Scan Of The Markets
If we were to think of the process I conduct on a daily basis to identify trending markets as a wave, you’ll be glad to know that we are right at the crest of it, in other words, we are near or at what usually is the maximum number of instruments simultaneously trending.
We’ve passed the 20 mark once again, meaning opportunities to join active buy side or sell side campaign in the Forex domain abound. After going through a trough last week when at one point barely 8 markets were still trending out of the combination of the 8 most heavily traded currencies, metals, and the S&P 500, it didn’t last long.
In today’s video, I dissect for everyone the merits that make each and every one of these markets selected qualify as a trending market. I’ve also added the hot trade of the day where the CAD takes the spotlight once again, this time against the GBP in what’s still trade with an unresolved outcome which as usual aims for a 3:1 RR.
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. To get a deeper dive into the markets included in this section, watch my daily video.
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. My video analysis below will further elaborate on the logic behind the trade.
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.
Recent Economic Indicators & Events Ahead
(Click on image to enlarge)
(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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