In this video:
00:16   Trading on the daily charts on a holiday
00:52   The US strengthened hugely this week
01:15   Huge market for Gold and Silver

I’m in the beautiful city of Jaipur on Northern India and I’ve been trading on the daily charts just this week so join in now and I’ll tell you all about it.

Hi Andrew Mitchem here the Forex Trading Coach.

Today is Sunday the 19th of May. And I’m in India as you know I’m on a holiday but I’ve been trading on the daily charts only and that’s the beauty of trading Forex. You can trade the daily charts, I’ve been getting up quiet early in the morning here because 9 o’clock in New York time is 2:30am in the morning here.

But it means that I can put my trades on, put on and leave them and set them then it means that later in the day I can come back to the hotel the next morning and check the trades again. So that’s what I’ve been saying over the last few weeks. What we’re looking at is trading less because remember there’s no prizes for trading more.

Look at trading less, get away from those 5 minute, one minute charts and get on to the daily charts, the four hourly charts. It allows you to do things like travel like I’m doing here.

And into the charts themselves this week what are we seeing? Well we are seeing the US strengthen hugely this week and at the same time, we’ve seen the NZD, the AUD, and the JPY weaken quiet considerably.

And looking at the charts I’ve just done we’re now into Sunday before the market opens for the next week. I anticipate that the prevailing trends will continue heading into next week.

Now of course I’ve got to mention Gold and Silver, I’m in India and everyone loves Gold and Silver here. There’s a huge market for it. Everything is dropping at this stage and it’s due to the US strength as well. And again looking at the charts it looks like the down trends may well continue.

So if you’re looking at trades for next week, look at short or anything against the US and consider taking shorts over the long term at the moment and look at selling Gold and Silver when opportunities come.

That’s it for now. I’m off back to enjoy the beautiful temples here in Jaipur and I look forward to talking to you this time next week.

Quick Links


About Andrew
About Paul
Cookie Policy


Free eBook
Free Risk Calculator
Are You New to Trading Forex?
Are You About To Give Up Trading?
30 Minute Forex Trader Update
Online forex video course
One on One Coaching in Person
One on One Coaching – Online
© 2020 The Forex Trading Coach Ltd (NZ FSPR:FSP37396) provides general information and educational courses and materials only. This is not an offer to buy/sell financial products. We do not provide personal advice nor do we consider the needs, objectives or circumstances of any individual. Financial products are complex and all entail risk of loss. Over-the-counter derivative and foreign exchange products are considered speculative because they are highly leveraged and carry risk of loss beyond your initial investment, hence should only be traded with capital you can afford to lose. Please ensure you obtain professional advice to ensure trading or investing in any financial products is suitable for your circumstances, and ensure you obtain, read and understand any applicable offer document.

Latest Podcasts / Videos

#367: Trading in 10-15 minutes a day

Trading in 10-15 minutes a day  Podcast: #367: Trading in 10-15 minutes a day In this video: 00:26 – How much time do you spend watching the charts each day? 01:30 – Waiting for every pip 01:53 – The way we trade 03:12 – Why we trade at 5pm EST, New...

#366: How to manage a run of losing trades

How to manage a run of losing trades  Podcast: #366: How to manage a run of losing trades In this video: 00:25 – Trader struggles with losing trades 01:41 – Your strategy stops working 02:26 – No trading results are ever even 03:13 – Trade a variety of...

#365: How a Client Now Owns His Own Fund Management Company

How a Client Now Owns His Own Fund Management Company  Podcast: #365: How a Client Now Owns His Own Fund Management Company In this video: 00:31 – Email from a client who joined 3 years ago 01:19 – Started hedge funds and investment bank 01:51 – Look...

#364: Which Forex Brokers Do I Use & Suggest?

Which Forex Brokers Do I Use & Suggest?  Podcast: #364: Which Forex Brokers Do I Use & Suggest? In this video: 00:24 – The brokers that I use and suggest 01:03 – What I look for in a broker 02:27 – List of brokers, including US brokers 02:52 –...

#363: Excellent Market Conditions Continue

Excellent Market Conditions Continue  Podcast: #363: Excellent Market Conditions Continue In this video: 00:28 – Week 5 of Coronavirus lockdown 00:49 – Great trading conditions and examples of our trades 01:35 – Live webinar with clients 02:02 – What are...