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GOLD (XAUUSD) Dominant Bias: Bullish Gold went downwards in June, but went upwards in July, thus recovering some of the losses sustained in June. In July, a low of 1204.53 was reached, while a high of 1270.63 was also reached – showing bull’s supremacy. The bullish effort that was made last month has resulted in a bullish bias, which is supposed to continue this month. Gold may target the resistance levels at 1270.00, 1275.00 and 1280.00. These are initial targets, which might be exceeded as price goes northwards in slow and steady manner. SILVER (XAGUSD) Dominant Bias: Bullish Silver plummeted in June and early July, reaching a low of 14.3553. The low was reached as a result of a flash crash that was experienced in the first week of July, which was quickly recovered as price bounced seriously upwards, closing the month on a bullish note. There is now a Bullish Confirmation Pattern on Silver, which signals further bullish effort in August. The next targets are located at the supply levels at 17.0000, 17.5000 and 18.0000, which would require a very strong buying pressure to exceed. BITCOIN (BTCUSD) Dominant Bias: Bullish Bitcoin is both volatile and choppy (though the overall bias on the market is bullish). There was a serious bearish movement in the first half of July, which culminated in a gap-down. That threatened the bullish bias, but the second half of the month saw an agreeable recovery as price went upwards by roughly 100,000 pips from the low of the month. This has helped emphasize the recent bullish outlook on the market, which is expected to continue in August. The distribution territories at 2900.00, 2950.00 and possibly, 3000.00 are being aimed. However, there is a probability of a pullback as price approaches the distribution territory at 3000.00, which is an important territory.

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish EURUSD, which has generally been bullish this year, went upwards by 100 pips last week, testing the resistance line at 1.1750. Some attempts were made to breach the resistance line to the upside, but to no avail. However, the resistance line remains under siege and it may be breached to the upside, as other resistance lines at 1.1800 and 1.1850 are targeted. The outlook on EUR pairs is bearish for this week, but bullish for August 2017; so we may see some considerable correction before the end of the week. USDCHF Dominant bias: Bullish Perpetual weakness in CHF has helped USDCHF to generate a clean bullish signal (most CHF pairs also skyrocketed while the CHF/JPY plummeted). Price gained about 250 pips last week, and it is currently volatile. The market would continue going upwards as long as CHF shows weakness. This is a classical example of when both USDCHF and EURUSD go into a positive correlation; i.e., they both go upwards. The USDCHF normally goes into opposite direction to EURUSD, but this time around, the case is being influenced by exponential weakness in CHF. Price may go further upwards to test the resistance levels at 0.9750 and 0.9800. However, CHF would regain its losses, starting from this week and throughout August; something that would send CHF pairs (including USDCHF) southwards. GBPUSD Dominant bias: Bullish GBPUSD was able to retain its bullishness last week, trying to go upward just like EURUSD has done, since both of them normally go into positive correlation. The distribution territory at 1.3150 was tested repeatedly last week, and it might be breached to the upside this week, as other distribution territories at 1.3200 and 1.3250 are aimed. Although GBP pairs would experience mixed results in August, GBPUSD would not really become bearish as long as it stays above the accumulation territory at 1.2850. USDJPY Dominant bias: Bearish In this market, this month has been bearish so far. Last week was also characterized by bearishness in spite of bull’s desperate effort to push price upwards, which made price tested the supply level at 112.00, before price went downwards to close below the demand level at 111.00. The next target is the demand level at 110.50, which would easily be breached as other demand levels at 110.00 and 109.50 are targeted. The outlook on JPY pairs is bearish for this week and for August. Therefore, long trades are not recommended. EURJPY Dominant bias: Neutral This currency trading instrument has been consolidating for about two weeks, resulting in short term neutrality. A movement above the supply zone at 130.50 would bring about a Bullish Confirmation Pattern in the market; while a movement below the demand zone at 128.00 would result in a bearish bias. This is what is expected to happen within the next several trading days. Nonetheless, bear would eventually become a winner in August. This forecast is concluded with the quote below: “It doesn’t matter how often a method or system wins, what matters is the bottom line: does the method or system make money for you?! If it does, then stick with the bottom line.” - Andy Jordan

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish On EURUSD, bull was the clear winner last week. Price went upwards by 210 pips, breaking the multi-month high at 1.1600 and closing above the support line at 1.1650. Since June 27, price has gained 470 pips, and there is still more room for upwards movement, for price could reach the resistance lines at 1.1700, 1.1750 and 1.1800 this week. Nevertheless, it should be noted that, the more the market goes upwards, the more the chances of a reversal (which could happen before the end of the month). USDCHF Dominant bias: Bearish This pair went down about 200 pips last week, making bear the clear winner. Since May 12, the market has gone down by more than 600 pips, leading to a huge Bearish Confirmation Pattern in the market. On Friday, price went briefly below the support level at 0.9450, and later closed above it. This week, further downwards movement is expected and the support levels at 0.9450, 0.9400, and 0.9350 could be tried. In case USD gains a considerable amount of stamina, there would be an upwards bounce in the market. GBPUSD Dominant bias: Neutral Cable is bullish in the long-term, but neutral in the short-term. Price tested the distribution territory at 1.3100, and then began to be corrected downwards last week, reaching the accumulation territory at 1.2950. A movement above the distribution territory at 1.1300 would help restore the bullish confident; while a movement below the accumulation territory at 1.2800 would result in a bearish bias. A movement between the distribution territory at 1.3050 and the accumulation territory at 1.2900 would keep the short-term neutrality in the market. USDJPY Dominant bias: Bearish There is a bearish signal on USDJPY. Price went southwards by 140 pips last week (having gown downwards by 330 pips since July 11). On Friday, the demand level at 111.00 was tested – it would be breached to the downside this week. Other bearish targets are located at the demand levels of 110.50, 110.00 and 109.50. There is a strong bearish outlook on JPY pairs this week, and therefore, long trades are not recommended on USDJPY. EURJPY Dominant bias: Bullish The bias on this cross is bullish, though price only consolidated last week. Further consolidation can result in a short-term neutrality. One reason why the bullish bias has held out so far is the stamina in EUR itself. This week, there are possibilities that the supply zones at 130.50 and 131.00 can be tested this week. On the other hand, there could be a strong pullback before the end of the week (or the month), owing to a bearish outlook on JPY pairs for the rest of the month. This forecast is concluded with the quote below: “Trading is a great business for those who master it, and those who master it are traders who have mastered themselves.” – Joe Ross

