Vahid blitzed it AGAIN today with another 2% bagged!
Firstly….. Did you get the new November zoom room invite email?
Vahid sent out the invitations to everyone as usual but it failed to show in my email in either junk or inbox. I had to message Vahid for the link. There were 32 in the room today which was lower than expected, so if you had email issues then post below.
Today’s big News was Bureau of Labor Statistics
Number of job openings during the reported month (JOLTS Job Openings), excluding the farming industry the news is important especially if the number is greater than forecast its good for currency. However, If dollar goes up often the US 500 can go down at the same time.
This Jobs news is monthly. We looked at last month’s effect and the numbers were worse than the forecast. On October 3rd (the day before the last months notice) we had a speech from the FED chairman Powell which was bullish for the market. This moved the previous day’s market north. The news was released at 10am on the 4th and the news was worse than expected. This is bad for the dollar. When this happens the market normally continues to move up. On the 4th we saw this happen briefly continuing the rise from the 3rd and early morning trading.
The news was to be released at 10am TODAY US time. However as Vahid has spoken about before, the big players appear to either be aware of the likely news release some time before the official posting, or anticipate it. We saw the dollar rise in value while the us 500 dropped in the 30 minutes before the official news release.
With all the above in mind we watched the moves in the market at the opening, were prices dropped and continued to go South (SEE CHART BELOW) . As we see on the chart the red support line was broken around this time and with the dollar moving up and the news released (more job openings than expected) we assumed the market dip would continue. We took a sell position where it is marked on the chart below.
The dip was strong and aggressive and within 20 minutes our profit was banked!
We should watch the telegram replay if possible to get the detail on this, but once again Vahid showed how the analysis and fundamental support and resistance lines play such a strong role in the adoption of a market position to the buy or sell side.
If we are able to use these lines as shown in the chart below, this will show us where the areas of interest are. These are often key areas during the early part of the US trading day which is why Vahid always starts the sessions 15 minutes before the US 500 opens at 09:30.
Rather like learning to drive a car all this may seem very difficult at first, but once we begin to understand the fundamentals behind the market sentiment at any given time, based on news and support and resistance. Successful trading will become less of a mystery to solve and more of a natural progression when just like our driving test we finally pass!
More Tomorrow Guys
If you have had an invite into the room please make use of it as you will quickly grasp the basics and the mist will begin to clear.
Well done Vahid on another successful trading day 👍💕😁
