Weekly Forex Forecast (06/12/21) EurUsd / XauUsd + Forex Trading Plan! [HD]

hey traders it's john fortune here with this  week's weekly forex forecast i hope you're   having a fantastic weekend before we start just  a quick update the free gmt course is coming   back online from monday and you will be able to  access the full course directly through youtube   alongside that we have two new completely free  services for you all i get a lot of questions   about platform providers and now for the first  time if you need assistance looking for a platform   provider switching your platform or if you want  to just see if you're getting the best spreads   you can talk completely free to an  industry expert at our website now   our team have a huge amount of experience in the  industry and they're now available to provide   free assistance to anybody who has questions about  platform providers so you can now speak directly   to a real person with experience to get the help  you need and finally you can also sign up now for   free for our free market alerts report which goes  out from next monday where we will alert all of   our subscribers to a number of important market  moving catalysts such as insider buying insider   selling big misses or beats on earnings reports  upgrades and downgrades from rating agencies etc   so feel free to head over to the gmt website if  you'd like more information on those completely   free new services so with that said let's get into  today's video we're going to kick off as we always   do by having a quick review of key events heading  into next week and also the following week we are   coming up to a number of interest rate decisions  over the next two weeks so we really need to pay   attention to these events especially in terms  of managing our risk over the next two weeks   we're then going to look at the relative currency  analysis we're going to look at the scores for   the currencies heading into next week we're going  to do our individual currency analysis looking at   the futures markets of the individual currencies  before moving on as we always do to the currency   pairs themselves highlighting the best plays in  the markets next week and then we will finish   as we always do by looking at stocks gold silver  and bitcoin so let's have a look at the economic   calendar heading into next week the first piece of  important data we had non-farm payroll data coming   out last week we're not looking at it just purely  because going forwards doesn't help us too much   going into next week but we do have an interest  rate decision coming out of australia on tuesday   so the australian pairs are unlikely to move much  between now and tuesday and i will personally be   looking to trade the australian pairs from tuesday  onwards as interest rate decision trade so we'll   discuss that more when we go through the actual  charts the next thing to pay attention to is the   canadian interest rate decision on wednesday  so again canadian pair is unlikely to move   between now and wednesday and i'll be looking at  trading any canadian dollar pairs from wednesday   onwards next week and apart from that you can  see we have some inflation data on friday not   something we really need to plan for if i go  ahead an additional week however you can see the   following week we do have interest rate decision  out of the us we have fomc on wednesday the 15th   and we also have an interest rate decision on the  thursday out of switzerland and also out of the uk   so with all of these interest rate decisions  coming up in the next two weeks we really   need to play this carefully i would say  after the run we've had we've had a fantastic   five six seven weeks of really good market moves i  would personally be looking to reduce my exposure   in forex over the next two weeks i will be looking  to trade but i'll probably take slightly less risk   trade slightly less pairs and look for the best  setups over the next two weeks because the markets   are likely to get volatile with these upcoming  interest rate decisions once these two weeks   have passed they will likely set the direction  for the month afterwards so that's when it would   be a good idea after the interest rate decisions  start to take more risk in the forex markets so to   summarize australian pairs really from tuesday  onwards next week is what i'll be looking at   canadian pairs from wednesday onwards  next week is what i'll be looking at   and bear in mind we have federal reserve fomc the  following week which means over the next week or   two we could see the markets kind of flat and  then get very volatile which just simply means   it's going to be a good idea not to take too much  risk in forex and just really pick out the best   pairs over the next two weeks okay so let's have  a look at the scorecards going into this week   and last week we had a really good week getting  ahead of those nice moves in the new zealand pairs   highlighted last week new zealand was the weakest  currency the best short and we had the swiss franc   and the us dollar as the two best long positions  and NZDCHF to the downside NZDUSD to the