Live: Will the markets range?

by Ashley DeSousa | Dec 20, 2023 | Forex Analysis

Christmas

Live: Will the markets range?

Hi all,

Thinus And I hosted the webinar today. We went through the M2 setup, and E&S pairs and I also showed you some setups for the week ahead.

We mentioned in the webinar that the next few weeks we might see the markets hardly move/reduce the pip range. This is because of the Christmas holidays and also most institutions close their positions for the end of the year as they have to balance their books. We could see the markets entering a range.

It is also a risky time to trade because if there is less liquidity traders could react differently causing some volatile moves on which you could get taken out. Hence its best not to trade around these times. It is basically like watching the paint dry.

For me personally, this would be my last week and I’m looking to close all my positions by the end of the week. Usually, a good time to start trading back in the New Year is Martin Luther King Day which is on the 15th of January. Marc has mentioned this several times in the past few years and I have followed it.

I also showed you how I scaled into one of the trades from last week. I re-entered EURGBP when it pulled back at the 55 EMA. The setup for me is still valid and has multiple reasons for the stop and we are in a downtrend at the minute. This is one of the ways you can increase your profitability in the markets. Its currently up around 60 pips in total considering my previous entry.

It was good I scaled out of the EURGBP last week as the whole move was reversed yesterday. This is why it’s important to do it. You don’t want to be 100 pips in profit and not take at least some partial profit off and then see the whole thing reverse. The same applied to EURUSD, I was up 110 pips and I had taken some off and now it’s pulled back to around 60 pips. You can watch the video from last week of my 3 sniper entry trades below on our twitter feed.

https://twitter.com/marcwalton

I will be posting an article in the coming days on why I trade less pairs and will give you some tips on how you can improve your trading journey for next year. So keep an eye on the homepage or my blog.

You can watch the full webinar below:

Kind regards,

Ashley

None of the Forex Mentor Pro team nor its owners (expressly including but not limited to Marc Walton), officers, directors, employees, subsidiaries, affiliates, licensors, service providers, content providers and agents (all collectively hereinafter referred to as “Forex Mentor Pro ”) are financial advisers and nothing contained herein is intended to be or to be construed as financial advice

Forex Mentor Pro is not an investment advisory service, is not an investment adviser, and does not provide personalized financial advice or act as a financial advisor.

Forex Mentor Pro exists for educational purposes only, and the materials and information contained herein are for general informational purposes only. None of the information provided in the website is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, recommendation or sponsorship of any company, security, or fund. The information on the website should not be relied upon for purposes of transacting securities or other investments.

You hereby understand and agree that Forex Mentor Pro, does not offer or provide tax, legal or investment advice and that you are responsible for consulting tax, legal, or financial professionals before acting on any information provided herein. “This report is not intended as a promotion of any particular products or investments and neither Forex Mentor Pro group nor any of its officers, directors, employees or representatives, in any way recommends or endorses any company, product, investment or opportunity which may be discussed herein.

The education and information presented herein is intended for a general audience and does not purport to be, nor should it be construed as, specific advice tailored to any individual. You are encouraged to discuss any opportunities with your attorney, accountant, financial professional or other advisor.

Your use of the information contained herein is at your own risk. The content is provided ‘as is’ and without warranties of any kind, either expressed or implied. Forex Mentor Pro disclaims all warranties, including, but not limited to, any implied warranties of merchantability, fitness for a particular purpose, title, or non-infringement. Forex Mentor Pro does not promise or guarantee any income or particular result from your use of the information contained herein. Forex Mentor Pro.com assumes no liability or responsibility for errors or omissions in the information contained herein.

Under no circumstances will Forex Mentor Pro be liable for any loss or damage caused by your reliance on the information contained herein. It is your responsibility to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content contained herein. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.

Marc Walton, owner of Forex Mentor Pro, communicates content and editorials on this site. Statements regarding his, or other contributors’ “commitment” to share their personal investing strategies should not be construed or interpreted to require the disclosure of investments and strategies that are personal in nature, part of their estate or tax planning or immaterial to the scope and nature of the Forex Mentor Pro philosophy.

All reasonable care has been taken that information published on Forex Mentor Pro website is correct at the time of publishing. However, Forex Mentor Pro does not guarantee the accuracy of the information published on its website nor can it be held responsible for any errors or omissions.