Why the US Election Results Matter for Forex Traders

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#568: Why the US Election Results Matter for Forex Traders

In this video:

00:24 – Trump wins the US Election with a massive win.

00:53 – Quiet price action leading up to the election.

01:40 – W1 and Shorter time frame chart trades  

02:02 – Selling Silver on the W1 charts.

03:09 – Metals dropped after the election result.

04:17 – The charts tell us what was going to happen with the election.

04:39 – My 17 minutes Masterclass and Book a Call.

05:18 – Blueberry Markets as a Forex Broker.

08:02 – Comments, Like & Subscribe.

I want to talk about the US election results and why I’m a technical trader. Let’s talk about those topics and more right now.

Hey there, Traders! Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 568.

Trump wins the US Election with a massive win.

So we’ve just had the results of the US election. This week has been a really good result. It’s been a positive result. there’s not going to be any indecision in the market now. we’re not going to get any delay in the result.

We’re not going to get any court action and recounts and all that type of thing. So from the markets point of view, it’s been a great result. And it’s been a good, strong, decisive, positive result. And that’s what the market needs and was looking for.

Quiet price action leading up to the election.

Now leading up to the US election, we’ve had a, like a quite a quiet couple of weeks, especially on the daily charts. And we’ve had that indecision and not really too much happening leading up to say, last week. And then the end of last week, we had the US monthly job news, and then the beginning of this week is all being quiet leading up to the election. Then, of course, you don’t want to be trading on the election day with potentially, you know, big moves or spreads widening and then we finally got the result and things are likely to now settle down again.

So it’s been a really interesting couple of weeks. You see the daily charts have been and the slightly longer timeframe charts like the 12 hours have been a little bit more indecisive. Not much happening there.

W1 and Shorter time frame chart trades  

However you take it out to bigger picture and the weekly charts. We’ve had some great results and then the shorter timeframe charts between, say, like the two and six hour charts, two, three, four, six hour charts.

We’ve seen some great results as well. So it’s really interesting that as a trader, you have to trade what the market’s giving you at the time.

Selling Silver on the W1 charts.

And an example would be, we’ve taken a couple of, sell trades on silver at the beginning of this week. So we’re talking, you know, like three days before the election results, we saw that XAG/USD and also, XAG/EUR were both dropping based off the weekly charts.

And so we took sell trades on both of those. We suggested to our clients, we took sell trades or, they should, look at some sell trades as well. And we’ve profited from those trades. Now, as a technical trader, I was into those trades on Monday my time or Sunday from the US. at the beginning of the week.

and so the charts were telling us from a technical point of view that Silver was going to drop. Now, how far it goes from now. I don’t really worry because I’m out of the trade for full profit. and now we’re looking for maybe another trade potentially might move back up again next week. Who knows. But we saw at the beginning of this week, before the fundamental results, we saw on the technicals that the silver was falling. We entered the trade. We’ve hit the profit target.

Metals dropped after the election result.

Now as a result of the US election, we saw a lot of the metals falling. We saw the US dollar strengthening. And that’s something that the fundamentals tell you.

You need to be willing to work at trading.  

But as you know I’ve just pointed out three days prior we already were in that position. We were shorting the metals such as Silver.

We were you know, we were long the US dollar as in shorting the silver US dollar. And so that’s exactly what we saw. so we would have seen, you know, the all of these things were pointing to the same thing on our charts long before the fundamentals. And we then, take this down to the shorter timeframe charts. We’ve seen some really good trades.

In fact, just on my webinar, yesterday, I took trades on the one hour, the two, the three and the four. And so we’ve seen some really good positions over the last couple of weeks on those shorter time frame charts as well. So it’s all about trading what you see and what the market is giving you.

But it’s all about trading the technical charts because they tell you in advance most of the time, what’s likely to happen on the fundamentals.

The charts tell us what was going to happen with the election.

So if you looked at that, you’d have seen that the result was likely to be good for the US. You would have seen, if you follow these things, that Trump was probably going to have a landslide victory.

Despite what the mainstream media in the press telling you. that’s why we don’t listen to those. That’s why we look at the charts and we we look at real news, not the, the mainstream news. And you can easily figure out what’s going on.

Now, if you’d like to, understand more about how we trade as technical traders, what I really encourage you to those two things.

My 17 minutes Masterclass and Book a Call.

One, have a look at my masterclass. It’s an on demand session. You can jump on that at any time if you’ve not already done so.

And number two, you can book a call with us and have a chat to see if we’re the right fit for each other. we don’t take on everybody. You’ve got to be the right sort of person, be in a position to want to trade properly and to invest in your education. And if you are, then great, we’re more than likely going to be a good match. But we’ll have a call and a chat with you first to see to make sure we can help you make sure that we’re right for each other.

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