Welcome to ‘Lost In The Exchange’

The only newsletter you will need to navigate FX markets, stay up to date with recent trends and learn from our reliable trade ideas.

In todays copy:

Another 2 giants in the prop firm space have halted trading immediately on Thursday.

It comes with no surprise as the theme for The Funded Trader over the last few weeks has been nothing but negative on social media. Payout refusals and manually breaching accounts, it was only a matter of time to they folded.

As for the Skilled Funded Trader, there was little evidence of the same type of activity as TFT, however as we later discovered they were both run under the same parent company EastonTech, who have allegedly fired all 100+ of their employees. So I don’t expect a “comeback”.

EastonTech reportedly closed with $30million + In pending payouts.

I am not sure of their monthly average payout - but $30million seems quite substantial so dare I say it; this is has been a plan in the making for quite some time.

The prop firm space is fickle - the second you lose a little trust online, your good as finished. Unfortunately the story is the same for DeiFunding this week.

Social media is filling up with excuses from these guys also for payout delays, refusals and breached accounts.

This industry is in clear need of regulation as the biggest risk is not hitting SL’s, but actually getting paid when it comes your time.

Stay sharp when using prop firms. I am launching a new FREE channel inside my discord this week where we will share as much shady dealings from prop firms as we can to help steer you in the right direction and out of scams way.

Look out for this launching.

Gold (XAUUSD) rallies into new highs again as global tensions rise

The war in the Middle East appears to be escalating as Isreal reportedly have bombed several other Arab nations including Lebanon, Syria & Afghanistan.

Motives yet are unclear and we are not really here for that - but one thing we know for sure is, when things heat up in global politics, so does Gold.

We are seeing evidence of that as Gold taps into $2265 in the early hours on Monday.

With the strong bullish sentiment in mind, we will be watching for possible sell offs in order to get on the bull train.

However, technically, the ideal entry point is some 900 pips lower from current price action around $2140.

The market has built clear liquidity here which would in my opinion present the best opportunity for buying. It remains to be seen if we will pullback this far.

We will take the market as it comes, however any bulls entering inside the most current range run the risk of this snapping lower for an LQ run.

Approaching weekly resistance level, it's possible we get some loss of volume and rangebound price action until the next significant red folder news announcement. (ADP non-farm employment, Wed 3rd April)

As a result, GBPUSD remains under pressure during today’s session - with eyes still on the lows at 1.2500.

If you have been a regular reader of Lost in the Exchange you will realise this was a level we have been waiting on for quite some time.

Bias remains firmly short until we clear the daily lows and see how the market reacts.

If you're looking for some more in depth analysis, with entry and exits ideas, perhaps my Discord is the missing piece of the puzzle.

Inside I focus largely on utilising futures data including order flow tools, TPO and volume profile to refine entries. It’s a different take on markets from what you see in the online retail space.

Feel free to check it out: https://whop.com/cifer-strategies

Untill next week.

Trade Safe.