Hi, in today’s live training session we covered a number of topics as ever. We got into the subject of forex and possible trade setups around the 30-minute mark. THe Gby/Yen set up we looked at on Pierre’s Earth & Sky is currently + 70 pips in profit. The Euro/$ did bounce off 1.2000 again and there have been a number of other winning trades from Sunday’s analysis.
Remember it’s the UK budget day today so the best advice is do not open any new GBP trades until after the presentation
Once again there have been some great “calls” from senior members in the forum who are sharing tips, ideas, and advice.
As you will have come to realize, all markets are interlinked and the trading skills we teach you can be used to trade any financial markets. I do NOT use leverage on crypto nor gold as explained in the session, but I do use technical and fundamentals to pinpoint buying (or sell) opportunities.
Gold is currently dropping but I show why I believe everyone should have exposure to it if they have an investment portfolio especially in times of financial turmoil. Last year when the Covid crisis first hit I shared my analysis as to why it was a buy for me at $1500. It is currently drifting lower and for the mid-term, it looks as though it could be on its way to the same area.
Gold over the longterm has been used as a hedge against inflation as well as financial upheavals- here is an image showing how gold has held its buying power over the last 50 years compared to fiat currencies like the USD:
The “new kid on the block” is of course Bitcoin. I showed again how spookily accurate Fib levels are when looking for buying opportunities with cryptocurrencies and how BTC’s recent drop was predictable and actually less severe than last time (so far at least).
I also showed how the “whales” (those who hold more than 1000 BTC) are sat waiting when price pulls back.
We then looked at lots of potential trades and some winners that had fired already. Also how you can help to reduce the number of losing trades, improve your results and use some inexpensive software to manage trades once you have entered.
This is particularly useful for those who don’t have much screentime or find that winning trades turn into losers whilst they are at work or in bed!
You can find more information here and get a 30-day free trial to test it: AZ Invest MT4 trade Manager Free Trial:
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.
Watch the video for more detailed explanations of this week’s analysis and trade plan.