May 23, 2012
- in Uncategorized by schooloftrade
Markets moving lower after disappointing news from Europe
Professional traders understand there is a balancing act going on at every moment of the day, buyers and sellers pushing in opposite direction to create price action. By understanding that the markets do not operate within a vacuum, and that there is a reason price rises or falls, it’s much easier for a trader to put the ‘people behind the candlesticks’ to interpret what the market is telling them. When price rises its either buying pressure or lack-of sellers. If price is to fall we need few buyers or more sellers, its quiet simple. If a professional trader is looking for specific clues to buy or sell, and this understand helps us define those clues. What are you watching all day? —————————————————————————————
The James’ Report: Day Trading Strategies for Professional Traders
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What happened Overnight:
– Bearish Sentiment takes control over the markets this morning
– Dollar index heat map says ‘bullish’, we look to sell retracements.
– Bank of Japan (BOJ) leaves interest rates unchanged with no new stimulus measures
– EU informal summit with Euro bonds likely the main issue
– World Bank cuts China 2012 GDP forecasts to 8.2% from 8.4% prior
– ECB said to be setting up team led by Asumssen to deal with possibly worsening of Greek crisis
– UK Retail Sales weaker than expected
– BOE minutes show Posen stays on the majority side
– Global PMI data on Thursday
– EU informal summit with Euro bonds likely the main issue
– World Bank cuts China 2012 GDP forecasts to 8.2% from 8.4% prior
– ECB said to be setting up team led by Asumssen to deal with possibly worsening of Greek crisis
– UK Retail Sales weaker than expected
– BOE minutes show Posen stays on the majority side
– Global PMI data on Thursday
– European equity indices opened the session broadly lower following negative leads from Asian and ahead of today’s EU summit, which is expected to cover measures to improve growth. The weakest performing indices include the UK FTSE 100, Spain’s IBEX-35 and Italy’s FTSE MIB. European banks are broadly lower, led by weakness in the French, Italian and UK banks.
