Welcome to another live session. In today’s session we went over some of the drama that went over the weekend, our Gold and EURUSD trades and potential trade setups for this week.
Over the weekend Yemeni Rebels attacked oil facilities in Saudi Arabia, which has lead to a loss of 5% of the worlds supply of oil. We had seen a huge spike on crude oil, as well as a gap down on JPY and CAD pairs. This has caused a mess on the charts so be cautious of false breakouts and do not even attempt to trade these gaps.
We usually do not enter trades on a Sunday, but last night we had two great setups available. I had called sells for both Gold and EURUSD. Earlier this morning, I had us close Gold shorts at -11 pips because Trump was starting to tweet about oil plant attack. Gold eventually dropped almost 70 pips. Luckily, we stayed in our EURUSD sell which brought in +75 pips and counting.
In terms of potential setups for later in the week, I do see the possibility of selling USDJPY from 108.141 to 107.650. We also have a similar setup on USDCAD, where we look to possibly selling the pair to 1.31550. Do take note that Wednesday and Thursday are heavily news filled days, so we will look to be in and out of trades before then.
Last week was very profitable, and we have started this week on the right foot. As always, I will see all the paid members for tomorrow’s session at 11:00 AM EST on our Portal. Happy Trading!