downside   these were great trades last week coming into this  week you can see that the swiss franc has actually   extended its lead at the top as the best buy and  the japanese yen has also increased by one point   the us dollar is the third strongest currency  and although we haven't changed since last week   you can see exactly as discussed last week we  have a deflationary style scenario setting up   being shown by the forex markets we have all of  the risk-off currencies congregating near the top   and down the bottom we have the most exposed  currencies to the us dollar which is the commodity   currencies new zealand australia and also the euro  so the forex complex is pointing towards deflation   once again this week and what this is showing  us is in fact a lot of the pairs we looked at   last week are once again going to be good pairs  to look at this week and look to trade so what   we're looking at here again would be NZDCHF to the  downside i'd be very interested in NZDJPY to the   downside again this week NZDUSD to the downside  the australian pairs AUDCHF AUDJPY AUDUSD to   the downside we have that interest rate decision  on tuesday so they will be from tuesday onwards   and also the euro pairs so again you're a frank to  the downside you're a yen to the downside you're   a dollar to the downside these are going to be  some of the best players heading into next week   interestingly we can see the canadian dollar and  the pound are completely flat going into this   week i prefer to look for the strong versus  the weak currencies as anybody who follows   these videos will know that's where we get the  best moves but we can also look towards say new   zealand cad aussie cad because of the weakness  of those currencies going into this week as well   but any canadian pairs as i said would be  from wednesday onwards after that interest   rate decision next week so the scoring system  in summary really pointing us back towards the   currency pairs that performed so well for us  last week okay so let's look at the individual   currencies and the reason we do this individual  analysis is so we can look in more detail   at the currencies themselves for example if  you take the canadian dollar just very quickly   you can see that although it's relatively  neutral compared to other currencies   it's actually quite bearish and this tells us if  we want to start comparing the canadian dollar   to either the strong currencies or the weak  currencies we'd probably be better off trading   the canadian dollar against the strong currencies  like the swiss franc like the end like us dollar   because on an individual basis it's actually  fairly weak so let's just start with the dxy   you can see the dxy technicals are confirming  what the relative analysis is showing us which   is the dxy is quite strong and this pullback  here is currently just viewed as a correction   in a bigger ball flag looking further advances to  the 9744 so dxy currently technically quite strong   if we look at the euro we just have the inverse  of what we've looked at in the dxy you can see we   had this big momentum sell-off and now we're just  correcting really no strong moves to the upside   this looks corrective so any continued pullback  in the euro is viewed as an opportunity to look   further declines down to the 1.11490 so euro quite  bearish going into next week technically as well   with the pounds now the pound is an interesting  one because we came very close to the target   set last week at the 1.3180 and you can  see the pound is bearish when we look   at this individually yes when we look at  the relative analysis it's kind of neutral   but individually this is quite weak so if i am  looking to trade the pound pairs i would prefer   let's say GBPUSD to the downside GBPCHF to the  downside GBPJPY to the downside next week than   maybe GBPAUD to the upside or GBPNZD to the upside  so relatively neutral but individually quite weak   is the pound the swiss franc the swiss franc  took out the target set to the upside last week   and the swiss franc was highlighted as a  currency to look for strength last week   and if you were looking at those NZDCHF to the  downside opportunities AUDCHF to the downside   you got paid nicely last week so heading into this  week what i'd be looking for in the swiss franc is   any pullback in this market would be viewed as an  opportunity to look for a potential right shoulder   for further advances into the 1.1014 i do like  the swiss franc technically next week and this   is really confirming what we looked at in the  relative analysis let's have a quick look at   the japanese yen the japanese yen was highlighted  as a market to look for further advances last week   and we did get further advances again japanese  yen strength plays were good plays last week   any pullback in this market i will be looking  for a potential right shoulder here to form   and any pullback will be viewed as an opportunity  to look further advances into the 0.008911  

