Global Prime: Daily Market Digest

IvanGlobalPrime

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Currencies consolidate vaccine-led rallies​


The British Pound made a statement of fortitude through Tuesday, ascending to the top of the leader board. The price of Gold was the only asset I monitor in my daily analysis able to keep up. The rest of currencies meandered without a discernable bias as the market appeared to consolidate the strong gains after the vigorous risk appetite wave following the positive vaccine news by Pfizer.

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 British Pound made a statement of fortitude on Tuesday, ascending to the top of the leaderboard. The price of Gold was the only asset I monitor in my daily analysis that was able to keep up. The rest of currencies meandered without a discernible bias as the market appeared to consolidate the strong gains on the back of the vigorous risk appetite wave in response to the positive vaccine news by Pfizer.

Macro risk appetite

In yesterday’s article, I argued that Pfizer type news can have serious repercussions on market trading psychology. The moment the market buys into the notion that the real solution is here, could be that inflection point.

The moment Pfizer shared the news with the world the other day, the market has shown a strong interest to bid up risky assets (AUD, NZD, CAD) and sell-off the ones considered the safest, such as Bonds, Gold, JPY, CHF. Besides, the outflows in the tech Nasdaq is another ‘telling’ sign of such a notion.

By announcing the news, Pfizer created a macro narrative which made the market gain confidence. And likely impacted global growth in 2021. The news that Pfizer announced, and most importantly, how the market reacted, resonates with my concept – the news created an environment with risk-friendly conditions.

G8 Forex indices – performance



There is no way around what price action portrays via the FX indices. It is the ultimate indicator of where we are at. Analysing the graph above, we can clearly identify a distinctive difference in performance.

On one hand, we have the currencies associated to risk-off conditions such as the USD, JPY, CHF, all firmly bearish as per the momentum measured via the SMT (Smart Money Tracker) indicator. Besides, the order flow has been decisively bearish as the OFA script depicts.

On the other hand, the AUD, NZD, GBP are the 3 currencies reigning in the Forex market at the moment. The CAD follows at a fair distance behind, while the EUR keeps treading water at an index level, even if the preponderance of technical evidence is overall bearish.


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, elaborates further on the logic behind the trade.


In this video analysis I dissect the hot trade of the day. A fully-fledged trading course, including lessons on how to trade this pattern, will soon be available via Global Prime Trading Academy website. While the video is intended as educational and not financial advice, it portrays the power of trading the pattern the right way.

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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. The indicator allows you to save time and avoid mistakes.

Important footnotes​


Market structure

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. Watch this video where I go through the layout and all elements of the Discord room in great detail.

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

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Messages
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Find my latest market thoughts

The Yen goes for a steady run​


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 Forex performance​



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 forex basket. Indicators are available to use these measures via Tradingview and MT4.

By reviewing the action last Friday, the British Pound emerged as the strongest currency. Interestingly, the bulk of the gains occurred in the pre-London session. Once the London boys came online, the currency ended up treading water and its performance.

The currency, most suppressed out of the G8 forex indices, included the US Dollar and portrayed a steady downward stepping dynamic. This bearish inertia picked up momentum from the instant Frankfurt flows kicked in, all the way to the final minutes in New York.

When it came to the Canadian Dollar, while the net daily effect was marginally less negative than in the US Dollar, the selling that arose out of the London session was very aggressive. After an initial push, it was a downward streak for the rest of the London session. The disparity in performance against the AUD was quite significant.

If you were focused on trading the London session where most of the Forex volume occurs, trading the Japanese Yen with a bullish bias would have become, hands down, the trade to exploit. The strong net gains in the Japanese currency were the most impressive, judging by the gains printed in the US equity space, which is rather unusual.

In fact, if we were to analyse the performance of the Australian Dollar to the Japanese Yen in the last 24h, it would have been quite rare to spot an equally bullish performance pattern. As a by-product of this matching performance, we ended up with a Doji type candle that communicated indecision in the AUD/JPY daily timeframe.

