Potential 250% Crypto Trade

My analysis for the week ahead for forex, stocks and crypto. Before setting off on my travels, I mentioned that July and August are usually quiet months, but we can have some crazy periods. We saw this on Friday after Powell’s speech; the market bounced back, taking clues that a rate cut is very likely next month.

Stocks, crypto and the majors rebounded and shot back up. I told folks in advance, after Bitcoin hit $124,000 that if it dropped to $112,500, that would be a buy for me. It did just that, how many bought it?

COIN was a buy around $300., and numerous others, the market reacted to those levels on Friday. Spookily accurate again.

I have also shared a new possible flag pattern on GOLD, suggesting a $500 move to the upside, potentially taking the price to $3750.

I also explained the importance of zooming out and focusing on the bigger picture. This is important all the time and I have shared with you some examples in the video of how you could have avoided losers and also caught some very good trades.

Check out Marc Chandler’s article to keep up to date with the fundamentals around the world.

Marc to Market

I just bought a speculative crypto token, at $2.75. Technically, it has the potential to make 250% of the recent high in March. Watch all of the video to find out which one! As EVER NOT FINANCIAL ADVICE.

The Forex Week Ahead+++++++++++++++++++++++

Next week there is a bank holiday in UK on Monday, so expect less movement. There is not a lot of red flag news but most of it is Orange Flag and mainly leading indicators for USA. Tuesday you have the core durable orders, which will be important. Wednesday AUD CPI. Thursday’s Prelim GDP could move the markets. There are lots of speeches and Friday is JPY core CPI and CAD GDP.

The biggest potential event for stocks and crypto is Nvidias results which will be published after the market close on Wednesday

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I will host this week’s live training session with Ashley.

The live training session: Here is a link to register for this week’s live training session. It takes place on Tuesday, 26th August at 11.00am London time (BST/GMT+1)

https://us02web.zoom.us/webinar/register/WN_JdOAZzUURSuWXENl-ZgyRQ

Then we can have a more detailed, up-to-the-minute look at what’s happening and potential trades for the rest of the week.

MAJORS

I am looking for “A” grade trades from weekly & daily charts that I can place the orders and then just walk away. A “B” grade is of interest, but not an A yet.

As ever I always look for multiple reasons in a trade. The more you have the higher the probability.

EUR/USD: 1.1470 and 1.1430 are my ideal areas to enter a long for multiple reasons. Intra day 1.1580.

USD/CHF: Possible Flag pattern, needs a break above the range. EUR a better bet.

Do not take the Euro/$ & Chf at the same time. They are correlated so it’s the same “bet.”

GBP/USD: Far away from the A-grade area, EUR is still better.

AUD/USD: 0.6675 is the interesting area for me to short. Will only long if it breaks clearly above the EMAs and previous high. Watch the video

NZDUSD: Weekly 0.6130 is interesting to short. Daily 0.59100 for multiple reasons. An A grade.

USD/CAD: Needs to have a clear break above the EMAs, ideally on a weekly to then take a long. Watch the video.

There is also an inverse Head and shoulder on the 4HR , needs a daily candle break to then long, possibly 1:2 risk reward.

USDYEN: Needs a break above or below as its stuck in between EMAs right now.

Some are A grades, where I will place forward orders; some pairs have “areas of interest.” I have a lot of similar crosses, so be very careful with the correlation.

Cross Pairs

EURGBP: 0.85650 is an A-grade long for me, waiting for the pullback patiently. It’s a slow pair. You could look to split the trade. 0.86 also looks interesting for the short term to long.

AUDCAD: Leaving it alone, it doesn’t look the best, as it’s just ranging above and below EMAs.

EURAUD: 1.7860 is an attractive area to long for me.

I have quite a few other “possibles” that I will monitor during the week. I also have some crypto and stock ideas that I share in the previous post and video..

As always, remember correlation!

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”; we aim to teach you how to trade for yourself.

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

To find out more about our crypto journey, check out the mini-course, and if you want to get involved in what I believe is the next boom, scroll to the bottom of this page to find out more: CLICK HERE