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.
The message by the Fed via its policy statement and in the press conference by Chairman Powell sounded dovish enough to keep the status quo of a weaker US Dollar and be a catalyst to pump equities. The FOMC is now behind us, and as technically-oriented traders, while always respecting an event of this caliber that injects volatility, our job is to trade what’s in front of us via price action, keep that in mind.
A comment made in Global Prime’s YouTube sums up perfectly what I promote daily. Jonathan Amos writes: “One of the most important things to learn from following Ivan’s daily analysis is how he puts world events and news in the secondary position and focuses on what is happening statistically as the primary concern for decision making, taking emotional or exogenous factors out of our daily trading strategies.”
What this translates into is basically that heading into the FOMC you want to be mindful that since vol is going to see a spike, your job as a trader, depending on factors like the size of your stop, expected duration of the trade, etc. is to protect your risk accordingly. By trading intraday to capture swing-trading positions, knowing we use relatively tight stops, it’s important that you apply this important rule to be safe.
Shifting gears now to the Watch list for this Thursday. I’ve identified a total of 18 markets with active trends to potentially capitalize on (be dynamic as these market may change on the go based on the price action though the 4h chart). This is probably a new record high in the number of chosen markets with conditions conducive enough to support a specific bias. It also comes to show that this current market environment is in its Goldilocks state to find swing trades. Proof of that has been the consistency in which I’ve been sharing 3:1 risk reward trades, and today is no exception (check chart below).
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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.
I was really glad to see members of our Discord community picking up on the concepts I am teaching and able to find opportunistic moments to exploit existing trends in the market place. This chart below speaks loud and clear on the benefits of engaging at a discounting region in line with the dominant trend. Momentum is a beautiful thing, it’s that magic inertia or motion of a moving object, in this case candles, measured as a product of its mass and velocity. As long as we engage with this momentum in the higher timeframes, it will keep us in the right side of the flows more often than not.
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