I also noticed the sluggish behaviour of the New Zealand currency. It had a very contrasting performance against the Aussie in the Asian session. By the end of the day in New York, the Aussie fared far better than its neighbouring currency, even though flows stabilised in London.

My last observation was that of the dynamics between the Euro and the Swiss Franc. Typically, both currencies are a mirror image of each other, unless we end up with true risk averse dynamics. These two currencies were far from exhibiting any momentum, offering lame prospects to be traded on an intraday basis.

Trading via Forex indices​

In this section, I provide insights into intraday currency trades via the G8 forex indices. The aim is to match the weakest vs the strongest. I apply the SMT indicator to measure multi-timeframe momentum alongside additional metrics. Due to popular demand, I am currently working on an extension of my course to add this strategy.

In the example below, I highlight a short trade that would have been available in the CAD/JPY. This opportunity came as a result of initially crosschecking the bearish outlook, at an index level, in the CAD index, while conversely, matching that against a strong JPY.
Through a vertical yellow line below, I outline the moment when both the CAD and the JPY offered a strong enough confluence to pull the trigger. This trade happened 2 hours into the New York session last Friday when both customers orders and liquidity were still elevated. All was perfectly in tune with the flows, as seen on Friday and described above.



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, watch this video. The indicator allows you to save time and avoid mistakes.


Trading via trap patterns​




To see an expanded version, right-click and select ‘open link in new tab’. The table above shows key metrics (momentum + structures) in different timeframes (4 hours and daily) to assist students of my TT course in selecting the best trending markets (link to the script). A video on the power of the SMT can be found here “How To Trade Forex Trends Like A Pro”. The video “Fractals + SMT Upgrade: The Multi-timeframe Functionality” is also a Must-Watch to fully grasp this style. A fully-fledged trading course about the TT (Trapped Traders) pattern will soon be available via Global Prime Trading Academy website.

There were no trades available as part of the trap pattern strategy last Friday. The 15-minute timeframe didn’t fire any signals as per the rules. The pullback seen in risk-off associated currencies such as the Japanese Yen or the Swiss Franc led to a major reduction in the congruence of trends through the 4 hour and daily timeframes as the table above shows. Heading into today’s London session, the weakness in the CAD was most noticeable, which made for some great trends in GBP/CAD or AUD/CAD. Watch these pairs!

Hot trade of the day​

In this section, I pick a market or several ones that either presented an opportunity based on the concepts I teach or alternatively I may also use this section to provide lessons. My video analysis below elaborates further on the logic behind the trade.

Economic indicators & events​




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, watch this video. The indicator allows you to save time and avoid mistakes.

Important footnotes​

Market structure

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 the idea of using what I call the smart money tracker. The settings and the indicator can be accessed via our Discord room, where traders from all walks of life interact frequently. In this video, I go through the layout and all elements of the Discord room in great detail.

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

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Messages
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Find my latest market thoughts

The oceanic currencies outperform in the forex market


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…


Performance of Forex indices​



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 forex basket. Indicators are available to use these measures via Tradingview and MT4.


We head into Tuesday with the revival of risk appetite conditions as clearly portrayed by the outperformance of the commodity-linked currencies complex. In order of strength, the Kiwi, the Aussie and the Canadian Dollar were the currencies delivering the strongest gains.

On the flip side, we had an almost analogous negative performance by the rest of currencies. The USD, Euro, Yen, Swissy and Pound, all fell at an index level, within 0.20% to 0.30%. This balanced decline resulted in only finding trends by matching the 3 strongest vs the 5 weakest.

This time around, the overall daily performance in Forex matched to perfection customers’ buy-side interest in risky currencies through the London session. When the EOD (End Of Day) percentage moves are roughly the same as the London-led fluctuations, the conviction in pushing certain currency trends should be quite high.

The revelation of more encouraging news about the success of a vaccine, this time by Moderna (94.3% effective in trial III phase), was the clear inflection point re-invigorating the ‘risk-on’ dynamics. The news followed similar results last week by Pfizer/BioNTech.


