Until this day you hear people talking about the 1987 crash, the burst of the dotcom bubble is in everyone’s memory, and just recently, in 2008, the subprime crisis triggered a whole bunch of events, that, in my opinion, haven’t been figured out until this day.
This is only week five in 2016 and markets are still all over the place. It’s not just the indices that keep being interesting. Forex markets add some fuel to the fire of excitement in trading these days, too. Let’s have a look at what major developments took place.
I had mentioned the obvious loss of steam in Gold to go down much futher before. A huge divergence has been forming on the higher timeframes with price trying to break out to the upside various times. Last week another attempt to turn the direction of this market around has been taken.
The world indices are not looking good so far this week, the upside from the last two weeks of trading is fading slowly, at least that’s what it looks like halfway through the new week. We don’t know how it will end, if the current intra-week downaction is just another re-test of support, or if a continous move to the downside exceeding the mentioned support area will occur.
Even though 2016 started off as a massive down-year, closing out the week this Friday we’re ending the first trading month of the year with markets at least breathing a little bit. Some important support areas have been hit, and price wasn’t able to move through these levels towards the downside, instead it reversed quite obiously in all major World Indices as well as some other markets. Let’s take a look..
Very interesting aspects on trading psychology are discussed with one of the most valuable people in the field of trading psychology. Unfortunately deceased, Mark Douglas has written two very good books on the subjects, The Disciplined Trader and Trading in the Zone.
It ‘s very simple: how many of you really have the chance to put in the time and effort to trade on short timeframes to profit from smaller market fluctuations? In order to get rich quick, of course.
Pretty much no one! Because it’s not possible, either!