INTRODUCTION: Hello Traders. The article below is useful for all areas of human endeavors (including trading). Please read it to discover a great secret today. Read between the lines and see how the facts revealed here aptly apply to trading. ----------------------------------------------------------------- There are, broadly speaking, two ways to see the world and these have a great influence on how successful you become. The first is what psychologists call the “external locus of control,” and the second is the “internal locus of control.” You see… as the world around you changes, you can either attribute success and failure to things you have control over, or to forces outside your influence. And which orientation you choose has a huge bearing on your long-term success. This concept dates back to the 1960s with Julian Rotter’s investigation into how people’s behaviours and attitudes affected the outcomes of their lives. Locus of control describes what individuals perceive about the underlying main causes of events in his/her life. Put more simply: Are you the pilot of your life or you just a passenger? Do you believe that your destiny is controlled by you or by external forces (such as fate, the government, your boss, the system or others)? Here’s how Charles Duhigg—the author of the book Smarter Faster Better describes locus of control: “Locus of control has been a major topic of study within psychology since the 1950s. Researchers have found that people with an internal locus of control tend to praise or blame themselves for success or failure, rather than assigning responsibility to things outside their influence. A student with a strong internal locus of control, for instance, will attribute good grades to hard work, rather than natural smarts. A salesman with an internal locus of control will blame a lost sale on his own lack of hustle, rather than bad fortune. “‘Internal locus of control has been linked with academic success, higher self motivation and social maturity, lower incidences of stress and depression, and longer life span,’ a team of psychologists wrote in the journal Problems and Perspectives in Management in 2012. People with an internal locus of control tend to earn more money, have more friends, stay married longer, and report greater professional success and satisfaction” What is an external locus of control? Well, we all know those people. In fact, sometimes we are those people. Nothing is ever their fault. There is always an excuse. The world is out to get them, life is unfair. Duhigg describes it as follows: “…Having an external locus of control—believing that your life is primarily influenced by events outside your control—’is correlated with higher levels of stress, [often]because an individual perceives the situation as beyond his or her coping abilities,’ the team of psychologists wrote” (24). The benefits of an Internal Locus of Control In general, people with an internal locus of control: Engage in activities that will improve their situation. Emphasize striving for achievement. Work hard to develop their knowledge, skills and abilities. Are inquisitive, and try to figure out why things turned out the way they did. Take note of information that they can use to create positive outcomes in the future. Have a more participative management style. The bottom line: We aren’t born with an unalterable locus of control, so it is critical to keep an eye on in ourselves so we can improve the way we look at the world. Sure, bad things happen to us. But rather than dwelling on them, it’s better to find a useful belief about them and move on. It’s important to remove the idea that your life is dictated by forces outside of your control. Of course, to one degree or another, it is. But there is plenty that we can control. You can create your own luck through study, hard work and perseverance. It’s often said that you become a blend of the five people you hang out with the most. This is important to keep in mind. Associate with positive people who believe they are in control of their own lives. Their beliefs and energy will rub off on you. And then yours will rub off on them. It becomes a very powerful and positive feedback loop! Author: Michael Yardney (a guest blogger at: Tradinggame.com.au) Author’s profile: Michael Yardney is a director of Metropole Property Strategists, which creates wealth for its clients through independent, unbiased property advice and advocacy. He is a best-selling author, one of Australia’s leading experts in wealth creation through property and writes the Property Update blog. PS: 4 useful trading quotes are also added below: “There is a wise saying which came into being primarily since the advent of mechanical trading systems, and it goes something like this: "Your system will stop working when someone else builds his system based on your system." Can you see the truth in that? It is because of that reality that it is best to scout around for what may be working recently, and why it is a waste of time to backtest a system or method to see if it has worked for the last 10 years. You can't trade history you are forced to trade the present in an attempt to take advantage of the future.” – Joe Ross “I’m not worried about being stingy, trying to get every last pip out of a trade; I want out of my position if the trade is going the wrong way! Do you want to be stingy or do you want to be OUT??” - Rick Wright “A winner has the ability to find positive values from the most negative circumstances. This is the first reason why only emotionally healthy people can assume risks, they are able to rise above the superficial negative circumstances, discover trading opportunities and take decisive trading actions based on the current market conditions.” – Andy Jordan “You have no control over whether you will win or lose – but you have enormous influence over the beliefs that drive the performance of your trading process. This is the new “Winning Nature” that bridges the gap between controlling outcome (which is impossible) and controlling your process (which you can do repeatedly). This leads to the calm, patient mind need for successful trading.” - Rande Howell

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair has been going upwards since June 27, and the bullishness has been maintained. Price also went upwards last week, though in a zigzag manner, closing above the support line at 1.1450 on Friday, and trying to go for the resistance line at 1.1500 (the initial target for this week). Other targets are located at the resistance lines at 1.1550 and 1.1600, which would require a strong buying pressure to reach. USDCHF Dominant bias: Bearish The market is bearish in the long-term and neutral in the short-term. While the overall bias is bearish, price has not really assumed any protracted movement in the last two weeks. For the short-term neutrality to end, price needs to move above the resistance level at 0.9750, which would threaten the ongoing bearish outlook; or price would need to move below the support line at 0.9550, which would help emphasize the bearish outlook. As long as price does not move above the aforementioned resistance level or below that support level, the neutrality in the market would persist. GBPUSD Dominant bias: Bullish GBPUSD moved upwards last week, gaining about 240 pips. The movement in the first few days of the week was flat, prior to the strong bullish movement that was witnessed on July 14. The market is intent on going further upwards, having tested the distribution territory at 1.3100. The distribution territory would be breached to the upside, for price would move further upwards by at least, 200 pips this week. The outlook on certain other GBP pairs is also bullish for this week. USDJPY Dominant bias: Bullish Although it is currently being threatened, the bias on this trading instrument is still bullish. The movement last week was essentially bearish, and as soon as price goes below the demand level at 111.50, things would go completely bearish (a Bearish Confirmation Pattern in the market). Only a strong rally from here can remove the threat on the current bullish bias. It should be borne in mind that the outlook on JPY pairs is bearish for July. EURJPY Dominant bias: Bullish The movement on EURJPY cross was bearish last week – in the context of an uptrend. Price first attempted to go upwards, but the attempt was halted as soon as the supply zone at 130.50 was reached. From that point, price got corrected by 180 pips, but it could not go below the demand zone at 128.50. For the bias to turn bearish, price would need to cut the demand zone at 128.50, while going further downwards. This is the expectation for this week, which could, however, be scuttled by incessant bouts of energy in Euro. This forecast is concluded with the quote below: “I believe a winning trading strategy should be easy to learn and apply in the real world.” - Jack Loftis Source: http://www.tallinex.com

AUS200 Dominant bias: Bearish This market has gone bearish since May and the bearishness has remained till now. There is a huge volatility in the market, which does not push price in a particular direction on a short-term basis, as the movement has been in a zigzag mode. This kind of action is supposed to continue in the next few weeks, as price subtly moves southwards. It is unlikely that the bias would turn bullish anytime soon; for that would require a very strong rally which would push price beyond the high of April 2017, which is located at 5997.42. SPX500 Dominant bias: Bullish SPX500 is bullish in the long-term and bearish in the short-term. The market is quite choppy and that is what it would continue to do in the next few weeks, until some unusual fundamental figure pushes price upwards to emphasize the long-term bullish bias; or price would go seriously downwards to override the long-term bullish bias. To stop the bearish threat, there is a need for the resistance level at 2455.0 to be breached to the upside. On the other hand, a movement below the support level at 2400.0 would result in a clean bearish signal. US30 Dominant bias: Bullish US30 is bullish in the long-term and neutral in the short-term. Price has been oscillating wildly, revealing a close struggle between the bull and the bear. The currency market condition is expected to hold out for some time, prior to a seriously directional movement, which would underline the major bullish bias, once the distribution territory at 21563 is breached to the upside. Further southwards movement from here might result in a bearish bias, especially when the accumulation territory at 21000 is broken to the downside (something that would require a massive sell-off). GER30 Dominant bias: Bearish This market has turned bearish, after trending downwards in the last three weeks. Both the short-term and long-term movements are bearish (a Bearish Confirmation Pattern), and as such, long trades would be illogical at the present. From the high of June 20 (12958.3), the market has lost about 6,000 points; plus July has also started on a bearish note. There could be temporary pauses and rallies along the way (which could be ignored), as price goes further downwards, reaching the demand levels at 12300.0, 12200.0 and 12100.0. FRA40 Dominant bias: Bearish FRA40 became bearish as a “sell” signal was generated on it in June, owing to the persistent downwards movement that started in May. The market gave up approximately 2,000 points in June, starting July on a bearish note (there is a Bearish Confirmation Pattern in the market). Since May 7, at least, 3700 points have been given up, and the trend is expected to continue this month, reaching the demand zones at 5100.0, 5000.0 and 4900.00 within the next several weeks. Bullish positions are not currently encouraged.

