In today’s live trading session, we went over how our trading week went, and then we found a trade idea for EURNZD.
This week was fairly slow for us but we were still able to make some profit. Our first trade was a short for USDJPY. This trade hit our first take profit, but then stopped our remaining position at breakeven. This pair has since then consolidated, although our bearish stance remains. The other trade idea is a short for AUDJPY. We are still in this trade and we are currently in some drawdown. We expect this trade to play out next week.
For the rest of the session, we started to prepare for next week. One of the setups that we wanted to enter this week was a short for EURNZD. This pair finally got to our entry point this morning. We are looking to take this trade all the way down to the lows made back in December of 2019. We will also look to pair this trade idea with a potential long for GBPUSD if it can clear this past month’s high.
As the holidays start to approach us, volume in the markets will gradually decrease. It doesn’t help that we still have a pandemic ongoing and that vaccine news is being released every week. But, as traders, we have to play the hand we are dealt and make the best of it. Have a great weekend!