How to Improve as a Trader by Admitting when you are Wrong. | Summary and Q&A

TL;DR

Forex trader Dale Pinkert provides an update on a previous call for a bottom formation and spike in yields, discusses potential retracements in indexes, and suggests contrarian trading opportunities in Euro/Aussie and Euro/Pound pairs.

Key Insights

• 🎯 The ten-year yield target for the spike mentioned in the video is 235.
• ❓ Another turndown in yields is expected after a potential rally towards 255.
• 🌍 Contrarian trading opportunities exist in the Euro/Aussie pair, with potential improved data from China and a bottom formation, and in the Euro/Pound pair, based on Brexit concerns and the pound outperforming.
• ⌛ Timing in trading is crucial, and it's important to admit when one is wrong and to acknowledge when uncertainty exists.
• 💰 The dollar's performance this week is critical, and a breakout above 97.80 could have significant implications.
• 🌍 The Euro/Pound pair may be basing out and provide a contrary bet with scaling longs.
• ❓ Market progress on downside breakdowns should be considered, as it may indicate a potential reversal.

Transcript

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Questions & Answers

Q: What was the target for the ten-year yield spike mentioned in the video?

The target for the ten-year yield spike was 235, with a potential rally back towards 255 before another turndown.

Q: What contrarian trading opportunity does Pinkert suggest in the Euro/Aussie pair?

Pinkert suggests a potential contrarian trading opportunity in the Euro/Aussie pair, as the Aussie may underperform the Euro even if the dollar does better.

Q: What factors may contribute to a potential bottom formation in the Euro/Aussie pair?

Improved data from China, a higher yield in the Aussie, and the Euro being heavily shorted may contribute to a potential bottom formation in the Euro/Aussie pair.

Q: What contrarian trading opportunity does Pinkert suggest in the Euro/Pound pair?

Pinkert suggests scaling longs in the Euro/Pound pair from 86.40 downward, with a target of 85 and 84.5, based on potential problems with Brexit and the pound outperforming in a bull move.

Summary & Key Takeaways

• Dale Pinkert updates a call for a bottom formation and spike in yields, with a target of 235 in the ten-year yield.

• He expects a rally back towards 255, potentially reaching the 260s, before another turndown in yields.

• Pinkert suggests a contrarian trading opportunity in the Euro/Aussie pair based on improved data from China and a potential bottom formation.