Cracked the Code: 7 Steps to 5 Figures/Month

GM. This is Currencies & Coffee, where we turn market whispers into shoutouts just for you.

Here’s what we have covered today:

☕U.S. GDP & NFP Unveiled – Global Inflation's Next Move?

☕7 Steps to Unlocking a 5-Figure/Month Side Hustle

☕GBP Strength vs. EUR & CAD

🗞️Movers & Shakers🗞️

Alright, coffee in hand, let's dive into the world of currencies and the events that shook and shaped them last week. And, of course, a sneak peek into what's brewing for the week ahead. 💱

The Week That Was:

➡️ Flash PMIs: These are report cards for different countries' manufacturing and service sectors. Last week, the grades weren't great for the U.S., Europe, the U.K., and Australia. This made investors a bit nervous.

➡️ Central Bank Chatter: The not-so-stellar report cards made people think twice about whether Australia's Reserve Bank (RBA) would increase interest rates. The same went for the Bank of England (BOE), as people also started to lower their expectations for rate hikes there.

➡️ US Dollar & Jerome Powell: The head of the U.S. Federal Reserve had a big speech planned, and everyone was on the edge of their seats. The not-so-great numbers from the report cards made people wonder if he'd still be pushing for higher interest rates.

➡️A Rough Day for Wall Street: On Thursday, Wall Street had a bit of a meltdown. The tech-heavy Nasdaq index dropped by over 2%, wiping out the gains it had made earlier in the week.

The Week Ahead (All times in GMT):

📅 Global Inflation Data (CPI): This is all about how much stuff costs compared to last year.

• Australia (Aug. 30, 1:30 a.m. GMT): People are expecting a 5.2% increase in prices compared to last year. If it's less, don't expect Australia's central bank to rush into raising interest rates.
• Germany and Spain (Aug. 30, 7:00 a.m. GMT) and Overall Eurozone (Aug. 31, 9:30 a.m. GMT): Germany and Spain are releasing their own numbers. Overall, the Eurozone is expected to see a decrease in the cost of living compared to last year.

📅 U.S. Economy Check (Aug. 30, 12:30 p.m. GMT): We're looking at how much the U.S. economy grew in the last three months with the release of the core PCE price index. The expectation is a 2.4% growth; any surprises could shake things up.

📅 Chinese Official PMIs (Aug. 31, 1:30 a.m. GMT): China is giving us a peek into how its factories and services are doing. If the numbers are lower than expected, it could mean China might take steps to boost its economy.

📅 U.S. NFP Report (Sept. 1, 12:30 pm GMT): This is a big one. It tells us how many new jobs were created in the U.S. last month. The expectation is 169,000 new jobs, and if the numbers are around this, the unemployment rate will likely stay the same.

7 Steps to Unlocking a 5-Figure/Month Side Hustle

I've been closely observing the influx of messages and queries from many of you. The curiosity around currency trading is palpable. "How do I dive in?" "What's the first step?" I understand the intrigue, and I'm here to guide you. Today, I'm laying out a beginner-friendly roadmap to help you navigate the intricate yet rewarding world of forex trading. Whether you're exploring a potential side hustle or just trying to understand the currency trading buzz, this guide has got you covered.

🚀 The Power of a Solid Strategy:
In the world of trading, a strong strategy is your North Star. It guides your decisions, ensuring you're not swayed by market noise or fleeting trends. Our approach is tailored for those who value their time and seek efficiency. By dedicating just 5 hours a week, you can focus on 1 to 3 prime opportunities, maximizing potential returns while enjoying other life pursuits. And for those who've heard whispers about our Forex Momentum Mastery Program, stay tuned; we have something hugely beneficial coming. It's your go-to tool to build your knowledge and skills to generate income and thrive in the forex market consistently using our simple 5-step framework.

🖥️ Your Digital Companion:
Equip yourself with TradingView, a platform that offers a clear and intuitive interface to visualize market movements. With its Pro subscription, you gain advanced features that can elevate your trading game. Sign up here and get $15.

🤝 Partnering with the Right Broker:
Your broker is your gateway to the vast world of currency trading. Choose a partner that aligns with your values and goals. Prioritize licensed brokers for a seamless experience. Need guidance? I'm here to help.

💰 Begin with Intent:
Start your trading journey with a modest amount, allowing you to learn the ropes while keeping risks in check.

📚 Dive Deep with Currencies & Coffee:
With Currencies & Coffee, you have a treasure trove of insights. From market analyses to expert discussions, we've got you covered. And don't miss out on the Forex Nexus Hub, a community where traders unite and grow together.

🧘‍♂️ Cultivate Patience:
In trading, patience is key. Recognize that sometimes the best move is to wait for prime opportunities.

📝 Reflect and Refine:
Maintain a journal to document your decisions, outcomes, and reflections, guiding your future strategies.

Action Steps:

1️⃣ Vision & Commitment: Define your goals. Commit to the journey.

2️⃣ Equip & Excel: Set up on TradingView. Seek the right broker.

3️⃣ Engage & Evolve: Immerse yourself in Currencies & Coffee. Connect with the Forex Nexus Hub community.

SIP, LAUGH, TRADE 😁

📈LATTE LINEUP📈

-GBPCAD-

HTF (12-HR): If we look at the 12-hour chart, we can observe that the price has made a new high and then retraced to test the previous resistance as support before moving higher. The price reacted at 70.50% Fib level, and we can see that there is buying pressure in the form of a two-candle bullish engulfing pattern from this area of confluence. This indicates that buyers are coming into the zone. Let's move on to the shorter time frame to pinpoint an entry point.

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LTF (1-HR): On the lower time frame, the HTF buying pressure has caused a change in the market structure. This shift is shown by a higher high, which suggests a reversal in the lower time frame trend. To take a long position, we must wait for the price to return and retest the 1-hour resistance as support, confirmed by bullish rejection or engulfing candles. I plan to place my stop loss below the lows and target the HTF high.