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Trading news
17 Mar 2020
Coronavirus: Choosing a new market direction
What a trader wants is the right side of a new trend. It is not necessary to pick the turning point, Joseph Trevisani, an analyst at FXStreet, advises.
Key quotes
“If the Chinese economy recovers quickly then there will be no reason to assume the West, Japan and Korea will not do the same.”
“That could be the beginning of a new trend. But markets in the US and Europe will not likely act on that until there is evidence their own outbreaks are submitting to control.”
“If you can provide a logical structure for the change in trend and if there is evidence, even if very preliminary, then you are not picking tops and bottoms but choosing a new market direction.”