rss

USDJPY moves closer to the low extreme over the last 5-6 days

Range is only 54 pips over since July 1

The USDJPY moved below and stayed below its 100/200 hour moving averages at the 107.52 area and stayed below. That give sellers the go ahead to push lower.  The overall dollar selling also has helped the bias (in a more limited move however compared to other currencies).
Range is only 54 pips over since July 1
The fall has taken the price to 107.28. That is just above the swing lows from Monday and Tuesday between 107.239 and 107.25.
The range since July 1 has only been 54 pips with a low at 107.24 and a high at 107.78.  Moving below the lower extreme should open up the door for a test of the 50% retracement of the move up from the June 23 low. That level comes in at 107.112.
The range for the day is now 42 pips. The average over the last month of trading is 59 pips. So there is room to roam on a break. However, that requires a break below the week’s lows.

European shares end mostly lower on the day

The fall in US stocks stabilizes.

With the press conference from VP Pence more up beat on states like Arizona and Florida has helped to push stocks back in the black. The S&P index is currently up 0.15%.  The dow is up 0.03%. The NASDAQ remained a positive although the low percentage got down to +0.07%. The index is currently up 0.75%.
In Europe today, the major indices closed mostly lower with the exception being Portugal with a gain of 0.54%. The declines were led by Spain which fell -1.62%. The final numbers are showing:
  • German DAX, -0.97%
  • France’s CAC, -1.24%
  • UK’s FTSE 100, -0.55%
  • Spain’s Ibex, -1.62%
  • Italy’s FTSE MIB, -0.57%
  • Portugal’s PSI 20, +0.54%
The fall in US stocks stabilizes.

What kind of person you are “outside the charts” will help determine what kind of trader you will be “inside the charts”.

If you are of the first kind, “the wills”,  you will overcome all the obstacles on your way to consistent success.  You will accept, even embrace, uncertainty as the driving force behind the next big opportunity for gain.  You will lose gracefully and move on to the next trade, knowing that trading is a game of probabilities and possibilities; not certainties and absolutes.  You will leave money on the table, thankful for what you were able to gain; not bitter by what was left.  If you are of the first kind you will succeed. You will indeed.

If you are of the second kind, “the won’ts”, you will look for the always elusive easy road to riches.  You won’t believe in the effort required to become a disciplined trader, driven by solid habits repeated daily. You won’t apply the skill necessary for managing risk as that would require planning and preparation, something you just do not have time for.   You won’t develop your own well defined trading edge, depending instead upon others to do it for you. If you are of the second kind your opposition to anything other than what is easy will make it quite difficult to succeed when times get tough, and they will but you won’t.

If you are of the third kind, “the can’ts”,  you will blame everyone and everything for your failures.  You can’t succeed because you are too busy finding fault in any trading strategy that produces a loss.  You can’t succeed because anyone who does so has some special knowledge or gift that you obviously cannot possess.  You can’t succeed because the market is rigged.  If you are of the third kind…quit. You are a quitter with a quitter’s attitude.  Be in the majority. Be a can’t. It’s easy.

So, what kind of person (trader) are you?

US coronavirus – Texas new cases up by more than 10,000 in just one day

+10,028 which brings the total to 210,585

More than 10K in a day is a new record increase for the state. Some of this is due to the 3 day weekend, numbers still catching up from the long break. Even with the catch up out of 57,558 test performed the positives come in over 10K. This is a stunningly high positive rate, indicates testing is not nearly sufficient and that the actual number of cases out there is much, much higher.
More records broken in Texas also today:
  • 60 deaths recorded, new record high for a day. Death toll above 2,700 now.
  • hospitalisations have hit a new record high at 9,286 (9th day in a row of record hospitalisations), up 588 from the previous day
trump coronavirus