Welcome back, it’s been an exciting week, especially for Crypto! ?
There were a lot of good trading opportunities across the 3 main markets, and for this week a lot of the action was focused on the Crypto markets.
This is the reason why we cover a broad range of markets, so that we can focus our attention (and capital) on whichever market currently gives the best returns.
On the forex front we saw Gold strengthening due to inflation fears, and speculation of deflationary action also caused the USD to strengthen.
The GBP and EUR were weakening, so many of crosses against these pairs had decent price moves.
Stock Market Highlights
The stock markets had a slight correction this week (which I predicted in last week’s market wrap), so it was a good thing we had reduced our positions prior to the correction.
Some stocks had pretty bad earnings, which led to huge price declines.
I will be watching this coming week to see if the correction has more legs, or whether it is coming to an end, so that we can buy back in.
Since the crypto market moves very fast, you need to be quick to enter breakouts, and these breakouts can also run up very quickly, for example 10-20% in just a single day.
This is great because the capital can be quickly recycled to enter new trading positions, once the target profit is hit.
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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