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Mini Charts
Video: This is Where To Capitalise on Weak GBP and Strong USD This Week
Dima MihailovichSeptember 24, 20231 Mins read Analysis of the high probability opportunities for this week in Forex, Indices & Commodities.
Click on the video to watch the full breakdown
I hate to sound like a broken record, but…
Many of the charts this week will look similar to last week’s. Why? Because we’re still trending on the markets we’ve been monitoring.
USD is still strong.
GBP is still weak.
JPY is still weak.
So all markets related to these should, according to usual market principles, have a higher probability of trending.
Mark them up and see whether your charts agree. You should see similar things playing out over the last few weeks.
Sound boring? It should be. Boring works. Boring is good in trading. Aim for that.
Along with the major pairs, this week we’re adding GBP/NZD and SP500, because of their bearish moves last week. Looking for continuations into the next most logical levels.
The least clear charts, and the ones that will require more patience and price action to unfold, are Gold and EUR/CAD. That’s mainly down to (as above) the Weekly chart, which right now is more indecisive the others. We always give more weight to the higher timeframes as they provide the bias. “Higher Timeframe is King” – as they say.
Word of the day (and actually the week, and the month) is: Consistency. Consistency in doing the same thing over and over. Consistency in thinking in probabilities. Consistency in analysing the market the same way without diverging from the method, even if some of your analysis doesn’t play out. It has served us well so far in breaking down the charts.
In this video we go over these opportunities for the week:
- GBP/USD
- EUR/CAD
- USD/JPY
- CAD/JPY
- GBP/NZD
- EUR/GBP
- SP500
- Gold
Written by: Dima Mihailovich, Technical Analyst for Forex Prop News
Contact and follow Dima on Twitter: @dimafpn
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Dima,
Thanks for this post. There is an irony here…You trade very much like I do. I set 1 to 3 pending orders between the current price and the Invalidation Point (Stoploss) within the zones, since I set this up ahead of time I figure out the exact loss for the volume I place. The irony is that a couple days Fidelcrest told me that they consider what I do a grid/martingale, so I didn’t open an account with them.
Thanks, I appreciate review.
S