NEW YORK (MarketWatch) — The euro on Monday tumbled to its lowest level versus the dollar since January and remained under pressure after European voters rejected pro-austerity candidates in weekend elections, calling into question the region’s control over its sovereign-debt crisis.

This is the 5-min chart of the EUR/USD. After the large gap down in the Euro, it has trended upwards in a trend channel, providing many trading opportunities. This channel could be a bear flag on a larger timeframe, heralding further downside.


This is the daily chart of the German DAX, the benchmark for the German stock market, and quite often the Eurozone. This looks like a possible H&S in the making…

This is the daily chart of the S&P 500. If you recall this post,, the 2nd leg down has already started.

Today, we gave an exclusive seminar to the members of TRT (Traders Round Table), where we focused more on trading psychology since the audience consisted of mostly experienced traders. We also had time to go through some candlestick patterns from a psychological perspective, and some examples to illustrate the limitations of candlesticks in price action trading.

Due to time contraints (the talk stretched over 2.5 hrs) , we did not have much time to discuss the markets, but below is a snippet of the Singapore markets.

Ascending triangle spotted on the Straits Times Index. Is it going to be “sell in May and go away”, or a breakout to new highs? Let’s keep a close watch on that key level, and watch for a major pivot which could start the new big move.

Thanks for the support, and stay tuned for our future seminars!

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A warm welcome to the new members of our community!

Over the past weekend, you have learnt the tools of price action, volume and psychology, as well as a variety of setups for different market conditions. We hope everyone has gained insights and knowledge to take your trading to the next level.

Based on the feedback we got, we will be making minor modifications to the program structure to improve the flow, and will be adding in more practical sessions and chart examples in the Synapse Workbook.




This weekend marks the start of your trading journey. Hence, we urge all new traders to participate actively in the forum to improve their skills, and at the same time benefit by helping one another.


“Very satisfied. Definitely improve my knowledge on price action and decision-making.”
– Alvin Lim

“Syllabus is good and easy for beginners to follow. Trainer Spencer is young but very knowledgeable and experienced in price action analysis.”
– Mr. Ang

“The techniques taught are very flexible and can work for all markets, like stocks, forex, etc. I am very impressed.”
– Justin Cheong

To see more testimonials, click here.


This is the 5-min chart from the CMC Markets platform. There were a handful of decent trades today. Prices are stalling at the bottom of a large channel, and look like they might be accumulating longs for a bigger move later on. Let’s watch and see.

Numbers on the chart correspond to the setups here: