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Djamel Brahimi

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Everything posted by Djamel Brahimi

  1. @Mohammed Abdullah I tend to trade flag breaks on the direction of the trend. So for example when price holds up a little at a certain level, when it breaks that level I will enter on the break with my stop at below or above the other side. I will send a pic outlining my strategy for all to see. Maybe by Monday or something.
  2. Price hit my initial TP! So annoyed! Seems as though we could break this trend line. Any targets your looking at @Jon Steeler? More downside you think?
  3. I didn't hold it for long enough (one of my issues) closed my position at 1655. might try and get back in again. Not sure thats a good idea though, dont want to chase.
  4. Also got a sell entry on the one hour pull back this morning.
  5. Hi sam. you might be right, price seems to be struggling to break through the 1700 level. I may try to get a sell entry here somewhere. looking to take it all the way down to the 1580 level I think. Before i start looking for buy entries once more.
  6. I wanted to start a thread for anybody trading gold. For everyone to get insights and ideas on where they think it will move, how or even learn how to trade it. I am looking for it to now move towards the 1700 level and would love thoughts and ideas below. All ideas from people of all levels welcome...
  7. Djamel Brahimi


    UK economy and GBP to be affected by coronavirus spread?
  8. What is a better platform for charts only, TradingView or ThinkorSwim?
  9. Djamel Brahimi


    How far will Silver fall if it breaks its current trendline?
  10. Djamel Brahimi


    Will the European economy and the Euro be affected by the coronavirus?
  11. I want to know if anyone has any successful strategies when trading FX?
  12. Hi Nick. I want to firstly say that I am a macro trader. And so, I don't really focus too much on the technical aspect on charts. However, my opinion on the pair is that we will see it head lower first. Reasons being are that we have just seen the potential for a BoE rate cut at the next meeting fall, which means traders and investors will now have to price in a lower chance of a cut at the next meeting. Another reason is, of course, Brexit. Now that the withdrawal agreement has passed, the UK can focus on trade deals. Of cours with the EU but also with other countries. And I believe they will be starting talks with Japan soon. We have also seen talks of investment flowing back into the country which will only be good for the GBP. So all in all, i think the reasons above will strengthen the GBP, especially in the long term. I don't expect us to get towards 0.90 at all. Although who knows, I could be wrong, markets are funny that way.
  13. As a long term/swing trader, i don't believe day trading is a good idea for someone that is new to the industry (which sounds like you are). However, if you are persistent in wanting to day trade, i would suggest looking at the hourly. Trading can be fast paced and you don't want to constantly get stopped out on big swings in the lower timeframes. If possible, try and expand further to the 4 hour and daily to begin with, get comfortable and understand the markets better, then lower your timeframes.
  14. You can't really no for sure in these instances, but i do have my own reasons. I believe it is because of the overall macro picture. We have seen an escalation in fears regarding the coronavirus. And, because of those fears we will see capital flows into safe havens. The euro is more of a safe haven than the GBP and so we saw it weaken overall today.
  15. Djamel Brahimi


