A Week of Rises and Crashes
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#460: A Week of Rises and Crashes
In this video:
00:25 – Outside in the middle of winter
00:40 – Massive moves in the markets this week
01:30 – Crypto’s are crashing
01:55 – What does this mean for us?
03:15 – Client makes +105% since April (in just 10 weeks)
03:54 – Blueberry Markets offer loss refunds
04:54 – Movements provide us with great trading opportunites
05:33 – Feel free to contact me directly
It’s been a week of rises and crashes. Great opportunities for us in the Forex market and in the crypto market. Let’s talk about that and more right now.
Hey, traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 460.
Outside in the middle of winter
Wanted to get outside. Beautiful, crisp winter morning here. Not sure if you can see the snow behind me, but we’ve got a good dusting of snow on the mountains behind. And it’s just a beautiful time to be outside. I’m hoping to go for a flight at the weekend and go and check out that new snow.
Massive moves in the markets this week
But back to the charts. Well, what a week it’s been. Just massive rises, massive crashes, depending on what markets you’re looking at. With the interest rates around the world, last week, the Australians put theirs up by 0.5% or 50 basis points, expected to be 0.25.
This week we’ve had the US, expected to go up by 0.5, went up 0.75, but the US then crashed, which is not what you’d expect, which is why we look at charts and not the news. The frank, when we were holding our live webinar last night, they put theirs up, expected zero change. It went up 50 basis points and the frank went massive, went through the roof. And then the British put theirs up by 0.25% as expected.
Crypto’s are crashing
Right now, Bitcoin, if you go back six weeks ago, back into the end of April, Bitcoin was about 40,000 US dollars. Today it’s approaching 20,000. It’s almost down to 20,000 as I’m recording this. Ethereum, a month ago, 2,200, today, 1,100. It’s halved. It’s crashed. It’s dropped by 50% in a month. Just unbelievable.
What does this mean for us?
What does it mean for us though? As traders, it means opportunity. There are opportunities everywhere with movements in the markets. And the thing is, it doesn’t matter whether I’m expecting the US to go up because they put their interest rates up and it went down, because on the charts, we were looking to sell the US anyway. And that’s exactly what happened. It doesn’t matter that Bitcoin and Ethereum are crashing, because we can sell them. When we see opportunities to sell, we can do that. In fact, about half an hour before I’ve started recording this, we’ve just taken a 12 hour sell on Ethereum because it’s pulled back a little bit yesterday and now it looks like it’s dropping again. Great opportunity to drive it down again and get out before the last swing low.
So opportunities everywhere. Forget the news. Just trade what the charts are showing you. And there are so many great opportunities because of course, we can go long and short. We can buy and sell. It’s not like we bought Bitcoin at 60,000 and spent $60,000 on a Bitcoin and now it’s worth 20,000 and we’re all going, oh my gosh, we’ve just lost 40,000. Not like that at all. It’s complete opposite. We’re just buying and selling it depending on what we see at the time on the charts. I’ll give you an idea.
Client makes +105% since April (in just 10 weeks)
A client of mine who has used our breakout strategy, which is a strategy that we use just once a week, he’s adapted it onto different currency pairs. And he’s sent me his myfxbook link. He’s up 105% since April. And we are now the 16th, 17th of June. So, in what’s that? 10 weeks, he’s up 105% on his account. He’s had a 12% draw down. That’s all he had, and 105% gain. So shows what can be done there. He sent me his myfxbook. Happy to send you a link to that, if you want to have a look at it.
Blueberry Markets offer loss refunds
And another thing to let you know about. Blueberry Markets have told me that they are holding what they call, a bit of a loss guarantee for new accounts, if you don’t have an account and you’d like to open an account with Blueberry Markets between now and the end of June. It’s not applicable to Americans or Australians, but most other people it is. And as an example, if you opened up a $1,000 account with them and you had, let’s say a $200 loss, they would refund up to 20% of your loss. Or in other words, the $200 back to your account. Find out about it. Just have a look at Blueberry’s site. Contact them. And it’s something that’s actually quite good, if you are looking at trialling them out and seeing what you think about them, because any losses that you have up to 20%, they will refund. I think they’ve got a maximum of $300 refund or something like that. But have a look at them. I’ll put a link to them below this post as well. So I hope that helps.
Movements provide us with great trading opportunites
Like I said, great opportunities out there with rises and crashes. Every time there’s movement, it provides us with multiple opportunities to trade different markets, different timeframe charts, all using the same strategy. Getting some great feedback from people. Clients doing really, really well, which is so pleasing to see. Yeah, you can trade long. You can trade short. You can trade different markets, using the same logic, by looking at the charts, trading what the charts are saying. The strategy works. It’s been proven for 13 plus years now. We’ve now got clients in 100 countries as well, by the way. Really proud of that achievement.
Feel free to contact me directly
So if you need any help with any trading information, drop me an email, [email protected] And I’ll see you this time next week. Bye for now.
Episode Title: #460: A Week of Rises and Crashes