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Summary
Many traders are familiar with the double top and the double bottom formation. However, the market doesn't always print a double top or double bottom every time it advances toward a significant level of support and resistance. It is sometimes difficult to know whether or not the market will reverse once it reaches a critical support and resistance level. In this session, we examine two specific "special case" versions of the double top and the double bottom formation. Not all double top and double bottom formations will fit these patterns, however. But this is precisely the point. By using naked trading principles you can restrict your entries to only those double top and double bottom formations that are likely to work out in your favor. You'll also learn when the market is hinting to you that it is going to break through the support or resistance level -- because there are usually a few clues that make this very clear. In the last half of the webinar we will take a look at the live markets and answer your questions, from a naked trading point of view.Latest Live Videos
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EUR/USD holds below 1.0750 ahead of key US data
EUR/USD trades in a tight range below 1.0750 in the European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
GBP/USD consolidates above 1.2500, eyes on US PCE data
GBP/USD fluctuates at around 1.2500 in the European session on Friday following the three-day rebound. The PCE inflation data for March will be watched closely by market participants later in the day.
Gold clings to modest daily gains at around $2,350
Gold stays in positive territory at around $2,350 after closing in positive territory on Thursday. The benchmark 10-year US Treasury bond yield edges lower ahead of US PCE Price Index data, allowing XAU/USD to stretch higher.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.