The British pound has lost ground on Thursday. In the North American session, GBP/USD is trading at 1.2506, down 0.44% on the day. Earlier, the pound dropped as low as 1.2593, its lowest level since mid-May. UK retail sales expected to slip It’s a busy Friday in the UK, highlighted by the retail sales report. We’ll also get a look at consumer confidence and the services and manufacturing PMIs. The UK releases October retail sales on Friday and the markets are bracing for a downswing. The market estimate stands at 3.4% y/y, compared to 3.9% in September, the highest since Feb. 2022. Monthly, retail sales are expected to decline by 0.3%, following a 0.3% gain in September. The UK consumer remains in a sour mood, as the cost of living and high interest rates continue to squeeze households. The GfK consumer confidence index is expected to remain unchanged in November at -21. The UK manufacturing sector has been struggling. The October PMI was revised downwards to 49.9, which indicates stagnation. The PMI has decelerated for three straight months and the weak global demand will likely continue to weigh on manufacturing in the months ahead. The market estimate for November stands at 50.0. The services sector is in better shape and has shown 12 consecutive months of growth. The PMI has also eased for three straight months, raising concerns about the health of the economy. The market estimate for November is 52.0, unchanged from the October figure. The US will also publish manufacturing and services PMIs on Friday, with little change expected. The Manufacturing PMI is expected to rise from 45.5 to 45.8, and the Services PMI, which has been showing solid growth, from 55 to 55.2. GBP/USD Technical There is resistance at 1.2666 and 1.2702 GBP/USD pushed below support at 1.2618 and tested support at 1.2582 earlier

By Johann M Cherian and Purvi Agarwal (Reuters) – Wall Street’s main indexes were mixed in volatile trading on Thursday, with Alphabet (NASDAQ:)’s losses weighing on the benchmark and the Nasdaq, while the blue-chip Dow touched a one-week high, boosted by shares of cloud company Salesforce (NYSE:). Alphabet slid 6.2% to touch a more than three-week low after the Justice Department argued to a judge that Google must sell its Chrome browser and take other measures to end its monopoly on online search. The stock’s losses weighed on the communication services sector, which fell 2.6%, while nine of the 11 S&P 500 sectors traded higher. Megacaps also took a hit, with Meta (NASDAQ:) down 1.2% and Apple (NASDAQ:) flat. Amazon.com (NASDAQ:) lost 3% after a report said it will likely face an EU investigation next year into whether it favors its own brand products on its online marketplace. Shares of Wall Street’s biggest company, Nvidia (O:), were choppy and were last down 0.5%. The chip company surpassed expectations for quarterly results, and projected fourth-quarter revenue above estimates. However, some investors were unimpressed that the forecast was its slowest in seven quarters. “It has a lot to do with some disappointments in terms of Nvidia’s guidance on the margins, the story on Google doesn’t help (either) and that’s bringing down the entire technology complex,” said Dan Eye, chief investment officer at Fort Pitt Capital Group. The broader was up 1%. At 11:42 a.m. ET, the rose 372.11 points, or 0.86%, to 43,780.58, the S&P 500 gained 18.99 points, or 0.32%, to 5,936.10 and the lost 48.96 points, or 0.26%, to 18,917.19. Nvidia has led much of the U.S. market rally since mid-2023 on expectations that AI integration could boost corporate profits. The stock has risen more than nine-fold in the past two years and the company boasts a market value of $3.5 trillion. Gains on the blue-chip Dow were aided by Salesforce’s 4.5% advance after three brokerages lifted their price targets on the stock. On the data front, a weekly report on jobless claims showed they fell unexpectedly last week, suggesting a rebound in job growth in November. Money market bets tiled in favor of a 25 basis points interest rate cut by the Fed at its December meeting, according to the CME Group’s (NASDAQ:) FedWatch. Meanwhile, Richmond Fed President Tom Barkin said the United States is more vulnerable to inflationary shocks than in the past, according to a media report. Comments from Federal Reserve officials Austan Goolsbee and Vice Chair for Supervision Michael Barr are on tap. Traders also monitored geopolitical tensions between Ukraine and Russia, that sent crude prices higher and aided a 1.4% gain in the energy sector. Deere (NYSE:) shares gained 7.8% after reporting an upbeat fourth-quarter profit, while Snowflake (NYSE:) jumped 32% after raising its annual product revenue forecast. Crypto stocks were mixed as bitcoin prices came off session highs. MARA Holdings jumped 7.6%, while Coinbase Global (NASDAQ:) dropped 4.4%. Advancing issues outnumbered decliners by a 3.44-to-1 ratio on the NYSE and by a 1.88-to-1 ratio on the Nasdaq. The S&P 500 posted 52 new 52-week highs and four new lows, while the Nasdaq Composite recorded 102 new highs and 108 new lows. !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window, document,'script','https://connect.facebook.net/en_US/fbevents.js'); Source link The post Wall St indexes mixed as Alphabet weighs; Dow hits one-week high By Reuters first appeared on Forex Trader Hub.

Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee hit newswires on Thursday, commenting on the future pace of Fed rate cuts in the face of inflation that is ostensibly on its way to the Fed's 2% target.

This article was written by Greg Michalowski at www.forexlive.com.

Let’s get straight to the point: beating prop firms isn’t about luck—it’s about strategy, discipline, and having the guts to play the game smarter than they ever expect you to.I’m not just saying this from the perspective of a trader who has passed multiple challenges—I’ve also worked for a prop firm. I know exactly how they think, how they set up their rules, and what they rely on to profit from traders like you.I’ve been in the trenches, testing their systems, passing their evaluations, and perfecting the strategies that work. This isn’t another blog post with vague advice; this is the insider blueprint they don’t want you to know.The Truth About Prop FirmsLet’s be real: prop firms are businesses first and trading platforms second. Their rules—from profit targets to drawdown limits—are designed to make sure the majority fail. Why? Because every failed challenge is profit in their pocket.But here’s the kicker: their system isn’t unbeatable. In fact, once you understand how they think, you can turn the tables and beat them at their own game.Step 1: Flip the ScriptMost traders treat a prop firm challenge like a regular trading day. Big mistake. You’re not here to “trade well”; you’re here to pass.This means ditching the mindset of long-term growth and focusing entirely on the evaluation’s requirements:Hit the profit target quickly. The faster you pass, the less time there is for things to go wrong. Stay inside their rules. Understand their drawdown limits, position sizing, and other rules like your life depends on it. Never give them a reason to disqualify you.Step 2: Aggressive Strategy for the Win / How to Beat the Prop FirmsLet’s cut the fluff: in the evaluation phase, slow and steady won’t cut it. You need a bold, high-win-rate strategy.Here’s what works:Trade volatile markets. Instruments like Nasdaq (MNQ) or Gold (XAUUSD) move fast and can hit your targets with fewer trades. Follow the big players. Use tools like order flow, footprint charts, and delta shifts to identify where institutional money is moving—and trade with them. Go all-in—but wisely. Take calculated risks to stack up wins quickly. If you lose early, reset and start fresh. It’s better to fail fast than grind and fail later.Step 3: Control Your PsychologyHere’s the brutal truth: most traders fail challenges not because of bad strategies, but because of bad emotions.Treat every challenge like a sunk cost. If you fail, you haven’t lost—it’s part of the process. Focus on executing your plan, not chasing the profit target. When your process is right, the results follow. Never revenge trade. One emotional decision can wipe out days of hard work.Step 4: Build the BufferPassing the evaluation is just the first step. Once funded, your top priority is building a buffer. Think of this as “Phase 2” of the challenge.Trade conservatively. Use smaller position sizes until you’ve banked enough profit to cover the maximum drawdown limit. Scale carefully. Once you have a buffer, you can trade more aggressively without risking the account.The Prop Firm Killer ComboTo truly dominate the prop firm game, you need the right tools and education:Order Flow Mastery: If you’re not using order flow, you’re trading blind. Learn to read market intentions and follow the big money. Indices Expertise: Instruments like Nasdaq and Dow Jones are where the big moves happen. Knowing how to trade them is a massive edge. A Proven Strategy: Stop experimenting. Use a strategy designed specifically to pass prop firm challenges.Why I Know This Works / How to Beat the Prop FirmsI’ve passed multiple evaluations, tested countless strategies, and even worked behind the scenes at a prop firm. I know exactly where most traders fail—and how to ensure you don’t.This isn’t theory. This is the real deal, from someone who’s been on both sides of the game.So, are you ready to beat the prop firms and take what’s yours? Or are you going to stay stuck in the endless cycle of trying and failing?The choice is yours. Get focused, get aggressive, and let’s crush this game together.To your Success,SelinaPS: Want to beat the prop firms and uncover all the secrets? Join Element 88! Need to master order flow trading first? Start with The Whale Order!Join usJoining our community opens the door to a network of enthusiastic traders, all focused on mutual success. Our exclusive members-only Discord is your arena for exchanging ideas, dissecting market trends, and fostering collaborations. That can turn trading visions into reality.Don’t let another moment pass in hesitation. Embark on your journey to trading excellence today by enrolling in our courses. It’s time to transform your trading dreams into your reality.Join our courses and community today and take your skills to the next level!Elevate Your Trading with ATAS. So for those dedicated to mastering the art of trading. ATAS is more than a platform. It’s a partner in your journey towards trading excellence. Its blend of sophisticated analysis tools, customizable features, and supportive community. This makes ATAS the recommended choice for traders aiming to leverage the full potential of the futures market.Looking for a Trusted Regulated Broker?TheForexScalper recommends you join ICMARKET which is regulated and the most trusted broker.They provide very tight raw spread account with fast execution and having multiples deposit and withdrawal options.Join IC MarketHet bericht How to Beat the Prop Firms: Insider Secrets From Someone Who Knows the Game. verscheen eerst op theforexscalpers.

