Notable Buying In North American Currencies
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Notable Buying In North American Currencies

Authored by Ivan Delgado

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.

Let’s get started…

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. 

There has been a major reset in the number of trending markets in the higher timeframes (4h and daily) as a result of the strength off its suppressed levels in the USD and the CAD. Stocks did well overnight with the tech heavy Nasdaq making fresh record highs.

The worst performing currency was the Swiss Franc, while the rest of the European FX (Euro and Pound) also showed a sluggish behavior. Despite the pump in stocks, the Oceanic currencies didn’t attract much buying interest, with the momentum undermined by the Victoria state lockdown in Australia one would think.

We’ve transitioned from just under 20 markets with concordant trends in the higher time scales to just 8 today and the list might keep shrinking as some are on the brink of transitioning either into a range in the 4h chart or develop a short-term trend reversals.

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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.

This selection is done after analyzing markets through key metrics (Fractals and SMT) in different timeframes (4h and daily). A video on the power of the SMT can be found here “How To Trade Forex Trends Like A Pro“. The video “Fractals + SMT: The Multi-timeframe Functionality” is also a Must-Watch to fully grasp this style of analysis. 


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. 

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Recent Economic Indicators & Events Ahead

Source: Forexfactory

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!

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