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish The market was engaged in a bearish correction from Monday through Wednesday and then rallied on Thursday, to close on a bullish note on Friday. This has put some emphasis on the bullish bias on the market, which means that occasional corrections would often lead to further rallies. The outlook on EURUSD is bullish for this week (and so it is for other EUR pairs). The initial targets are located at the resistance lines at 1.1450, 1.1500 and 1.1550. USDCHF Dominant bias: Bearish The USD/CHF made some bullish attempt in the first few days of last week, breaching the resistance level at 0.9650, but not being able to stay above it. The bullish attempt was not significant enough to pose any threat to the extant bearish bias, for price nosedived again on Thursday, owing to the new lease of stamina in EURUSD. The outlook on USD is bearish for this week, and as such further downwards movement towards the support levels at 0.9600 and 0.9550 is anticipated. GBPUSD Dominant bias: Bullish Basically, GBPUSD is bullish in the longer-term and bearish in the shorter-term. Price moved down by 110 pips last week, in the context of an uptrend, closing below the distribution territory at 1.2900. This week, the outlook on GBP pairs is strongly bullish, and as such, there is an expectation of a strong bullish movement to the upside, which would assert the presence of bulls. The initial targets are the distribution territories at 1.2900, 1.2950 and 1.3000 which have been previously attained. Price might even go beyond those targets. USDJPY Dominant bias: Bullish Since June 14, this pair has gained about 510 pips, moving in a perpetual bullish mode. Price is now very close to the supply level at 114.00; plus the possibility of breaching it to the upside is very high, owing to the clean Bullish Confirmation Pattern present in the market. Once the supply level is breached, the next targets would be the supply levels at 114.50, 115.00 and 115.50. However, the overall outlook for this month is bearish, and that may materialize anytime. EURJPY Dominant bias: Bullish The market moved sideways in the first few days of last week, before trending further northwards. Since June 15, this cross has gained about 740 pips, closing very close to the supply zone at 130.00 on Friday. The supply zone would be easily breached to the upside as price goes further towards other supply zones at 130.50, 131.00 and 131.50. There could, nonetheless, be some bearish reversals this month, but that may not happen as long as EUR is strong. This forecast is concluded with the quote below: "There is time to go long, time to go short, and time to go fishing. A good signal jumps at you from the chart and grabs you by the face – you can’t miss it.” – Jesse Livermore

GOLD (XAUUSD) Dominant Bias: Bearish Gold has turned bearish, owing to the protracted bearish movement that occurred in June. Price reached a high of 1295.87 on June 6, and then began to drop until the end of the month, losing 5400 pips in the process. This month has also opened on a strong bearish note as price goes further southwards, losing another 2000 pips this month. In this market, any rallies should be transient, offering opportunities to sell short at better prices, for price is expected to continue going southwards, losing at least, additional 3000 pips this month. SILVER (XAGUSD) Dominant Bias: Bearish Silver has gone downwards perpetually since June, and it has also gone downwards so far this month. Price reached the top of 17.7463 in June, and then began to trend downwards. Since June 6, the downwards movement has been in place until now, and price still shows a possibility continual weakness (a huge Bearish Confirmation Pattern has been formed in the market). This month, the downwards movement would enable price to reach the demand levels at 16.0000, 15.7500 and 15.5000 before the end of the month. BITCOIN (BTCUSD) Dominant Bias: Bullish The market is bullish in the long-term and bearish in the short-term. The recent bullish movement ended on June 11, and the bearish movement started on June 12. Bitcoin is rather a volatile market, and the volatility is expected to continue as the bear fights to push price further south. A movement below the accumulation territory at 2100.00 would result in a bearish outlook, while a movement above the distribution territory at 2900.00 would reinforce the recent bullish outlook on the market. Either the aforementioned accumulation territory or the distribution territory would be breached before the end of this month.

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish Last week, a bullish breakout in this market put an end to the neutral bias on it, which was in place from June 12 to 23. Price gained more than 250 pips, almost reaching the resistance line at 1.1450, but closing above the support line at 1.1400. There is a huge Bullish Confirmation Pattern in the market, which means that further bullish movement is a possibility. Nevertheless, the outlook on EUR pairs is bearish for this week; just as it was previously announced that the movements on EUR pairs would be bullish last week. We might see a meaningful bearish run on EURUSD before the end of this week. USDCHF Dominant bias: Bearish This pair dropped precipitously last week, almost testing the support level at 0.9550 before closing near the resistance level at 0.9600. The bias on the market is currently bearish, but that may change once EURUSD drops before the end of this week. There are support levels at 0.9550 and 0.9500, which may be tested. An upwards movement may enable price to test the resistance levels at 0.9600, 0.9650 and 0.9700. GBPUSD Dominant bias: Bullish GBPUSD, which normally gets positively correlated with EURUSD, also went upwards by 310 pips last week, closing above the accumulation territory at 1.3000 on Friday. There is a possibility of further upwards movement, but the movement would be limited since the outlook on this market, and certain on GBP pairs, is bearish for this week. This means that there could be a serious bearish correction before the end of the week. As usual, there would be strong volatility on GBP pairs in July. USDJPY Dominant bias: Bullish USDJPY moved slowly northward last week, testing the supply level at 112.50, but being unable to close above it. Since June 14, the market has gained about 340 pips while moving northwards slowing and gradually. The trend in the market is bullish, but that may soon be put to an end, for the outlook on the market is bearish for this week and for this month. JPY pairs are also expected to go bearish this week and in July. EURJPY Dominant bias: Bullish Unlike USDJPY, which moved upwards gradually and slowly last week, EURJPY cross moved upwards rapidly and significantly. Price went upwards from the demand zone at 124.50, and tested the supply zone at 128.50 (a movement of about 400 pips). There is a significant Bullish Confirmation Pattern in the market, and short trades are currently not encouraged until there is a deep correction in the market, which would eventually happen, owing to a bearish outlook on JPY pairs for the month of July. This forecast is concluded with the quote below: “Independence has a slightly different meaning when it comes to the world of trading, but it is an important one. Trading gives us the independence from having to have a “9-5” job. It gives us the freedom to work from just about anywhere in the world (thanks, in part, to technology). We can choose what we want to trade, how much we want to trade and even take breaks whenever we want. It’s one of the best “jobs” you can have.” – TradingEducators

Here’s the market outlook for the week: EURUSD Dominant bias: Neutral This market did nothing significant last week, save the movement between the resistance line at 1.1250 and the support line at 1.1100. The market has essentially become neutral, and that bias would hold out until the aforementioned resistance line is breached to the upside or the support line is breached to the downside. This is what is expected this week, for activity in the market would be greater than what was seen last week. Movement to the upside is more probable. USDCHF Dominant bias: Bearish USD/CHF also did not do anything significant last week, tough the bearish bias still exists, most importantly in the long-term. Price tested the resistance level at 0.9750 and later closed below the resistance level at 0.9700 on Friday. Further bearish movement is anticipated this week, especially when EURUSD goes northward (which is a possibility). There are possible targets at the support lines of 0.9650, 0.9600 and 09550. GBPUSD Dominant bias: Bearish The bearish signal that started on June 9 has lasted till now. Last week, price went downwards to test the accumulation territory at 1.2600, and later bounced upwards, to close above the accumulation territory at 1.2700. In spite of the upwards bounce, the outlook on GBPUSD remains bearish for this week (plus on certain other GBP pairs). Price could reach the accumulation territories of 1.2700, 1.2650 and 1.2600 - all of which were tested last week. USDJPY Dominant bias: Neutral This currency trading instrument is currently in a neutral mode, owing to the tight consolidation that took place on it last week. A bullish signal was generated on June 15, but that was rendered ineffectual owing to the bull’s inability to push price protractedly northwards. In fact, the inability of the trading instrument to go more upwards may eventually result in a smooth bearish run before the end of this week, since the outlook on JPY pairs is bearish for the week. EURJPY Dominant bias: Bullish This cross has been able to retain its bullishness so far, despite many odds against it. In most part of last week, price oscillated between the demand zone at 123.50 and the demand zone at 124.50 (formerly a supply zone). Since price was able to close above the demand zone at 124.50, an imminent bullish intent has been revealed. However, price may not move seriously upwards, because of the possibility of bearish movements, which can happen on JPY pairs. This forecast is concluded with the quote below: “Regular and honest self-assessment of your trading performance is crucial to your long-term success… It’s never comfortable to review a scenario and admit your mistakes, but doing so leads to massive personal growth as a trader — and in life too.” - Deron Wagner

