Many of the Markets Are About to Trend
In my yesterdays article, I talked about a great tool to follow the trends. Make sure to read it one more time and follow the trade setups I have marked on the chart I have posted in the article: The Safest Way to Use Stochastic Oscillator
Many of the markets have been moving sideways in a very tight range for such a long time. However, after the United States election, it seems that money has started flooding towards the United States. Although this movement has not been enough yet to make the markets get out of the range and start trending, we are still at the beginning and it is strongly possible that some of the markets start trending and keep on doing it for such a long time.
Therefore, the first thing you have to consider is to be careful not to go against the trends that are on the way, because nobody knows when the markets will breakout and get out of the range. Having a wrong position can easily wipe out your account overnight, or can make you get marry with a losing position for several months or even years.
The other thing you have to be careful about is waiting for the trends to get started and then taking the advantage of them as much as possible.
You can learn the trend following systems and tools now to get ready for the big movements and trends. One of the best one is what I taught you yesterday.
In addition to the stocks that I have already talked about them in details (see this category), many of the currencies can start trending against the other currencies very soon.
USD/CHF is one of the currency pairs which is so likely to start trending. It has been moving sideways on the daily, weekly and monthly time frames for such a long time, and it is strongly possible that it starts and uptrend sooner than later.
However, you can’t enter this market now just because it is strongly possible that it forms an uptrend. You have to wait for a strong long trade setup to do that.
EUR/USD market has been strongly bearish, but it has been busy forming a consolidation on the weekly and monthly charts. It is possible that it breaks below the consolidation support line and continues the downtrend:
CAD/CHF has been moving sideways as well, but it is strongly possible that it forms an uptrend because Canada’s economy is highly dependent on US economy and when US economy improves, Canada’s economy does the same.
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Good luck 🙂