Weekly Market Wrap: Nuclear Threat Reminiscent of Cuban Missile Crisis
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[Photo: Former nuclear missile base in Ukraine – See my full travel photo log!]
For our weekly market wrap, we go through some of the trade calls and analysis from last week, which gives us valuable insights for the week ahead.
We cover 3 main markets with a total of 200+ counters, so we will never run out of trading opportunities:
- Forex, CFDs, commodities, bonds
- US stocks, ETFs, global stock indices
- Cryptocurrencies, crypto indices
By covering a broad range of markets, we can focus our attention (and capital) on whichever market currently gives the best returns.
Table of Contents
Forex Market Highlights
In this risk-off mode, people are moving back to safe haven assets.
EURJPY – Congrats to those who took the pullback opportunity to enter the trade, netting a profit of 200+ pips! ????
Can consider taking profits now after such a climatic move.
Product: Forex
Name: British Pound / US Dollar
Ticker: GBPUSD
Exchange: N/A
Analysis: Price coming down after hitting the top of trend channel.
EP: 1.355 to 1.350, or any pullbacks
SL: 1.365
TP: 1.32+
Following up on the USDSGD, it is starting to move up again. The previous price dip was a good buying opportunity, as prices stayed above the SL.
Commodities Market Highlights
Following up on Crude oil, it has gone past $100 as predicted, and the momentum is very strong due to fundamental factors.
It’s a trade-off, depending on your risk preference. Shorting earlier has lower success rate but higher RR, while waiting for more confirmation has higher success rate but lower RR.
Product: Commodities
Name: Gold (spot)
Ticker: XAUUSD
Exchange: N/A
Analysis: Due to the risk-off climate, the price of gold has spiked up significantly, and is looking to surpass the $2000 level soon.
EP: Buy on any pullbacks
SL: $1875
TP: $2070++
Stock Market Highlights
Following up on the NASDAQ 100 (US 100), I said to close all longs and go short once that level is broken, and that happened about 4 days ago.
By now, all our shorts are comfortably in the money.
I also mentioned to take profit on growth stocks, which was just in time before the collapse.
Now, we can continue to ride our short positions as the Russia-Ukraine situation plays out.
Looking at the chart of the NASDAQ, the downtrend is still in progress, and I don’t really see any bullish catalysts at the moment.
Even if Russia calls off the attack, the market was already bearish before that, because of inflation, interest rates, Covid, etc.
Crypto Market Highlights
Following up on Bitcoin (BTCUSD), it unexpectedly was not able to hold the $40k price level, but the uptrend is still intact, so I will be watching to see where this pullback ends.
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Good luck, and may next week bring more excellent profits!
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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.
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