Ok we’ve had some very sharp moves in the markets this afternoon and for any of you who had a chance to watch the Hedging Analysis given on Sunday ☺️
You would’ve noticed a lot of the trades went in the MAJOR 🎖direction we were looking for! Instead of the pullbacks 🏹we were looking at. 👀
We also covered the importance of fundamental 🎓data which drives volume 🎙(other market participants into the market
Remember this is the key data we focus on when trading Forex!!
What to look at here! Actual vs Consensus vs Previous!
Which one Ewan? Well it’s simple! Most people compare previous results to actual results and that is WRONG! 🧐
You need to compare Actual vs Consensus (What was hoped for) 🤓this gives you a strong idea of which direction the market is likely to head in!🥳
Now based on where your positions are in the markets:
Actual (Worse) than Expected (Consensus) it’s likely to pursue down/south 📉
Actual (Better) than Expected (Consensus) it’s likely to pursue up/north📈
Combine this with Volume and Support and Resistance (You’re laughing 😂 all the way to the 🏦)
Last point is to pay attention to Medium and High News Events which are the Yellow/Amber and Red alerts on your economic calendar 📆
With that all cleared up! Let’s focus on some of the charts we looked at a few days back
Check the above video for a complete breakdown!