Global Prime: Daily Market Digest

IvanGlobalPrime

Private
Messages
25
Find my latest market thoughts

The USD Sinks With Or Without Stimulus​

Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on Youtube. Join thousands of traders who follow Ivan's insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.

Let’s get started…


Scan Of The Markets​



To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.

In my latest report I made the case that the market kept behaving in a manner that continues to give the benefit of the doubt (glass half full) to ultimately see further fiscal stimulus in the US being agreed.

Evidence that Trump had made a U-turn by suddenly endorsing a $1.8 trillion proposal as part of a fiscal stimulus buoyed markets on Friday even if such groovy vibes and levels of hope may require a revision judging by the weekend news where House Leader Pelosi and Republicans opposed to the fiscal package.

Politico notes: “Senate Republicans lashed out at a potential framework for a new coronavirus deal between the Trump administration and Speaker Nancy Pelosi on a conference call Saturday, warning that there was little support for a big spending bill right before the election.”

But so far what the charts are telling us is that the US Dollar and the Japanese Yen, as the usual suspects to be sold on risk appetite, are still not finding bids and remain in a protracted selling campaign. The Euro is also suffering from sell-side flows on aggregated terms. The commodity-link currencies (AUD, NZD, CAD) are thriving.

In particular, the CAD was briefly boosted by a tremendous employment report that far exceeded expectations. Meanwhile, the GBP had an impressive bullish run stripping out a disappointing GDP at 2.1%m/m vs 4.6% expected. UK Prime Minister Johnson will announce new COVID-19 related restrictions to MPs on Monday with the BBC saying it is “very likely” some areas will face further restrictions as seen in other European cities where tighter restrictions were implemented such as Berlin, Madrid and Paris.

Heading into this week, the calendar is full of top-tier events. In Australia, the RBA Governor Lowe is set to speak on Thursday, an event that will be closely scrutinized as the RBA has hinted at further easing at the upcoming November meeting. This appearance by the RBA boss happens to be the same say the jobs report is published. Elsewhere, earnings season in stocks, US election polls and the resolution of the EU-UK trade talks will take the spotlight. Besides, the publication of US Retail Sales on Friday will also be monitored closely.

As per today’s hot trade of the day, I’d like to highlight a long setup up in the GBP/USD with a 3:1 RR target that was absolutely smashed. This trade was once again a combo of the TT or trap pattern with the soon to be released order flow script. A compression pattern, followed by the confirmation of a trap pattern, all well portrayed thru the OFA indicator gave the go ahead to capitalize on this position.

If you found this fundamental summary helpful, just click here to share it!

Hot Trade Of The Day​

To see an expanded version, right-click and select ‘open link in new tab‘. In this section I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook. My video analysis below will further elaborate on the logic behind the trade.


Insights – Hot Trade Of The Day​


In this video analysis I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.

If you found the content valuable, give us a share by just clicking here! Besides, if you have a suggestion on extra instruments for me to cover, reach out to me via Twitter.


Recent Economic Indicators & Events Ahead​



Source: Forexfactory

If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!

Important Footnotes​


MARKET STRUCTURES

Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to this video. Fractal breakouts is at the epicenter to assist us in the analysis of chart structures.

MARKET MOMENTUM

In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video I lay out the elements I look into to call trend directions.

PROJECTION TARGETS

The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection

 

IvanGlobalPrime

Private
Messages
25
Find my latest market thoughts

US Stocks Soar In Columbus Day​

Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on Youtube. Join thousands of traders who follow Ivan's insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.

Let’s get started…


Scan Of The Markets​



To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.

If last Friday was all about USD weakness with out without a fiscal stimulus deal in the US, in the first day of the new week the dominant theme was the surge in US stocks with or without Columbus Day as the Nasdaq index leads the charge into higher territory.