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish The market largely consolidated last week – in the context of an uptrend. A movement below the support line at 1.1100 could trigger a bearish signal, and that exactly is what is expected this week, for the outlook on EURUSD (and some EUR pairs) is bearish. The targets for the week are located at the support lines of 1.1050 and 1.1000. However, there would not be a real threat to the current bullish outlook until the support line at 1.1100 is breached to the downside. USDCHF Dominant bias: Bearish Despite the little bullish effort that was made in the last few days of last week, the bias on USDCHF is essentially bearish. The bias would, nevertheless, turn bullish, once the resistance level at 0.9900 is breached to the upside. That is a huge possibility this week, because EURUSD is expected to trend south (thereby helping USDCHF upwards), and CHF is also expected to be somewhat weak, which would enable USD to rally versus it. GBPUSD Dominant bias: Neutral This is a volatile market, which has put the recent bullish outlook in a precarious situation. A protracted directional movement is needed before a new bias can be determined in the short-term. There is a need for the accumulation territory at 1.2600 to the breached to the downside before the bias can turn bearish, and there is a need for the distribution territory at 1.2900 to be breached to the upside before the bias can turn bullish. Until one of these two things happen, the bias would remain neutral. USDJPY Dominant bias: Bearish This trading instrument is trying to make some bullish effort in the context of a downtrend. Last week, price consolidated and then made a faint bullish effort on Thursday and Friday, as it closed above the demand level at 110.50 on Friday. The outlook on JPY pairs is again, bearish for this week, and as a result of this, any rallies perceived in the market should be disregarded, since they would turn out to be short-selling opportunities. EURJPY Dominant bias: Bullish The bias on EURJPY remains bullish, although that may change at any time. Price closed above the demand zone at 124.00 and it may hit the supply zones at 124.50 and 125.00, before turning south. Any gains in the Yen would cause JPY pairs to tumble, and EURJPY is no exception. Nevertheless, there is a need for price to go below the demand zone at 121.00 before the bias can really turn bearish. This forecast is concluded with the quote below: “I’ve reached the point where I can now support myself with my trading profits.” – Dr Jack Loftis

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish Although the bias on this pair is bullish, bulls are getting tired of pushing price upwards. Price consolidated last week, moving between the resistance line at 1.1200 and the resistance line at 1.1300, before it closed below the resistance line at 1.1200 on Friday. The outlook on EUR pairs is bearish this week, and that may cause the market to assume a bearish journey, as the support lines at 1.1150 and 1.1100 are targeted. USDCHF Dominant bias: Bearish USD/CHF moved between the resistance level at 0.9700 and the support level at 0.9600 last week. On Friday, an attempt was made to go above the resistance level at 0.9700, but price was forced to close below it. In spite of a faint rally that was seen last week, the dominant bias on the market remains bearish. Further bearishness is expected this week, as USD would be weak against some currencies like CHF, NZD and AUD. The only factor that could cause a noteworthy bullish run in the market is a major pullback on the EURUSD. GBPUSD Dominant bias: Bearish It was formerly forecast that the outlook on GBP pair is bearish for June. GBP pairs went through major pullbacks last week as EURGBP shot skywards. That event was what put an end to the short-term neutrality on GBPUSD, which has been moving sideways before the pullback that happed on June 9. That event has caused a Bearish Confirmation Pattern to form in the market as price lost more than 200 pips (the initial loss was about 300 pips but price bounced upwards). This week, the bearish outlook on the market remains valid as further bearish movement is anticipated. USDJPY Dominant bias: Bearish This trading instrument went downwards on Monday and Tuesday; and then made effort to go upwards on Wednesday, Thursday and Friday. All this happened in the context of a downtrend, which is expected to continue this week, for the outlook on JPY pair is very bearish for the week. Thus, the demand levels at 109.50. 109.00, and 108.50 would be tested this week, as price goes southwards. EURJPY Dominant bias: Bearish The EUR/JPY cross is bullish in the long-term (though the long term-bullishness is now being threatened), and bearish in the short-term. Price dropped 150 pips last week, to test the demand zone at 123.00, after which it moved sideways for the rest of the week. Things are currently volatile, but further bearish movement is anticipated (just like on other JPY pairs); and thus, the demand zones at 123.00, 122.50 and 122.00 could be breached. This forecast is concluded with the quote below: “If you have a strategy that works, stick to it.” – James Altucher

AUS200 Dominant bias: Bearish On this market, a bearish signal was generated last month, when the market lost over 23,000 points. This has resulted in a Bearish Confirmation Pattern, as this month was also opened on a strong bearish note. The market has lost more than 10,000 points this month, and this is just the beginning. In June, it is expected that AUS200 would lose at least, 20,000 points (10,000 points having been lost already). Thus, the support lines at 5630.00, 5600.00 and 5570.00 would be targeted and possibly be exceeded as the market goes further southwards. SPX500 Dominant bias: Bullish SPX500 consolidated from May 3 to 16, and then nosedived to test the support level at 2346.0. After that, price assumed a strong bullish movement as it rose over 800 points, ending May on a strong bullish note. SPX500 has done nothing significant this week, save roughly sideways movement – in the context of an uptrend. The current consolidation may continue for the next several trading days, but when momentum rises, it would most probably favor bulls as price goes further north. The bullish bias on the market is far from being over. US30 Dominant bias: Bullish US30 as usual, is normally correlated with SPX500. The movement in the market in May, plus what has happened so far this month, is quite similar to the movement on the SPX500. Price consolidated between May 2 to 16, and then pulled back to test the accumulation territory at 20496. More pullback was rejected as price rose by roughly 600 points, seeing the month of June start with a strong bullish propensity. Nonetheless, the market has not done anything significant after that, save the ongoing sideways movement in the context of an uptrend. There would soon be a breakout which would most probably favor bulls. GER30 Dominant bias: Bullish This is a bull market, but things are quite rough. The last 2 weeks of May were particularly choppy, with no directional movement. Should the current condition of the market continue for the next several trading days, the bias on the market would become neutral in the short-term (whereas the long-term bias would remain bullish, as long as the market does not lose 5000 points from here). In spite of the extant choppy condition, the outlook on GER30 remains bullish for the month of June. So, price would eventually go towards the initial supply levels at 12850.0, 12900.0 and 12950.0. The first two supply levels were previously tested. FRA40 Dominant bias: Bullish FRA40 was caught in an equilibrium phase in the last 2 weeks of May, while the bullish bias on the market remained intact. In June, a bearish signal has been generated in the short-term, while the long-term bias remains bullish (but threatened). The short-term bearish signal was caused by a 700-point bearish movement that occurred since the beginning of June. A movement towards the demand zone at 5090.0 would invalidate the dominant bullish bias, though that would require a heavy selling pressure in the market. A serious movement to the upside would override the short-term bearish signal in the market, and strengthen the dominant bullish bias.

