there was a typo in my post. I had written 1717 instead of 2717. fixed it now. sorry!

It jumped back up towards my stop on it and got really close to it, after trumps comment on allowing governors to reopen their states in an effort to open up the economy..

We already know most of the governers dont want to reopen anytime soon. Trump is basically putting the decision on them so he cant be blamed for the outcomes of reopening the states early. If governors dont do it, then the blame for its effect on the economy will be placed on them and if they do open the states for business and more people die because of the virus they will get blamed for the deaths instead of trump.

But the thing is that the majority of people dont want to go back to work in the current condition and if they are asked to be back they will expect either a hazard pay or more health benefits from their employers and since most of those companies are already on the verge of bankrupcy they wont be able to increase wages or keep most of their staff employed without a government bailout anyways so its likely that we will see more protests from workers and a series of layoffs from big corporations despite reopening the businesses.

Eitherway, the economic data shows that we still havent even gotten close to the stock market bottoming out. The market is still in a bear phase and we will see the bear run continue over the next couple of weeks.

Im adding to my position (added today on 2875) and widening my stop placing it behind 3030.30 (to make sure its at a safe distance behind 61.8 fibo line, in case some spread manipulation happens) and will keep the shorts running for the forthcoming fall.

I think even if s&p500 closes up this week, it will gap down next week when we get more news on the states reopening or not.

#WTICrude #Oil

Despite the 20m barrel cuts from the 35m extra to demand the oil prices kept falling to their historic lows. Today the future contracts will expire and most exchanges have increased their rates a lot (some to even $7 per barrels)
So we should wait to see what happens tomorrow once these contracts are settled and we get close to 1th of May (the deadline for the agreement of opec+ coming into effect) and see how different the spot price and futures of oil are going to get.

From next week the feds are going to cut the volume of their daily cash injections from $30b to 15b!

In case you want to read more on this subject, this is a good article:
https://www.zerohedge.com/markets/fed-cut-pace-treasury-buying-again-only-15-billion-day

Holy shit!
#WTICrude < $2

Oil prices got obloterated in the biggest fall in history in one day.

We may never see these prices again.
But still, due to nonexistent demand even with opec agreement coming into effect, we cant expect very high prices in near future.

Futures contracts will be settled tomorrow night so be careful if you want to buy at these prices (rollover fee)

A member of the channel has recieved an alert message from his fund manager that he sent me now:

#Oil investors looking at headlines with WTI below $5 and thinking about buying an oil ETF, DON'T!! The price of the most ETFs reflect June at $22 and partly July at $27.4. The same fate potentially awaits both unless fundamentals recover strongly in a matter of weeks #OOTT

Its extremely unlikely for the fundamentals to change anytime soon as there is no real demand in the market. Everyone has filled their inventory with oil and dont need to buy more so the prices are going to stay low for a few months. Even with opec implementing the cuts we cant expect a high oil price in near future.

Futures price of oil went negative, if you are wondering "How did you end up with negative oil prices today?" here is a twitter thread explaining it:
https://twitter.com/RogerDiwan/status/1252324705291374592

S&P 500

I've been trying really hard to fix the payment processing problem on my website, but despite having my business registered in UK, it seems like because I'm a resident of Iran, no bank within EU or UK is willing to open a business bank account for my company and even online payment processors like Transferwise have limited their services for Iranians!
I attempted teaming up with one of my old investors so maybe having a UK citizen on the board of directors can help things, but it seems like even that won't be enough.
so now I'm pitching various angel investors and VC firms to get funding for my startup to maybe get endorsements for a startup visa and move out of Iran to grow the business more easily.

In the meantime, I'm going to start with signal service from next week and only send out signals on short time frames (H1 and 15M charts)
naturally these time frames are harder to follow if you don't pay constant attention to the bot waiting for signals to come in, which is why I was hesitant to send signals and wanted to wait until the copy-trading platform is ready to replace it. but the way things are moving forward currently, I don't think its good to wait longer than I already have.

As you already know, we are in the middle of a world wide financial crisis and headed towards what may be the biggest economic depression in history. so any trading we are going to do, is going to be short time scalping trades, basically taking advantage of impulsive waves in the market. I'm going to send out a lot of signals for shorter time frames (H1 and below) along with a simple guide for what to do if you see the signals too late (finding out if its worth it to enter or not, and if so, how)
if you haven't subscribed to the bot already, here is the link: @Linorth_bot
I'm going to recharge everyone's subscription before sending out signals, and the service will be free for 4 weeks (in this time you can gauge the quality of signals and win rate etc..) but after these 4 weeks are passed, I will be disabling the free subscription and the service will be paid only.

Thank you all for following this channel and the support.

Warren Buffett says Berkshire sold all its airline stocks because of the coronavirus
https://www.cnbc.com/2020/05/02/warren-buffett-says-berkshire-sold-its-entire-position-in-airlines-because-of-the-coronavirus.html

who is ready for the new week? I'm going to start sending out signals on the bot 2 hours before london open, so make sure you are subscribed before then to get the trade management guide via the bot. its easy to join, just send the bot (@Linorth_bot) a message.


Scheduled events for this week (potential high volatility):

Tuesday, 5 May
07:30: AUD – Cash Rate
09:30: CHF – CPI


Wednesday, 6 May
01:45: NZD – Unemployment Rate
15:15: USD – ADP Non-Farm Employment Change


Thursday, 7 May
14:00: GBP – BoE Official Bank Rate


Friday, 8 May
15:30: CAD – Employment Change
15:30: CAD – Unemployment Rate
15:30: USD – Non-Farm Employment Change
15:30: USD – Unemployment Rate


All times are GMT+3.

I have renewed everyone's subscription for 4 weeks. sent out an announcement via the bot, if you have gotten it then the bot is working for you just fine and you'll be receiving signals the same way.
there are still a considerable number of users who talk to the bot for some reason! 😅 its not that advanced yet guys.. all it understands is your email address when you want to register!

Registration is also very easy, you send the bot a message, it asks for your email, you provide the full email address "example@website.com" and it will email a verification code to that address, once you send the bot that verification code your registration is complete and you can activate the 1 week trial.

I'm working on updating the bot with a user interface so you can have some buttons to check your subscription status and things like that so it doesn't seem this confusing.


Thank you all for the support.
lets have a great week 😎

#Gold hit the first target. but considering that Valcambi mining company in Switzerland has already gotten approval for reopening the mines we might see more selling pressure on gold. so I think even is enough from gold for today.

#Gold - H1

blue line ideal entry - 1697.75
red line stoploss - 1690.89

First target green line - 1705.13
Second target green line - 1713.21

I also realized many people have joined the bot after I have posted the signals. I'm currently working on an update to enable newcomers to recieve all the signals posted in the last 7 days when they join the bot, in order to avoid this same problem in future.
but till the new update is implemented, I'm going to forward the signals from the bot to this channel in case anyone has missed them.

#EURJPY - H1

ideal entry blue line - 116.975
stoploss red line - 117.821
target green line - 115.875

#GBPUSD - H4

Ideal entry blue line - 1.2505
stoploss red line 1.2656
target green line 1.2270