Surprisingly, the AUD and NZD ended as two of the worst performing currencies with news outlets out there attributing the lackluster behavior to the recent action taken by the PBOC to limit the CNH strength. In my book, while respecting fundamentals, technicals and the psychology of flows is what I am most keen to follow, and it tells me the Aussie still looks technically very strong against the USD.

In fact, today’s trade of the day, is what I envision to be a potential long setting up in the Aussie vs the US Dollar based on the read of market structures, momentum and order flow. It’s all aligning for the bulls and we just need to see the initiation of a price delivery above 0.7215/20 to reinforce this conviction for a long play in the next 24h.

If you found this fundamental summary helpful, just click here to share it!


Hot Trade Of The Day​

To see an expanded version, right-click and select ‘open link in new tab‘. In this section I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook. My video analysis below will further elaborate on the logic behind the trade.


Insights – Hot Trade Of The Day​



In this video analysis I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.

If you found the content valuable, give us a share by just clicking here! Besides, if you have a suggestion on extra instruments for me to cover, reach out to me via Twitter.


Recent Economic Indicators & Events Ahead​


Source: Forexfactory

If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!

Important Footnotes​


MARKET STRUCTURES

Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to this video. Fractal breakouts is at the epicenter to assist us in the analysis of chart structures.

MARKET MOMENTUM

In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video I lay out the elements I look into to call trend directions.

PROJECTION TARGETS

The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection
 

IvanGlobalPrime

Private
Messages
25
Find my latest market thoughts

Strong Bid In The USD Across The Board​

Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on Youtube. Join thousands of traders who follow Ivan's insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.


Let’s get started…

Scan Of The Markets​



To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.

It was turnaround Tuesday as risk-off came back rather aggressive leading to a steady bid in the US Dollar, Japanese Yen and a surprisingly strong Canadian Dollar, decoupled from the underperformance of other commodity-related assets (AUD or Gold). The Pound also suffered from the lack of clarity on Brexit.

After scanning through the news, there was no specific catalyst that may have been pin pointed to spark the run to safe haven assets. The dominant themes remain the fiscal stimulus talks, with a positive outcome ahead of the US election rather illusive while the Presidential polls continue to show Biden pulling further away in the lead. The deterioration in COVID-related cases worldwide and some setback in vaccine news was attributed as a factor not helping either.

When it comes to today’s hot trade of the day, I’ve made a video where I walk viewers through a potential short setup in the AUD/USD during the last European session. This was a short clearly identified via my proprietary order flow script. Traders could have been exposed to a ridiculous 15:1 risk reward assuming they let the position run as it turned out to be a monster of a trade off an hourly supply area.
If you found this fundamental summary helpful, just click here to share it!

Hot Trade Of The Day​

To see an expanded version, right-click and select ‘open link in new tab‘. In this section I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook. My video analysis below will further elaborate on the logic behind the trade.


Insights – Hot Trade Of The Day​



In this video analysis I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.

If you found the content valuable, give us a share by just clicking here! Besides, if you have a suggestion on extra instruments for me to cover, reach out to me via Twitter.

Recent Economic Indicators & Events Ahead​


Source: Forexfactory
If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!

Important Footnotes​


MARKET STRUCTURES

Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to this video. Fractal breakouts is at the epicenter to assist us in the analysis of chart structures.

MARKET MOMENTUM

In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video I lay out the elements I look into to call trend directions.

PROJECTION TARGETS

The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection
 

IvanGlobalPrime

Private
Messages
25
Find my latest market thoughts

GBP Flies On Brexit, AUD Sold On RBA​


Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on Youtube. Join thousands of traders who follow Ivan's insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.


Let’s get started…


Scan Of The Markets​



To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.

The story of the day in the currency market was the renewed strength in the British Pound after the UK signaled that the October 15 deadline to get a trade deal done with the EU will drag on and talks are set to continue.

The removal on this immediate risk caused a sudden and long last flurry of buy-side activity in the currency as it topped the leader board. The order flow in the GBP index below shows the vigorous recovery.



