U.S. Cash Open For Monday October 9, 2017
Shain Vernier • 1 min read
Monday’s are often a bit on the slow side exhibiting limited participation. From an active trader’s standpoint, it can be a challenge to stay patient. There will be many opportunities for the week, so taking marginal trades on a Monday is simply not necessary.
One good thing about slow markets is that they give us time to craft strategies and evaluate where we are as traders. A useful tool in this process is the trading journal. Journals can provide valuable insights into how to improve performance and bolster future profitability.
Start The Week Off On The Right Foot!
U.S. Cash Open
It is a rarity, but there are no economic news events out for this morning’s U.S. cash open. Equities have opened largely muted, with the DJIA and S&P 500 down moderately.
The USD looks to be in a holding pattern, with rangebound intraday patterns in the AUD/USD, EUR/USD and USD/JPY. These markets will undoubtedly open up as we move forward into the trading week.
The debate over the Trump tax plan is gaining steam, so any related news items coming out of Washington may potentially impact the markets. Having an appropriate strategy in place to deal with unexpected media events will be key as the end of 2017 draws near.
Bottom Line: Tight markets are challenging to trade. However, we do have a few live signals standing ready to engage the USOIL and BTC markets. Be sure to stay tuned to FX Leaders for analysis and trade ideas covering a wide range of asset classes.
As always, trade smart and watch the risk management!