#460: A Week of Rises and Crashes

06/19/22 • 5 min

A Week of Rises and Crashes Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #460: A Week of Rises and Crashes In this video: 00:25 – Outside in the middle of winter 00:40 – Massive moves in the markets this week 01:30 – Crypto’s are crashing 01:55 – What does this mean for us? 03:15 – Client makes +105% since April (in just 10 weeks) 03:54 – Blueberry Markets offer loss refunds 04:54 – Movements provide us with great trading opportunites 05:33 – Feel free to contact me directly It's been a week of rises and crashes. Great opportunities for us in the Forex market and in the crypto market. Let's talk about that and more right now. Hey, traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 460. Outside in the middle of winter Wanted to get outside. Beautiful, crisp winter morning here. Not sure if you can see the snow behind me, but we've got a good dusting of snow on the mountains behind. And it's just a beautiful time to be outside. I'm hoping to go for a flight at the weekend and go and check out that new snow. Massive moves in the markets this week But back to the charts. Well, what a week it's been. Just massive rises, massive crashes, depending on what markets you're looking at. With the interest rates around the world, last week, the Australians put theirs up by 0.5% or 50 basis points, expected to be 0.25. This week we've had the US, expected to go up by 0.5, went up 0.75, but the US then crashed, which is not what you'd expect, which is why we look at charts and not the news. The frank, when we were holding our live webinar last night, they put theirs up, expected zero change. It went up 50 basis points and the frank went massive, went through the roof. And then the British put theirs up by 0.25% as expected. Crypto’s are crashing Right now, Bitcoin, if you go back six weeks ago, back into the end of April, Bitcoin was about 40,000 US dollars. Today it's approaching 20,000. It's almost down to 20,000 as I'm recording this. Ethereum, a month ago, 2,200, today, 1,100. It's halved. It's crashed. It's dropped by 50% in a month. Just unbelievable. What does this mean for us? What does it mean for us though? As traders, it means opportunity. There are opportunities everywhere with movements in the markets. And the thing is, it doesn't matter whether I'm expecting the US to go up because they put their interest rates up and it went down, because on the charts, we were looking to sell the US anyway. And that's exactly what happened. It doesn't matter that Bitcoin and Ethereum are crashing, because we can sell them. When we see opportunities to sell, we can do that. In fact, about half an hour before I've started recording this, we've just taken a 12 hour sell on Ethereum because it's pulled back a little bit yesterday and now it looks like it's dropping again. Great opportunity to drive it down again and get out before the last swing low. So opportunities everywhere. Forget the news. Just trade what the charts are showing you. And there are so many great opportunities because of course, we can go long and short. We can buy and sell. It's not like we bought Bitcoin at 60,000 and spent $60,000 on a Bitcoin and now it's worth 20,000 and we're all going, oh my gosh, we've just lost 40,000. Not like that at all. It's complete opposite. We're just buying and selling it depending on what we see at the time on the charts. I'll give you an idea. Client makes +105% since April (in just 10 weeks) A client of mine who has used our breakout strategy, which is a strategy that we use just once a week, he's adapted it onto different currency pairs. And he's sent me his myfxbook link. He's up 105% since April. And we are now the 16th, 17th of June. So, in what's that? 10 weeks, he's up 105% on his account. He's had a 12% draw down. That's all he had, and 105% gain.