The Japanese Yen did quite well too as the sell-side pressure in the main US stock indices prevailed for a second day in a row. Interestingly, the USD was not able to capitalize on this reversal of risk profile.

The fact that fiscal stimulus talks in the US are going nowhere with US. Speaker Pelosi and Treasury Secretary Mnuchin exchanging position yet not reaching a coronavirus aid compromise. While the plan is to speak again on Thursday, even Mnuchin recognized that having an agreement and executing it before the election looks like a tall order.

The AUD is a currency likely to be exposed to above average vol today as the country releases its jobs report. Besides, the RBA Governor Lowe gave a strong hint of further easing ahead by noting that it is possible for the Central Bank to cut rates to 0.1%.

It is precisely the AUD/USD that takes the limelight as part of the hot trade of the day, which includes a long position during the last European session identified via my proprietary order flow script. Anyone soon to enjoy this script via Tradingview could have taken this trade, which ended up for a break even outcome.

If you found this fundamental summary helpful, just click here to share it!


Hot Trade Of The Day​

To see an expanded version, right-click and select ‘open link in new tab‘. In this section I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook. My video analysis below will further elaborate on the logic behind the trade.



Insights – Hot Trade Of The Day​



In this video analysis I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.

If you found the content valuable, give us a share by just clicking here! Besides, if you have a suggestion on extra instruments for me to cover, reach out to me via Twitter.


Recent Economic Indicators & Events Ahead​



Source: Forexfactory

If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!

Important Footnotes​


MARKET STRUCTURES

Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to this video. Fractal breakouts is at the epicenter to assist us in the analysis of chart structures.

MARKET MOMENTUM

In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video I lay out the elements I look into to call trend directions.

PROJECTION TARGETS

The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection
 

IvanGlobalPrime

Private
Messages
25
Find my latest market thoughts

‘Risk Off’ Returns With A Vengeance​

Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on Youtube. Join thousands of traders who follow Ivan's insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.

Let’s get started…


Scan Of The Markets​



To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.

We had a classic global flight to safety with no particular catalyst once again but rather a range of worries for Mr. Market. The usual suspects (USD, JPY, CHF, Gold) were the main risers while commodity-linked currencies (AUD in particular) and the GBP fell sharply amid the sell-side flows in equity indices since Europe.

Media outlets are attributing the latest selloff to the tougher stance by a handful of European countries in re-imposing antivirus restrictions, underwhelming vaccines news as the WHO stated that the Remdesivir treatment had little effect on Covid-19 mortality, plus the well-known disagreements in the US to get a new fiscal stimulus deal.

The first currency that has my attention is the AUD, exposed to above average vol today after a disappointing Australian jobs report. Besides, the RBA Governor Lowe gave a strong hint of further easing ahead by noting that it is possible for the Central Bank to cut rates to 0.1%. It was this admission by Lowe that kept the AUD well supplied.

As per the Pound, it performed poorly amid Brexit negotiations coming down to the wire, yet not as bad as the AUD. In a statement by Brexit negotiator David Frost, he recognized that they were surprised and disappointed at the outcomes achieved in the EU summit. The market is still treating the Pound, however, as if not all hopes are lost since UK PM Johnson pledged not to blow it all up and continue the negotiations for another 2-3 weeks. Will it matter?

David Frost tweeted: “Disappointed by the #EUCO conclusions on EU/UK negotiations. Surprised EU is no longer committed to working “intensively” to reach a future partnership as agreed with @vonderleyen on 3 October. Also surprised by suggestion that to get an agreement all future moves must come from UK. It’s an unusual approach to conducting a negotiation. PM will set out reactions and approach tomorrow…”

The true ‘risk-off’ spell the markets are going through is well reflected through a pair as risk sensitive as the GBP/JPY. It is precisely this pair that offered a great short opportunity in the last 24h by crosschecking the order flow dynamics between the 8h chart (best to capture session by session ebbs and flows) and the 1h time scale. The video below walks you through the rationale that led to the sell-side idea.

