Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on Youtube. Join thousands of traders who follow Ivan's insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.
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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.
We enter Tuesday with risk-off currencies (USD, JPY) trending down in the 4h and daily timeframes against either European, Oceanic currencies or even metals, both charging into fresh highs. Similarly, the US equities have too transitioned to bullish territory.
I’ve managed to identify 11 instruments out of the odd 30 I am monitoring on a daily basis with active buy-side campaigns. All these markets qualify to re-instate long exposure conditional to a fair price being delivered and an entry trigger given.
From what I am reading, the main news outlets are attributing the latest push in risk to renewed hopes of potential COVID-19 vaccines after both Oxford University and Pfizer-BioNTech announced promising early trial results, while the first signs of a compromise by EU leaders on the recovery fund also lifted up the mood.
As speculators in financial markets, we must respect fundamentals, but make sure these news don’t sway your technical-oriented opinion. Remain undeterred and unfazed by it, letting the raw price action, combined with components such as structures, momentum, volatility, symmetries to do their job in guiding you as part of a rigid process to call trends.
In the next 24h, as part of the economic calendar highlights to be aware of, it includes RBA Governor speech, the RBA minutes, both not thought to be major market movers, while in the North American session, we get the release of the Canadian retail sales data.
Also in the US, negotiations between Republicans and the US administration have resumed in order to make available yet another fiscal stimulus package in the “trillion dollar range”, according to with Trump’s chief of staff. Republicans are seeking to modify the enhanced unemployment benefits and implementing a payroll tax cut. A compromise around a new package would assist ‘risk on’ conditions.
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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.
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.
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.
This is the only trade that caught my attention during the Monday session. I know some members of our Discord room, such as Terry P, were keeping an eye on it, noting: “Just waiting on a EURJPY pullback on the 15min TF…” The right dose of patience and then letting price show you the way has so far paid off as the instrument found solid buying off the lows after regaining the 15m fractals level.
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.
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.
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.
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