Trading via Forex indices​





To see an expanded version, right-click and select ‘open link in new tab’. In this section, I provide insights into intraday currency trades via the G8 forex indices. The aim is to match the weakest vs the strongest. I apply the SMT indicator to measure multi-timeframe momentum alongside additional metrics. Due to popular demand, I am working on an extension of my course to add this strategy.


As the New York session came online, within the first 30 minutes of the golden hour, there was a short-side opportunity to be exploited via the EUR/NZD. The power of monitoring my proprietary G8 FX indices template is that one can eye-ball the strongest vs the weakest currency combinations. In this case, notice in the first chart above the perfect alignment between a bearish Euro and a very bullish Kiwi.

Once this pattern is identified via the forex indices template, attention must be immediately shifted to the currency pair chart, in this case the EUR/NZD. Here we can see that based on the rules that I will lay out for all those taking up the second iteration of my course on currency indices trading, the conditions in terms of SMT confluences and other metrics were all on point. Ever since the short was triggered, the pair has traveled a maximum distance of 60 pips.


Trading via trap patterns​



To see an expanded version, right-click and select ‘open link in new tab’. The table above shows key metrics (momentum + structures) in different timeframes (4 hours and daily) to assist students of my TT course in selecting the best trending markets (link to the script). A video on the power of the SMT can be found here “How To Trade Forex Trends Like A Pro”. The video “Fractals + SMT Upgrade: The Multi-timeframe Functionality” is also a Must-Watch to fully grasp this style. A fully-fledged trading course about the TT (Trapped Traders) pattern will soon be available via Global Prime Trading Academy website.


The environment in the last 24 hours was more favourable in terms of trend trading dynamics – good news for those looking to capitalise on trap pattern setups. This was due to the flow imbalances we’ve seen in the commodity-linked currencies against the rest of the forex pack. What this means is that the environment is now more conducive to find trap pattern trades in line with the dominant trends. In fact, there was a fantastic opportunity to gain long-side exposure in the NZD/CHF as part of the trap pattern concept. Watch my video analysis below to learn more.




Hot trade of the day (video)​


In this section, I pick a market or several ones that either presented an opportunity based on the concepts I teach or alternatively I may also use this section to provide lessons. My video analysis below elaborates on the logic behind the trade.

Economic indicators & events​





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, watch this video. The indicator allows you to save time and avoid mistakes.

Important footnotes​


Market structure

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 the idea of using what I call the smart money tracker. The settings and the indicator can be accessed via our Discord room, where traders from all walks of life interact frequently. In this video, I go through the layout and all elements of the Discord room in great detail.

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

Back and forth in risk profile dynamics​

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…

Performance of Forex indices​



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 forex basket. Indicators are available to use these measures via Tradingview and MT4.

The optimism around the Moderna-led vaccine news has rapidly faded. The market started to behave more defensively judging by the performance of the Japanese Yen and the Swiss Franc. One may argue, that this behaviour may be due to the market focusing on the continuous resurgence of coronavirus cases, hospitalisations and deaths.

The concern is the Japanese Yen index topping the leaderboard for the day. That’s precisely what happened on Tuesday this week. This in mind, we should be expecting more vaccine headlines with “imminent” Oxford/AstraZeneca results. If recent history is any indication, the market tends to see a spike if the results are positive.

The British Pound also had a field day with buyers taking control on UK-EU trade hopes. As reports insinuated, both countries are finally in “landing zones” for a potential deal in the short-term. In fact, the Pound was the best performing currency in the last London session. On the contrary, the Aussie and the Canadian Dollar, were both suppressed by ending at the bottom of the performance table during the London session, as well as the total net losses for the day.

Trading via Forex indices​





To see an expanded version, right-click and select ‘open link in new tab’. In this section, I provide insights into intraday currency trades via the G8 forex indices. The aim is to match the weakest vs the strongest. I apply the SMT indicator to measure multi-timeframe momentum alongside additional metrics. Due to popular demand, I am working on an extension of my course to add this strategy.