If you found this fundamental summary helpful, just click here to share it!


Hot Trade Of The Day​

To see an expanded version, right-click and select ‘open link in new tab‘. In this section I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook. My video analysis below will further elaborate on the logic behind the trade.


Insights – Hot Trade Of The Day​



In this video analysis I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.

If you found the content valuable, give us a share by just clicking here! Besides, if you have a suggestion on extra instruments for me to cover, reach out to me via Twitter.


Recent Economic Indicators & Events Ahead​



Source: Forexfactory

If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!

Important Footnotes​


MARKET STRUCTURES

Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to this video. Fractal breakouts is at the epicenter to assist us in the analysis of chart structures.

MARKET MOMENTUM

In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video I lay out the elements I look into to call trend directions.

PROJECTION TARGETS

The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection
 

IvanGlobalPrime

Private
Messages
25
Find my latest market thoughts

Oceanic FX Unloved, European Ones Thrive​


Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on
Youtube. Join thousands of traders who follow Ivan's insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.


Let’s get started…


Scan Of The Markets​



To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.

The European block (EUR, CHF) were the main beneficiaries as a new weeks gets underway while the USD was initially under strong pressure for most of the day only to rebound quite decisively late on the day. The Oceanic currencies could not find any love with both the AUD and NZD imploding mid way through the European session as the losses in equities weighted towards the allure of ‘risk-on’ fiats.

When it comes to the GBP, it charged higher from the get go in Europe amid the lingering Brexit negotiations which had both a positive spin at first but such optimism faded away later on the day. The GBP pairs have been particularly choppy as the Brexit talks have entered the hottest stage and as such the GBP is subject to headlines.

Another major yet familiar driver that continues to influence the overall market mood and the USD in particular include the ongoing fiscal stimulus negotiations in the US. According to media reports, House Majority Leader Pelosi and US Treasury Secretary Mnuchin “continued to narrow differences”. Pelosi left hopes hanging up in the air by hinting a deal pre-election cannot be ruled out. The next 24h to 36h will be crucial given the deadline set by Pelosi to strike a deal.

Notwithstanding the sell-side pressure in ‘risk on’ currencies, which should have benefited the Yen, today’s hot trade of the day outlines a position to exploit short exposure in the Japanese currency against the single currency. This is a trade that falls under the category of the TT or Trapped Traders pattern. It occurred around the European open after a clear purge of EUR/JPY sellers. This trade went for over 10:1 risk reward for those avid enough to have spotted it.

If you found this fundamental summary helpful, just click here to share it!


Hot Trade Of The Day​

To see an expanded version, right-click and select ‘open link in new tab‘. In this section I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook. My video analysis below will further elaborate on the logic behind the trade.



Insights – Hot Trade Of The Day​



In this video analysis I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.

If you found the content valuable, give us a share by just clicking here! Besides, if you have a suggestion on extra instruments for me to cover, reach out to me via Twitter.


Recent Economic Indicators & Events Ahead​




Source: Forexfactory

If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!

Important Footnotes​


MARKET STRUCTURES

Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to this video. Fractal breakouts is at the epicenter to assist us in the analysis of chart structures.

MARKET MOMENTUM

In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video I lay out the elements I look into to call trend directions.

PROJECTION TARGETS

The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection
 

IvanGlobalPrime

Private
Messages
25
Find my latest market thoughts

EUR Keeps Ruling, Equities Still Pressured​

Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on Youtube. Join thousands of traders who follow Ivan's insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.


Let’s get started…


Scan Of The Markets​



To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.

In many ways, Tuesday’s script resembled Monday’s price action as the EUR and the CHF continue to be the main winners, even if this time the CAD also joined the bullish party as Oil rose to the best levels in 6 weeks. The AUD and NZD remained weak again as chatter builds up that the RBA will step up its easing measures near term.