Building on the success of its presence at the ITTF World Championships Finals in 2023, IC Markets Global will extend its sponsorship across key WTT events, including:  The Men’s & Women’s Finals in Fukuoka, Japan (Nov 20-24, 2024) ● The Star Contender in Doha, Qatar (Jan 8-11, 2025)  The ITTF World Championships in Doha (May 12-18, 2025)  World Table Tennis (WTT) achieved a remarkable milestone in 2023, reaching 1.7 billion unique global TV viewers across its events. This impressive coverage reflects WTT’s growing influence and provides an exceptional platform for IC Markets Global to connect with a global audience.  “Our partnership with World Table Tennis reflects our shared commitment to speed, precision, and excellence,” said a spokesperson for IC Markets Global. “Just as table tennis requires agility and sharp decision-making, these principles define our trading platform, empowering clients to navigate markets with confidence. We are thrilled to support WTT and look forward to an exciting season ahead.”  IC Markets Global brings this same focus on performance and innovation to its extensive range of markets, catering to traders of all experience levels. From Forex, Bonds, Stocks, and Commodity to Indices and Cryptocurrency CFDs, the platform ensures clients have access to the tools and markets they need to stay ahead in today’s dynamic financial landscape.  Record-Breaking Trading Volume  In Q3 2024, IC Markets Global achieved an average traded volume exceeding $1.3 trillion per month, a testament to the growing trust and demand from traders worldwide. This milestone further solidifies IC Markets Global’s position as the preferred platform for both retail and institutional clients, reflecting its unwavering dedication to excellence and client satisfaction.  As IC Markets Global and WTT prepare for an exciting 2024-2025 season, this partnership is set to elevate both brands on the global stage, celebrating shared values of speed, precision, and excellence.  Trading derivatives involves high risk to your capital. The post IC Markets Global and World Table Tennis (WTT) Renew Partnership appeared first on LeapRate.

