Scan Of The Markets
It’s all about the broad-based USD weakness as the currency resumes its underlying bearish trend. The selling of the USD was also spurred by the ongoing rise in US stocks where the S&P 500, after the 34% COVID19-led decline, made a new all-time high.
Among the basket of the 8 currencies monitored, the fortitude of the Sterling is what stands outs as well as the ongoing outperformance of Gold and Silver as the Go-To investment vehicles at a time of loss trust in the US Dollar. The rejuvenation of the Kiwi, finally putting an end to its eye-popping losing streak, is worth noting too.
As I illustrate below as part of the Watchlist where I select the markets in trending mode, it is dominated by the USD as the currency to seek out short exposure. The structures and the momentum tell us a clear picture that it is the world’s reserve currency the one we want to be stalking on an intraday basis to find swing opportunities.
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: 00:14:58
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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