The Prop Pulse 8-8-24

Dive into this week's market analysis to explore whether $CL1!/Oil and $USDJPY potentially turn bullish, and if cryptocurrencies have hit their bottom, in our comprehensive digest.

What's your big why in life? Have you taken a moment to really think about what gets you excited or what you'd love to do for others? Maybe take a walk in the park, sit quietly, write down your thoughts, or try something new.

When you look inside, you might find something special you want to do with your life. Maybe it's about helping people who need it or making a difference in a way that matters to you. What's that thing for you?

Think about how you can use what you're good at—trading—to make this happen. Picture it clearly. You could be helping someone get an education, supporting folks who've been where you are, or just making the world a bit better.

So, see trading not just as a way to make money, but as a way to fund your dream project.

Here's how you can make this dream come true:

1. Make a Plan: Decide how you'll trade to reach your goals, not just for money but for your cause.

2. Get Better: You're on the right track here. Keep learning:

   • Get some certificates if you can.

   • Read books, watch videos, learn from others.

   • Join groups where people talk about money and helping out

Balancing your life is crucial .

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Trying out new things that make you think differently can really help you grow and learn more about yourself. Do stuff that feels a bit scary or different. This can lead to big changes and help you discover new parts of who you are.

Most Volatile Trading Hours

The best times to trade forex are from 1am to 4am CST and from 7am to 12pm CST. These times are special because they catch when major markets like London and New York are open at the same time. When these big markets overlap, there's more action in the forex market, making it easier and often cheaper to trade.

Imagine it like this: When both the London and New York stock exchanges are open, it's like having two big shopping malls open at the same time. More people (traders) are shopping (trading), which means stores (currency pairs) have more deals and better prices.

For instance, during this overlap, if you're trading the Euro against the US Dollar (EUR/USD), you might find the difference between buying and selling prices (the spread) can be very tight, sometimes as low as 0.8 pips. This is like getting a discount because there's so much trading going on.

$SPX SPY 0.00%↑

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Bias: Value Area - Not worth opening trade here

52 Week Range: 4,103.78–5,669.67

Thoughts: The market just broke its upward trend last week and has now entered what's called a "fair value zone." This means the price is at a level where it's neither clearly overvalued nor undervalued, making it a bit of a toss-up for where it might go next. Right now, if you're not already in a trade, it might not be the best time to jump in. We're kind of in the middle of things, where the market could either continue to drop or just hang out here for a bit without much excitement. September isn't expected to bring a lot of movement, so if you're considering entering a trade, you might want to hold off until there's a clearer direction or a better opportunity presents itself.

Top 7 Major Pairs