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Hurricane IRMA, Bitcoin and the Week Ahead

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Here’s what we are talking about at the Price Action Traders Institute this week

After our vacation: The 1st week in September: 

Our 1st week back from a week long trading break was very profitable for many PATI traders!  The  NY session provided several good opportunities(criteria) for us along with the most important aspect of all profitable trading:  we had solid FT (follow through).

Like I say in every planning session: in order to make money trading with a valid setup/criteria we need the market to follow through.

Bitcoin/Blockchain technology:

Many of us have heard about the “cryptocurrencies” during the past few years, in particular Bitcoin. I personally have been a tad bit skeptical when it came to Bitcoin.  Call me old fashioned…or more aptly, highly risk averse.

However, a couple of months ago I started taking a more serious look at the platform underneath the cryptos called blockchain technology.  I have been quietly building up my knowledge and connections with companies that are investing in blockchain technologies.

I believe this technology could be a new frontier that will provide investors with a once in a lifetime opportunity to build some incredible wealth.  I have not been this excited about the potential that may exist, since I was part of a company we took public back in 2001!

Stay tuned for more on this topic.

Hurricane Irma: 

A force to be reckoned with this week, right on the heels of Hurricane Harvey has made landfall in Florida today .  Irma is expected to have a devastating impact on the people of Florida and their economy.

How these hurricanes affect the oil industry/ the insurance/ commodity markets remains to be seen.

These natural disasters will impact US unemployment numbers and financial help will need to be provided to those who may lose everything.  Tax reform? Maybe not so fast.

Next Week in the Forex Market:

Red News Announcements:  

This week the London session will be in focus as the UK releases the Official Bank Rate + Monetary Policy, GDP, Retail Sales and CPI.  Also of importance will be on Thursday when the SNB reports the Libor Rate and Monetary Policy Assessment.

On Thursday and Friday the US will release CPI and Retail Sales respectively.

Please keep in mind, red news events move the market when there is an unexpected number reported vs the forecast number. When there is a substantial deviance between the actual number and the expectation, we can expect to see volatility and quite possibly follow through on the price action.

Wednesday Webinar: 

Our Wednesday training webinar this week is at 12 Noon PDT/ 3 PM EDT and I plan on continuing our traders psychology series. 

 I can’t wait to see what the markets give us to work with during the London and NY Sessions.

Join us today at the Price Action Traders Institute and get 10% off your 1st Month

Use coupon code: FOREXVIDEO

https://priceactiontradersinstitute.com/register/pati-full-membership/


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