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair consolidated in the first few days of last week, and then went slightly upwards. On Friday, price closed above the support line at 1.1250, targeting the resistance line at 1.1300. The outlook on EUR pairs, however, is bearish for this week, which means that EURUSD could experience a serious pullback before the end of the week. Before that happens, price would continue making some visible bullish effort. USDCHF Dominant bias: Bearish USDCHF went bearish last week, losing at least, 110 pips. The market has lost 460 pips since May 11, and that has caused a Bearish Confirmation Pattern to form in the chart. On June 2, price closed below the resistance level at 0.9650, going towards the support level at 0.9600, which is the first target for the week. The second target is the support level at 0.9550. The market is expected to continue going further and further southward, until EURUSD would experience a clear pullback, something that would cause USDCHF to spring upwards. GBPUSD Dominant bias: Bullish GBPUSD is bullish in the long-term, but neutral in the short-term. In the short-term, price simply fluctuated without taking a specific direction. The situation may change this week as price goes above the distribution territory at 1.3050 to continue the long-term bullish bias; or goes below the accumulation territory at 1.2700, to form a new bearish bias. Price must thus go above the aforementioned distribution territory (1.3050) or accumulation territory (1.2700) before a directional bias can occur. USDJPY Dominant bias: Bearish There is a bearish signal on this currency trading instrument, and price may continue going downwards to test demand levels at 110.00, 109.50 and 109.00. Price went sideways last week, but became conspicuously bearish on Friday. Rally attempts may happen along the way, but they are expected to be transient (not being able to form a bullish bias on the market), because the general outlook on this trading instrument, as well as other JPY pairs, is bearish for June. EURJPY Dominant bias: Bullish The EUR/JPY cross is bullish in the long-term, and neutral in the short-term. Price generally went upwards in May; though it is yet to do anything noteworthy this month. The demand zone at 123.50 was tested last week before price went upwards by 180 pips, going above the demand zone at 125.00 briefly and then closing below it on Friday. As long as EUR is strong in itself, this cross would maintain some form of bullishness; otherwise it would eventually tumble. This forecast is concluded with the quote below: “If you haven’t already experienced sideways market types for yourself, you will soon discover that they occur a lot more frequently and go for longer periods of time than most new traders realize. If you know how to trade in sideways conditions, you will find plenty of opportunity and you’ll also dramatically boost your chances for long term trading success.” – Dr. Van Tharp

GOLD (XAUUSD) Dominant Bias: Bullish Gold began the current bullish movement on May 9, 2017 forming a bullish bias on the market. Price is currently above the support level at 1270.00, going towards the resistance level at 1280.00. Before May 9, 2017, there was a severe selling pressure in the market, but that May loss has now been fully recovered. In June, the outlook on Gold is bullish, for price is expected to go higher and higher. The initial target is located at the resistance level of 1295.22, which was the high of April. There is a possibility that the initial target would even be exceeded. SILVER (XAGUSD) Dominant Bias: Bearish Silver is also bullish, now above the demand level at 17.2000. The market went bearish from April 17 to May 9, 2017. However, further bearish movement was rejected at 16.0613, as a serious bullish movement began, which has held up until now. There is a Bullish Confirmation Pattern in the market, which signals more northwards journey. Price is supposed to gain a minimum of 10,000 pips this month, but the ultimately target that is unlikely to be exceeded is the high of April – 18.6493. The bullish expectation does not rule out probabilities of temporary pullbacks. BITCOIN (BTCUSD) Dominant Bias: Bullish This market, which is becoming more and more popular, has recently experienced maniacal volatility. Both the long-term and the short-term biases are bullish. Price has been going upwards from the beginning of this year, topping at 2797.27 on May 25. That was followed by volatile bearishness which lasted till the end of May. Bitcoin is now less volatile when compared to the last several days of May; plus price has been moving up gradually. The market is expected to go upwards in June, recovering the loss it suffered in May. The aforementioned high (top) of May could be reached or exceeded.

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair consolidated last week, moving between the resistance line at 1.1250 and the support line at 1.1150. The resistance line at 1.1250 was tested several times, but it could not be broken to the upside, owing to the ongoing consolidation. A breakout is anticipated before the end of the week, which would most probably favor bulls as the resistance line at 1.1250 is broken to the upside, but the outlook on the market is bearish for June 2017. It should be noted that certain EUR pairs may not go bearish in June. USDCHF Dominant bias: Bearish This pair went sideways last week, in the context of a downtrend. Price oscillated between the support level at 0.9700 and the resistance level at 0.9800. The support level at 0.9700 was tested several times and it could not be breached to the downside – and that is exactly what would happen this week – a breakout to the downside. This week, the Greenback would be weak while the Swissie would be strong: Hence further bearish movement in the market as the support level at 0.9700 is broken to the downside. This trend would reverse when EURUSD plummets in June. GBPUSD Dominant bias: Bullish GBPUSD is bullish in the long-term, but bearish in the short-term. The market was caught in an equilibrium phase from Monday to Wednesday, and then went southward on Thursday and Friday, dropping 200 pips from the distribution territory at 1.3000 to the accumulation territory at 1.2800 (a well-anticipated occurrence). The outlook on GBP pairs is bearish for this week and for the month of June. Markets would generally be quiet in June, but GBP pairs would trend seriously, going bearish in most cases. USDJPY Dominant bias: Neutral The market is neutral in the long-term, but bearish in the short-term. There was no significant movement last week, but things could become significant before the end of this week. The demand level at 111.00 was tested many times last week, and without success. The most probable movement is southwards, as the demand levels at 111.00, 110.50 and 110.00 are breached to the downside. EURJPY Dominant bias: Bullish There was no significant movement on EURJPY last week, save price went slightly bearish on Friday, in the context of an uptrend. The markets would generally be quiet in June 2017, while JPY pairs trend seriously nonetheless (just like GBP pairs). The outlook on JPY pairs is bearish for June; plus the most probable direction is southwards. EUR/JPY would go downwards by at least, 300 pips within the next two weeks, and that would lead to the end of the current bullish bias.

