In today’s live session we spoke about the havoc that the US & China trade war is causing on the markets. Both sides began flip-flopping the days of their next meeting and their demands which has caused some unpredictable moves in the markets. We have created a solution to minimize our likelihood of being in a trade during Trump’s speeches. The session was then ended off by doing a full top -down analysis of the Dollar Index.
See our previous Article on US-China Trade War and What it Means for the FX Markets
Financial markets were in for quite a ride over the last 12 hours. We have numerous miscommunications from Trump and Xi Jinping about their next meeting. Trump is saying they will meet on Friday, but it will be an open meeting. Xi Jinping is saying they will meet tomorrow, and that they won’t take deal less than 50/50. These constant and erratic developments has led to huge spikes in volatility, which unfortunately put our trades in a bad spot.
Whether the two president’s meet tomorrow or Friday, we are all hoping that a deal is reached. This will allow traders to trade in normal conditions again. However, in case a deal is not reached and the trade war continues. We do have a temporary solution to offset any unexpected movements. We will be tracking Trump’s public speech schedule to ensure we are not holding or placing trades during the day/time of his speech. You may elect to follow him on Twitter, in case he tweets before he speaks.
You need to be proactive and willing to adjust when trading Forex during these times of market instability. We will continue to monitor the effect of the current changes and see if they need any tweaks. Hopefully, a deal is reached, and we can go back to business as usual. I will see you all tomorrow for another live session. Take care and happy trading!
Watch the Live Session Here: https://www.portal.forexlens.com/
Check out yesterday’s live session recap: October 9th, 2019
