U.S. crude oil prices

U.S. crude oil prices rose on Friday on the prospect of better relations between the U.S. and China.  September futures (/CL) rose 0.7% to $65.91.  Light sweet crude has been weighed down by signs of weaker demand, the Turkish currency crisis, and a stronger dollar, which helped oil futures drop 2.5% on the week.  After setting a new 52 week low on Thursday, Gold (/GC) has found some footing over the past two days and is currently trading near $1194 per troy ounce.

Starbucks (SBUX)–

Creamed!– The popular coffee retailer announced its longer-term strategy yesterday which includes the closing of 150 company-operated stores. The alarming trend hints that growth may be topping despite trying to enter new markets like China. Same store sales are expected to dip by 1% in the current quarter as the recent negative publicity may be taking its toll. On a bright note, the company will hike its dividend by 20% to $0.36 a share. SBUX shares took a 3% hit after-hours to slip into the red for 2018. 

Changing your trading style

In fast moving markets this will happen especially if news has broke that influenced the direction of the market.  Stock and forex trading is risky so the losses you take should be small if you stick with a solid trading plan and know where to set stop losses. Changing your trading style from hitting the buy button and sell button and moving in and out of positions will lose you money in the long run. You need to look at your position and adjust your buy and exit strategies accordingly. As a trader, you are not guessing on where the trade might be going whether it is a long or short trade, so you are not taking a risk it is not gambling it is a well thought out trade.

 A profitable forex or stock trader mental attitude is most important. They have to have a positive outlook on all their trades. This will make you a successful and profitable trader. One of the important parts of not having to many losing trade is the technical analysis and reading your charts correctly. Experienced traders and investors in the markets must use technical analysis as part of their trading program.

LONDON OPEN TRADE STRATEGY

The Forexmentor Live! interactive training in trading Forex includes unlimited access to the live trading classroom, detailed tutorial videos used in trading client accounts, a step-by-step guide to the LPT Method, technical analysis, detailed presentations throughout the day, live Trade Alerts, access to Professional Fund Managers, access to live news feeds in real time and so much more. The London Open Trade StrategyLONDON OPEN TRADE STRATEGY (LOTS) is a 100%, rules-based Forex trading setup strategy created by Darko Ali and Vic Noble to help Forex traders locate and enter trades in a pre-defined way. This unique yet simple trading system offers 100% objectivity in how a trade is validated, with rules for entry and stops, and strict guidelines for trade management, all resulting in trades with high accuracy and favorable risk-to-reward.

USD/CAD

USD/CAD showed little movement in the Asian session. The pair recorded slight gains but then retracted in European trade

• 1.2757 is providing support
• 1.2850 was tested earlier in resistance. It is a weak line
• Current range: 1.2757 to 1.2850

Further levels in both directions:

• Below: 1.2757, 1.2687 and 1.2590
• Above: 1.2850, 1.2943, 1.3015 and 1.3125
• 
  USD/CAD ratio is showing little movement in the Thursday session. Currently, short positions have a majority (53%), indicative of slight trader bias towards USD/CAD takes next.