AMAZING DAY IN THE ZOOM ROOM… More important news released, telegram update and trade set ups, and so on…
Vahid started by thanking everyone in the room and the community for kind words re the Adsense Income. He felt people may be disappointed by the numbers, but the sentiment in the community showed the opposite was true!
Remember! As we clearly now all know, there is simply no other social media opportunity that shares any revenue obtained through its day to day business with the members. LUCKSCOUT IS THE ONLY ONE, so thank you Vahid!
Vahid confirmed that if an ad attracts your attention on the site, you can click on it, and this makes money for the community, as well as it is what advertisers also want. Vahid projected an increase Adsense income to much bigger as we grow to amounts up to $1000 per day to share!
NO important NEWS FOR THE DAY was listed so we believed our trading will not be compromised by news releases. However, one room member did highlight a yellow news item of New Home Sales at 10AM. Vahid on reflection believed that this may be important after all in the current climate. If lower than expected would dent market confidence. The forecast for this news was on the lower side (bearish) so it was going to be interesting to see how the market reacted in the event the numbers were actually higher than the forecast.
The market opened and we saw a massive candlestick moving north, a minute or so after an initial downward move. Vahid took the buy trade (as I did), but he closed a minute or so later with a small “Demo” loss as the market started to quickly reverse down again.
Vahid said liquidity was going to be low for the day which means the amount of traders actively involved in the market was lower than usual. This often means more volatility which can be good or bad depending on which direction we are trading!
There was another resistance breakout on the upside on the 1 minute time-frame, but Vahid said the 1 minute chart was not a good time frame to asses a confirmation of a breakout, he did however take another buy position. Then the next 5 minute candle dipped once again towards testing the support line. He closed again for a small loss. Meanwhile I was holding on to my buy position as I suspect other members in the room were also doing. Since we are in Demo I saw no reason to react to the noise we were seeing in the 1 minute chart. We also had the news coming up on “New Home Sales”. Yesterday we discussed big players reacting to the news at least 20 minutes before the announcement and I took the view that it was possible the same thing was playing out and once the news was released to everyone, the buy we took showed by strong bullish candles early on in the chart below, may play out.
As Vahid correctly initially predicted (as usual) once the 10 am news broke, we saw a massive bull candle form once again, it did however reverse quickly after hit the lower support line so Vahid closed with 1 % loss. Sentiment was still good though on the 15 minute time frame and this was because the news was POSITIVE and above expectation on the New Home Sales.
All in all for many traders in the room trading with Vahid, were more confident in Vahid and his original sentiment. Those who held did well closing strongly out with a 2% profit for the session (I was able to this also).
We ended the session with Vahid unsure about his decision for taking the early losses when he was right all along. He then he took another buy position towards the end of the meeting when once again the resistance line at the top was broken. This clever trade inevitably returned him the lost funds earlier with a full 2% return. He did say he was going for a 4% return to end 2% ahead on the day. We will see if that played out and at the time of writing this, his 2% would have been bagged anyhow. Well done Vahid for another informative session and your brilliant incite and projections which as usual were sound.
Tomorrow there is an earlier 08:30 start. There will be a lot of news breaking of huge significance, so we will talk about this while watching the market play out in the hour leading up to the news. So bring your sandwiches and a hot drink tomorrow as it may be a l- o- n- g meeting. Tomorrow however GDP (Gross Domestic Product) will be released and this is of vital importance. These figures historically have a huge impact on the market.
Vahid said there is a huge W or butterfly pattern forming, but will not play out until later tomorrow. I will be watching this with huge interest overnight. It may also be worth watching the telegram channel for an alert should this play out before tomorrow’s meeting.
During the Q and A I showed my sideways narrowing channel to Vahid (in the chart below) who was able to confirm that it was a valid channel. this formed late last night in Europe after the US market closed
During the Q and A I showed my sideways narrowing channel to Vahid (in the chart below) who on the chart below we can see the support and the resistance lines converging meaning the price action where the tightening at the right end constricts the price, we often will see a price break out. Based on this I watched a break out to the upside and a confirmation candle that followed continued the trend. I took a buy position and set the stop and TP at 1% so a total of 3% on the day and very happy.
During the Q and A I showed my sideways narrowing channel to Vahid (in the chart below).
As you can see on the chart it played out perfectly.
Any questions on this please come back to me as I will help if I can, but like most of us, I am just getting out of my “complete novice category”… so don’t expect too much!
More of this tomorrow guys so until then thank you all once again for the massive support you have shown me for these daily reports and as soon as the choir video is done, I will pay close attention to answering as may comments as I can.
THANK YOU …THANK YOU …THANK YOU!