Hi, I showed in the live session how I had once again last week I used a study of the stock markets, gold, indices and especially the $index to formulate my plan for the week.

I did exactly the same thing a few weeks ago. I did it once more on the CHF and it worked well for over a 100 pips. See this page for videos of last weeks trades. How I planned the entries. Managed the trades. Took some profits and then the final result.

This is a textbook example of, steps, 1 2 & 3 that I follow every week and share with you. Last week was fairly straight forwards and I know lots of you caught at least some of the trades and more of your own.

Here is the link to the post me sharing my trades gave around 200  pips

Managing winning trades

Here is how my student caught 180 pips from 2 trades which he shared in the live session.

180 pips from 2 trades

Before you get carried away and think “this is easy”- things just got a whole lot more complicated with Fridays very positive NFP, jobs & earnings data. Jobs were more than double the expected so many commentators, including on Twitter, say that this proves the US is not in a recession. I don’t buy into that at the moment.

There is much more negative news coming out on an almost daily basis and this “drip drip” is taking its toll. This week I am focusing initially more on technical analysis than fundamentals for possible forex setups, of which there are many.

I also spoke on Tuesday in the live session about my uneasiness with the US stocks that I had bought. I showed in the session how I had sold some of my blue chips, including Amazon +37%, Apple +20% & Ford + 30% & some Ethereum that I had traded + 60% (I am still HODLING a lot of ETH in my buy &hold portfolio).

These were all bought in the last couple of months. I shared them with you in previous live sessions.

Usually, with blue-chips it can years to see those kind of results. By Thursday I have sold the rest. Some have risen a little since and they could shoot much higher. However, in my opinion, the data doesn’t support increased valuations. I also suspect that this is a short squeeze, so I am happy to take the profit and run!

I may of course be wrong, but if I miss out I am happy to accept what the market gave me and wait it out.

Full disclosure, I still hold a substantial, varied crypto portfolio. It may take a year or more to come back and we could see bigger falls first, but they ar ebought and paid for as well as profits banked, so I am happy to sit it out.

I still have a few Zoom & Paypal shares- though I am thinking to sell these this coming week. Other steps I took earlier in the year was to convert my spare euros & GBP into USD. I then have 25% of my assets in gold, silver and some platinum. 15% in gold, silver and other metals mining stocks. Some in my personal forex account and the balance in cash.

All of these trades and purchases were pre-planned and shared with you in advance.

As were last weeks forex trades.

I said a couple of weeks ago that “I have done this for over 15 years and the in-house joke is that I am “spookily accurate”! The good thing is you can do this too. It’s not rocket science. I simply look for repeatable patterns that give clues as to where price will “probably” react again.

Does it work all the time? Of course not. Forex is supposedly random and impossible to predict. The advantage that we have is having found a big area we then only look to take trades that will give us a bare minimum of 1:2 risk reward ratio and often more. Once again this month I have made my month’s target from a handful of trades. Most were placed on a Sunday and very little work/screen time during the week.”

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You can also follow me on Twitter https://twitter.com/marcwalton

The Forex Week Ahead

I explain in the video that even yellow flag news can be important at the moment. Fx pairs rarely turn on a dime. More often than not it’s the aforementioned “drip-drip” of data that is the slower catalyst.

This week the BIG event is the CPI inflation news from the USA on Wednesday. I would advise you not to open any new trades and close open ones a few hours before at the latest as anything could happen around this time. It is the perfect opportunity for the BIG boys to make their money.

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MAJORS

As I mentioned in the title, everything is as clear as mud right now.

Yet, my fundamental bias is still $ strength versus all majors.

A lot will depend on how the London traders interpret NFP having had the weekend to dissect it more.

Also as we are now in summer markets it is quite normal for prices to range.

Remember I am looking for “A” grade trades from weekly & daily charts that I can place the orders and then just walk away.

EUR/USD: Bias is only to short, but it is miles away from my A grade short. Last week there was a 4 hour trade, see the video, not for me.

USD/CHF: Worked last week for 100+ pips  I will watch the $index once more for clues. I am looking to Long this pair at 0.95100 & 0.9470 (split the risk in half) as explained in the video.

GBP/USD: I only want to short. Not an A grade. Personally wouldn’t touch it, better opportunities elsewhere.

AUD/USD: 0.7000 is a big area for a potential short, but not enough reasons for the stop for it to be an A grade for me, but worth watching on the 4 hour.  0.7140 is stronger.

NZDUSD: Only looking to short at 0.6650/split 0.6690 but its a long way. Intraday you could watch 0.6300 for clues.

USD/CAD:  I am interested to long at 1.2560. If it drops lower then 1.2760 is the next area. If it does do a massive drop then 1.2560 is also an area to long for me.

CROSSES

EURCAD: A grade for me is miles away at 1.3740. Intraday I would watch 1.3370

EURNZD: Interesting on a Daily to short at 1.6470 and 1.6520

EUR/AUD: Worked last week for over 130 pips shorting at 1.4780

NZFCHF: 0.6270 is the major area. 0.6200 is also an area to watch.

GBPNZD: I have a forward order at 1.90250

AUDCAD: Short around 0.9090/split and other half at to 0.9120,

AUD/NZD: Worked last week for over 80 pips. One of my private students showed me it. I said in the live session that it was text book M2 and the “tip of the day” then I forgot to place the order after the session :

1.1020 is the area for me to long. If there is a major drop later than 1.0840 and 1.0810 for a long for me.

AUDCHF: short at 0.6750

GBP/CAD: 1.5900 is a B grade for me. 1.6740 is a long way off, A grade

As always, remember correlation!

We are NOT a “tipping service” our aim is to teach you how to trade for yourself.

Watch the video below for more detailed explanations of this week’s analysis and trade plan (click the 4 arrows bottom right to view full-screen):

Regards

Marc