Daily Alert – Wednesday 23rd June 2021: Profitable reversal still playing out

Mark NugentDaily Alert, June 2021

Daily Alert – Wednesday 23rd June 2021: Profitable reversal still playing out

Hello traders.

As you will know from Monday’s Trading Plan, this week is all about trading the reversal, should it happen, from last week’s Fed-inspired rise in the USD. Well, it did happen, and is still happening. In the video I go through all the trades IO placed on Sunday night. Suffice to say we should get out of this week around 8 percent up, turning a boring month into a nice month. We are aided by very compliant markets. Even currencies are behaving themselves and the JPY is reacting to sentiment.

Trading has been difficult for a few weeks now with a lot of indecisive risk sentiment. But if we maintain the discipline of looking at charts and doing a bit or reading (around 15 minutes per day) then we can see the opportunities when they arise and make our move. There is no alternative, but it is not a huge effort, and it feels quite good to be on top of what really matters in the world.

Tomorrow we have the Bank of England’s Super Thursday which may move the GBP. On Friday we have Core PCE which is the Fed’s favoured measure of inflation and can move the USD. I do not plan to trade these events. My interest is more around how they may affect trades I am already in.

I will be back on Friday.

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