Fawad Razaqzada
TradingCandles.com
Understandably, a lot of inexperienced traders might struggle to survive, let alone thrive, in this market environment. But paradoxically, it is exactly times like now when some experienced traders tend to do very well. So, to help reduce your learning curve, I have put together this video showing how I typically look for trade ideas and manage risk, using example of my recent trades in my private group, all to help you spot similar opportunities in any market that you trade.
Whatever the market conditions, the way I see it, you have to be in tune with the market fundamentals and thus have a strong bias in terms of which direction you think the markets should be headed based on X, Y and Z. And equally, you must be open to the possibility to be completely proven wrong.
You then use your favourite technical analysis tools to look for entry and exit levels. For me, the entry has to be as close to support as possible in a rising market and, as close to resistance as possible on a falling market. My profit target(s) are typically around levels where trapped traders’ stop loss orders might be resting. That’s because the market is a function of liquidity. It moves from one area of liquidity to the next area of liquidity. Typically, these areas tend to be above or below price ranges. However, my targets can also be based on the nearest trouble areas (for example, near a recently broken support level on long trades).
So, this video is, above all, an educational one. I wanted to share examples of how I look for trade setups to help you spot similar opportunities in any markets you trade. My aim is to shorten the learning curves of new traders. There are lots of lessons in this, so I hope you take something on board!
The start of the video shows some of the highlights of the recent trades I will be talking about 2 minutes in.
Trading leveraged products such as FX, CFDs and Spread Bets carry a high level of risk which means you could lose your capital and is therefore not suitable for all investors. All of this website’s contents and information provided by Fawad Razaqzada elsewhere, such as on telegram and other social channels, including news, opinions, market analyses, trade ideas, trade signals or other information are solely provided as general market commentary and do not constitute a recommendation or investment advice. Please ensure you fully understand the risks involved by reading our disclaimer, terms and policies.
Editors’ Picks
EUR/USD stays defensive below 1.1900 as USD recovers
EUR/USD trades in negative territory for the third consecutive day, below 1.1900 in the European session on Thursday. A modest rebound in the US Dollar is weighing on the pair, despite an upbeat market mood. Traders keep an eye on the US weekly Initial Jobless Claims data for further trading impetus.
GBP/USD holds above 1.3600 after UK data dump
\GBP/USD moves little while holding above 1.3600 in the European session on Thursday, following the release of the UK Q4 preliminary GDP, which showed a 0.1% growth against a 0.2% increase expected. The UK industrial sector activity deteriorated in Decembert, keeping the downward pressure intact on the Pound Sterling.
Japanese Yen strengthens on renewed verbal intervention
USD/JPY extends its losses for the fourth successive session, trading around 152.90 during the Asian hours on Thursday. The pair weakens as the Japanese Yen strengthens following renewed verbal intervention from Tokyo.
Editors’ Picks
GBP/USD holds above 1.3600 after UK data dump
\GBP/USD moves little while holding above 1.3600 in the European session on Thursday, following the release of the UK Q4 preliminary GDP, which showed a 0.1% growth against a 0.2% increase expected. The UK industrial sector activity deteriorated in Decembert, keeping the downward pressure intact on the Pound Sterling.
EUR/USD stays defensive below 1.1900 as USD recovers
EUR/USD trades in negative territory for the third consecutive day, below 1.1900 in the European session on Thursday. A modest rebound in the US Dollar is weighing on the pair, despite an upbeat market mood. Traders keep an eye on the US weekly Initial Jobless Claims data for further trading impetus.
Gold sticks to modest intraday losses as reduced March Fed rate cut bets underpin USD
Gold languishes near the lower end of its daily range heading into the European session on Thursday. The precious metal, however, lacks follow-through selling amid mixed cues and currently trades above the $5,050 level, well within striking distance of a nearly two-week low touched the previous day.
Cardano eyes short-term rebound as derivatives sentiment improves
Cardano (ADA) is trading at $0.257 at the time of writing on Thursday, after slipping more than 4% so far this week. Derivatives sentiment improves as ADA’s funding rates turn positive alongside rising long bets among traders.
A tale of two labour markets: Headline strength masks underlying weakness
Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.
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