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The markets are quite, not just because its August and many investors are on leave but also in anticipation to Jackson Hole meeting. So, why is this tiny place usually known for its winter ski complex, such an important economic event ?
Many of the world’s most powerful financial players and policymakers will gather for three days in Jackson Hole, a mountain resort in Wyoming. It goes back to 1978, when the first meeting of such kind was held and since then it offers a chance for central bankers, finance ministers and academics to talk about the world economy in a public but informal setting. The event is formally the Federal Reserve Bank of Kansas City’s “Economic Symposium”. All 12 of the Fed’s district banks organize research conferences. So how did Jackson Hole become Davos for central bankers?
The first one, on “World Agricultural Trade: The Potential for Growth”, took place in Kansas City, Missouri, where the bank is based. In 1982 the conference moved to Jackson Hole (which is in the Kansas City district) and persuaded Paul Volcker, then chairman of the Fed and an avid fly-fisherman, to attend. In a textbook case of network effects, Volcker’s regular attendance attracted oth…
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Sennna88 avatar
Sennna88 30 Aug.

thanks!

s_amira avatar
s_amira 31 Aug.

Good article!

TInna avatar
TInna 1 Sep.

good! very very!!!

amerfx86 avatar
amerfx86 2 Sep.

great story, well done

sonjatrader avatar

Great article Senna

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`One of the smartest things I have ever heard when we talk about trading and business in general goes "Fail to plan and you plan to fail". Of course having a plan doesn't automatically translates into success and profit. But even if you lose money, you can be at peace with yourself because you developed a plan and followed it. Of course, modifications and fine tuning of your trading plan will also help.
So, what is our plan ? I have defined a scalping strategy which consists of three basic elements:
1) Trend - The price has to be in a clear downtrend. Usually, the price breaks the support, clears stops and then reverses and tests the resistance i.e. previous support.
2) Hammer candlestick pattern - A bullish reversal pattern which consists of a long lower wick which is at least two times smaller than the body of the candle. The close should be at top of the candle.
3) Volume - The volume has to be higher than for the previous candle, which usually is a red candle. The bigger difference between volume in these two candles, the greater reversal will be.
Charts
EURUSD 5 min chart
GBPUSD 5 min chart
USDCAD 5 min chart
Trade management
Good charts will help you a lot and create a great…
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tdbatinkov avatar
tdbatinkov 24 Aug.

yes !!! this is powerful strategy ..

Sennna88 avatar
Sennna88 24 Aug.

thanks everyone!

Marenno avatar
Marenno 26 Aug.

Good

scramble avatar
scramble 28 Aug.

interesting setup, do you use it profitably? any result on last 2months?

tangell avatar
tangell 30 Aug.

занимательно замечательно

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