and if we can break through here on to target 2 at  the 0.009027 the canadian dollar very similar to   the pound this is relatively neutral going into  next week when we compare all of the different   currencies however it's also like the pound quite  bearish individually so i would prefer looking at   this chart to trade CADCHF to the downside  CADJPY to the downside USDCAD to the upside   than to trade say AUDCAD or NZDCAD i would prefer  those strong currencies versus the canadian dollar   next week we did take out the target set at the  0.78095 just bear in mind we have the interest   rate decision out of canada on wednesday so that  will really dictate the moves in the canadian   dollar pairs australian dollar ever since we  failed on the inverse head and shoulders up here   i have been highlighting the fact that the aussie  is set for further declines and i've really been   pounding the table on this to say the aussie  weakness set up is one of the things you want   to pay attention to over the last few weeks and  if you've been looking at aussie shorts you got   paid very nicely on this we still have iron  ore lagging to the downside here dragging the   australian dollar down and for those of you who  have been following the rba statements in terms   of what to expect next week the rba have been  pretty consistent with their monetary policy they   are saying that interest rates in australia will  need to be kept low for an extended period of time   so the australian dollar took out both targets  to the downside last week and going into this   week look at the momentum in the australian dollar  any pullback in this market should be viewed as an   opportunity for further declines and the next big  opportunity in the aussie pairs to make money so   continue to look out for those aussie shorts as  this momentum is suggesting further declines in   the australian dollar and finally the new zealand  dollar the new zealand dollar very similar setup   to what we looked at in the australian dollar the  failed inverse head and shoulders and then the   capitulation this was highlighted as the weakest  currency last week and the best short it performed   fantastic to the downside against the other  currencies we came very close to the target set so   once again any pullback in this market is viewed  as an opportunity to look further declined into   the target set here at 0.67 260 and then on to the  0.66570 so very interested in new zealand shorts   once again okay so dropping down to the four-hour  charts let's go through the currency pairs and   look at the markets which look to be setting up as  the best players next week NZDCHF was the number   one currency pair highlighted to the downside last  week we did take out the target at 0.62490 you   can see this is a green target look at the next  target green the following target green these are   all high conviction targets so when i look at this  and i see that the new zealand is the weakest the   frank is the strongest and on this currency pair  there are high conviction targets to the downside   this pair absolutely once again is the pair the  primary pair i'll be keeping my eye on next week   and looking to take a position in so any pullback  in this market you can see we kind of have a   little bit of a descending triangle breakout  here any pullback in this market next week is   simply viewed as an opportunity to look for short  positions down to the next care of support to the   downside the target set the zero point six one  forty and so for the second week in a row here i   think the NZDCHF is setting up as the most likely  currency pair next week to pay you to the downside   next is NZDJPY last week highlighted the downside  a high conviction target the 76.40 these targets  

were one of the things that made the new zealand  pair so attractive last week and one of the prime   reasons i was putting these near the top not just  because the new zealand's the weakest but because   we had these high conviction targets and again we  took out the target last week in NZDJPY going into   this week you can see near term we're starting  to break out of this again a little bit of a   descending triangle type pattern either way it  doesn't really matter any pullback in this market   is simply viewed next week as another opportunity  to look for bearish reversals down towards the   next key of support to the downside and a high  conviction target in the 74.79 next is NZDUSD   NZDUSD has made its way towards the target set  at the 0.6725 from last week so we're coming   very close to this and i expect this to be taken  out next week for anybody not involved from last   week if we come down further and take out this  target set any bounce from here any profit taken   any pullback will be viewed as an opportunity to  look once again for bearish setups down towards   the next key of support to the downside of the  target set at the 0.65 and the final new zealand   pair here is NZDCAD now just remember that when  we looked at the individual currency analysis the   cad was individually selling off and weak and the  new zealand was individually selling off a week so   when it comes to the cad pairs i personally would  prefer CADCHF let's say USDCAD CADJPY which are   cad weak setups however i think it's