Trade Copier
Price action with excellent money management.
One can understand if a trader decides to stand on the sidelines before a potentially huge market moving event like the FOMC statement tomorrow - especially when the next day is followed by another policy statement and market moving event from the European Central Bank.
I mean there is just simply too much uncertainty out there to trade?
Yes and no. I could understand if this is the decision an investor comes to. I highly respect it. You either trade the news or you don't.
There are positives and negatives to each; waiting until after a news release you can enter into a new positions with a seemingly better idea of the market direction although most likely the majority of the move from the news event has already taken place, while taking a technical signal before a news event can lead to a quick loss or a position quickly falling into nice profit. In both circumstances you must always use a stop loss to protect your capital.
Traders protect their capital.
As a technical trader I always trade through news events understanding the charts price everything in.
Let's take a look at the charts:
1. We see in the area circled in blue that currently the TrendCCI is positive (strong buy signal) with the EntryCCI just snapping back from being negative brining some price momentum with it.
2. Here price is taking out the precious day's price bar's high (which was also a down price bar) and with an engulfing candlestick pattern giving us a buy signal.
Points #1 & 2 are the same above on the EUR/USD chart which is why I posted the AUD/JPY signal right below so you can refer above if needed.
Things can be a little tricky out there with the FOMC Statement tomorrow at 2:15pm EST. Anybody taking new positions ahead of the Fed?
I mean there is just simply too much uncertainty out there to trade?
Yes and no. I could understand if this is the decision an investor comes to. I highly respect it. You either trade the news or you don't.
There are positives and negatives to each; waiting until after a news release you can enter into a new positions with a seemingly better idea of the market direction although most likely the majority of the move from the news event has already taken place, while taking a technical signal before a news event can lead to a quick loss or a position quickly falling into nice profit. In both circumstances you must always use a stop loss to protect your capital.
Traders protect their capital.
As a technical trader I always trade through news events understanding the charts price everything in.
Let's take a look at the charts:
EUR/USD Buy Signal from the Daily time frame
1. We see in the area circled in blue that currently the TrendCCI is positive (strong buy signal) with the EntryCCI just snapping back from being negative brining some price momentum with it.
2. Here price is taking out the precious day's price bar's high (which was also a down price bar) and with an engulfing candlestick pattern giving us a buy signal.
Similar situation on the AUD/JPY offering another Buy Signal
Points #1 & 2 are the same above on the EUR/USD chart which is why I posted the AUD/JPY signal right below so you can refer above if needed.
Things can be a little tricky out there with the FOMC Statement tomorrow at 2:15pm EST. Anybody taking new positions ahead of the Fed?