The problem of trading in uncertain times crept up on the Mentor Program Alumni forum and I have been thinking about my answer. The original answer I gave is shown below – I think one of the things you need to be able to do is to define what uncertainty is. If you opt for volatility as a proxy for uncertainty then you see something quite interesting. The VIX which is known as the fear index and should reflect uncertainty is actually at sitting somewhere near its long term average, indicating that the players who make up this index don’t actually see any uncertainty and are not asking for an increase in the risk premium they demand. The same is true if you look at the historic volatility in the Dow which is also sitting at a 9 year low. From my perspective is the issue is not uncertainty in markets but uncertainty in decision making that is brought about by listening to external sources. If you switched off the news and all the associated commentary and simply looked at markets what would they tell you? What has caused me to think further about this overnight is the notion of what actually is the uncertainty that is being referred to. Is it a true physical uncertainty or a psychological perception brought on by exposure to the narratives of others? I had a look at Wikipedia for a more formal definition of uncertainty and it gave the following – Uncertainty is a situation which involves imperfect and/or unknown information. However, “uncertainty is an unintelligible expression without a straightforward description”.[1] It arises in subtly different ways in a number of fields, including insurance, philosophy, physics, statistics, economics, finance, psychology, sociology, engineering, metrology, and information science. It applies to predictions of future events, to physical measurements that are already made, or to the unknown. Uncertainty arises in partially observable and/or stochastic environments, as well as due to ignorance and/or indolence. You will notice that the definition holds at its core the uncertainty inherent in predicting future events. In fact the science of probability is based around trying to deal with the fact that the universe is an uncertain place. However, uncertainty is the default setting in trading – the outcome of all trades is unknown until they are closed. It is this uncertainty that gives us the potential to be profitable, investments that have known or certain outcomes have no risk premium attached as such they offer little in the way of return (think bank deposit). This definition is therefore of little use in unpacking the notion of a change in traders uncertainty quotient. Granted we can respond to changes in volatility and we have tools to measure this but this is a reasonably common occurrence in trading and there are strategies that can be put in place to deal with this. In fact very basic position sizing and volatility based stops self-correct to deal with this sort of problem. So I am drawn back to the idea that what actually changes is the tone and intensity of the narratives that people surround themselves with. This ever increasing crescendo of noise is bound to take an effect on peoples psyche particularity at present when the world appears to be spinning out of control. However, notice I used the expression appears, I used this term because appearances and reality are not the same thing. What brings some equilibrium back to the noise of others is as always context, the markets tell a completely different story. Whilst the breathless gibbering that is the media may consider the present to be the most troubled time in history and need to shout about it at every opportunity neither that markets nor history itself would agree. This is the most salient point for traders with regards to what is considered uncertainty. Uncertainty is the environment within which we operate as a broad observation but beyond that it is actually the markets themselves that define what actually uncertainty is and they can do this by readily accessible metrics. When volatility and in turn risk premiums increase then we can say that uncertainty has increased. However, even here people try inject their own primitive narrative into events as the VIX which is a widely known measure of volatility is referred to as the fear index when it is nothing of the sort. However, this is the natural human desire for drama, we all have a friend or relative who is addicted to drama and those in the news media, particularly the financial arena and prime diva’s. So if you find yourself believing that uncertainty has increased but markets don’t agree then you will need to do something about what leaks into your brain. Author: Chris Tate Article reproduced with kind permission of: Tradinggame.com.au Traders’ Mindset: Advfnbooks.com/books/insights/index.html

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair went upwards by 290 pips last week, putting greater emphasis on the recent bullish bias that has formed this month. Price closed slightly above the support line at 1.1200 on Friday. The bullish momentum is currently strong, and the resistance lines at 1.1250, 1.1300 and 1.1350 may be tested this week. This however, does not rule out possibilities of pullbacks in the market, because EUR would rise against some currencies while falling against others. USDCHF Dominant bias: Bearish USDCHF plummeted last week, losing 280 pips and closing below the resistance level at 0.9750. Price has fallen by 340 pips since May 12, and further fall is expected this week. The support levels at 0.9700, 0.9650 and 0.9600, may be tested this week, owing to the Bearish Confirmation Pattern in the market. USDCHF would continue to trend southwards as long as EURUSD journeys northwards. GBPUSD Dominant bias: Bullish GBPUSD was able to maintain its bullishness last week. The market closed above the accumulation territory at 1.3000 on Friday, going towards the distribution territory at 1.3050 (which may be tested or even breached to the upside). On the other hand, there is also a possibility of a deep bearish correction this week, because bearish movements may occur on certain GBP pairs, and the ripple effect may affect GBPUSD. USDJPY Dominant bias: Bearish The market went bearish last week, thus invalidating the bullish signal that was formed earlier this month, and creating a new short-term bearish signal. Price has dropped roughly 290 pips last week, slashed the demand level at 110.50, and closed above the demand level at 111.00. The demand levels at 110.00 and 109.50 may try to reject any meaningful bearish movement, for the outlook on JPY pairs is bullish for this week. Some form of reversal may be witnessed in the market. EURJPY Dominant bias: Bullish This cross pair is still bullish, while being volatile in the long-term. Price has formed a zigzag pattern in the market: It went up on Monday and Tuesday, came down on Wednesday and Thursday, and then went upwards again on Friday. The present “buy” signal can push price towards the supply zones at 125.50, 126.00 and 127.50. These targets might even be exceeded, especially given the expected bullish movements on JPY pairs. This forecast is concluded with the quote below: “New and creative trading ideas are important for a trader to be able to stay ahead of the crowd, so doing whatever you can to prepare your mind to consider new ideas will help to develop creative trading strategies that are essential to profitable trading.” – Joes Ross

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair is bullish in the medium-term, but neutral in the short-term. Price tested the support line at 1.0850, closing above the support line at 1.0900 on Friday. A movement above the resistance line at 1.1000 would strengthen the existing bullish bias, while a movement below the support line 1.0700 would threaten it. This week, further pullback is possible, but EURUSD would not go really bearish until the support line at 1.0700 is breached to the downside. USDCHF Dominant bias: Neutral USDCHF moved upwards by 230 pips last week, almost testing the resistance level at 1.0100, and then pulled back towards the support level at 1.0000. The upwards movement of the first few days of last week has overridden the last short-term bearish signal, and the pullback that was seen on Friday has scuttled the bullish effort of last week. Both the bull and the bear would not gain upper hand until price goes seriously out of balance. A protracted movement is needed to form a directional outlook. GBPUSD Dominant bias: Bullish The outlook on the Cable remains bullish, though price consolidated throughout last week. Further consolidation could result in a neutral outlook. The accumulation territory at 1.2850 has been tested and it may be breached to the downside. The current price action shows more and more noticeable weakness in the bullish trend, thereby increasing chances of a large pullback this week, especially when the accumulation territories at 1.2850 and 1.2800 are breached to the downside. USDJPY Dominant bias: Bullish This trading instrument initially went upwards last week, briefly going above the demand level at 114.00. Price got corrected lower by 80 pips on Thursday and Friday. The bias on the market is bullish, and it would remain so as long as price does not go below the demand level at 112.00. There is a possibility that the supply levels at 113.50, 114.00 and 114.50 would be targeted this week. EURJPY Dominant bias: Bullish EURJPY went sideways last week, in the context of an uptrend. There was a movement between the demand zone at 123.00 and the supply zone at 124.50. A rise in momentum is anticipated this week, which would emphasize the current Bullish Confirmation Pattern in the market, especially when the supply zone at 125.00 is overcome. The bullish bias would be jeopardized when price goes below the demand zone at 122.00. This forecast is concluded with the quote below: “I’ve always believed that on every trader's journey, emotions are nice companions but lousy guides…This phrase is meant to remind us that life would be pretty darned boring if we never experienced any emotions. But more importantly in trading, decisions made when we are in a non-productive emotional state will likely produce results we don’t like. That’s where a great trading system comes to the rescue. It gives us a framework to calmly and coolly evaluate situations and make the right moves…” - D.R. Barton, Jr.

