Make Trading SIMPLE Again. PURELY TECHNICAL TRADING w/ Swaggy C (Ep. 2)
TLDRThe video outlines technical analysis for the coming week in the forex market. It discusses pending trades and price targets for gold, Euro/Yen, Aussie/USD, and USD/Yen pairs. There is a bearish bias on gold and Euro with targets below current levels. Aussie and USD/Yen have bullish potential. The trader explains chart patterns and trendlines directing his analysis. He highlights the importance of letting trades progress with wide stops to maximize reward potential. The video promotes a forex trading community providing education, signals and mentorship.
Takeaways
- 😀 Has made money trading this week already
- 👍 Staying consistent with technical analysis video series
- 📈 Using pending orders to plan for potential moves in gold
- 😎 Attending WWE Royal Rumble event this weekend
- 👎 Bearish on gold, bullish on US dollar
- 👍 EU crashed last week as expected to 108
- 🔼 Believes yen will continue to weaken
- 📈 Has pending order set up for UJ
- 💪 Growing small account through various brokers
- ✅ Hasn't lost a trade yet in 365 program this month
Q & A
What is the overall market outlook for the upcoming week?
-The speaker believes next week will be a great week for trading. He thinks the US dollar will strengthen, causing the Japanese yen to weaken. He is bullish on the dollar and bearish on the yen.
What pending trades does the speaker currently have open?
-The speaker has pending sell orders on gold at around $2048 in case gold rallies up to that level. He also has pending sell orders on EUR/JPY at 159 and USD/JPY at 149.6.
What price levels is the speaker targeting for gold?
-If gold hits the speaker's pending order around $2048, he is targeting price levels around $2035, $2017, $2000, and finally $1987.
Where is the speaker traveling to and why?
-The speaker is traveling to Tampa, Florida to attend the WWE Royal Rumble event. He mentions not having much time to record videos over the next few days due to traveling.
What trading services does the speaker offer?
-The speaker runs a service called "365" where he provides daily trading guidance, webinars, and study sessions. He also talks about growing small accounts on various broker platforms.
What price range has EUR/USD been trading in?
-EUR/USD has been trading between 110 and 105 since December 2022, a range spanning about 14 months.
What pattern does the speaker see forming on EUR/USD?
-The speaker sees a potential head and shoulders pattern forming on EUR/USD, with the pair rallying up to form the head before crashing back down.
Why is the speaker not trading GBP/JPY currently?
-GBP/JPY is currently in a large consolidation area that the speaker doesn't like, so he is avoiding trading it until more defined price action develops.
Where could USD/JPY potentially rally to?
-Based on technicals, the speaker sees USD/JPY rallying as high as 149.6 in the short term.
What brokerage platforms does the speaker use?
-The speaker mentions trading and growing small accounts with 24K Markets, Forex.com, and Funded Next.
Outlines
😊 Introducing Technical Analysis for the Upcoming Week
The speaker says he will provide technical analysis for the upcoming week as promised. He is recording the video early before leaving for a WWE event. He discusses pending orders and price targets for gold, believing it may initially rise to 2049 before dropping to 1987. He explains scenarios for scaling in at different price levels.
😀 Explaining Short-Term Bearish Views on Japanese Yen
The speaker elaborates on his bearish views for the Japanese yen futures market. He believes the EJ and UJ pairs may see further declines to 160 and 149.6 respectively before bouncing. He discusses ideal entry, stop loss and take profit levels for potential short positions.
😎 Predicting Eventual New Highs for GJ Despite Current Consolidation
The speaker notes GJ is currently consolidating so he will not trade it. However, he believes long-term it can reach new highs around 195. For now it may decline slightly then rise into a nearby resistance zone. He is overall bullish on GJ due to yen weakness.
Mindmap
Keywords
💡Technicals
💡Fibonacci
💡Trend line
💡Pending order
💡Consolidation
💡Scalping
💡365
💡Snowball effect
💡Forex
💡Bearish
Highlights
Recording early to outline technicals for the week ahead before traveling to WWE Royal Rumble event
Haven't lost a trade in January, already profitable this week with EU and gold trades
Pending order on gold in case it breaks above trendline, but expects swift rejection back down
Bearish on gold, bullish on dollar; targeting gold price of $1987
Expects EJ to reach 160 then head lower; looking to short around 159
Sees GA rallying to 195 to complete Fibonacci structure before dropping
Not trading GJ due to current consolidation, expects move up or down soon
EU crashed as expected, may retest highs before heading back down below 108
UJ pending order about to hit, targets 149.6 based on trendline
Very bullish on next week being great for trading
Haven't lost any 365 trades yet, growing small account steadily
Still have webinars and study sessions planned while traveling
Yen looking very bearish and weak
Dollar expected to pull up next week
Next week last week of January, heading into big month for 365 account
Transcripts
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