In terms of the USD performance, its sluggishness prevailed, as American Democrats and Republicans kept making the right sound bites and feeding into the narrative that a fiscal stimulus deal is still possible. US House Representative Pelosi said she is ‘optimistic’ that a deal could be struck, playing down Tuesday’s deadline.

Pelosi said: “It isn’t that this day was a day that we would have a deal, it was a day that we would have our terms on the table to be able to go to the next step.” Pelosi and Mnuchin are set to meet later on Tuesday. However, today’s response by Mr. Market was clearly one of a ‘glass half empty’, acting with notable skepticism that an agreement will be done pre-election judging by the late selloff in equities.

The JPY and GBP both meandered around with no discernable directional bias. The chart of the GBP/JPY speaks a thousand words with the pair chopping around amid the balance of flows in two currencies that remain subject to the unraveling of new risk dynamics and Brexit talks/UK lockdowns respectively. Not much to see…

As per the hot trade of the day, I’d like to highlight a trap pattern that has emerged off the USD/CAD in the 4h timeframe that meets the pre-conditions to make it a rather attractive sell-side proposition. In today’s video I lay out the explanation that is leading me to make such call upon a retest of a role reversal area around the 1.3150 vicinity.

If you found this fundamental summary helpful, just click here to share it!

Hot Trade Of The Day​

To see an expanded version, right-click and select ‘open link in new tab‘. In this section I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook. My video analysis below will further elaborate on the logic behind the trade.

Insights – Hot Trade Of The Day​



In this video analysis I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.

If you found the content valuable, give us a share by just clicking here! Besides, if you have a suggestion on extra instruments for me to cover, reach out to me via Twitter.


Recent Economic Indicators & Events Ahead​



Source: FXStreet

If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!

Important Footnotes​


MARKET STRUCTURES

Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to this video. Fractal breakouts is at the epicenter to assist us in the analysis of chart structures.

MARKET MOMENTUM

In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video I lay out the elements I look into to call trend directions.

PROJECTION TARGETS

The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection
 

IvanGlobalPrime

Private
Messages
25
Find my latest market thoughts

Sterling Shines, Greenback Darkens​

Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on Youtube. Join thousands of traders who follow Ivan's insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.

Let’s get started…


Scan Of The Markets​



To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.

Looking at the leaderboard, there were two major contrasts in performance in the last 24h. On one hand, the British Pound skyrocketed amid renewed optimism that a Brexit trade deal is within reach. On the other hand, the North American currencies (USD, CAD) succumbed once again with no fiscal package agreement looming and an uncertain election outcome around the corner.

The latest we know about the US stimulus bill is that US House Representative Pelosi and Treasury Secretary Mnuchin met again following the ‘symbolic’ deadline to ink a deal by last Tuesday. Pelosi reiterated that an agreement by this weekend is within reach and if that were to occur it would allow a bill to be approved ahead of election day. In a TV interview she expressed satisfaction about the state of talks, hinting that a stimulus bill is now a matter of when and not if.

In the Brexit front, following the suspension of talks last week, EU Chief negotiator Barnier said on Wednesday that a trade deal with the UK was “within reach if we are on both sides prepared to work constructively and in a spirit of compromise”. This upbeat tone by Barnier, alongside the willingness by UK PM Johnson to step up “intensive” talks for the next three weeks has revived hopes that a deal by mid-November is a scenario the market is now factoring in.

An asset that took the spotlight in the last American session and was a big mover was Bitcoin, skyrocketing as news broke out, via Reuters, that “PayPal Holdings will allow customers to hold bitcoin and other virtual coins in its online wallet and shop using cryptocurrencies at the 26 million merchants on its network.” The market immediately connected the dots about what this means for wider adoption.

