The Sterling Way
Please remember tomorrow is the last day for joining TMS via our special rate annual subscription after which annual subscription purchases will likely remain closed until year end. You can join us and follow TMS system signals which have taken near to 1000 points for the month of August alone!
The Sterling has breached 154 today but that doesn't paint a direct route to 150 yet!
Instead the current price action is paving the way for the next 400 point move. If price can hold at current levels we have a chance to travel to 158 but should price pierce current support levels the Sterling will find a direct route to 150.
The Chart below is a Four Hour chart which shows the Sterling way forward:
Yes it is evident that the Sterling has pulled back after shying away from the 160 mark. The Sterling just didn't want to go above and before it was even on the agenda Tradingmarketsignals.com stated that price just won't go over the mark. Our TMS system also issued sell signals from which we took impressive gains!
So if price is at its lows for the month and because we've rejected 160, is that enough to conclusively pave the way to 150? For us at tradingmarketsignals.com the answer is clearly NO!
So if you're sitting flat on this market, what could you do? We see a 400 point move on the cards but if you were flat the best thing you could search for is CONFIRMATION!
Snap the blue line and we'll be visiting 150 but if you hold the blue line then you'll wonder after the event of printing 158! For added upside confirmation you could wait for the green line to be taken out in which case momentum should push price higher.
This would be the unbiased technical plan.
Last day of the month and TMS is as active as ever;
Our TMS system fired buy signals earlier for the Dow Jones at 9944 which is no surprise to us that the signal is currently gaining 100 points! Furthermore the TMS system also fired a buy signal for the Sterling at 15405 and the FTSE100 at 5139 the latter of which is gaining 90 points!
European Open
No doubt the European open was ugly with pricing in of the U.S. market sell off yesterday coupled with U.S. Future declines!
No surprise that tradingmarketsignals.com found total beauties in all that ugliness - like they say 'beauty is in the eye of the beholder'.
No doubt this is true in trading as sometimes the obvious action can be used to your advantage as the majority look the other way!
The tone this morning was as if some sort of bloodbath session would emerge once the U.S. markets chip in! One look at the screens and you'll see that everything has turned around and that's pretty much all that is required:
Discipline - You need to have a disciplinary type of mentality when trading:
- Plan - You need to have a systematic disciplined plan that can be formulated before you sit down to pull any trading triggers.
Discipline - You need to stick to this plan - No matter what the markets are doing:
- Reaction - Your reaction needs to be fine tuned to the markets action in conjunction with your plan. The market action is your reaction in line with the plan and this is where you enter a trade.
Discipline - Don't do anything differently from your original plan - follow your system, stop losses/limits, targets all as you already told yourself in your plan!
- Action - You have take action to take your trade of the table for a gain or loss as per your plan so don't give the market another reaction until you've gone back to STEP number 1. The market now gives you a reaction to your trade and this is when action is required to exit your trade/move a stop loss or place a limit.
Discipline -Go back to step one and go through the process repetitively.
In a nutshell:
- Markets can differ
- Trends can change
- The markets can change the way they move in line with volatility & other factors
- No doubt your plan changes each day with each market dependent upon price action and other factors
BUT your process from step 1-3 must be REPITITIVE in order to give yourself a chance of trading success.
Feel free to ask me questions directly: info@tradingmarketsignals.com
My name is Ajit Singh and my work with the financial markets started from the young age of 17. We are www.tradingmarketsignals.com and so far in August our TMS system has gained 886 points(Closed signals) from five major markets: Dow Jones, Euro, Sterling, FTSE100 & Crude Oil in addition to which some gaining signals are still open with more triggers taking place this week!
Please note our annual membership offer ends on the 1st of September after the U.S. markets close.
http://tradingmarketsignals.com/#/tms-annual-membership-offer/4542738012
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