What is an Indicator?
Indicators are statistics used to measure current conditions as well as to forecast financial or economic trends. Is very important to understand that indicators are just giving you an indication of price movement – before you hit the button to buy or sell – always do cross references with few indicators together with Fundamental approach.
What Is Economic Indicator?
An economic indicator is a piece of economic data, usually of macroeconomic scale, that is used by analysts to interpret current or future investment possibilities. These indicators also help to judge the overall health of an economy. Economic indicators can be anything the investor chooses, but specific pieces of data released by the government and non-profit organizations have become widely followed. Such indicators include but aren’t limited to:
- The consumer price index (CPI)
- Gross domestic product (GDP) – tomorrow UK will release their Data – will be good to see how our technical approach
- Unemployment figures
- Price of crude oil
OUR TECHNICAL CHART
OUR ASSUMPTION AND TRADING PLAN
We wait for price to move first before taking our trade – remember always calculate your risk/reward and ask yourself – IS IT WORTH TAKING THIS TRADE?
In this trade we are taking 8 steps approach and we have done our trading plan clearly before we take a trade – GBP still in a strong SELL approach, however if the “W” bearish chart pattern fails then – this will be clear reversal pair.
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High Risk Investment Warning:
Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.