Published: March 21, 2019 5:30 pm est
by Tom Kadale,
Contributor Market Analyst
NewsmovesMarketsForex
Mr. Kadala is an internationally recognized writer, speaker, and facilitator on topics related to FOREX trading. He is also the founder of RagingFX(r), a self-learning algorithm that generates FX signals for its online subscribers – RagingFX.com.
From the RagingFX Trading Desk… Tom Kadale, Forex Algorithm engineer RagingFx.com and Guest Contributor Market Analyst for NewsmovesmarketsForex
Earlier this week FX hung on the balance pending more Brexit news and US interest rate increases. Our algo sniffed a few optimal setups and delivered them to our subscribers. Here’s what happened behind the scenes… Today the EU extended a poisonous ‘carrot’ of sorts to members of the British Parliament…
“Vote for Theresa May’s unpopular Brexit agreement and the EU would approve an extension from the current March 29 deadline.” Odd as it sounds, the overall reaction was quite positive for the Euro and absolutely unnerving for Sterling.
What was even more surprising was how our algo interpreted the global angst into a winning setup for the EURUSD (see first line below). Normally our algo issues out signals with fixed Stop Loss and Take Profit levels.
However for the EURUSD trade issued yesterday morning, it left the Take Profit level open. It’s a rare event highlighting that an extreme situation is at hand, …such as the one we had pending today.
The Daily Dashboard Report below is the same one we send to our subscribers and anyone else that is on our distribution list. All trade sizes are the same, 1 lot. They are listed as such to make it easy to extrapolate and compare results.
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