THE NAIVE TRADER

So another reason for slacking on the uploads is my personal interest in another newer market everyone now knows of, the crypto sphere. But for the last few months with the market bearish it offered good entry and thus I have become more and more engaged, as just more is happening that forex and commodities in terms of volatility and news in my opinion. The opportunity to explore a new sector and at worse learn even if it all goes to shit is something I wanted to pursue So the reason I decided to produce this lil post was coz of the breakout that was witnessed a few days ago offering the potential for an eventual rebound and push the market into a bull trend for the near future. The chart isn't anything special but the downward trend was broken literally 2 days ago, and broke the $6800 level of resistance(I know this chart is in pounds) which many didn't see as possible for anytime in the near future. But furthermore there is the belief the upcoming ETF for bitcoin mig...

Looks like I am going to have to change my upload timing, clearly I have been unable to keep up to date with what I originally began with as a result of awkward work hours, so I will be looking to upload one per week and be more specific, trying to gauge entry and potential movement over the next week or so. I feel I will also look more into forex and maybe other majors to build my understand of the whole market. This fall from grace for Gold is continuing as the Dollar gains, it is looking as though the Dollar has easily broken through the 111 resistance I thought we would see and is pushing on upwards in the high 112 against the Yen. For Gold though, I dunno, like all my horizontals that seemed to potentially highlight the bottoms have been broken. Most recently the $1238 mark, as we are now down to $1228, as sell volume continues to rise which can been seen by the huge red section in the current volume section on the chart. This level of negative volume could be as of result ...

So damn late but been pretty busy, so I will try and quickly have a look at what is happening this week in the Gold and USD/JPY market. Nothing really happening to affect the precious metal until later in the week once again, but we are seeing the US Dollar holding in the 111 against the Yen. This as I have stated before is an important section as a result of the resistance the Dollar has. Thursday we have the US Core CPI and CPI, but neither show much change from last month in the forecast so I doubt this will do much to markets to be honest. Friday isn't showing much though for events to influence the market so we really do have a quiet week. I feel any serious movement we do  witness shall be as a result of Trump popping over to the UK. This will of course be an interesting period and depending on implications of potential trade agreements or ideas we might see some further gains for the US Dollar but we never really know with Mr Trump! After the rebound from the $124...

This week has held around the $1250 mark as it draws to a close, yet it wasn't without volatility around the beginning of the week. Monday saw heavy sell volume for the precious metal as the US Dollar continued further gains, as the Dollar holds around the 111 position against the Yen this week. As expected much of the consequences of data were only present later in the week, during the Friday period to be honest. Yet a sign of the potential for a rebound can be seen in the slight decline in buy volume for the USD/JPY market as the week progressed and in past experience this 111 stage against the Yen for the Dollar has always offered resistance. Tuesday showed the most action for the precious metal, regaining much of the ground lost during Monday's trading period. Shifting from $1238 all the way up to $1254, much of which can be seen by the rebound from the oversold position, as it moved into the lower band on the Stoch RSI. While later during the week we saw a sligh...

This week marks the beginning of the new month and we aren’t short of items to discuss in regard to data releases later in the week. But let’s have a look at what the first few subdued days of week have to say before we reach Thursday and Friday which is where much of the action is. Monday, we have the UK’s Manufacturing PMI, something which won’t do much to the markets we follow but nonetheless it is important, forecast is showing a slight dip from previous and thus is much more of an issue for the cable market. But not looking too much into it. Later, on Monday we have the US’s ISM Manufacturing PMI, which much the UK’s release earlier is showing little deviation from the previous release so I expect a small consequence on the USD/JPY and Gold market. Tuesday is quieter than Monday, with the only event I see having much effect on the major markets will be the UK’s Construction PMI, but it has even less deviation that the previous day! So I expect no consequences on the Go...