When I first went to university the initial week was filled with the usual getting to know the lay of the land such as how the library works (in a surprisingly mysterious way I might add), where various labs where and what the protocol for various subjects was. One of the most striking events was an orientation lecture we had in one subject. The lecturer who went onto to be one of my favourites because he knew his stuff, was blunt in his delivery and told students the truth. The last one of these characteristics would now not be tolerated because apparently telling students that they failed because they didn’t get off their arses would now be considered bullying or some form of oppression or would require the student to curl up in a foetal position in one of their safe spaces. He opined that the easiest way to survive first year was to turn up and do the work – if you did that then the chances were pretty good that you would get through. Do a bit more than that and you would do well. This must have been a friggen revelation to a large proportion of my year because over half failed the year. Much to their surprise simply hanging around the university cafe and the pub across the road did not magically allow the collective wisdom of those at the university to seep into their brains as if by a process of osmosis. The reason for me reminiscing about events locked in my dim dark past is simple – this pattern of laziness repeats itself year after year, decade after decade in people and people still wonder why their lives are like they are. Let me give you an example that is close to home. During our Mentor Program we generate a lot of content, each step of the course is mapped out to the day in such a way as to take someone from being a complete novice in the market to a competent trader at the end of six months. In effect, we make a pact with those doing the course, we will tell you everything we know with nothing held back and you commit to putting the time in to absorb what you are being told. To my way of thinking it is a fair deal besides you have paid for it so that should be sufficient motivation to put some effort in. Intriguingly some – many believe that simply looking at the notes occasionally and not putting in any effort at all will somehow translate into success. We are now several weeks into the course and there are attendees who have logged in twice. Yet I can imagine that they are completely surprised at their inability to master the most basic of trading concepts. Or that they have not instantly be transmuted into billionaires via some alchemic process. Central to all of this is the notion of how success in any arena is achieved. It should not be surprising that to achieve anything in any field you choose requires a certain amount of commitment and toil – this is simply the nature of the universe. Think of success as a natural system, it requires the addition of energy to keep it viable. If the system is not constantly restocked with effort, then eventually it will collapse. Yet, this lesson is lost on so many people who assume that either simply paying for something (think gym membership that is never used) or paying lip service and offering the usual platitudes will assist in mastering a task or achieving a goal. Harking back to my early days in first year there was one thing that was almost universal in those that failed. It was always someone else’s fault and that seems to be something that is universe among those that do not put in the effort. Author: Chris Tate Other quotes from professional traders are below: “The internet has been a boon for those seeking information. Within seconds you can find information on just about any subject that you want to know more about. Unfortunately, there is also a lot of misinformation mixed in with the results. This is very true in the trading world.”- Trading educators “The internet is an amazing thing – there are thousands of trading strategies described in forums, social media and YouTube videos etc. But how do you know if they work? The answer is much simpler than it seems. Test the strategy properly!” - Jasper Lawler “Listen don’t tell because the market cannot hear you… Trading is a profession where the ability to delay gratification is paramount to your success. Delaying gratification means that you can hold onto winning positions for longer.” – Chris Tate “This is the most salient point for traders with regards to what is considered uncertainty. Uncertainty is the environment within which we operate as a broad observation but beyond that it is actually the markets themselves that define what is actually uncertainty and they can do this by readily accessible metrics.” – Chris Tate Posted by: Tallinex

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair went sideways from Monday to Wednesday, and then started rising upwards on Thursday, in the context of an uptrend. Price is now very close to the resistance line at 1.1000. This week, it is possible for the market, and other EUR pairs, to open with gaps, owing to the events surrounding French presidential election. Should gaps occur, they would be followed by high volatility and strong movements. While the resistance lines at 1.1000, 1.1050 and 1.1100 could be tested, chances of considerable pullbacks within the next several days are increasing. USDCHF Dominant bias: Bearish USDCHF went lower last week, moving between the resistance level at 0.9950 and the support level at 0.9850. The bias is bearish, and price could go lower as long as EURUSD goes upwards. Eventually, USD would manage to gain some strength, either before the end of the week or at the beginning of next week, which would reverse the movement of USDCHF (as EURUSD is weakened). There must be a movement above the resistance level at 1.0000 in order for the current bearish bias to be threatened. GBPUSD Dominant bias: Bullish In the context of an uptrend, Cable consolidated from the beginning of last week, till Wednesday, and then trended further upwards on Thursday and Friday. Price closed above the accumulation territory at 1.2951, going towards the distribution territory at 1.3000. Once that distribution territory is breached to the upside, other distribution territories at 1.3050 and 1.3100 would become next targets, because the outlook on the market remains bullish for this week. USDJPY Dominant bias: Bullish USDJPY went upwards by more than 140 pips last week. Since April 24, price has gained more than 300 pips, which has resulted in a clean Bullish Confirmation Pattern in the market. The supply level at 113.00 has been tested and it would be re-tested, as price goes above it, targeting another supply level at 113.50 and 114.00. In May, JPY pairs could turn bearish, and that happens, the current bullishness in the market would be gotten rid of. EURJPY Dominant bias: Bullish Last week, this cross moved upwards by 250 pips. Price has gained 500 pips since April 24; plus the supply zone at 124.00 is currently under siege. Once the supply zone is breached to the upside, price would go towards the supply zones at 124.50, 125.00 and 125.50. There would be temporary pullbacks along the way, which should not overturn the current bullish bias, unless the pullback makes price lose at least, 300 pips. This forecast is concluded with the quote below: “I trained myself to think of trading as an endeavor in which I strive to make points. Only later are those points translated to dollars. In that sense, for me trading is making point.” – Joe Ross Source: http://www.tallinex.com

AUS200 Dominant bias: Bullish This market is bullish as well as volatile. Price swung wildly upwards and downward in April, and it has started pulling back again this week (all in the context of a bullish bias). This month, the volatility would continue as price continues its wild upswings and downswing, while the general movement would be bullish. From the low of April (5912.92), price is expected to gain at least, 5,000 points this month, breaking one resistance line after another. However, this is going to be a pyrrhic victory because bearish forces would constantly cause transient pullbacks, which would be large in some cases. SPX500 Dominant bias: Bullish SPX500 has been able maintain its bullish trend so far. In April, price dropped roughly 650 points, reaching a low of 2299.7 on April 12. The market has gained about 930 points since then, emphasizing its bullishness. It is possible for new highs to be made this month, though there could also be temporary bearish corrections along the way. The bearish corrections are not expected to take price below the support level at 2299.0, which is a formidable support level indeed. In the next several months, the market would probably enter into an extended equilibrium phase, which would be in the context of an uptrend. US30 Dominant bias: Bullish US30 experienced three flash crashes on April 6, 10, and 13. It is interesting to note that the three flash crashes were all contained at the accumulation territory of 19277 (The only two major pullbacks that occurred on SPX500 on April 12 and 13 were each contained at the same support level of 2299.7). So, the accumulation territory at 19270 has become serious barrier to any future bearish trends. From the low of 19277, US30 has gained 1700 points. The market is supposed to go further north this month, reaching an initial target at the distribution territory of 21065, which was the high of April. GER30 Dominant bias: Bullish This market has been in a persistent bullish trend since the middle of 2016, and price has gained roughly 9,800 points this year alone. In April, price went south from the beginning of that month till April 18, after which it started journeying upwards again, gapping up massively on April 24, and sprinting further north. There are huge Bullish Confirmation Patterns in the 4-hour and daily charts, which predict further gains this month. Price is already at the highest that has been seen this year, and it may go towards the supply levels at 12550.0, 12600.0 and 12650.0. FRA40 Dominant bias: Bullish FRA40 moved sideways within April 4 – 12; and went visibly bearish from April 13 to 18, after which it began to trend upwards. There was a gap-up on April 23, which has never been filled, because price went further upwards, closing at 5264.0 at the end of April. This month, price has gone beyond the closing price of April. As there is a clear bullish outlook on the market, it may gain a minimum of 1000 points this month (amid stealth attacks from bears). Price could enter a prolonged sideways movement within the next few months, but the bullish outlook on it would remain intact. Source: http://www.tallinex.com

