Introduction:
Welcome to a glimpse into my daily routine as a trader, where I walk you through the intricate details of the trade sheet I produce for my subscribers every day. Join me on this journey as we delve into the market analysis, buy levels, sell levels, stop-loss strategies, and profit targets for various assets.
Market Analysis:
Let’s start with gold, where I’ve identified a buy level at 2168 – 2163 that has proven to be quite successful in recent weeks. Moving on to May Crude, I’ve pinpointed buy levels at $81.40 – 81.10 and a stronger support level at $79.80 – 79.40. The analysis combines Fibonacci levels, moving averages, and trend lines to make informed trading decisions.
EURJPY Analysis:
In the EURJPY market, I’ve identified key buy levels at 163.60 and 162.60, supported by Fibonacci levels and moving averages. These levels coincide with swing highs and provide potential buying opportunities in the bull trend, with oversold conditions acting as an additional catalyst for entering long positions.
CADJPY and Yen Selling Strategy:
Similarly, in the CADJPY market, a confluence of moving averages and Fibonacci levels suggests a strong buying opportunity. It’s essential to note that all trades discussed involve selling the Yen, with a cautious approach to managing risk and position sizing.
Trade Execution and Risk Management:
Managing risk is paramount, especially when executing multiple trades. I recommend diversifying risk across trades and adjusting position sizes accordingly.
New Trade Opportunities:
Highlighting a new trade for the day in GBPNZD, I explore the rationale behind the buy level at the 2.0920 area. Breakout strategies, supported by technical analysis indicators such as trend lines and Fibonacci levels, offer a fresh perspective on market entry points.
E mini S&P Analysis:
Lastly, I delve into the E mini S&P market, outlining a buy level around 5240 based on support levels, trend lines, and moving averages. Buying the dip strategy has been lucrative in the US indices, emphasizing the importance of capitalizing on market fluctuations.
Conclusion:
A methodical approach to market analysis and risk management is key to successful trading. Stay tuned for more market updates and trading insights.
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With almost 40 years experience, Jason Sen began trading his own account on the floor of the London International Financial Futures Exchange at the age of 19, in 1987. He spent 15 years specialising in market making interest rate and index options on floor then moved on to trading forex on screen at the turn of the millennium. He is also recognised as a skilled technical analyst developing this expertise for the last 20 years.
His extensive trading experience from the LIFFE trading floor to screen trading and deep understanding of technical analysis give him a thorough understanding of the financial markets and the factors that drive them.
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