At the open of the New York session, we had a phenomenal opportunity to short the AUD/JPY. This sell-side exposure in the Aussie against one of the strongest currencies for the day (as was the case of the Yen) was well spotted via the G8 Forex indices template.

To sum up, we had the SMT lining up outright bullish in the combination of 5m, 15m, 1h, 4h in the Yen, while the opposite was true when looking at the Aussie. When such contextual setting occurs, we know that this is a market that offers a potential solid trend, as I am matching the strongest vs the weakest currencies.

The next logical step was to shift to the 5pm currency pair with the strikingly bearish prospects. Knowing that the position was entered at a time when both, the JPY and AUD indices, had a sudden momentum change to the bullish and bearish side respectively, was the sign to pull the trigger.


Trading via trap patterns​



To see an expanded version, right-click and select ‘open link in new tab’. The table above shows key metrics (momentum + structures) in different timeframes (4 hours and daily) to assist students of my TT course in selecting the best trending markets (link to the script). A video on the power of the SMT can be found here “How To Trade Forex Trends Like A Pro”. The video “Fractals + SMT Upgrade: The Multi-timeframe Functionality” is also a Must-Watch to fully grasp this style. A fully-fledged trading course about the TT (Trapped Traders) pattern will soon be available via Global Prime Trading Academy website.


The failure to see further continuation of the ‘risk on’ moves has shaded the prospects for trending markets. Nonetheless, more than 10 currency pairs were still flashing full bullish or bearish alignment as per the measures of structure (via the FT) and the momentum (via the SMT).

There are still a bunch of USD-centric markets the likes of the GBP/USD, AUD/USD, NZD/USD, USD/CHF where these congruences in the directional biases through the analysis of the 4 hour and the daily timeframes still exist. As a result, these pairs still have my attention to be mostly looking for longs (shorts on USD/CHF).

Hot trade of the day​

In this section, I pick a market or several ones that either presented an opportunity based on the concepts I teach or alternatively I may also use this section to provide lessons. My video analysis below elaborates on the logic behind the trade.

Economic indicators & events​


Important footnotes​


Market structure

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 the idea of using what I call the smart money tracker. The settings and the indicator can be accessed via our Discord room, where traders from all walks of life interact frequently. In this video, I go through the layout and all elements of the Discord room in great detail.

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

Supply of Euros dominates proceedings


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…


Performance of forex indices​



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 forex basket. Indicators are available to use these measures via Tradingview and MT4.


The behavior of G8 forex indices is never free of ambiguity and uncertainty. If caught up in short-term moves alone, it tends to be random in nature. Analysis of the contextual setting and information advantage allows us to make more sense of the flows.

Even as I dissect the dynamics from an overall performance standpoint this week, it’s really hard to find well-defined trends. The currency market continues to be torn between the optimism of a vaccine and further lockdowns amid the resurgence of COVID-19 cases, hospitalisations and deaths.

The fact that we ended up with both the Kiwi and the Japanese Yen as the top performing currencies on Wednesday this week, reflected how entangled currencies performance can be. These movements somehow defy the logic by which markets favour one currency over another.

I want to highlight the last London session, where we did have a solid trend that picked up a steady momentum in the Euro. The currency saw the bulk of its losses ahead of the London fix only to peter out afterwards as volumes collapsed (this is usually the case).

Pay attention to today’s hot trade, where the Euro was an exception. It was cross checked against the Kiwi as a strong trend developed.

Trading via Forex indices​






To see an expanded version, right-click and select ‘open link in new tab’. In this section, I provide insights into intraday currency trades via the G8 forex indices. The aim is to match the weakest vs the strongest. I apply the SMT indicator to measure multi-timeframe momentum alongside additional metrics. Due to popular demand, I am working on an extension of my course to add this strategy.

