Marcs Analysis: THIS time Brexit Deal?

Hi, last week I advised that you should use the forum and its good to see more folks taking part. There are people posting and sharing ideas who are currently trading for our clients (some in the evaluation phase) SO they have experience of trading and at a higher level.

Ashley shared a good set up on the Gbp/$ that made him 70 pips & some of the other guys caught it too, so get in there and take part. If you are new then don’t be shy. I said last week that “the moral of the story is that a forum is a great tool.

GET INVOLVED. Share ideas. Ask Questions. Participate! However don’t just blindly follow/copy other folks ideas, but have a look at what they are considering then do your own research.”

Also, the live training session is where I update folks about possible trade setups and answer any questions you may have, try to get there!

This weeks Trading Ideas

Clearly, it was a VERY slow week just ended. Many pairs hardly moved and this week it is Thanksgiving weekend in the USA which starts on Thursday so we need to try to make our money by the time the FOMC announcement is made late Wednesday (UK time).

Marcs Analysis: THIS time Brexit DealThe Brexit situation MAY be coming to a conclusion.

We have of course been here before on numerous occasions over the last FOUR years 🙁

BUT if the rumours are taken seriously then we could see some big moves this week.

Sky news reported on Friday after the London markets closed that a deal is now 95% there: Click Here to see the article

A lot of the following pairs are correlated so as ever half the risk if you take 2 at the same time.

 

Marcs Analysis: THIS time Brexit Deal?

Aud/Nzd: I haven’t traded this for ages but technically its a good setup. Its in a 300 pip daily down channel. I will scale into this, half of the entry at 106.45 and the other at 106.70 with my stop above the 55ema and whole number.

Euro/Nzd: Worked to the pip but not until late on Friday 🙁  IF the Brexit deal news is taken seriously then my guess will be that would be seen as good news for the €uro ergo it would move up, possibly strongly). This being forex it could just as easily drop, but my bias is to long from the same place as last week. I will watch this and Gbp pairs at the market open and if that is slow, London open for potential big moves on all related Gbp& €uro pairs EXCEPT the €/Gbp as explained in the video.

If there isn’t a reaction and it drops then I will look to long again at the bottom at 1.7050 and at the top a short at 1.7900. Both look solid setups. Also note 1.7540/1.7590 for possible shorts too.

Nzd/Chf: Looking to long at 0.6210 for multiple reasons.

Gbp/Yen: I do not trade this but this is another on Jonah’s list. It’s not as strong but he is looking to long between 136.70/1.37.00. If it shoots up swing traders will look to short at 142.30 area.

Regular pairs: Many are the same as last week with the occasional “tweak” so pay attention 🙂

€uro/$: too messy now I either need a move up t0 1.2000 for a possible short or down to 1.1530 for a long. and the bigger area for a long is 1.1520 is still the big area

Chf: Repeatedly bounced off 0.9000 and won. I haven’t taken it because there is nowhere for the stop, but it keeps winning, your call! Intraday 0.9150 might interest some of you for a short.

Euro/Gbp: Because of Brexit leaving it alone.

Gbp/$: 1.3300 is key in both directions. Keep your eye on news re Brexit if you trade it. If there is a positive move up then this could go to 1.3500 so I will watch at the open for a possible long. The more conservative entry is to wait for it to break and close above 1.3350 then pullback, but if the news is positive it could just keep going. If its negative then 1.3300 is where swing traders will look for a short.

$/Yen: I only want to short 105.90 is the first area. If it shoots up then 106.85 is stronger

Cad: Trapped between 200 & 55ema. Leaving unless it breaks out.

Nzd: Broke and closed through a weekly trendline and monthly 55ema so the bias now is to long and 0.6810 is the spot for me.

Aud: Swing traders will looking to short at 0.7300 but it hardly moved last week, not for me. To long the Nzd is more interesting as less in the way than this pair. If it does a big drop then a long at 0.7000 is the place for me.

Aud/Yen: 75.00 to long and 78.00 to short

Euro/Yen One to watch: interesting to long a 122.50. 

Cad/Yen interested to short at 82.30. Don’t be in more than one Yen at a time.”

Marcs Analysis: THIS time Brexit Deal?

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 on to 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.

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

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