Live Forex Trading - EURAUD Profits + CADJPY Ready to Short?

In today’s live trading session, we went over the profits made from our EURUSD and EURAUD trades. We then spent the rest of the session looking at our next batch of trades that are almost ready to enter.

Earlier during the London session, our short for EURUSD hit its final target of +100 pips. This trade was taken based on simple technical analysis that took no more than 3 minutes to conduct. In addition to this trade, we took a short for EURAUD. In our previous session, we discussed the idea of waiting for EURAUD to approach and reject hourly resistance before entering short. Once we had seen that on the charts, a signal was sent and most of our profits were secured at +70 pips.

Similar to last week, only a handful of our potential trade setups have warranted entry. Thankfully, the midweek volatility has kicked some movement into these pending setups and they are almost ready to go. One setup of interest is a short for CADJPY. This short would take the pair all the way down to the lows created at the inception of Coronavirus. We are currently waiting for price to break out of its consolidation box before entering.

With 36 hours left to trade, its time for us to bear down and enter one or two of the best trades we can find before Friday’s market close. These unprecedented times have led to unprecedented market conditions, but we have to do the best we can with the cards we have been dealt with. Let’s finish this week strong! As always, be safe and trade responsibly.