Hello dear traders, it’s Petko Aleksandrov and I’m doing a quick recap over the market early on the 8th of January 2020 because unfortunately we are ahead of a war. Iran has a stroke early this morning 2 Iraqi basis and most probably this will cause the war. Anyway, I’m not going to analyze the war. I’m not a specialist in it. I just want to show you how this affected the market and what we can expect out of it. I am at the EURUSD at the moment and this is what I’m trading with the Expert Advisors on that platform at the particular moment. And let’s focus on some of the stocks, the currency pairs – the Oil and of course the JPY. As you know when there is a war, when there is some uncertainty on the market the investors focus on the JPY. And this is considered to be the safe-haven currency. All right? You can see there is this volatility up and down, up and down for a couple of days. Now, normally what happens when there is a war or upcoming war or some uncertainty? The JPY rises. And in general, we can see that the last days USDJPY has declined. It’s just below the 20 and the 8 moving averages that I’m using. Yesterday was a huge drop that I caught some of the moves. And today it’s up again. Now I don’t have any trend line to expect below, the last trend line I had was from right over here but it was broken very impulsively. Now, I’m below. I took some of the profits yesterday. Now I am out. I just want to see what will happen in this short term if I go to M15 chart. OK?
Right over here. If I have a chance to draw some trend line or a counter-trend line right over here I will use that. Not at the moment. And let’s have a look at a GBPJPY, so you can see I have the trend line below still the price is far but the move is very similar on the daily chart. If I go back to the USDJPY and I switch to the daily chart you can see it is the same candle formation which means that these moves are caused by the JPY, not by the USD or the GBP. Now, of course, the USD will be affected because U.S. will be a part of the war. It was a hit against the U.S. bases in Iraq. EURUSD is negative. EUR is going down, the USD is going up a little bit this morning. Let’s have a look at the EURJPY. What we have there? Not the same formation. Let me just go to the daily chart. Not the same formation as we have with the GBPJPY. Very similar but you can see that the day is not so positive with the EURJPY. So definitely, I am looking at these 3 currencies at the moment and mostly I am focused on the GBPJPY. I’m looking at this trend line over here. If it gets broken definitely it will give me some opportunities to trade that short and I will put some value on the JPY one more time because it’s considered as a safe haven currency during these times. And what I have more is the Bitcoin. The Bitcoin, there was a prediction that if there is uncertainty if there is a war the Bitcoin will rise and yes it did. It broke these 2 moving averages. I had 1 position when it broke right over here at the 40 and then yesterday when the 2 moving averages crossed right here I’m using the 7 and the 40 when they crossed I opened another position, of course, I’m having those positions in different platform and now I’m looking at the levels of 9600 and the level of 9870 something because these were the recent tops but I am looking to take my profit below the round number of 9500. OK? Below these tops, because obviously, they will cause some resistance. And what more we should be focused on, of course, is the Oil. Always affected when there is something in the Arabic countries. Oil is up now. It was really hard to enter right over here for me. I went to the lower timeframes on M15, I had a couple of good counter-trend lines. One was over here. The other one was over here. OK? This one over here so I had one entry. Then here was the next entry and then I had one more entry. As you know from my courses I enter 3 times normally. So one was right here at the opening there was a gap. Then this one over here. And then this one over here my average price is at about 69.85. It’s on another platform again. I took some of the profits when the price went above $71 and then when it declines a little bit. Now, I have my position still open but I think there will be another rise of the Oil just because of the uncertainty that we have with the war. So this is what I’m focusing on the JPY, the Bitcoin, the Oil and this is what I’m trading manually and I regarding the counter-trend lines. You can see in the card up I showed that in my Professional Forex trading course how I’m using the counter trend line, works really nice but at that account, I am trading the EURUSD with Expert Advisors. Again EUR had some volatility you can see here I have 50 Expert Advisors and they are doing pretty good profit at the moment. All right, guys, thanks for watching and of course let’s hope that there will be no war and the situation there will be resolved quickly. If you like that video give it a like, share, subscribe if you want to get more of my videos on YouTube, Facebook, and all social media. Thanks for watching and the safe trading. Cheers, bye.