Fx Plans, Correlation, Fake Outs & Crypto Buys
Hi, in today’s live training session as ever we covered a lot of topics.
I started by showing how the recent pullback on Bitcoin was a good buying opportunity for me and if it drops again the levels I will look to do so again. Please note I only buy crypto and am holding for the midterm I do not trade it and would never use leverage with it as its too crazy!
Last week I bought more at 1.17400 & 16200 & 16400 (mix up with me and Larry so we both bought)! I would be interested there again and still have forward orders at 15,400, 14,400 and 13200. I also explained my plans for 2 of my other top coins, Ethereum (ETH) & Ripple (XRP).
We then looked at how the market sentiment affects currency prices. Its the hardest thing to quantify, but when Obama was in power the focus was on how big the debt mountain was and how bad it was for the USA when it hit $17 trillion.
In the last 4 years with Trump, there has been no mention of it even though it now stands at over $27 trillion! I suspect in the New Year that will all change. All governments are in a mess with all the printing of paper money out of thin air. I think that how to pay for the covid bill will be the focus in 2021.
On Sunday I explained that usually, the markets slow down as we near Christmas but never as early as this year. I explained how to go down to 4 hour charts to look for trade setups if you can’t find them on longer timeframes and I showed some nice ones that are setting up.
This week Pierre has ELEVEN possible Earth & SKy trades. I explained how you MUST take correlation into account when lots of trades line up at the same time.
Live: Fx Plans, Correlation, Fake Outs & Crypto Buys
Fake outs: I showed how to try and avoid them and some real-world examples from the last few days.
All covered in today’s live training session which you can find here:
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.
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Watch the video for more detailed explanations of this week’s analysis and trade plan.
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