Previous Episode

#459: Why I Trade Using Candle Patterns

Why I Trade Using Candle Patterns Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #459: Why I Trade Using Candle Patterns In this video: 00:26 – Why I use candle patterns 01:01 – Brokers offer you multiple indicators 01:41 – I deleted everything and started again 03:13 – Not all candles are equal 04:08 – Candles show you what’s happening in the market 05:05 – Blueberry Markets as a good broker option I'm going to explain why I trade using candle patterns. Let's talk about that and more, right now. Hey, traders. This is Andrew Mitchem here at the Forex Trading Coach with the video and podcast number 459. Why I use candle patterns This video is really important because it explains why I use candle patterns and why I believe you probably should do too, and how it will massively help you with your trading. You see, there are different ways of trading. You can be a fundamental trader, where you're predominantly looking at news events, political events, those type of things, or a technical trader. I'm a technical trader. But even when you become a technical trader, there are still so many different ways of trading. And most people unfortunately get caught up in the hype and the glitz and the glamour of too many indicators. Why I use candle patterns You see, the Forex brokers are very, very good at offering you just an enormous basket of indicators. And everybody makes the same mistake when they start trading, as they think they are going to find this magical formulation of indicators that no one else has found. There's a magical combination, the right settings, that just no one else in the history of trading's ever discovered before. And this is what's going to make it work for you and why you should have lines all over your charts. Look, I fell for it years and years ago as well. And it's something that pretty much everybody who decides to be a technical trader will do so at some stage in their trading journey. So it brings me back to candles. I deleted everything and started again The reason that I became profitable is I got rid of all that mess on my charts, all those lines and arrows and stars and all those different things. You know what I mean if you've been trading with any form of indicators in the past. And I got back to candles. Why? Well candles tell me what's happening in the market. They tell me where the price has reached to as a high, where it's been as a low. So therefore natural support and resistance levels. It tells me there's momentum. Is it moving upwards? Is it moving down? Is it indecisive? It tells me, when I look at what part of the chart the candle is in, whether there's room to move. Do I have the ability to get to my profit target before hitting resistance levels as buy trades? And also the thing that so many people fail to do is they fail to look at the actual price. Now we're trading Forex pairs, or you might be trading commodities or cryptos, whatever it might be. If you don't look at the price on the right hand side of the chart, then all you're doing is basically following lots of squiggly lines on your charts if you're a technical trader, with too many indicators. You have to look at the right hand axis of your chart and look at the price. Why did that candle get up to that level? Oh, it's because it was a round number. Oh, look, it happened several candles ago, or several days ago, or weeks ago, it hit that level and it reversed. And so all those type of things are really important for you to consider when you're trading with candles. Not all candles are equal Now, another great thing with candles is, like I've said, they can show you indecision. They're not all equal. They're not all saying you have to buy here or sell there. You could be in an up trend and all of a sudden there's an indecision candle. And that then gives me two messages. One, if I'm already in a buy trade,

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#461: Protecting Your Future from What’s Coming

Protecting Your Future from What’s Coming Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #461: Protecting Your Future from What’s Coming In this video: 00:24 – You and your future 00:52 – Governments don’t really care 01:29 – Record inflation globally 02:27 – Tough for small businesses 03:47 – What can you do to future proof yourself 04:50 – Cryptos are getting smashed 05:08 – Get onto one of my webinars It's time to start thinking about protecting yourself and protecting your future. Let's talk about that more right now. Hey, traders. It's Andrew Mitchem, here at the Forex Trading Coach with video and podcast number 461. You and your future I want to talk about you, your future, what you're going to do about it to protect yourself and your family. You see, there's a lot of scary things happening in the world right now. Depends what you believe. It depends if you believe that all these long-term agendas are real or not, and how it may or may not affect you. I'm going to leave that up to you to decide. I've got my personal opinions on that. Governments don’t really care And it's out there for everybody to do their own research, but what's for sure is that governments around the world don't really care about you. And I think that's quite a fair statement. The last two years around the world have shown that with enforcements, with mandates huge record expenditure, and that's coming through now, that will affect everybody regardless if your beliefs, politically, or medically, or what you think agendas are coming. Without any question, what's happening right now and going forward will affect everybody. Record inflation globally You see, we're getting record inflation around the world. Prices going up. Food prices going up. Shortages. If you've got a better land, start planting, start looking after yourself. Record fuel prices, shortages of those, shipping costs, electricity shortages, and costs, being forced to go certain ways if you drive vehicles. All these type of things are quite scary for the way that everyday life has been affected. You add onto that high interest rates and lightly only to get higher. So your costs are going up, your mortgages are going up. Any loans, debt that you have is getting more and more expensive. So you put all that together and you probably treading water all going backwards, and again, lightly to get worse. Tough for small businesses Small businesses, it's harder and harder for people to employ people with rules, regulations, increase, labour charges. Today in New Zealand, we have a public holiday today that's never been had today. It's the first time of this public holiday. Our government created it a couple years ago, and today it's a public holiday. It's estimated, from what I've seen and read, to cost the New Zealand economy $440 million today in businesses needing to pay staff time and a half, loss production, all those type of things. Well, if you are a worker, fantastic, you get yet another day off. But probably most people, through various things that have happened in the last year, have had so many days off anyway with coughs and sneezes and public holidays. But think of it from the business owner's point of view and the economy's point of view. Yet more costs, yet less production, yet more stress on the owner. And all of these things are accumulating. Like I said, if you are the worker, great. If you are the business owner, and you're thinking about this from a bigger picture economy, point of view, not so great. What can you do to future proof yourself So what can you do about this? Because I see quite a uncertain future for a lot of people. And future proofing yourself, and for me using Forex to do that is a big part of what I do. You see, you've got to start somewhere. And think of the analogy of when was the best or when is the best time to plant a tree. Well,