Like all good things, our long weekend has come to an end. Happy Tuesday Traders! I’m RP Forex back with another live session. In today’s live session we discuss our beautiful GBPJPY short that was analyzed during yesterday’s live session. This trade was trading with the trend, and brought us an additional +110 pips on top of the 50 or so we obtained from EURUSD.
Additionally, our Gold long setup played perfectly and is en route to 1550. That is another 200 pips that could have been bagged for those that trade Gold. We do have a ton of fundamentals for the remainder of the week so as always, we will take a calculated approach to what kind of trades we take and how many.
In terms of trade setups for the remainder of the week, I did a live analysis and signal call of USDCHF shorts. We are expecting a weaker dollar and pound, but a strong yen. So most of our setups will take advantage of such sentiment. Obviously, the fundamental releases this week can change all of that, so we will stay fluid with our biases.
As always, I will see you all tomorrow on my favorite trading day, Wednesday at 11:00 AM EST for another live session. Take care.