Scan Of The Markets
It’s not been an overly exciting start of the week yet the USD appears to again be on the back-foot, which is good news for swing trading opportunities as it has led to a permute by which some of the lost trends in USD-centric instruments are now retrieved.
The NZD, despite gaining fortitude, is still perceived as a potential sell on strength given the protracted bearish run that has been dominating proceedings for a while now. The push higher in Gold or the tech-heavy Nasdaq index are some of the highlights too.
Despite the increase in trending markets, we are definitely going through a more patchy state after a reduction to the tune of 70 to 75% in the number of trending markets compared to mid last week (we had 20+). Remember to remain patient and let the market come to a region of a discount before committing new exposure.
As part of today’s report, I also highlight a running long position that remains on track to hit the 3:1 risk-reward in the EUR/USD. This trades comes to proof that there is always going to be a trade available around the corner, hence don’t sweat it out, stay firm and committed to the approach, keep hustling and rewards will follow.
Trending Markets On My Radar
In this section, I short-list the markets that meet the criteria or are about, in order to engage on a directional trend off higher timeframes through a 15m chart entry.
Hot Trade Of The Day
To see an expanded version, right-click and select ‘open link in new tab‘. In this section, I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook.
Insights Into Market Studies
In this video analysis, I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.
Video Length: 00:12:44
Recent Economic Indicators & Events Ahead
(Click on image to enlarge)
Source: Forexfactory
Important Footnotes
MARKET STRUCTURES
Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to this video. Fractal breakouts is at the epicenter to assist us in the analysis of chart structures.
MARKET MOMENTUM
In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video, I lay out the elements I look into to call trend directions.
PROJECTION TARGETS
The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection.
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