Forex trading long FTSE100, range trading Bitcoin [Video]

Brad Alexander FX Large Limited

Last time we looked at the NASDAQ nearing all-time highs.

It looks like the S&P500 is almost there as well.

Let’s take a quick look at the US indices.

The S&P500 is very near all-time highs…and so is the NASDAQ.

Basically, this shows that investors are ignoring Donald Trump’s tariff threats so let’s see if he follows through.

The DJIA is still in a symmetrical pennant, but if we assume that the same optimism will carry over from the other indices, we may look of a move to the upside.

The stochastic oscillator is oversold and turning up and we are in mid-range in the pennant.

Speaking of indices, price action on the UK FTSE100 has had a pullback in this bull run and is almost at the lower trend line.

We also see the stochastic oscillator looking very oversold.

Whether you are trading indices, forex or commodities, we have a mountain of economic news this week so check your calendars.

Please note that the timing on this calendar is London time, GMT.

This week, we have Interest Rate decisions from Australia and New Zealand, CPI from Canada and the UK, and PMIs from Europe, the UK, and the US.

So, lots of opportunities to look for counter-trend moves to let us trade WITH the trend at a discount.

Last time we looked at a short trade on WTI Crude Oil and look what happened.

If we move out to the daily chart, we see price action is at support but there is a major key level below at $67.

We see a range trading opportunity on BitCoin between $95,000 and $98,500.

As you know, cryptocurrencies are quite volatile but you may want to use technical indicators to time your entry and exit points.

That’s all for now.

CFDs and FX are leveraged products and your capital may be at risk.

Author

Brad Alexander

FX Large Limited

Brad became fascinated with the Currency Markets from a young age and researched fundamental analysis.

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