Welcome to another live trading session in our Forex Trading Room. In today’s session, we went over our EURUSD and XAUUSD trades which are both in profit and have brought us a combined total of +130 pips. We have moved our stop loss to entry price, making these two trades completely risk-free.
During yesterday’s webinar, we went over four trade setups on the major currency pairs. Using the price action trading strategy we teach, we took a short position on XAUUSD (Gold). The precious metal dropped as much as +80 pips since yesterday, and we have also been holding a short position on EURUSD since last week. After a minor retracement, the pair has continued to fall again.
In today’s session, we went over a high probability trade setup for EURJPY. We identified key confluences on the currency pair that align with our price action strategy. Based on our trade analysis, we have determined a bearish bias on the currency pair. We are awaiting a critical bearish closure below 120.150 to confirm this bias.
In other news, we have the US CPI data release tomorrow morning, so we should all expect higher volatility then usual. The data is expected to provide strength to the US Dollar which is good for our current EURUSD & XAUUSD positions. However, forecasts aren’t always accurate, so as we get closer to the news release, we will adjust our stop loss and profit levels accordingly. We will discuss the data and more trade setups in our Trading Room in tomorrow’s live session. Join us today and get access to daily live streams every morning. Watch, learn, and profit with us. We grow together. Click here to sign up.
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Check Out Friday’s Live Session Recap: Novemeber 11th, 2019
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