Magnificent Person,
Last week was a wild ride in the markets, and I wanted to give you an update on what happened.
Today I spoke with Mani Mohseni, a trading expert and friend, about his experience during the week.
Mani shared that although it was the hardest week of his life, he was still able to make profits.
He experienced a loss in GBPUSD short, but gained profits in USDJPY short.
He made a great point that we must be able to change our mind based on data, which is something I completely agree with.
However, the Fed's recent actions caused some confusion in the market.
After Powell's testimony, Mani was targeting 108.00 in DXY, and everything showed a 50bps rate hike is necessary in the March meeting.
But then, the NFP came in better than expected, and the Fed announced they were ready to cut rates by the year-end due to bank crises.
The bank crisis caused a plunge in bank stocks, which led to more confusion in the market.
According to Mani, if Tuesday's CPI comes in hotter than expected, we should not trade for at least a week.
However, he suggests that whenever something goes wrong in the economy, we should sell the DXY.
It's a tough year for the markets, but we need to stay informed and stay alert.
As always, we'll keep you updated as things progress.
Best regards,
Casey Stubbs
Founder of Trading Strategy Guides
To Your Trading Success.
P.S. If you want to get advance info on how we are trading the markets next week you will want to check out the swing trading report.
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