GOLD (XAUUSD) Dominant Bias: Bullish Gold is bullish in the long-term and bearish in the short-term. Price went upwards from April 3 to 17, and then began to be corrected lower. The lower correction has not been significant enough to override the recent bullish bias on the market. However, several more days of bearish movement would result in a Bearish Confirmation Pattern in the market, just as it is on Silver. Therefore, the most probable movement for May is bearish, as price goes towards the support levels at 1240.00, 1230.00 and 1220.00. These are the targets for May and June. SILVER (XAGUSD) Dominant Bias: Bearish Silver is now a bear market, with a southwards movement far stronger and faster than that of Gold. Price swung upward and downwards wildly within April 3 to 17, and then dropped precipitously, losing over 18,000 pips within two weeks. Long trades are currently illogical in the face of ongoing selling pressures in the market. This month, the demand levels at 16.5000, 16.0000 and 15.5000 would be breached easily as price goes further southwards. Any rallies seen along the way should be ignored, and rather taken as good short-selling opportunities. BITCOIN (BTCUSD) Dominant Bias: Bullish This is a roaring bull market. After the volatile bearishness that was experienced in March, price went seriously upwards in April. From the low of March 25 till date, price has gained more than 50,000 pips, and this seems like just the beginning. The strong Bullish Confirmation in the market points to further northward rally, which would take price higher and higher within the next few months. True, there may be some volatile bearishness as was seen in March, but subsequent recovery would be quick as price trends further northward. The initial target is at the distribution territory at 1500.00. Source: http://www.tallinex.com

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish Last week, this pair opened with a massive gap-up, which also happened on other EUR pairs. Price managed to reach the resistance line at 1.0950, and then consolidated till the end of the week. The gap-up has forced a bullish bias to appear, but this may not last long because EURUSD are expected to become weak this week. While there are resistance lines at 1.1000 and 1.1050, the support lines at 1.0900, 1.0850 and 1.0800 could be tested this week. USDCHF Dominant bias: Bearish USDCHF is in a short-term bearish mode, and price consolidated last week in the context of that short-term bearish mode. Within the last several days, price has not been able to move above the resistance level at 1.0000 or below the support level at 0.9900. A movement above the resistance levels at 1.0000 and 1.0100 would result in a Bullish Confirmation Pattern, while a movement below the support levels at 0.9900 and 0.9800 would reinforce the existing bearishness in the market. GBPUSD Dominant bias: Bullish Last week, price consolidated from April 24 to 26 and then resumed its upwards journey, which was started on April 10 (although the most significant bullish movement occurred on April 18). The distribution territory at 1.2950 was tested on Friday before the market closed. Since April 10, price has gone upwards by 570 pips, and this is just the beginning, because there is a strong Bullish Confirmation Pattern in the market, and because the outlook on GBP pairs is also bullish for May. There may be some bearish attempts, but the bullish bias might survive till the end of May. USDJPY Dominant bias: Bullish USDJPY also opened with gap-ups at the beginning of last week, just as other JPY pairs did. The gap-up forced a bullish signal to form as price went further upwards, testing the supply level at 111.50. The bullish bias might hold for a few more days, (reaching the supply levels at 112.00, 112.50 and 113.00 at most), but the outlook on USDJPY is bearish for this week and this month. A major pullback would eventually happen. EURJPY Dominant bias: Bullish Last week, the market opened with an upward gaps, which was not filled because price even went further upwards on Tuesday, almost testing the supply zone at 122.00 and consolidating till the end of the week. This cross might go upward a bit further; though there is a high probability of strong selling pressures occurring this week and this month, which would override the current bullish signal. The outlook on JPY pairs is seriously bearish for May. This forecast is concluded with the quote below: “Today, I am a full-time active private trader and I am thankful that trading has eliminated the need for me to re-enter the corporate world. I’m also a full-time Mum to two fabulous kids who are benefiting from the time I’m now able to spend with them every single day… Really, this is a profession you can enter regardless of your educational background.” – Louise Bedford Source: http://www.tallinex.com

It may seem a contradiction to say that you don’t want to pay attention to the profit of a trade. In fact, many of you might be saying that this guy must be smoking rope to say that profit is unimportant. Well, to clarify, that is not what is being said. Of course, profit is one of the main reasons why you are involved in trading in the financial markets. However, when we discuss how you will garner your mental and emotional resources in order to become consistently successful, profit (in any one trade) is not where you want your focus to be. Profits come as a result of “probabilities” over a series of trades. In fact, profit can be a major distraction and the cause of erratic behaviors that beget unwanted results. Let’s face it, results, consistent positive results, are what you want.Tweet: Let’s face it, results, consistent positive results, are what you want. Anything else is unacceptable. So, your main trading trajectory must encompass this reality. Consistently successful trading requires a laser focus on what-matters-most; alignment of body, mind and emotions; and an ability to be truly disciplined, for starters. Honing your trading process and the focus of your trades. The Distraction of Trading Profits Let’s look at how focusing on profit can position you to attract the very undesirable results that you want to avoid. Profit is transient which means that it is not only variable but it is random to the point of being capricious. No matter how good your methodology, you cannot predict what price action will do. The only thing that is certain about the markets is that they are unpredictable. Due to this level of randomness, profit is an extremely inefficient data point to measure against results. In fact, one of the worst things that can happen to you as a trader is to be profitable early in the game before you intimately know your strategy. This type of profit is almost invariably luck. Luck is totally unsustainable; and in your attempt to replicate these results you will reinforce bad rule violating behavior that is very hard to halt, creating many more losses as you attempt to extricate yourself from that abyss. Furthermore, when you focus on profit alone, your attention is fragmented and your mental state is susceptible to distorting data due to a confirmation bias (the tendency to only perceive information that confirms your limiting beliefs about the current market and consequently denying information that is contrary but critically important). Actually, you want to approach the trading process with your eyes wide open and embracing the fact that any trade can lose, and some will. No matter how strong your strategy, you must accept the randomness of the markets and therefore be very serious about protecting your capital; in other words, using and relying on your stops. In this way, you will begin to manage your fear…a very important skill. One of the facts about consistently successful traders is that many of them have blown up accounts; and they came back. When this happened, they realized that the world didn’t come to an end and developed a deeper appreciation for the importance of their stops. They created consistency in planning their trades, trading their plan, following all of their rules, and thereby developed the capacity for emotional strength and endurance in the trade. Trading is a process oriented endeavor for those who are serious about becoming and remaining a consistently successful trader. In any one trade, it is not about the outcome. You must remain dispassionate about that and reserve all of your focus to be honed on what you are doing and how you are doing it. This is what we teach in Mastering the Mental Game online and on-location courses. Ask your Online Trading Academy representative for more information. Also, get my book: From Pain to Profit: Secrets of the Peak Performance Trader. Joyous Trading Author: Dr. Woody Johnson Article reproduced with kind permission of the author. Source: http://www.tradingacademy.com/lessons/article/focus-trading-process-not-money/ The article is ended with more helpful quotes: “One of the biggest mistakes that newbie traders make is to give up on a trading strategy after a run of losing trades. The thinking behind doing this is understandable but very wrong. The thought is “If a strategy is losing trades, why keep doing it?” The point is that every trading strategy has losing trades!” – Jasper Lawler “Always keep in mind that trading is mainly a mind-game playing probabilities. Try to find a strategy that you understand and that fits to your personality and possibilities and then try to build the trade management together with the risk management around it. This will lead to much better results then searching for the best entry technique of all times.” – Andy Jordan “Trading is not for anyone who has an unquenchable thirst for certainty. Uncertainty in trading is co-equal with insecurity.” – Joe Ross “However, the truth is probably like most things somewhere in the middle and eventually with a level playing field (which there will probably never be) it comes down to the individual. In part this is why I like trading, it is a reflection of who you truly are, not what your circumstances have made. The market has no idea where you are from, what your social status is, your colour, your religion or your sex. It merely knows whether you have the attributes of a good trader or you don’t.” – Chris Tate http://www.tallinex.com wants you to make money from the markets