In today’s live trading session, we went over the trades we took this week to notch +315 pips. We then did an analysis of trades to take next week.
We concluded last week on a good note as we indicated to our members that the markets were trending again. Not to say there isn’t still some choppiness, but the markets have definitely gained a pop in its step this week. We started off the week with a long for Gold. This trade had a target of 2000 and reached 1981 for a potential gain of up to +380 pips. The next trade was for EURUSD for which we secured +20 pips before the FOMC press conference. We then ended the week off with a long for EURUSD and a short for USDJPY. Both trades combined for +135 pips.
The rest of the session was spent on preparing for next week. A look at the US Dollar Index suggests short term support at 93.00 may hold and we may see the US Dollar pullback next week. We could potentially have intraday shorts for the majors if this does happen. However, the higher timeframe shows the DXY on a collision course to its 2018 low of 89.00. Therefore, we are sticking with our plans of Gold to 2000, EURUSD to 1.20500, and GBPUSD to 1.33500. We will look for reentries to these trades on Monday.
It’s good to be back at our +300 pips per week average. We hope all of our members had a great trading week. The FOMC rate statement this week aided the trending market that we are seeing as investors now have a clear idea on the US Dollar. We have some amazing setups for next week that we will give another look at on Monday. We hope you all have a great weekend!
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