I recognised that this entry was too aggressive. I didn’t take it. However, I did identify it via my proprietary forex indices template. I am referring to a short in the EUR/NZD right off the gates in the London session that has gone for over 100 pips. When an entry occurs without having tested the 13ema previously I am much more reserved on pulling the trigger. That’s exactly what happened in this short trade. It showed the type of trend one can catch when matching the weakest (EUR) vs the strongest (NZD).

Trading via trap patterns​



To see an expanded version, right-click and select ‘open link in new tab’. The table above shows key metrics (momentum + structures) in different timeframes (4 hours and daily) to assist students of my TT course in selecting the best trending markets (link to the script). A video on the power of the SMT can be found here “How To Trade Forex Trends Like A Pro”. The video “Fractals + SMT Upgrade: The Multi-timeframe Functionality” is also a Must-Watch to fully grasp this style. A fully-fledged trading course about the TT (Trapped Traders) pattern will soon be available via Global Prime Trading Academy website.

Even if the market fails to make up its mind in the near term, it doesn’t mean we don’t have congruence of momentum and structures to step back all the way to the 4h and the daily timeframes. In fact, we have more than 10 markets flashing either bullish or bearish concordance as per the directional bias most dominant. These are the markets where I tend to place most of my focus to find TT setups.


Hot trade of the day​

In this section, I pick a market or several ones that presented an opportunity based on the concepts I teach. My video analysis below elaborates on the logic behind the trade.


Economic indicators & events​


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. The indicator allows you to save time and avoid mistakes.


Important footnotes​


Market structure

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 the idea of using what I call the smart money tracker. The settings and the indicator can be accessed via our Discord room, where traders from all walks of life interact frequently. In this video, I go through the layout and all elements of the Discord room in great detail.

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

Dead quiet in the forex market​


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 forex market​

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 forex basket. Indicators are available to use these measures via Tradingview and MT4.


The first thing that comes to mind when analysing the currency space is how focused the market has become to the immediate future. In other words, short-term economic jitters due to stricter lockdowns in many parts of the world appear to be overriding any hopes for the longer-term vaccine-fuelled positivism and Trump’s presidential departure.

The underperformance of the Aussie, despite positive economic news in the form of an upbeat Australian jobs report, is a telling sign of precisely the narrative I am referring to. The market remains very cautious to commit capital into risky assets at a time when the surge in COVID-19 cases globally may see economies take another hard hit.

Very narrow ranges dominate​

Another observation that reflects the convoluted state of affairs in the forex market includes the narrow ranges. Even if the Aussie was the weakest on Thursday, the net gains in the rest of forex indices were so minuscule, that the extension of the AUD bear trends became largely limited when compared to normal dynamics. In fact, by matching the EUR (strongest) vs the AUD (weakest), the EUR/AUD only rose 60 pips for the day, which is way below the daily ATR.

This week has been unusually quiet in the forex market. It’s a major rarity to see the overall performance of currencies being encapsulated within excruciatingly narrow ranges of -/+ 0.10% through the London session. Remember, this session in the UK is characterised by being the most volatile for currencies given the amount of customers’ volumes. As traders we must remain patient and let the market come to us. This is one of those times when patience pays off.


Hot trade of the day​

In this section, I pick a market or several ones that presented an opportunity based on the concepts I teach. My video analysis below elaborates on the logic behind the trade.

Economic indicators & events​



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. The indicator allows you to save time and avoid mistakes.

Important footnotes​


Market structure

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 the idea of using what I call the smart money tracker. The settings and the indicator can be accessed via our Discord room, where traders from all walks of life interact frequently. In this video, I go through the layout and all elements of the Discord room in great detail.

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

Commodity-linked currencies main movers​

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 Forex market​


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 forex basket. Indicators are available to use these measures via Tradingview and MT4.


With volatility dramatically compressed in the last week, finding opportunities to trade in the Forex market has not been an easy task. Trading these tough conditions has been, first and foremost, an exercise of patience and sticking to one’s plan of engagement. Even if so, a fair number of trades were simply not getting out of second gear.

