Current Market Sentiment | UK Manufacturing PMI

Jarratt Davis

Special Consultant to the FPA
Messages
1,495
Our trade call is to sell Cable on a Manufacturing PMI reading below 51. Both stop-loss and take-profit approximately equal the ADR of 140 pips, but both should be set above significant levels of support or resistance.

Current Market Sentiment:

The Asian session saw multiple high impact data points; Building Approvals from Australia missed estimates at -7.5% m/m vs -2.9% expected. The Aussie saw some downside post release, and the decline continued with both the Chinese government NBS release and the Markit/Caixin release for Manufacturing PMI missing estimates at 49 and 48 respectively. There was limited risk-off reaction to the miss as the market has now priced in a steady slowdown in Chinese manufacturing.

After declining 40 pips during the first half of the session, the Aussie then saw upside as the RBA statement failed to strike any new dovish tone and largely reiterated the prior statement. The Aussie rallied 50 pips post-release, also helped by gradual moves higher in WTI and Asia-Pacific indices marginally in the green.

Ahead we have the Purchasing Managers’ Index for the UK’s Manufacturing sector.

This release was also covered in the weekly risk events video. You can watch it here.

P.S. - If you want to learn more about how I trade, check out the link below

Jarratt Davis - Free Forex Course
 

1wildhorse

Private, 1st Class
Messages
434
Our trade call is to sell Cable on a Manufacturing PMI reading below 51. Both stop-loss and take-profit approximately equal the ADR of 140 pips, but both should be set above significant levels of support or resistance.

Current Market Sentiment:

The Asian session saw multiple high impact data points; Building Approvals from Australia missed estimates at -7.5% m/m vs -2.9% expected. The Aussie saw some downside post release, and the decline continued with both the Chinese government NBS release and the Markit/Caixin release for Manufacturing PMI missing estimates at 49 and 48 respectively. There was limited risk-off reaction to the miss as the market has now priced in a steady slowdown in Chinese manufacturing.

After declining 40 pips during the first half of the session, the Aussie then saw upside as the RBA statement failed to strike any new dovish tone and largely reiterated the prior statement. The Aussie rallied 50 pips post-release, also helped by gradual moves higher in WTI and Asia-Pacific indices marginally in the green.

Ahead we have the Purchasing Managers’ Index for the UK’s Manufacturing sector.

This release was also covered in the weekly risk events video. You can watch it here.

P.S. - If you want to learn more about how I trade, check out the link below

Jarratt Davis - Free Forex Course
ok i signed up for your videos and within 2 days your trade for the week has gone totally tits up-you suggested selling GBP against the USD but this week has been anything but.i was signed up for your service before when you said to sell the AUD and that did exactly the same.what the **** is going on?you are supposed to be trading guru,but your advice is **** as far as im concerned so far.all i have managed to do is be margin called on every fkkin account i have attempted to trade using your advice.
 

Jarratt Davis

Special Consultant to the FPA
Messages
1,495
ok i signed up for your videos and within 2 days your trade for the week has gone totally tits up-you suggested selling GBP against the USD but this week has been anything but.i was signed up for your service before when you said to sell the AUD and that did exactly the same.what the **** is going on?you are supposed to be trading guru,but your advice is **** as far as im concerned so far.all i have managed to do is be margin called on every fkkin account i have attempted to trade using your advice.
Hi, We do not expect to win every single trade. That is impossible. If you risk only 1% on each position then you should not have any problems with a single losing trade. We teach everyone that risk management is the most important aspect of trading so it appears you have not paid attention to this if you are getting a margin call.
 
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