 10 Chart Patterns Every Trader Should Know
Chart patterns are one of the most effective trading tools for a trader. They are pure price-action, and form on the basis of underlying buying and selling pressure. Chart patterns have a proven track-record, and traders use them to identify continuation or reversal signals, to open positions and identify price targets.
7 Ways to Avoid Forex Scams
The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?
What Are the 10 Fatal Mistakes Traders Make
Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.
The challenge: Timing the market and trader psychology
Successful trading often comes down to timing – entering and exiting trades at the right moments. Yet timing the market is notoriously difficult, largely because human psychology can derail even the best plans. Two powerful emotions in particular – fear and greed – tend to drive trading decisions off course.