Trading 101

The EUR saw gains as its funding currency unwound with the JPY and the CHF on the risk off tones after the US thanksgiving. A funding currency is a cheap currency that you pair with high betas (like the NZD). So, the EUR gained on that. BUT the eurozone has surging cases. The services PMI have missed on greater COVID restrictions and this looks set to continue. The ECB meet in a few hours and they will almost certainly be dovish. More eur falls look highly likely.
The NZD is expected to gain on the RBNZ projecting rate hikes to 2.6% by the end of 2023. With the major Omicron fears fading AND the Fed now not spooking markets the NZD can see some more gains as the risk on tones now support the NZD.

I think, eu below 1.1370 is a selling opportunity.
I am already in sell. I will let it hit tp or sl.

You have to have courage and confidence, Let the trade hit SL. Let it.

when You can't let the trade hit sl take a break. Come back fresh.

FRANKFURT (Reuters) - The European Central Bank cut stimulus further on Thursday but promised copious support for 2022, confirming its relaxed view on inflation and indicating that any exit from years of exceptionally easy policy will be slow.
The bank said it would continue to cut bond buys under its 1.85 trillion euro Pandemic Emergency Purchase Programme next quarter and will wind down the scheme as expected next March.
It will ramp up bond buys under its longer-running but more rigid Asset Purchase Programme, however, keeping the ECB active in the market. The central bank for the euro zone has said it considers a spike in inflation to be temporary.
It will buy 40 billion euros of bonds under the APP in the second quarter, 30 billion euros in the third quarter, then from October onwards, purchases will be maintained at 20 billion euros, for as long as necessary to reinforce the accommodative impact of its policy rates.
"The Governing Council judges that the progress on economic recovery and towards its medium-term inflation target permits a step-by-step reduction in the pace of its asset purchases over the coming quarters," it said.

Although analysts expect the ECB to cut its bond purchases in half by April from now, the effective cut is likely to be much smaller as fresh government issuance is expected to fall, so the ECB will continue to hoover up most of the new debt.
Attention now turns to ECB President Christine Lagarde's 1330 GMT news conference where she will unveil fresh economic forecasts.

here is one of my template,
In EU weekly chart I can see price is probably move more lower in up coming week.

In daily chart I can see Choppy PA, In Choppy PA price bounce 1st or 2nd BB to 1 or 2nd bb. But the way Friday price move lower, I am expecting price will hit 12 level after that we may see break out.

EUR/USD has been in a tight trading range for a month so Breakout Mode. That means 50% chance of a successful breakout in either direction, and a 50% chance that the 1st breakout attempt will fail.

Most likely, remaining December EU will be in Range, From January 2022, we will find some good directional move, I think Trading the directional move in the daily chart will be highly rewarding.

yesterday bought GJ and took nice profit, Should have hold more
Bought gold took lose and sell gold took nice return yesterday.
Today sell gold and still running, expecting nice return in gold too.
1788 area I sell gold today.

Truth is fundamentally you will not always know the reason for market move, There is always a reason for market to move you will not know all of them, that is why trading technical is more convenient, Managing risk is absolute necessity.

Let's learn from expert trader. Enjoy

24 December 2021


Did some deep work with GU daily chart. Now I have a clear idea what I am looking for next 15 to 20 trading day.

Gj 1 to 3 rr trade

Trend is your friend,

Those who followed my trade, your in profit like me.
it is important to make big $$ when market in the trend

Gold overall very slow, it could move lower, what you think

2021 will be end with CadJpy trade.

Beautiful trend

Trend is strong I took small risk.

Let it run stop at BE now