With regards to the hot trade of the day, amid the Brexit developments, which acts as a positive catalyst for European assets, and baring in mind the weakness in the North American currencies, my proprietary OFA (Order Flow) script identified a long position in the EUR/CAD that eventually travelled for a 3:1 risk reward, which means that for every $100 at risk one could have tripled their capital invested.

If you found this fundamental summary helpful, just click here to share it!

Hot Trade Of The Day​

To see an expanded version, right-click and select ‘open link in new tab‘. In this section I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook. My video analysis below will further elaborate on the logic behind the trade.



Insights – Hot Trade Of The Day​



In this video analysis I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.

If you found the content valuable, give us a share by just clicking here! Besides, if you have a suggestion on extra instruments for me to cover, reach out to me via Twitter.


Recent Economic Indicators & Events Ahead​



Source: Forexfactory

If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!

Important Footnotes​


MARKET STRUCTURES

Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to this video. Fractal breakouts is at the epicenter to assist us in the analysis of chart structures.

MARKET MOMENTUM

In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video I lay out the elements I look into to call trend directions.

PROJECTION TARGETS

The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection
 

IvanGlobalPrime

Private
Messages
25
Find my latest market thoughts

‘Risk On’ Reignited, US Stimulus ‘About There’​

Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on Youtube. Join thousands of traders who follow Ivan's insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.

Let’s get started…


Scan Of The Markets​



To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.

A wave of renewed risk appetite returned through the US session as US stimulus hopes were re-inflated after US House Representative Pelosi stated “we’re just about there”. The news lifted the likes of US equities as well as commodity-linked currencies.

It’s also important to highlight that the right sound bites via Pelosi were endorsed via a handful of republican senators. There is a growing wave of Republicans ready to pass an estimated $2 trillion + package, which makes the odds of a fiscal deal finally inked out higher even ahead of the election which happens to be just 12 days away.

All eyes will now be on the final Presidential debate between Trump and Biden before the Nov 4 election. A Democratic Clean Sweep looks increasingly likely judging by polls conducted by the main players, including FiveThirtyEight, projecting the chances at 72%.

This Friday is set to be quite a volatile one in the markets, not just ignited by the reaction to the latest Presidential debate, but due to the plethora of fundamental events lining up, including NZ CPI (just out with a soft reading), UK Retail Sales and PMIs for EU/UK/US.

In terms of the hot trade of the day, the recovery in risk appetite was well telegraphed through the reinvigoration of the CAD/JPY through Europe. The eventual follow through in the bullish price delivery was identified through the OFA script, which served as a reinforcement of the TT or Trap Pattern that also formed around the key support.

If you found this fundamental summary helpful, just click here to share it!


Hot Trade Of The Day​

To see an expanded version, right-click and select ‘open link in new tab‘. In this section I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook. My video analysis below will further elaborate on the logic behind the trade.



Insights – Hot Trade Of The Day​



In this video analysis I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.

If you found the content valuable, give us a share by just clicking here! Besides, if you have a suggestion on extra instruments for me to cover, reach out to me via Twitter.


Recent Economic Indicators & Events Ahead​



Source: Forexfactory

If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!

Important Footnotes​


MARKET STRUCTURES

Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to this video. Fractal breakouts is at the epicenter to assist us in the analysis of chart structures.

MARKET MOMENTUM

In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video I lay out the elements I look into to call trend directions.

PROJECTION TARGETS

The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection
 

IvanGlobalPrime

Private
Messages
25
Find my latest market thoughts

Exodus Of Flows In The US & Into Europe​


Ivan Delgado is a decade-long Forex Trader. Feel free to follow Ivan on Youtube. Join thousands of traders who follow Ivan's insights to increase their profitability rate by learning the ins and outs of how to read and trade financial markets. Ivan has you covered with in-depth technical market analysis to help you turn the corner.

Let’s get started…


Scan Of The Markets​



To see an expanded version, right-click and select ‘open link in new tab‘. The indices show the performance of a currency vs a G8 FX basket.

