Hi guys,

I’ve been asked quite a lot recently about my opinion on the stock market and when I think it will either
a) drop further or
b) start climbing again.

This week I’ve gone through some stock charts and have tried to give my opinion on what levels I’m looking at and what I think is going on in the market in general. I still believe there are some Clues of reversals and possible bargains, even in this market……see video

*I am not a financial advisor in any jurisdiction. 

There isn’t a lot of red flag news this week, but be careful as the big news from last week could still play a part. I show you how some basic research can help you form an educated opinion fundamentally and in the long run make you a better trader.

-There is inflation news from the US on Thursday, so make sure to tip-toe around that.

A lot more detailed information in this week’s video below 🙂

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Clues of reversals and possible bargains

MAJORS

EUR/USD:  A grade short for me is from 1.1576

USD/CHF: I’d be looking to short from 0.9400. On smaller timeframes 0.9200 looks interesting to long from.

GBP/USD: Still too messy for me fundamentally at the moment. Leaving it alone.

AUD/USD: A grade area for me is to short from 0.7290

NZD/USD: Similar scenario to the AUD pair, looking to short from 0.68540

USD/JPY:  LA grade long for me at 109.672 Intraday I’d be looking at 115.400

USD/CAD:  Looking to short from the 1.2820 area (Massive previous support and resistance). On the weekly chart 1.25322 looks like a long to me.

Clues of reversals and possible bargains

CROSSES

EUR/GBP:  I would like to short from 0.86000.

GBP/CAD:  Little bit messy for me, but I’m looking at 1.7250 to long.

GBP/JPY: Needs a pullback, but I’d like to long from the 150.00 –  151.00 zone.

EUR/CAD:  One to look at at the open -short from the current position at 1.4613 (already did a 110 pips Yesterday)

GBP/NZD: Needs a big pullback. I’m looking at 1.9500  as an area of interest.

GBP/AUD: Long from 1.8700 is a possibility  -A grade for me though is 1.8560

AUD/CAD: 0.93770 is an A grade short for me.

AUD/JPY: Too messy for me at the moment -stuck between all the ema’s.

CAD/JPY: Long from 86.70 looks interesting.

Clues of reversals and possible bargains

As always, remember correlation!

 

M3 -Shorter timeframes.

See the new course & recent blog posts as to how I do this: I do my analysis on daily and weekly charts first and make a note of the MAJOR areas of support and resistance. Then copy them onto Pierre’s Earth and sky template. Then I make a note of the weekly & monthly pivots points and add them to the charts. You will see lots of opportunities line up during the week. The important thing then is to select a bias for the next few days and do NOT take trades if the price is too near a trend line or pivot. Ideally, you want to buy when the price is near a major support and or pivot point line and has the potential to make at least 40 pips. Vice versa for a short.

New members, please note: If I am looking to take a trade long, for example, 1.5000, I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads.

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

For more up to the minute, updates do not forget to drop by the forum. Ashley is back from his travels and there are other senior members who are happy to help.

If you would like to learn how to trade like a professional check out our 5* rated forex mentor program, RISK FREE; by clicking on the “Get Started Today” Button below

Watch the video below for more detailed explanations of this week’s analysis and trade plan:

If you only want to see my trading ideas for the week ahead they start about 9 minutes into the video. To see the video full screen click the box bottom right corner.