Trading Plan – Monday 13th July 2020: Covid infections, BS and facts

Mark NugentJuly 2020, Trading Plan

Trading Plan – Monday 13th July 2020: Covid infections, BS and facts

Last week saw limited price movements in all asset classes with the exception being GOLD which reached a new all-time high. I managed to trade it successfully for a gain of 2.62%.

In the video, I have a small rant about the media’s handling of the Covid figures and then consider whether the market reacts to the bullshit headline infection numbers (good headlines, bad facts) or the underlying infection rate (bad headlines, maybe good news). Last week, for example, the market focused on the bullshit. But the market is what it is, and we need to trade what it sees, not the facts.

This week sees three Central Banks provide rate decisions and statements. No interest rate changes are expected. The statements are the critical elements and have the most potential to move the market.

I’ll be looking for equity breakouts, GOLD gains, strong EUR and sentiment-driven forex moves.

Have a great week.

VIP Club members can watch the video HERE