Alpesh Patel: Trading Tips from the Worlds Leading Traders and Hedge Fund Managers
Presentation from the June, 2020 Smart Traders Bootcamp.
Market Update – Finally a USD Turn?!
The ‘about face’ in USD action today strongly suggests that we’re on the right track insofar as being near term USD bulls. Regarding EURUSD specifically, the 5 wave rally from the 4/24 low is ‘textbook’ so expectations are for at least a corrective pullback. The year open at 1.1260 along with parallels just below are likely initial support for a bounce.
AUDUSD Big Top Warning
Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.
Market Update – July 16
EURUSD traded 1.1452 today before reversing and closing near the low of the day. The high is right on the upper parallel of the channel from the March low. The line off of the September 2018 and March highs also reinforces the area as resistance. I’m of the mind that today was a high and now wish to trade from the short side. ECB is tomorrow. I’ll wait until that’s out of the way before determining entry.
Market Update – July 15
British Pound futures pulled back to VWAPs off of the June high and low. The level is also the 200 period average on the 4 hour chart (spot is below) and more or less the breakout level from the short term head and shoulders bottom. I like GBPUSD higher as long as price is above today’s low. Near term support and resistance levels are 1.2510 and 1.2618.
Gold Consolidates Amid Rising COVID-19 Cases, China/US Tensions
Gold hovered around the key psychological level of 1,800 in early trading on Tuesday as global coronavirus cases continue to soar and Sino-US disharmony escalated over China’s pursuit of offshore resources in the South China Sea.
Market Update – July 14
Copper nearly took out the 2019 high today before reversing lower. The reversal also occurred after price spiked above the trendline from 2011. High today is also on the upper parallel of the channel from the March low. The reaction from massive overhead resistance strongly suggests that a high of importance is in place. Pay attention to the parallels within the channel from the March low (see below). The center line is near 2.84 and the lower parallel is near 2.71.
AUDUSD Bearish Opportunity
Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.
Safe Havens Lifted Amid COVID-19 Fears
The US dollar and other safe haven assets were supported in early trading on Friday amid concerns over the spread of the conoravirus pandemic and a slower than expected economic recovery.