Sunday April 5, 2020 - 18:21:43 GMT
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Forex View: How to Trade a Pre-Easter Market
The week ahead of the long Easter break is one where the forex market is generally dominated by book squaring and position adjustments rather than taking on fresh risk. This is especially true this year as traders have already scaled back risk due to the impact of the coronavirus.
What does this mean for trading?
It suggests being wary of followthrough adding to current tren, especially as the week winds on. This also suggests thinning liquidity as the long Easter break approaches.
Keep this in mind if trading as this is typically not a normal week, even more so this year. This suggests a week where forex trading will be dominated more by defense than offense. Look for equities to continue to set the risk tone. Watch the oil market as well.
For those using our Amazing Trader (and its Ladder Strategy course) and/or those who would like to get access, it is a program that can be used to identify when and where there are order flows going through the market. This is especially useful in a week that is likely to be dominated by position adjustments more than taking on fresh risk.
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