That said, with the right amount of concentration, and the right amount of tools in one’s trading arsenal, there is almost always a new setup around the corner. Last Friday was not an exception. While trading through the US session and using my proprietary trap pattern setup, there was a definite opportunity to short the Canadian Dollar.

CAD SHORT EXPOSURE​

The setup in the Canadian Dollar was best matched against the resurgence in US Dollar bids. Fundamentally, the long USD/CAD trade, was a typical purge of sellers’ accounts, only for these to be faded, and the market revert aggressively in the opposite direction. What’s more, the long trade was part of a rather counter-intuitive contextual setting, as it happened on the back of an upbeat Canadian retail sales report. However, new harsh lock-down measures in Toronto (Canada) eventually led to the reversal in the currency.

By stepping back to capture the overall performance from last Friday, the Oceanic currencies registered the most imbalances of flows. Long setups could have been found for momentum-type accounts in favour of both the Aussie and the Kiwi amid firmer risk conditions. However, by the time the London fix was over and liquidity shot to pieces, as it’s typically the case, the intraday rallies began to fade.

GLOBAL PMIS IN FOCUS​

Heading into this Monday’s London session, we should see a decent pick up in trading activity, especially in the European currencies. The catalysts to expect solid liquidity conditions can be found in the events due in the economic calendar. There are a number of global PMIs to be released. First, in the European Union and the United Kingdom, then in the United Stated. These figures will be key to watch in order to gauge how activity is holding up given the renewed spikes in the virus news and the subsequent re-imposition of restrictions.

Hot trade of the day​

In this section, I pick a market or several ones that presented an opportunity based on the concepts I teach. My video analysis below elaborates on the logic behind the trade.

Economic indicators & events​


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. The indicator allows you to save time and avoid mistakes.

Important footnotes​


Market structure

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 the idea of using what I call the smart money tracker. The settings and the indicator can be accessed via our Discord room, where traders from all walks of life interact frequently. In this video, I go through the layout and all elements of the Discord room in great detail.

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
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Find my latest market thoughts

Short Yens is the market to be in


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 forex market​


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 forex basket. Indicators are available to use these measures via Tradingview and MT4.


The currency exhibiting the most stable trend on Monday was the British Pound. It attracted buyers amid the positive soundbites that a Brexit trade deal with the EU looms near. On the opposing end of the performance board we find the Japanese Yen, sold off ahead of the London fix with no respite in the offered tone afterwards.

Impressive turnaround in the US DOLLAR​

The positive performance by the British currency was challenged by the re-resurgence in the US Dollar. The latter went through an impressive turnaround, as it transitioned from being the worst performing currency half way through the London session to drawing the most buying interest by the end of it. The service, manufacturing and composite PMI readings in the US all beat expectations and dollar buying became the trend to jump on.

RISK Dynamics from mix to improving​

When we see the Oceanic and the Japanese currencies perform equally poor for most of the London session, as was the case on Monday, it implies that the market was not driven by risk flows. Instead, it suggested that idiosyncratic drivers based on the fundamental merits of each market were at the epicentre of the value adjustments seen. The heavy economic calendar, as I pointed out in my update on Monday this week, was the main force determining the ebbs and flows.

However, by the time the London session came to an end, we saw a notable acceleration in the Yen selling flows, as risk appetite improved. This led to the JPY becoming the standout underperformer for the day. The main driver behind the resumption of the bearish trend in the Japanese Yen, one could argue, was further optimism that vaccines to fight off the global pandemic are coming…

MORE POSITIVE VACCINE NEWS aids stocks​

AstraZeneca became the last company to announce that its experimental vaccine, produced alongside Oxford University, had an average success rate of 70%. This success rate, however, goes up to 90% when administered following certain protocols (such as half a dose initially followed by a full dose the next month). Stocks in the US appear to have celebrated the news by rising modestly, with the Dow up 1.4%, the S&P 0.65% and NASDAQ 0.60%.

