THE CSA5STEP SYSTEMS
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Our goal at CSA5steps is to provide a common sense approach to Futures, Forex, and Cryptocurrency trading. You will learn trading concepts that will show you exactly who and what really moves the market.
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Puerto Rico has had a power outage and an internet issue at the same time.
I will be following up on both, but it looks like we will have to cancel the Pre-New York and T2 Traderoom sessions
If we have internet by 8:30 we will do the US CPI trade
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GJ\50 on a 20 pip move, trade picked by student in London Session
GU/105 on a 30 pip move, trade picked by student in the New York session
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GA\ 32x68 -39 D-4
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NU/30 on a 15 pip move, this trade idea suggested by a student in the NY session
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EU\15 on a 10 pip move, almost stopped us out
AU\15 on a 10 oip move
Forwarded from Financial Markets News
USD/JPY nudges closer towards intervention trigger
https://forexlive.com/news/usdjpy-nudges-closer-towards-intervention-trigger-20221019/

If anyone is keeping count, the pair is coming into trading today on the back of ten consecutive days of gains. Some of which have been light but it reflects the sort of caution in the advance in fear of triggering another round of intervention by Japanese authorities.Still, as the fundamental backdrop remains unchanged, traders are continuing to push the yen lower in the past two weeks. From last month:"I would be remiss not to question the effectiveness of such a move (intervention). There is no doubt that this is a big moment in financial markets but it comes at a rather bad time honestly for Japan. Let's take stock of the situation."For one, officials are only intervening after a 26% drop in the currency this year. Meanwhile, the BOJ remains at odds with the Fed in terms of monetary policy - in fact they couldn't be at more opposite ends of the spectrum. That fact alone is enough to also make the yen less alluring as a safe haven currency as compared to the dollar amid widening rate differentials."And unless this is Japan signalling that they are ready to put a stop to the policy divergence, then officials are still fighting an uphill battle in terms of intervention. And that isn't really ideal."In essence, nothing much has changed apart from the 145 level back then turning to be the 150 level at the moment. Will Japanese authorities try to hit back harder this time around?And if they do, what happens when the markets lap it all up and push USD/JPY even higher again? Will they still try to fight the good fight or figure out a different approach? A BOJ pivot perhaps, anyone?

This article was written by Justin Low at forexlive.com.
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Forwarded from Coreys Digs
If you are able to help the daughter (Kellie) of a true patriot (Yig) who recently passed away, we would all be incredibly grateful. Kellie is trying to have a service for her mom and needs assistance quickly, as this happened so suddenly.

Thank you from the bottom of my heart. Yig was a dear friend of mine. 🙏🏼

https://www.gofundme.com/f/memorializing-kim-yig-wilson
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Forwarded from Financial Markets News
Japan PM Kishida: We cannot tolerate excessive FX moves based on speculation
https://forexlive.com/news/japan-pm-kishida-we-cannot-tolerate-excessive-fx-moves-based-on-speculation-20221024/

Government will take appropriate action against excessive FX volatilityThere is little doubt that they stepped into the market late last week and also earlier today in Asia Pacific trading. That said, don't expect them to confirm nor deny such intervention considering how ineffective it has been made to look. The low for USD/JPY hit 145.48 earlier but the pair is now trading back up to near 149.00 currently.

This article was written by Justin Low at forexlive.com.