Follow on FaceBook – Twitter – LinkedIn – YouTube and Instagram!!
PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR WEDNESDAY 8/03/23
Markets took a turn for the worse and were risk off after Powell suggested that the Central Bank could raise rates more aggressively than previously expected. Traders had to re-position for a potentially higher interest rate environment as recent bulls closed long positions. The USD rallied hard and US bond yields spiked and never looked back. Inflation remains a problem which is not going away so we may see further risk off in the coming sessions.
I remain of the view that sticky inflation is the big issue and will weigh on share markets if the Fed, and other major central banks like the RBA, ECB and BOE, can not get it under control.
I expect that we will see a negative Asian session today with selling from the open across the Nikkei, HSI and ASX200 which are all a little extended.
Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch.
CLICK HERE FOR FULL ECONOMIC DATA OUT TODAY (AEDT) 8/03/23
Join Our TRADERS HUB DISCORD CHANNEL for updates and trade ideas (email firstname.lastname@example.org for the link)
Watch the FULL REVIEW here 👇
KEY LEVELS AND MARKET OVERVIEW INTO THE ASIAN SESSION OPEN
Disclaimer: the contents of this post are presented for informational purposes only. They should not be viewed as investment advice, nor a solicitation to buy or sell any financial securities. Investments in financial products are subject to market risk. Some financial products, such as currency exchange, futures, contracts for difference, options and warrants are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. Trading currency exchange, futures, contracts for difference, stocks, shares, options and warrants on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in currency exchange, futures, contracts for difference, options, stocks, shares and warrants you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with currency exchange, futures, contracts for difference, options, stocks, shares and warrants trading, and seek advice from an independent financial advisor if you have any doubts.