Blog: Market Analysis

Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.

Is it Too Late to Buy Bitcoin Now?

All of a sudden, I’m seeing the word Bitcoin everywhere I go.

It is all over the news.

Bloggers are talking about it.

Everyone is calling a buy for it, even those who have no idea what cryptocurrency is.

So the big question is, is Bitcoin still a good buy at its current price?

Here is some background on Bitcoin:

Before answering that, it’s amusing how everyone is getting excited about Bitcoin now, when just a few months ago most people were saying it it’s a scam, or that it is going to crash to zero, that it is worthless, etc.

Seems like it is human nature to jump on the hype train.

If you have been following me on my Telegram channel (https://t.me/synapsetrading), you will know that we have been accumulating it since early last year, when it was around $4000+.

Here are some of the updates I posted last year:

Now, let’s look at the current prices.

On the weekly chart, we haven’t seen any correction in months, which shows that the trend and momentum is strong in the long-term, but it also shows that the trend is not moving at a stable sustainable pace.

A stable trend is marked by ups and downs, not just a parabolic one-way move.

If you think in terms of numbers, the potential percentage upside gain is much less compared to the start of the trend, which is why I prefer to get in early on a new trend rather than chase a late-stage trend.

If I am going to add more positions or enter, I will wait for a larger correction first, such as a pullback to the EMAs on the weekly chart.

Trade safe, and stay tuned! ???

Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.

Recent Trade Updates with the Market Correction

Recently, after the long run up in tech stocks, there has been some correction, leading to counter-trend moves in various counters.

We managed to spot and pre-empt many of these moves, using price action, patterns, and support/resistance levels.

Join our FREE Telegram channel for daily trading tips:
?? https://t.me/synapsetrading

Market Overview

Trading Opportunities

Short trade on CHF/JPY

Short trade on GBP/USD

Short trade on S&P 500

Start Your Trading Journey Today!

If you are interested to start your journey with our closely-knit community, click on the link below: https://synapsetrading.com/the-synapse-program/

Here is some feedback from our students:

“I’m very new to trading and this training gave me a lot of important insights & strategies to become a good trader.” – Larry Tan

“I feel that the course provided a clear and proven methodology to trade effectively. The tools provided are also very supportive.” – Janie, AXA

“The concepts taught by Spencer are easy to follow!” – Jiawei

“Very informative and interactive training conducted in a right pace.” – Eugene Chng

“A very complete training program that give a good coverage on trading and practical setups that are easy to understand and apply. The mindset portion is very important to ensure that we are profitable in the long term. Thank you.” – Alan

“The training was very well-done. The flow in the course is good, and very informative and detailed with a good overview of the entire market. The ending with mindset and psychology summarized it nicely. The case studies were also very useful in allowing us to apply the principles involved.” – Sherilyn Tan

See you on the inside! ?

Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.

Market Analysis – Can the Economy Get Back on Track?

As various countries open their economies, notably China and the US, will it lead to a surge in new cases, and will it lead to further shutdowns?

And will the stock market be able to break new highs, or has it hit a major roadblock?

Join our FREE Telegram channel for daily trading tips:
?? https://t.me/synapsetrading

Major Events

There were some major news last week, such as the negative Fed forecast, which caused a huge dip in the stock market.

Daily new coronavirus cases continue to climb globally, with new spikes in the US and fresh outbreak clusters in China.

Stock Markets

The stock market seems to have hit a roadblock, and is taking a pause while deciding which way to head next.

I highlighted the crucial levels to look for on the S&P 500.

Tech stocks are still going strong, and the big tech giants are breaking new highs.

Trade Highlights

Here are some snippets from the daily trades in our private Telegram chat group for graduates of the “Trading Mastery Program”.

If you are interested to join our closely-knit community and start profiting daily from the market, click here: https://synapsetrading.com/the-synapse-program/

To read feedback form all our past students, click here: https://synapsetrading.com/testimonials/

See you on the inside! ?

Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.

Market Analysis – Is the V Shape Recovery for Real?

By this time, most people are also starting to believe in the V-shape recovery, and the Nasdaq has already fully recovered from the crisis, surpassing its highs before the Covid crash.

Will the tech stocks be able to lift the rest of the market to new highs, or will the general market drag down the tech giants as the reality of the economy kicks in?

Join our FREE Telegram channel for daily trading tips:
?? https://t.me/synapsetrading

Market Overview

Last month, the USD was very strong, while the AUD was one of the weakest, however this month we have started to see a twist of events, where the AUDCAD is in a strong bull, while the USD/CHF is in a strong bear.

Gold has declined slightly, putting it in weak bear territory.

Nasdaq (NASUSD) remains the strongest stock market, whereas Hang Seng (H33HKD) remains the weakest.

Major Events

The biggest news of the week is probably the awesome jobs data from the US, although there was some classification error.

Stock Markets

The stock markets continued to rise, and as I posted in the case study below, since the tech stocks have gone up so much relative to the rest of the market, I was expecting the rest of the market to play catch up, and on Friday we saw the Dow Jones & S&P 500 outperforming the Nasdaq as anticipated.

Trade Highlights

Here are some highlights and case studies of trades done on forex, commodities and CFD products, also taken from our private forum.

See more case studies: https://synapsetrading.com/trading-guides/case-studies/

The first is a trade we did on the USD/CAD, as it broke down from a descending triangle.

Next, we also had a good run on Crude Oil, riding on the surge in prices as economies reopened.

Trading Insights

Join our Last & Final Skillsfuture Workshop!

2 weekends ago, we conducted another full-house Skillsfuture workshop, with 40 pax of new traders & investors, as well as some of my past students who sat in to help out.

So far, every intake has been a full house, which is why we expanded to 3 workshops instead of 1 originally planned, because of the overflow. But our license expires on 18 June, so this is the last and final workshop which we can hold.

This fully subsidised Skillsfuture workshop will give you the skills and roadmap to build a second source of income to plan for early financial freedom, by building an all-weather portfolio that can perform well in any market conditions, and also market timing skills to create additional cashflow from short/medium-term trades.

Date: 13 & 14 June 2020 (6pm to 10pm)

Click here to check availability:
? https://wp.me/P1riws-8OX

? First-come, first-serve!
? See you soon! ?

Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.