worth putting  these on the watch list next week in case we get   a hawkish or bullish surprise out of the interest  rate decision from canada next wednesday so having   NZDCAD AUDCAD in the watch list this week allows  us to potentially play that interest rate decision   both ways so coming into next week if we start to  correct into wednesday and then we get a sell-off   in NZDCAD because we have a hawkish surprise out  of the boc on wednesday any pullback after that   interest rate decision sell-off in this market  would be viewed as an opportunity to look for   further declines down to the 0.8596 so NZDCAD goes  down on my watch list next week as a potential   bullish surprise out of the boc on wednesday if we  start to see weakness out of the canadian dollar   after the interest rate season on wednesday i  would leave new NZDCAD completely next week next   is the aussie pairs so the first thing to note  is because we have an interest rate decision   out of australia next week the new zealand pairs  absolutely look like the best pairs to focus on   in terms of primary setups next week but if  we start by looking at AUDCHF you can see   AUDCHF did come down and take out the target set  in last week's video this was a market highlighted   to the downside and we are now approaching the  next key of support to the downside again look   at the momentum in this market markets do not  tend to just v bottom so any pullback next week   into the interest rate decision and what i'll  be looking for on tuesday is any pullback and a   bearish sell-off so we start to form this kind  of a move any sell-off after the interest rate   decision will be viewed as an opportunity to start  to look for further declines down to the next key   supports downside the target set the 0.6372 next  is AUDJPY AUDJPY was a market highlighted to the   downside and we absolutely came down took out  the target almost to the point that was the   low of the week in AUDJPY last week nice momentum  coming into this market once again so any pullback   is going to be viewed next week as  an opportunity to look for bearish   reversals and if we start to pull back and  then on tuesday we get to sell off like this   look for continued follow through down towards  the next key of sports the downside the target set   at the 77.57 next is AUDUSD, AUDUSD came down last  week and took out the target set at the 0.7011  

so a really nice move in AUDUSD to the  downside last week any pullback into the   interest rate decision next week will be viewed  as an opportunity to look for bearish reversals   and if we start sell-off in the direction of this  trend to the downside from tuesday any pullback   after that will be viewed as an opportunity  to look further declines into the 0.6933   so the first three aussie pairs will really be  based on a bearish outcome from the interest   rate decision on tuesday and finally we have  AUDCAD, AUDCAD again allows us to potentially   play this interest rate decision on tuesday both  ways we have come down very close to the next kia   support to the downside and look at the momentum  from this previous consolidation here really nice   momentum to the downside so any pullback in this  market next week will be viewed as an opportunity   to further declines down to next key of support at  the zero point eight nine seventy and then on to   the next key of support to the downside the zero  point eight eight eight eight now i have added   this market in because of the technicals because  of the momentum to the downside here but just bear   in mind this is a market which has two interest  rate decisions coming out next week so really i   would want to wait for both the australian and  canadian interest rate decision to come out   before looking to take positions in AUDCAD so i  absolutely think there are better markets trade   next week instead of AUDCAD such as NZDCHF, NZDJY  moving on to the euro pairs now we don't have the   interest rate decision problem in the euro pairs  like we do with the aussie last week EURCHF was   highlighted as a market to the downside we did  come down took out the target set going into this   week any pullback in this market is simply viewed  as another opportunity to look for bearish setups   down to the next kiev supports the downside of  the target set at the 1.0312 next is EURUSD now   EURUSD really didn't go anywhere last week we've  just been correcting but this correction is just   viewed as a selling opportunity an opportunity  to look for bearish reversals so any continued   pullback in this market next week and i do  quite like euro dollar going into next week now   especially with the australian pairs having that  interest rate decision but any pullback will   be viewed as an opportunity to look for bearish  reversals i'm going to be looking down towards the   next care support to the downside target set the  1.1146 and the final euro pair is EURJPY, EURJPY  

came very close to achieving the target set last  week at the 127.31 so going into this week i would   be looking for this target now to be achieved  any pullback in this market say we take out   this target next week and we start to correct any  pullback is viewed as an opportunity to look for   bearish reversals down towards the second target  set from last week the 126.410 moving on to the   canadian dollar pairs and first of all let's  have a look at crude oil crude oil was a market   highlighted to the downside last week and you  can see we came down and we took out the targets   at the 6548 and that was pretty much the move  there in crude oil so two things to note going   into next week with crude oil is that not only is  crude oil itself still bearish and any pullback   in this market is viewed as an opportunity to  once again look for bearish reversals down to   next care of support at 62 23 but because of this  this really just underscores what we looked at in   the individual currencies of the canadian dollar  which is that the cad itself is quite weak so   again i would really prefer to pair the canadian  dollar next week with the strong currencies   rather than with the weak currencies so the first  cad pair we're going to look at here is CADCHF,   CADCHF was a market highlighted to the downside  last week we did come down and we took out the   target set going into this week any pullback in  CADCHF is simply viewed as an opportunity once   again to look for bearish setups down to the next  kf supports the downside of the target set 0.7089  

next is USDCAD, USDCAD was a market highlighted  to the upside last week and we did grind to the   upside even though the us dollar has just really  been correcting so any pullback in this market   is going to be viewed once again as an  opportunity to look for bullish setups   i'm going to be looking into the  target set from last week at 1.2879   or if we take this out first and then pull back  i'm going to be looking up towards target 2 at the   1.2943 just remember the interest rate decision  on wednesday so what we'd really like to see is   a pullback in this market like this between now  and wednesday and then on wednesday you get that   explosive move to the upside for example and then  what will happen is you will start to get a bit of   a correction like this and then you get follow  through towards the target like that that's the   interest rate decision set up that i'll be looking  for next week correction into it explosive move to   the upside in the direction of the trend and then  any pullback at that point after the breakout to   the upside is viewed as an opportunity to look for  long positions so USDCAD from wednesday onwards   and finally here the cad pairs we have CADJPY  again we're very close to the target so what i   would like to see is if we could take  this target out first from last week   any pullback into wednesday will be viewed as an  opportunity to look for bearish setups and if we   start to get that interest rate decision and a big  sell-off like this any pullback will be viewed as   an opportunity to look for short positions  from wednesday onwards down to the next care   of support at the 87.24 and finally we have the  pound pairs now when we looked at the individual   currencies we saw that the pound was individually  quite weak so similar to the cad pairs i would   prefer to trade the pound pairs versus the strong  currencies than the weak currencies next week   last week i highlighted this market to the  downside GBPCHF we did take out the targets for   another really good market from last week going  into this week any pullback in this market will   be viewed as an opportunity to look for bearish  setups and the good thing about the pound pairs is   we don't have those interest rate decisions like  we do out of aussie and cad so the pound pairs   may actually be good setups going into next week  if you want to sidestep some of those interest   rate decisions but any pullback in this market  is viewed as an opportunity to look for bearish   reversals down to the next kiev supports the  downside the target set the 1.2053 next is GBPUSD,  

GBPUSD is structured to the downside we're coming  very close to the target set from last week at the   1.31780 so what i'll be looking for going into  next week is especially as the correction looks   to be coming to an end in the dollar any bounce  from this target here from last week at 1.31780   is going to be viewed as another opportunity to  look for bearish reversals in this market down to   the next care supports the downside the target set  and 1.3080 and the final pair we're going to look   at here is pound yen pound gen is a market that  was highlighted last week to the downside and we   did take out the target that was pretty much the  low of the week in this market very simply put   going into next week any pullback in this market  is simply viewed as an opportunity to look for   bearish reversals down towards the next kiev  supports the downside of the target set or the   148.16 and if we can break through here there's  quite a big gap down towards target two at one   four five point four ninety so to summarize the  new zealand pairs once again really do look like   the best place to be paying attention to next week  to the downside aussie pairs also look good but we   have the