Hi, I am back from my 5-week break and travels. Thanks so much to Ashley for looking after you guys. He is trading now at a higher level as well as teaching and helping folks in the forum.
As you know Ashley quit his job in the summer. As a result, he is now able to focus 100% on his trading and his results reflect that. He has posted his detailed analysis for the week ahead. He has some decent setups in cross pairs that I don’t trade so make sure to check it out:
My wife and I, like most folks, didn’t get many opportunities to travel during covid, so it was nice to get away. One thing I had forgotten about when trying to trade and travel is to stay in one place for more than a few days at a time and I also didn’t keep up with the news as much as usual. As a result my focus suffered and so did my results.
We traveled around parts of Northern Italy for 3 weeks, which is beautiful but inflation has skyrocketed a lot of prices- except pizza and pasta. After 3 weeks the waistline was beginning to bulge so then we went to Malta for the first time, for a week. Finally, we went for some sun on our old home island of Lanzarote and I spent the first week in bed 🙁
One of the movies that I watched during my extended “lie in” was Blazing saddles.
It would not be made nowadays as its so politically incorrect.
The woke brigade would be choking on their humus, BUT it was frigging hilarious!
If you are easily offended then do not watch it.
Markets
I explain in the video that I am expecting the stock markets to rally until Christmas.* As a result, the $ should continue to weaken, its started already, though teasingly the $ index is sat on the 200ema at the moment. As a result, I am going to wait until Tuesday morning before I will trade this week.
Thanksgiving on Friday means there was little action and its anybody’s guess as to what will happen on Monday.
*The fund managers and traders are dependent on the end-of-year position for their performance bonuses. They are going to do whatever it takes to try to drive stocks higher. So expect lots of positive news and “happy days are here again” then wait for the crash in the New Year when the rookie retail investors and traders could well lose their shirts.
Forex
I will update you in Tuesday’s live session as to my plans for the run-up to Christmas.
I am especially interested in the following pairs:
The Chf, some Chf crosses, especially the Gbp/Chf again
the NZD, the Cad and the Aud/Yen.
At the moment I just show “areas of interest” I hope to see a clearer picture on Tuesday
As always, remember correlation!
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One of the movies that I watched during my extended “lie in” was Blazing saddles.
