Weekly Analysis: Using M2 for 150% gain

by Marc Walton | Nov 7, 2023 | Forex Analysis

Weekly Analysis: Using M2 for 150% gain

Hi all,

I have shown you plenty of times how I have used my M2 strategy to trade different things. This can be forex, stocks and even crypto. This is not financial advice but just showing you what I am doing. Always do your own research before investing in anything.

A couple of weeks ago I showed you how you could get involved in Bitcoin if you didn’t want to get involved with it directly. I bought Microstrategy which is a company that holds 158,245 bitcoins bought for an average price of $29,582 each. Around 90% of their portfolio is invested in Bitcoin so if it appreciates their stock price would also increase.

I have also shown you RIOT which is another crypto mining stock. Both of them made me a gain of around 150% this week after holding them for just 10 days.

I only look to buy stocks if there is a potential of at least around 25% profit.

Now with Forex, on Friday we had some very big moves because of the NFP figures. The results came out worse than expected as the amount of jobs created in October were less than expected. The DXY has broken a major support line after being in a range for a few weeks. This is a clue that we could see potential $ weakness for the week ahead.

However, I would personally wait until Monday’s Daily candlestick close just to see what the US markets do as we have the scenario where the price has stopped at the big areas and it could easily break through those.

Also read Marc Chandler’s article as he is very good with the fundamentals and has explained what has happened at NFP and what it could mean for the week ahead.

Barring Upside Surprise on US Jobs, the Greenback Looks Vulnerable

Week Ahead: Have the Markets Turned?

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

For the week ahead on Tuesday you have the AUD cash rate announcement and the forecast shows that they are expected to increase interest rates. I would until this is out and then trade the AUD pairs. Apart from that it looks pretty good and a light week. There are a few speeches, Gov Bailey, Powell and Lagarde speaking. It shouldn’t be a big problem but if they say something it could cause some volatility.

MAJORS

Keep watching the $index it is now at a major “make your mind up” area once again on the weekly charts. It is now stuck at the 55EMA and you have the 200 EMA just above it. If it could break above that we could be looking at $ strength.

Remember 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 one that I will watch on 4 hour timeframes to see how it reacts if it hits my zone.

EUR/USD: It has stopped at a big area of 1.07. I would wait till Tuesday. It looks more attractive for a long if it breaks above the EMAs on Daily.

USD/CHF: Need the 55MA to break and then I would be interested for a short.

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

GBP/USD: Similar to the EUR, watch the video.

AUD/USD: 0.6680 is an interesting area for a short. Watch the video.

USD/CAD: Not a forward order but 1.36380 is an interesting area for a long.

USDYEN: The BOJ is very likely to intervene again so I wouldn’t bother playing around with it. Why try to fight a bank? You won’t win.

CROSSES

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

EURGBP: I will watch it at open as 0.86380 looks very interesting for a long.

GBPAUD: Ashley had a big win on it this week, watch him in the forum.

GBPCAD: Finally broken through the EMAS, 1.68100 would be interesting for a long.

EURCAD: Finally broken above EMAs on a weekly, so possibly longs at 1.45 again.

EURNZD: 1.76800 looks good for a long. Potential 600 pip move.

As always, remember correlation!

M3 -Shorter timeframes.

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 onto 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.

Watch the video below for more detailed explanations of this week’s analysis and trade plan (click the 4 arrows bottom right to view full-screen):

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.