Get the 7 Step Checklist Johnathon Fox Uses to Find Every High Probability Price Action Trade Sponge may rise to $0.000330 level SPONGE Price Analysis – 21 November The price will rise to $0.000330 and $0.000402 if the resistance level at $0.000196 is breached. Sponge may drop to the $0.000087 and $0.000004 support levels if the $0.000196 level holds and the $0.000136 level allows. SPONGEUSDT Market Key Levels: Resistance levels: $0.000196, […] This post Sponge Price: Strong Bullish Candle Emerges Towards $0.000196 Level appeared first on ForexSchoolOnline.com.

Array Shift Scalper – High-Profit Plug-and-Play Forex Reversal Software The Array Shift Scalper is marketed as a revolutionary tool for forex traders, boasting simplicity, functionality, and versatility. Designed for both beginners and seasoned professionals, this tool promises accurate buy and sell signals using advanced mathematical algorithms. In this review, we’ll take a closer look at

WTI crude oil is consolidating inside a descending triangle pattern on its 4-hour chart, and price is currently testing resistance. Is it about to bust higher from here?

Wall Street indexes are experiencing volatility due to geopolitical tensions and anticipation of Nvidia’s Q3 earnings report. The release of Nvidia’s Blackwell chip is a major highlight, with potential implications for the AI and computing sectors. The performance of Nvidia’s stock could significantly impact the broader market, including the S&P 500 and Nasdaq indexes. Most Read: GBP/USD, GBP/JPY Price Action Ideas Post UK Inflation Release The major Wall Street indexes have struggled today thanks to a rise in geopolitical tensions between Russia and Ukraine and the Nvidia earnings release. The S&P 500 and Nasdaq 100 are trading down 0.64% and 0.93% respectively. Wall Street’s “fear gauge” .VIX jumped to 18.79 before easing slightly, but it was still trading at its highest since the Nov. 5 U.S. presidential election. NVIDIA Earnings Preview: What to Expect Nvidia earnings will be released in a short while and remains a key event with some analysts referring to the release as the most important economic event of the quarter. Markets remain concerned about lofty AI valuations despite positive earnings releases from the rest of the ‘magnificent 7’. Investors are cautious about NVIDIA’s Q3 2024 earnings despite the company’s strong recent performance. Analysts think NVIDIA will earn between $33 billion and $34.3 billion, which is about 81% to 82% more than last year. They also expect earnings per share to be between $0.75 and $0.79, up 85% from the previous year. Source: CarbonFinance (click to enlarge) A major highlight this quarter is NVIDIA’s new Blackwell chip. Wall Street is paying a lot of attention to it, seeing it as a big deal for artificial intelligence and computing. This chip might help NVIDIA grow even more and keep its lead in the market. Along with this market participants will be keeping a close eye on inventory levels as the tug of war between supply and demand remains key moving forward. As seen with other magnificent 7 stocks, forward guidance will prove just as important, with any sign of a potential slowdown being expected or concerns around the impact of a trade war and markets could be spooked which could negatively affect NVIDIA and by extension both the S&P 500 and Nasdaq 100.  The broader impact of NVIDIA earnings should not be understated given the performance after the last 3 earnings reports. In February, the stock gained +43%, June 46% with a -21% being recorded in August. This has also led to wild swings for the SPX and Nasdaq as well.  Investors are watching closely to see if NVIDIA can do better than what analysts expect and keep growing and innovating. Positive or negative the results are likely to have a massive impact on Wall Street Indexes.  Technical Analysis  Nasdaq 100 The Nasdaq 100 has struggled following the initial Trump election rally which propelled the index beyond the 21000 handle. Despite the 700+ point selloff since the post election high, the overall bullish trend remains intact. On the daily chart below, only a daily candle close below the swing low just below the 20000 handle would lead to a change in structure. Until then the bullish trend remains in play with the long term descending tredline also resting lower down close to the 19800 handle. We also have the 100-day MA which rests around the 19786 handle and could come into play as well should we get an extended selloff. Looking at the upside and immediate resistance rests at 20790 before the 21000 comes into focus. Beyond that we have the recent highs at 21250 which provide the next hurdle. Immediate resistance rests at 20484 before the all-time highs around 20790 come into focus.  Nasdaq 100 Daily Chart, November 20, 2024 Source: TradingView (click to enlarge)  Support 20000 19786 19123 Resistance 20790 21250 (all-time highs) 21500 Follow Zain on Twitter/X for Additional Market News and Insights @zvawda

