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Weekly Watchlist | December 24 to 28

December 23, 2018

This trading week is obviously weak in terms of economic data but volume will remain (at-least I believe so). 

 

My review of the markets this Sunday is showing me plenty of excellent trade ideas and I will be active every day of the week... a little less than as usual but I'll still be here... scouting for trade ideas :)

 

I will only list the most essential information in this post and a few trade ideas, the rest will be released in my trading room, if you haven't joined yet you can take advantage of the holiday discount we have (30% OFF) and get the full benefit of the PipsMatter trading community.

 

Do keep in mind that I have a free section in which I provide trades, feedback and even education, so if you are strapped for cash or want to test me out further, then take that path.

 

Anyway, lets get going!

 

Ok, let me start with the overall picture of the daily chart on Forex and Gold. 

 

From my comprehensive review of the weekly chart I find plenty of signs of a stronger USD this week, below you will see why using technical analysis. 

 

Before I move into the charts, I need to emphasize the important of Brexit and the US-China trade war, do not believe for a second that because it is the holiday season that no news of these two aggressive market moving matters will not come out, I strong expect something to happen on at least one of the two matters. This is why we must be extra careful during this holiday season. 

 

The US Government did partially shutdown over the Trump border wall since an agreement was not met, but that should not have a big impact on the market (if it has any)

 

Ok, so we are done with the news... not much happening there... but the charts are alive! Let me start with the weekly then I'll do the daily. 

 

EURUSD WEEKLY CHART

 

 So, the weekl chart gives us the current trading range, and it's telling us that EURUSD is preparing for a bullish breakout... but that's going to come later... not in the very near future... so the daily and the 4H will give us plenty of buying and selling trades until we ride the bigger breakout on the EURUSD. 

 

You can see that the 13 week EMA is staying intact and price action can't close above it yet. 

 

EURUSD DAILY CHART

 

 

On the daily chart the indications would normally be bullish as price action is testing the 13 day EMA and the pair is expected to open slightly higher (3pips at the time of writing). 

 

The biggest problem I find at this moment is that the weekly chart is showing a stronger USD but the daily chart is showing a weaker USD... this is the direct reason why I will not be trading USD pairs until I get a clearer picture of what is happening with the Dollar.

 

I feel bad that I cannot give more input but since my philosophy is to "trade the best and learn the rest" I will be passing on any FX trade ideas until tomorrow when I wake up at about 5am (GMT+2). 

 

I do have a pretty good trade setup to share with you tonight tough... it is on WTI. The black gold is preparing for a stronger move and I've been waiting for it, normally this pattern indicates a bullish pullback but I have seen it fail enough times to know that no pattern is a 100% sure thing... so if you want to learn to trade like me join my trading room, it will be the best decision you make this year!

 

WTI WEEKLY CHART

Click on the image to enlarge it. 

 

This is a strong bearish contraction and you can see it work in full force on the daily chart too... so here both the weekly and the daily agree that a pullback should be coming and I believe that 49.00 or even 50.00 can be achieved pretty quickly!

 

If you take a closer look at WTI's trading history you will see this pattern work out with big and aggressive moves... I am already long on this since Friday... I do have a definite exit area and I am ready to reverse my trading idea. 

 

If you want to learn to trade like me and the guys in my brommunity then make sure you join at-least the free trading room.

 

I can't add much more Intel in this... my daily watch-list (released in the trading room for free) will host much more information. - I trust I'll see you there!

 

I will release a few pretty cool videos this week so make sure you subscribe to my webiste (bottom of front page)

 

If I don't get to speak to you again before Christmas or New Years I want to take a quick minute and wish you and your loved ones all the best in terms of health, happiness, wealth and wisdom! May you have a fantastic new year and enjoy every minute of the holodays! - I know I will!

 

Sending love from Cyprus!

 

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