Currency Market: GBP/USD day trade and USD/JPY weekly trade
AUD/USD for RBA traded 40 pips and in one direction. What effect does wages, Inflation, GDP, promises to raise interest rates today, tomorrow or 1 year from today have on the current or future market price. The answer is zero effect. The market price doesn't care so all the many pages to written words regarding economics is meaningless. Its meaningless to trades, direction and profits.
A market or currency price is as good as the MA allows. AUD/USD achieved 0.7119 today from 0.7028 RBA lows due to oversold rather than RBA words.AUD/USD doesn't care about RBA words.
In past years, possibly economics contained value but in today's new trade environment, its no longer the case. This is year 2022 and traders must not only accept the new reality but massive trade strategy adjustment is required.
USD/JPY Weekly Trade
Short 115.39 and 115.52 to target 114.18. Long 114.18 to target 114.58. Or short 113.79 to target 113.38. Long 113.38 to target 113.52.
Result: top 115.52, perfect. Lows 114.55. Trade runs +97 pips.
Perfection is maintained yet its impossible to not achieve excellence as trade strategies are not only in place for many years but designed for perfection and includes day trades, 24 hour trades and long term trades.
Targets and entries are achieved on 19 currency pairs per week. Honestly, tell me anyone that can achieve this status. Few if any exist.
My work over many years and contributed freely to Fxstreet and my blog at btwomey.com was offered with the hope to assist traders with trade strategies, profits and market understanding. Understanding must include data entries to quantify market concepts. The life of a trader is all about data and exist as a duty to this day.
My hard, hard work was done over years and years of weekends with honesty, integrity and gained was a wealth of knowledge. God's blessings allowed me to hang around. The hope today is I'm assisting traders to make trading life and profits easier.
I severely differ with the dishonest, crooks, currency analysts and professional losers of our day and many exist. They haven't begun to live the life of a true analyst and trader. Dishonesty doesn't make money but only brings a hard life to victims by theft of account money.
Day trades offered are extraordinarily fascinating. I have seen and learned concepts that I never knew existed and these approaches will apply to future day trades. We day trade 8 currency pairs twice daily or nearly 24 hours per day.
Far more is going on with day trades than what is revealed.
Imperative to day trades are the levels offered and those levels are mathematically exact. Again, show me anybody to perform such functions. None exist.
Long Short Line 1.3451
Most Important 1.3406 and 1.3420 Vs 1.3459, 1.3468, 1.3476, 1.3485, 1.3502, 1.3510 and 1.3519
Bottom 1.3383 achieves by 1.3417 and 1.3400
Upper target 1.3519
Continuation Fail 1.3485
GBP/USD traded 31 hours from Sunday's open from 1.3386 to 1.3516 or 130 pips or 4.19 pips per hour.
GBP/USD best weekly trade time was yesterday in the hours from 6:00 am to 9:00 am as GBP/USD traded 37, 27 and 33 pips. GBP/USD 2nd best hour traded today 35 pips from 2:00 am to 3:00 am.
1:30 am to 2:00 am = 1.3443 to 1.3449 or 6 pips.
2:00 am to 3:00 am = 1.3443 to 1.3478 or 35 pips.
3:00 am to 4:00 am = 1.3469 to 1.3482 or 13 pips.
4:00 am to 5 :00 am = 1.3480 to 1.3500 or 20 pips.
5:00 am to 6:00 am = 1.3494 to 1.3502 or 8 pips.
6:00 am to 7:00 am = 1.3493 to 1.3513 or 20 pips.
7L00 am to 8:00 am = 1.3500 to 1.3475 or 25 pips.
8:00 am to 9:00 am = 1.3476 to 1.3496 or 20 pips.
Results: 1.3443 to 1.3513 or 70 pips. The hourly pip average dropped from 20.75 yesterday to 18.37 today.
Author
Brian Twomey
Brian's Investment
Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.
