Welcome to another live Forex webinar. In today’s Forex webinar we went over our two winning trades from yesterday, in GBPAUD and XAUUSD. Both setups were analyzed during our free webinar on Monday and we had an entry shortly after. We are currently up +150 pips from both those trades. We then took a brief look at the current status of our AUDNZD & AUDCAD trades from last week. The webinar was then concluded by discussing How to Trade With Confidence.
During yesterday’s free webinar, we discussed a short trade setup for GBPAUD with specific entry criteria. Later in the day, the trade was called on our Telegram after confirmation of our entry criteria. Over the course of the London session, the pair had dropped over +100 pips without any drawdown. A potential short setup on XAUUSD was also discussed yesterday. Similarly, XAUUSD was also entered once our entry criteria were confirmed. The precious metal dropped +38 pips into profit, before stopping our partial position out at entry.
Our AUDNZD trade from last week has fallen considerably, almost to our final take profit. We have decided to close out at this time. Our AUDCAD trade had stalled at our first take profit and has retraced to our entry. We then took some time analyzing USDCHF, as the pair could provide a substantial amount of pips if our short trade setup is activated. The pair is currently deep within a resistance zone, attempting to push higher. We are patiently waiting for the break of hourly support, to confirm that price has failed to go higher and consequently gearing for a move down.
The session was then concluded by a quick discussion on trading with confidence. The only way you can trade with confidence is through a combination of experience and a solid back-tested strategy. The highs and lows of experience will shape your confidence. How you act during losing days, or weeks, will dictate whether you make profits or not. Additionally, having a strategy that works can do wonders, despite a string of losses, your confidence in your strategy could offset those losses and get you back in profits. To hear more about this topic, check out our post on Instagram.
We are off to a great start to the week and we are looking forward to entering more setups as the volume in the market starts to pick up. Be sure to join tomorrow’s live session as I have a special announcement to make. With that being said, I hope you all have a great day. Take care and be great traders!
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