Trade in the Zone - 14th May 2023
Ross Maxwell
With over 20 years of experience, I am a firm believer that long-term trading success comes from mastering risk management. My background in global financial markets drives this core principle in my coaching & mentoring
Welcome back to Trade in the Zone, the Weekly newsletter from Key Zone Traders, providing?our members with insights into the markets for the upcoming week and adding more value to your trading.
We have had a break for a couple of weeks, but have lots of analysis to cover in this weeks edition, so lets jump straight in
Crypto Watch
Bitcoin is reacting from the?29600-31420?zone we have been speaking about for quite some time as the upside target for Bitcoin.
I would still expect a retest of the?24200-25600?area, although we have reacted from just in front of this zone at the moment.?The reaction here could be telling as to whether Bitcoin continues higher above the?29600-31420?zone or if there is still potentially another leg lower.
These zones have been practically the same for over a year now, which goes to show, when you know the zones to trade from, then all you have to do is observe and be patient for these areas to attract and be ready to react.
If you would like to learn more - come check out our Academy on the link below
Market in Spotlight
Again, these are the exact same zones we have been looking at on the SPX for quite some time now, and they continue to hold true.
Resistance is at?4130-4185, with sustained breaks above here seeing moves to?4280-4330
If we hold below here with some momentum, then we stay in the range and can see moves back to support at?3775-3825
The Week Ahead
Not a huge amount of news out this week to be majorly concerned about.
USD news out at 13.30 pm on Monday, Tuesday and Thursday, and some AUD news overnight on Wednesday and Thursday, means any positions in these currency pairs need to be managed ahead of the news releases.
What's Coming Up For Key Zone Traders...
Come and follow us on social media to keep up to date with everything going on at Key Zone Traders
Monday?- Our latest does of motivation
Wednesday?- The latest Trading Tip to help improve your trading education
Friday?- Reasons to Day Trade
Our latest reels on Instagram have been extremely popular, where we are releasing regular tips and educational content to our followers.
So don't forget to check us out?on our?Instagram channel?for more news and the latest tips this week
Hope you have enjoyed this?edition of Trade in the Zone with Key Zone Traders.....have a great week, and let's go?Make. It. Happen.