interest rate decision out of australia  which can shake things up a bit if you want to   sidestep those interest rate decisions next week  then also the euro pairs and potentially the pound   pairs to the downside also look quite good so that  guys is how i'm looking to play the forex markets   going into next week okay so let's wrap up the  video by looking at stocks gold silver and bitcoin   i have been previously bearish on stocks and  especially with the currency complex pointing   us towards deflation i have been warning since  the beginning of november that we will likely   do a correction in the stock market should have  your hedges in place short positions in place and   anybody who's been following the weekly forecast  and had those hedges in place at the beginning   of november not only protected themselves but also  you could have done very nicely to the downside so   we did take out target set in the spx last week  going into this week i am still bearish overall   on stocks we have not yet reversed to the upside  we haven't seen any strength coming in yet   however one thing i would say is i do think we  could start to see a bottom here in stocks so   if it looks like we could be starting to bottom  out and coming towards the end of this correction   but at the same time we're not yet bullish in  stocks well how can we use that information   so the best way to think of it would be like  if we had a plus four or a minus four rating   in the currency scorecards the way we'd use that  information is say we had a rating of plus four   well it's very very strong to the point where  you may start to top out you don't want to sell   it at the top you don't try and pick the top but  if you are already long in that currency it's a   good time to take profits so the way i'm looking  at it in stocks is i don't want to try and pick   the bottom necessarily of stocks but because  it looks like we may start to bottom out in   this correction over the next week or so i have  personally unwound some of my hedges taken off   the short positions which have paid very nicely  since the beginning of november and i am looking   into december for the stock market to continue  higher now it's always difficult to say that   when you're sitting here with stock selling off  and there's lots of panic in the markets but   the data that i'm looking at suggests there is a  good chance we could bounce in stocks fairly soon   so going into next week and we may come down take  out the target first any pullback is viewed as a   potential opportunity to look further declines  in stocks down towards the 44 76.44 but i do  

think we could start to see stocks higher in  the month of december and so in my opinion any   short positions now have a greater risk of upside  in the stock market and i think this is actually   quite a good profit taking opportunity  for short positions in the stock market   so in order to turn really bullish on stocks once  again what we'd like to see is a reversal again   perhaps we come and take out the target next week  and then we start to reverse up like this and then   we look for the right shoulder in following  weeks so let me just summarize that because   there's a little bit of nuance in here i am still  technically bearish on stocks but i do think that   the risk of a bounce in stocks is now quite high  and so although i wouldn't consider this a place   to be super bullish in stocks i would consider  this more like a profit taking opportunity for   short positions and the time i will get very  bullish on stocks once again is if we can start   to see a reversal in the indices so patience  required a little bit here in the stock market   over the next week or so next is the nasdaq now  last week we came down took out the target set   in the nasdaq i am once again going into this week  with a bearish bias on the nasdaq any pullback in   this market will be viewed as an opportunity  to look further declines into the 15 499.26   but just as we discussed with the spx i do  think we're starting to get into an area   where there is greater upside potential than  downside so again doesn't mean you have to go   out and try and buy the bottom here but the data  that i use is suggesting to take some profits off   the table from short positions or hedges which  have been in place since the end of november next   is the dow jones now we came down took out the  target set last week in the dow jones three four   four five eight point sixty and that was actually  pretty much the low of the week in dow jones going   into this week i am still bearish on the dow jones  you can see we are still trending to the downside   however just like with all the stock markets i  do think there is greater upside risk now any   pullback is still viewed as an opportunity to look  further declines into the 33 769.09 so if you like   to trade the indices themselves this is not the  time to go out and start to buy and trying to pick   the bottom here but i wouldn't be surprised to  see the stock markets turning around over the next   week or so next is the russell now the russell  came down and took out the target set last week   almost to the point really i mean this was pretty  much the love of the week last week going into   this week i do still have a bearish bias on the  russell and any pullback in this market will be   viewed as an opportunity to look further declines  into the 2107.08 so just as we discussed with  