    Whether the Bank of Canada will cut rates or not is impossible to know for sure. However, their last statement did open the door for a rate cut or rate cuts. So, in light of that it means that the markets will start to price in a higher chance of a rate cut, and we can already see that the CAD has lost some ground against other currencies. Should the BoC come out with a more hawkish stance, we will see the reverse and the CAD will strengthen again. That is not the only thing that is weakening the CAD right now. We can also put some of it down to the weaker oil prices of late.
  16. I explained these in another question regarding gold. But there are a few although some are more prominent than others. Of course there are more specific ones to each reason but I will list the global ones. First is the trade war which we have seen a phase one deal signed and so should not cause too many issues in the next couple of months. Next is the situation with Iran which was de-escalated and we hopefully won't see it escalate again. Then there is the virus in China which is quite a big risk and making markets nervy. If it continues to escalate I suspect we will see a sharp sell off and flows into safe havens. Finally there is one that is more of a long term risk. It is global debt. Debt levels globally are extremely high and are posing a real risk. But if the fed keeps providing liquidity then it won't be an issue. But, as we know, nothing can last forever.
  17. A lot of people will tell you yes, whenever your in good profit move stops to B/E. i think it isn't a good idea. I believe that you should definitely trail your stops but moving it to breakeven just to protect risk is detrimental in the long run. Especially if you move the stop too soon or when it is only in a little bit of profit. It is better to trail your stops according to where you believe that your trade idea is no longer valid.for example, if the market has gone in your favour by 80 pips and has smashed through a key level at 30 pips into profit. then it would be a good idea to move your stops just below or above that key level. By moving stops too soon you also reduce the percentage chance of the trade becoming a profitable one. So only move them to b/e if there is a logical reason why, not just to reduce risk.
  18. This is a difficult question to answer with just a yes or no explanation. Gold has recently broken a trend line to the upside. But, gold is of course a safe haven asset. Meaning that when there is risk in the market, capital will flow into gold pushing price up.Another important factor to note is that gold is also a hedge against inflation, which means when inflation ticks up then so will gold. So if we look at current market risks can look at the trade war, issues with Iran and the virus spreading across Asia. Firstly, we have seen the issues with Iran calm down and so we can count that out for now. Secondly, there is the trade war, which has seen a phase one agreement signed, and so shouldn't be an issue for a month or two at least. Which leaves the only risk as being the virus, which has caused a slight uptick, however we need to see the facts on how dangerous it is before we can fully start to see capital flow into safe haven assets. So for now I would say wait and see on gold prices. I hope that answers the question for you 🙂
  19. Definitely agree with Jaglom above. If you are ever wondering about how much a trader can make each month in terms of percentage then I would suggest going and looking at some of the top hedge funds yearly performance and divide it by 12. That should give you an idea of what your own expectations should be (hint: a lot lower), especially as a newer trader.
  20. For that I think you have to look at the macros behind it, as the above reply suggests. If there are any supply issues from Saudi or even somewhere like Libya then we should see oil start to rally once more. Keep a watch on the Libya situation and if there are any potential production issues. Another thing to watch would be the US and Iran situation. Any further escalations there will for sure see oil rally. Thats my macro view anyway 🙂
  21. Djamel Brahimi


    The GBP rallied as for the last couple of weeks traders had been pricing in a 71% chance of a BoE rate cut. However, this was based on reported data from before the election. Since then we have seen post election data pick up and some positive news for the UK economy such as European banks opening offices in London. This has meant that the chance of a rate cut has fallen and now traders are maybe changing their mind on the potential for a rate cut. The UK manufacturing data coming out on Friday will be key in determining if this rally in the £ can continue.
  22. The CAD in general lost some value due to the interest rate statement from the Bank of Canada today. They kept rates the same but the statement was extremely dovish causing investors and traders to start pricing in a potential rate cut for the CAD in the near future. They noted that the middle east tensions could have a significant effect on the economy and Canadian data had indicated a slowdown in growth. The Dovish tone from the BoC is the reason for the CAD losing value and the USDCAD shooting higher.
  23. Djamel Brahimi


    Hi Ali... I'm no expert on options brokers. However, i do believe you can trade options on either IG markets (they are a good broker) and Saxo, although I have never used them before. I do believe if you search the AskTraders site you will be able to find more information on brokers that you can trade options under.
  24. They aren't miles away, but at the same time they aren't around the corner. CBDC's are in the process of being developed and some CB's have started trials, Sweden and China come to mind. The majority of central banks have been looking into creating their own cryptos with some further ahead than others. The one thing I would say though is that they won't be like bitcoin. I read an article from a newsletter called macrodesiac which explained that although they will use the same or similar technology, the central banks will still maintain control. Which means it won't really be like bitcoin or etherum etc. But yes they are being developed and yes some countries are trialling them, so they shouldn't be too far off.
  25. i believe I just answered this slightly in your last question. But, i'll expand a bit more. So due to the virus outbreak in China and now cases in the US and the UK (not sure if they are confirmed but it doesn't matter too much) we are seeing worry creeping into the market. But there are also other risks, data is showing that the global economy is slowing, and while I don't think that is enough to push us into a recession just yet, i think it is enough to start seeing safe haven flows for the time being. it's also important to note that gold (a safe haven) is used as an inflation hedge and with inflation rising we could start to see gold rise even more. So there are two or three factors that could see gold prices increase.
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