USDJPY is up for the third straight week as the US yield curve is rising across the board and attracting traders to the dollar. Should we expect the rally to continue? Read in our latest Elliott Wave update. To access this article you need to have an active subscription The post Elliott Wave Update of USDJPY – November 20th, 2024 appeared first on EWM Interactive.

Live: What to do next? Check out my trading ideas after the US elections.

RBI communicated putting off initial margin rules one day before planned November 8 implementation

Simple Gold Trading Strategy – XAUUSD Trading Secrets The precious metal gold has always been perceived as a safe haven in times of trouble. Our simple gold trading strategy will help you to buy gold and sell gold at the same time. Our proven gold trading approach uses a combination of Fibonacci retracements and seasonality […]

EURUSD Analysis Today Check other video analysis here on Youtube Channel I am collecting ideas which currency pairs would you like to see analyzed? Let me know by filling the form. Click the button and give me your idea. Your Answer Entry EURUSD: If you want to see how to play this scenario join G-Trader If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis The Forex market is not easily predictable and we need to prepare ourselves for a bullish or bearish scenario. Risk management is crucial in Forex trading so play safe and set stop loss. The post EURUSD | GBPUSD | XAUUSD | US30 | NAS100 | USDJPY | XPDUSD | XPTUSD Analysis Today 19.10.2024 – Week Ahead Forecast appeared first on Get Know Trading.

Most people find Forex trading quite overwhelming in the beginning because it can feel a bit much when you’re starting out and all you see is advance analysis and jargon that has you rushing to Google to get to get to the meaning of every sentence. If you find yourself stuck in this situation as well, this blog might prove to be useful. Listed below are three incredibly helpful strategies that are not only very useful but are beginner friendly as well. Take a look. Trend Trading Trend trading is one of the most popular and well-acclaimed strategy in which traders keep an eye out for clear upward or downward trends. These trends are identified using tools such as moving averages, volume, momentum, and RSI. These are all incredibly useful market indicators and tools that will help you tremendously if you can get the hang of them. In trend trading ideally you should get in on a trade when the trend is beginning to form and ride the wave, but that is not always possible. Even if you cannot get that maximum potential profit out of it, you can still have a successful trade. Just know that trends don’t go on forever, so if the charts are showing that a reversal is imminent, get out while you are still profitable. Some noise is inevitable so in the beginning there will be times when anxiety about your trade might make you leave it prematurely but I still say better safe than sorry. With time, you will be able to distinguish noise from reversals more clearly. Range Trading Range trading relies on trading pairs and commodities that are stable and which move between established support and resistance levels. It is another very popular trading strategy. There are definitely times when a currency will not abide to a range but usually if it has hit a support and resistance level at least two to three times, the range is considered to be set and the levels well-established. This is a safe way to catch a few pips from securities that don’t fluctuate too much and show too much volatility. Breakout Trading Breakout trading is the opposite of range trading in the sense that here you are relying on a security breaking out of the range or the established support and resistance levels to enter a trade. When price breaks through an established resistance level, it indicates a bullish trend, and when it breaks through an established support level, it indicates a bearish trend. These breakouts indicate volatility. Not every breakout means a trend is about to form, but it means that either a new level is being tested or there is going to be a lot of momentum in that direction so some traders advise getting in on the trade as soon as there is a breakout. Others suggest that you wait and see where the market is headed before risking any amount for that trade. Before you try out any of these strategies, make sure that you have done some more research and study into these and know what you are doing. You can test them out with a demo account first to get a sense of what they can offer. The post 3 Simple & Effective Forex Trading Strategies for Beginners appeared first on Signal Skyline.