We've all seen what's been happening over the past weeks and months with the coronavirus which has rapidly spread across the world. The markets saw sharp declines across a range of assets. As always there is opportunity.
First of all I hope you are safe and well during this challenging time which we are seeing right now across the world.
Markets from currencies, stocks, and indicies, and precious metals all saw big drops in price.
There are a number of things that can be done in times like these.
If you caught the short at a decent price, great. Hold it till you get a signal to get out.
If you didn't get short, wait for an opportunity to buy, markets can't fall forever.
Whilst I heard a number of people saying "SELL SELL SELL!" I was was waiting for buy trades and here's a couple I saw.
So price had been falling for some time and kept taking out demand as it went.
When price got to this one, it held:
Here's the reaction when price came back:
It's pretty clear that buyers were stepping into the market at this level.
The 15m gave an indication that price would rally:
Then this happened:
Same sort of thing with this one. Price came into daily demand after a sharp sell off. Rather than look to jump into the short I looked to see where price might turn and rally.
Here's what I saw.
Lower timeframes indicated a bullish move:
A lot of countries right now are on lockdown. No going out or very limited going out for groceries etc.
Now is great time to get stuck into your trading and take it to the next level. Pips will be made even in this time, that's for sure.
If you want to know how to get entries like these, message me.
I hope you found this useful.