In today’s live session we spoke a bit about our USD/JPY and Gold trades. Both of which have brought in over +180 pips. These two setups were the highlight of our Monday’s session and their technical analysis was broken down step-by-step.
Since then, these trades have become risk free as we have secured most of our profits, and have moved stops to entry. This is a highly effective risk management strategy which we talk about in our new ‘Forex Signals Course‘ that is available for free.
Moving on to potential trades for this week, I have spotted a potential short on EUR/USD as we have created a descending channel, and we are awaiting a break below 1.10280 to confirm a short within the channel. There is also a possible AUD/CAD short as we have come off resistance at 0.90400 and have started our descent to 0.89200 which is the bottom of the range. Additionally, GBP/USD is gearing up for a long, we just have to wait for the right moment to enter.
We have ECB and US CPI on Thursday morning, so we’ll look for intraday trade opportunities on the charts and do our best not to hold any trades during Thursday’s release. We will see you all again at 11:00 AM EST tomorrow on our Portal. Have a great day traders!