Besides, the companies’ claim that mass production and distribution can be achieved easier, and that it would come at a cheaper price, were certainty additional positive aspects to take into account. If that’s not enough, the company said that unlike previous experimental vaccines, the drug only needs be stored at standard refrigeration temperatures. AstraZeneca becomes the latest pharma company to apply to the WHO for an Emergency Use Authorisation.

Hot trade of the day​

In this section, I pick a market or several ones that presented an opportunity based on the concepts I teach. My video analysis below elaborates on the logic behind the trade.

Economic indicators & events​


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. The indicator allows you to save time and avoid mistakes.

Important footnotes​


Market structure

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 the idea of using what I call the smart money tracker. The settings and the indicator can be accessed via our Discord room, where traders from all walks of life interact frequently. In this video, I go through the layout and all elements of the Discord room in great detail.

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

Ideal trend trading conditions in forex​

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…


Forex trends return in style​

forex trends 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 Forex basket. Indicators are available to use these measures via Tradingview and MT4.


In today’s analysis of the Forex market, what caught my attention, was the follow-through continuation in risk appetite dynamics. To the point that the market is starting to morph into an environment that makes for some ideal conditions to trend trading. As I show in today’s video analysis, there is a growing number of markets, where the 4-hour and the daily time frames exhibit a clear congruence in the direction.

Granted, volatility has recently been shot to pieces, but it is undeniable that we are finally starting to see well-defined directional movements when cross-checking risk-off associated currencies (USD, JPY, CHF) against the risk-on type such as the AUD, NZD, CAD. One can also include into the mix the British Pound, even if the currency has its own idiosyncratic drivers to determine the ebbs and flows going forward.


Analysis of the forex trends​

In my video analysis below I use concepts such as momentum, market structures or order flow to come up with the daily outlook in the currency market.



Economic indicators & events​

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. The indicator allows you to save time and avoid mistakes.


Important footnotes​


Market structure

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 epicentre 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 the idea of using what I call the smart money tracker. The settings and the indicator can be accessed via our Discord room, where traders from all walks of life interact frequently. In this video, I go through the layout and all elements of the Discord room in great detail.

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

Matching strong vs weak currencies​

What immediately caught my attention in the last 24h of Forex trading activity was the contrasting performance of the British Pound against the Japanese Yen or the Swiss Franc. In order to understand the sell-side pressure that hit the British currency, one must be reminded of the high-stakes context the United Kingdom finds itself in.

Let’s get started…


Scan of the forex market​

forex trends 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 Forex basket. Indicators are available to use these measures via Tradingview and MT4.


What immediately caught my attention in the last 24 hours of Forex trading activity, was the contrasting performance of the British Pound against the Japanese Yen. In order to understand the sell-side pressure that hit the British currency, one must be reminded of the high-stakes context the United Kingdom finds itself in as part of the Brexit trade negotiations.

These talks between the EU and UK representatives are going down to the wire. The latest information suggests that the EU is ready to threaten the United Kingdom by pulling out of Brexit talks if the latter refuses to compromise. Michel Barnier, the Chief Brexit negotiator, said that further negotiations would be pointless if the UK does not change its hard-line stance in certain areas.

With the above in mind, and taking into account Thanksgiving in the US, chances are that most of the action to find opportunities will be concentrated in the London session. Case in point, as the video below demonstrates, there is a short setup in the GBP/JPY right ahead of the London open via my proprietary currency strength micro-mechanics technique.


Hot trade of the day​

In this section, I pick a market or several ones that presented an opportunity based on the concepts I teach. My video analysis below elaborates on the logic behind the trade.

Economic indicators & events​

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. The indicator allows you to save time and avoid mistakes.


Important footnotes​


Market structure

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 epicentre 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 the idea of using what I call the smart money tracker. The settings and the indicator can be accessed via our Discord room, where traders from all walks of life interact frequently. In this video, I go through the layout and all elements of the Discord room in great detail.

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.
 
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