The EUR ended last Friday as the strongest currency alongside CHF, which usually replicates the behavior of the former. These two currencies, alongside a revived Kiwi, also topped the leader board last week. On the other side of the spectrum, we find the USD and the CAD, further reinforcing the notion that a marked transition inflows has been seen away from the North American complex into Europe.

Out of Europe, we learned that the ‘flash’ PMI data did not worsen this time, which is a relief. Besides, the engine of growth in Europe, Germany, was the outlier with its manufacturing index at 58.0 from 56.4 (highest since April 2018) against an expected fall to 55.0. As NAB notes, “this is testament to the veracity of China’s post-pandemic economic recovery and related demand for German exports.”

Even the Pound, which has been quite choppy as of late given the back and forth in the Brexit negotiations, has also recovered its appeal as clearly depicted by the bullish breakout in the GBP index. The currency had been leading the pack in G8 FX last week but a rather sharp sell-off on Friday took the shine away from what was otherwise a positive week for the Pound as politicians in the EU/UK kept the hopes of an eventual trade deal alive for a few extra weeks. GBP traders had to contend with a poor Friday’s PMI in the UK, even if that was countered by the strong jump in September retail sales.

What’s been certainly interesting is the mass exodus in US assets as depicted by the performance in the USD, US stocks, and US bonds, all pushed down in the week that was just 1 week and a half ahead of the US election on November 4th. Having such an outflow of money out of these instruments simultaneously communicates that the real money is interested in parking capital allocations elsewhere until the US election outcome clears up and amid a lack of stimulus deal in the US.

As per the hot trade of the day, along the lines of the thematic highlighted in today’s report, that is, the ongoing transitions in money flows away from North American and into European assets, I am quite keen to stalk for buy-side opportunities in the GBP/CAD. The pair shows a bullish trap pattern on the 8h timeframe, also backed up by the latest order flow as my proprietary script shows. When looking at the daily, the bullish structure is also quite constructive with momentum and structure both pointing bullish.

If you found this fundamental summary helpful, just click here to share it!


Hot Trade Of The Day​

To see an expanded version, right-click and select ‘open link in new tab‘. In this section, I pick a market or several ones that presented an opportunity to buy on weakness or sell on strength based on the higher timeframes outlook. My video analysis below will further elaborate on the logic behind the trade.



Insights – Hot Trade Of The Day​



In this video analysis, I dissect the information above. Ultimately, it is the traders’ call, via a set of entries thoroughly backtested, to enter and manage a position, hence the video is intended as educational in nature and not financial advice.

If you found the content valuable, give us a share by just clicking here! Besides, if you have a suggestion on extra instruments for me to cover, reach out to me via Twitter.


Recent Economic Indicators & Events Ahead​



Source: Forexfactory

If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video I produced. The indicator allows you to save time, avoid mistakes. It’s spot on!


Important Footnotes​

MARKET STRUCTURES

Markets evolve in cycles followed by a period of distribution and/or accumulation. To understand the principles applied in the assessment of market structures, refer to this video. Fractal breakouts is at the epicenter to assist us in the analysis of chart structures.

MARKET MOMENTUM

In order to assess the market momentum of a particular asset, I’ve promoted for years the idea of using what I call the smart money tracker. The settings and the indicator can be obtained via our Discord room, where traders from all walks of life interact frequently. In this video, I lay out the elements I look into to call trend directions.

PROJECTION TARGETS

The usefulness of the 100% projection resides in the symmetry and harmonic relationships of market cycles. By drawing a 100% projection, you can anticipate the area in the chart where some type of pause and potential reversals in price is likely to occur, due to 1. The side in control of the cycle takes profits 2. Counter-trend positions are added by contrarian players 3. These are price points where limit orders are set by market-makers. You can find out more by reading the tutorial on The Magical 100% Fibonacci Projection
 
Top