FOREX TRADING STRATEGIES
Good Morning Platinum Traders,
While the uncertainty continues in the markets, some key analysts are calling to buy back in GBP and sell the Euro, as they believe the risk of an EU collapse is next on the menu according to their forex trading strategies. On the other hand, Brexit leavers are calling for a new referendum and the votes have now crossed 3,733,834 and are hoping to top 5 millionby the end of this week. It doesn’t help that the winning camp is now backing down on the promises they made during their campaigns. People are furious. I could carry on writing about the likes of Nigel Farage and their false promises broken in just one day. Jeremy Cobyn is also struggling to keep the shadow ministry alive. Evidently, the markets will at some point correct themselves. But with too many questions still remaining unanswered, the correction could take its time.
I have spent a lot of time over the last 3 months talking to traders that have been in the markets for well over 15 years including my own CEO who has given me his view. I really wish we could have done a multiple number of podcasts as you would have thoroughly enjoyed these meaningful conversations. First of all, I am not into scaremongering which is what we find in most of the articles represented today on social media. Let’s talk about the reality of our personal situation. We are traders and that too fundamental traders in the first instance. In the short term, is BREXIT going to affect your bank account and job? Absolutely Not! So, please do not worry or stress, you are all going to be fine.
Now that I have given you a small snippet of my thoughts on all the prevailing market conditions. Let me give you my view as a Proficient Financial Trader.
Remember when big events like that of the size of BREXIT happen, even if we might think the world is going to end. As Financial Traders,
- We traded through the 2008 crash
- We traded through the YEN interventions
- We traded through the DOT COM crash
STOP THINKING AS IF YOU ARE IN ANY TROUBLE! We will make it through BREXIT Profitably
Let’s take a step back, we are traders and our job is to assess the situation and market conditions and try to spot profitable opportunities.
When the volatile currencies seem to get very hard to trade or you are unable to trade them due to uncertainty in the markets, we should move our focus towards safe haven or commodity dependent currencies.
So let’s forget about Sterling for a minute, let’s focus on GOLD, SILVER, CANADIAN DOLLAR AND SWISS FRANC. If they can make us 3000 PIPS by the end of the year. WHY SHOULD WE WORRY?
Today, I will post a beautifully prepared trade for you on Gold and my expectations on where Gold will be going in the coming months. Remember we called Gold on LinkedIn earlier this year and made close to 1500 points. Now it is round 2 – Nisha vs Gold! For the rest of the pairs please fill out a free consultation form and I will try and arrange a trading session for you.
WHY TRADE GOLD?
Gold is better known as the fear trade and is more than likely to remain in place for the coming months. The reason is quite simple, there is a lot of political instability in the world right now and with the UK’s historic and market-rattling decision to exit from the European Union, this just adds to the fire. At Platinum, after talks with our trading team, we believe investors are buying Gold as an insurance asset, a hedge against tail-risks and spikes in volatility that seem increasingly likely against the backdrop of geopolitical tensions and anti-establishment sentiments in the political arena. So this is the main reason to trade Gold over the next 6 months. We also believe that the yen could go and settle past the 100.00 over the coming months. As you should all know both Gold and the Yen have a total inverse relationship. So I hope that this solidifies my fundamental view on buying gold in the current market conditions
- Gold has broken and closed above the $1300 mark
- Resistance has been broken and the rule is once resistance has been broken, it now becomes support
- We are looking to take a break out – Pull back and continuation trade
- We have a clear bull trend intact which supports our trade from a bullish view since December 2015
- We have a clear secondary bull trend line which is developing with 2 clear touches of support
- we are taking the entry on the 38.2 % retracement which is considered the stop hunt value by Fib Law
- We have a perfect stop loss for the trade and the risk reward is spot on.
Here is the technical chart
Here are the technical trades
- Long Gold @ $1293 with a stop @ $1276 and a target of $1363
- Long Gold @ $1252 with a stop @ $1235 and a target of $1363
How do we trade the next 6 months?
JULY: We have low liquidity, even though the markets may seem ferocious when it comes to Brexit. There are two major successful forex trading strategies to use in this month
- Strategy Number 1: End of day strategy
- Strategy Number 2: Extreme zone strategy
- Strategy Number 3: Trading the trap zones
Pairs to be traded Swiss Franc, Gold, Canadian Dollar & Aussie dollar.
Would you like to learn how to trade the rest of the months through forex trading strategies and make 2000 Pips JUST based on seasonal analysis?
Have a beautiful day and an even wonderful week!
Live from the Platinum Trading Floor
The information you’ll find in this article is to educate you. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgment and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.