the other stock markets i am still technically  bearish but you may find this down move or these   corrections are starting to come towards the end  and finally we have the nifty now the nifty is a   market that's been highlighted to the downside we  came quite close to the target and we started to   form this bear flag so any pullback in the nifty  is still viewed as an opportunity to look for   further declines into the next key of support  to the downside the target set the 16724.75 so to summarize the stock market just to  be clear on this they are all technically   structured to the downside if you like to trade  the indices themselves i wouldn't suggest going   in and trying to buy the bottom of these markets  here i'd wait for them to start to reverse first   but if you have short positions already in place  it does look like a decent time to book some   profits on those positions because we're starting  to get a greater risk of a reversal to the upside   in stocks the next market we're going to look at  then is gold now XAUUSD is currently structured   to the downside and we do have that failure to  break out of the inverse head and shoulders that   we highlighted previously if you remember this  is very similar to what we saw in the australian   dollar versus the us dollar and the new zealand  dollar versus the us dollar we had the inverse   heavy shoulders failed and it came all the way  down took out the previous lows of the inverse   head and shoulders so we may see further declines  to the downside in XAUUSD if you look at this here   we're really stuck in a range which we've been  in all the way back since june so i'm not super   bearish on XAUUSD, XAUUSD doesn't stand out to me  as a fantastic market going into next week but on   the balance of probabilities i am favoring further  declines to the downside in XAUUSD especially   as the us dollar looks like it's going to continue  to the upside next week after a short correction   so any pullback in XAUUSD next week is viewed  as an opportunity to look for bearish reversals   down to the next kiev supports the downside of  the target set at the 1745.60 next is XAGUSD   XAGUSD was a market highlighted to the downside  last week and i did say in last week's video   i preferred XAGUSD to the downside than to be  trading XAUUSD last week and we came down took   out the target and that was pretty much the low  of the week in silver going into this week any   further pullbacks in XAGUSD once again are simply  viewed as an opportunity to look for bearish   reversals i'm going to be looking down towards the  next key of support to the downside the target set   at the 21.52 and last but not least we have  bitcoin now bitcoin is a very interesting   one because look at the sell-off we had here in  bitcoin and this just underlines why the videos   the weekly forex forecasts are structured in the  way they are why we only look to trade markets in   the direction of their prevailing trends because  nine times out of ten when you get an explosive   move like this it's going to be in the direction  of the overall trend it's going to be through the   path of least resistance and last week we were  looking for the declines in bitcoin had a bearish   bias on bitcoin and you see the big sell-off  coming into bitcoin taking out the targets at   the 49-317 so very simply put going into next  week any pullback in bitcoin now is viewed as   another opportunity to look for bearish reversals  really big momentum to the downside is indicating   further declines in bitcoin any pullback is viewed  as an opportunity to bearish reversals down to   the next care supports the downside the target set  the 39 630. so a really important lesson there for   why trading in the direction of the markets as  they're structured in these videos will keep you   from being on the wrong side of those moves most  of the time and also if you're involved in those   trades will actually get you in front of those  moves sometimes as well so that is it for me   for this week guys new zealand pairs are looking  like the best forex markets going into next week   stocks are still bearish still correcting  but maybe coming towards the end of their   corrections now and gold silver and bitcoin  are all bearish heading into next week with   a stronger dollar really weighing on those markets  so with that said i hope you enjoyed this video if   you did please let me know by liking sharing and  subscribing a big thank you to everybody who does   that on a regular basis and a big thank you to  everybody who has subscribed to the channel so far   i want to wish you all a fantastic weekend  and i want to wish you all the best in your   trading next week the only thing left to say  is take care and don't forget to trade safely

2021-12-05 19:05

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