Brexit discussion has picked up again as investor digest the "what if" scenarios of England not leaving the EU. As a result, the British Pound has been selling off this week. On the Canadian dollar front, we have witness the US equity markets selling off. The perception is equity sell-offs equate to a lack of economic demand, which puts a damper on oil prices...its the reason why oil now is below the $40 level. So which currency is weaker, the Pound or the Loonie, lets go to the video to find out?
MY TRADING METHODOLOGY IN A NUTSHELL BELOW
I’m a supply and demand trader. The premise of supply and demand trading is when the market makes a sharp move up or down the large institutions i.e banks/hedge funds are not able to get their entire trade placed into the market, leaving pending orders to buy or sell at the zone with the expectation the market will return to the zone and the rest of their trading position will be filled.
I use multiple time frame (MTF) analysis to improve my discretionary trading decisions. MTF analysis involves analyzing the same asset on multiple time frames. The rule of thumb when using MFT is you want your charts to scale down/up by 4X – 6X. In my case I tend to look at:
Monthly Charts (curve time frame) – which represents that jet fighter flying over the football stadium.
Weekly Charts (trend time frame) – which represents the concession stands looking down at the field.
Daily Charts (entry time frame) – which represents being on the football field with the player.
4 Hr Charts (entry time frame) – which represents the center hiking the ball to the quarterback.