Let’s get started…
- Scan Of The Markets
- Eagle View Momentum & Structures
- Trending Markets On My Radar
- Hot Trade Of The Day
- Insights Into Market Studies (Video)
- Recent Economic Indicators
- Educational Material
Scan Of The Markets
To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket. A video on how to interpret these indices can be found in the Global Prime’s Research section.
Aside from the continuous perky behavior in metals, which continue to trade in a league of their own performance-wise, the Sterling was the top performer in the currency space, while the USD, no surprise here, keeps lagging behind as the US heads for the fiscal cliff with no agreement yet between Dems and Reps on the next stimulus package.
In the next 24h, trade will have to deal with headlines concerning the ongoing US fiscal stimulus negotiations (labeled ‘a mess’), alongside the FOMC announcement. As such, real money will be looking to adjust exposure accordingly. Key earnings reports from the tech sector on Thursday (Alphabet, Amazon, Apple and Facebook) is also a major event as it will influence the mood and volatility in the US equity space.
The above are the key fundamental components and narratives dominating the market this week, obviously all blended under the umbrella of COVID-19, which for a change appears to have taken a backseat as we await for these contentious issues (US stimulus, FOMC decision, earnings reports by tech giants) to clear up the picture.
Are we still in a conducive environment to swing trade some instruments in currencies, metals or equities? You bet we are. While I’ve altered ever so slightly the watch list for today, I still managed to qualify 15 markets in active buy/sell-side campaigns. Want to watch a deep dive, then head straight to my daily video analysis below.
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Eagle View Momentum & Structures
To see an expanded version, right-click and select ‘open link in new tab‘. The table shows key metrics (Fractals and SMT) in different timeframes (4h and daily) to assist us in selecting the best markets to trade intraday (link to the script). A video on the power of the SMT can be found here “How To Trade Forex Trends Like A Pro“. The video “Fractals + SMT Upgrade: The Multi-timeframe Functionality” is also a Must-Watch.
Trending Markets On My Radar
In this section, from the table above, and after scanning through the charts, I short-list the markets that meet the criteria or may soon do to engage on a directional trend off higher timeframes through a 15m timeframe entry. To get a deeper dive into the markets included in this section, watch my daily video analysis below.
Hot Trade Of The Day
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
If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!
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 the tutorial How To Read Market Structures In Forex. To simplify it all for readers, a transition to analyze structures via Fractal breakouts has been included in my analysis.
SMART MONEY TRACKER
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.
SUPPORT & RESISTANCE
Unlike levels of dynamic support or resistance or more subjective measurements such as fibonacci retracements, pivot points, trendlines, or other forms of reactive areas, horizontal areas of support and resistance are universal concepts used by the majority of market participants. It, therefore, makes the areas the most widely followed. The Ultimate Guide To Identify Areas Of High Interest.
It’s important to highlight that the daily market outlook provided in this report is subject to the impact of the fundamental news. Any unexpected news may cause the price to behave erratically in the short term. Monitor the event risks via Forexfactory.com & refer to Fundamentals vs Technicals In Forex.
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