Welcome to another live trading session. In today’s trading session, we went over the trades we took this week to make +502 pips and trades that we can take next week.
We had another phenomenal week in our Forex Trading Room where we had several home run trades and only one losing trade. One of the home run trades we took this week was a long on XAUUSD (Gold) which led to +115 pips. We also had continued success with US Oil, as we shorted the commodity for +210 pips. We did have a losing trade for AUDNZD, in which we incurred a -33 pip loss. But, after we got stopped out, the trade immediately reverted back the other way and hit our profit targets.
Today we had the Non-Farm Payroll release for the US economy. Despite the Coronavirus, the US economy added 273,000 jobs vs. the forecast of 175,000. The unemployment rate also dropped from 3.6% to 3.5%. This is great news for the US Dollar. We have been pretty bullish on the US Dollar for much of this year. Next week we will look to take advantage of the impressive NFP numbers, by possibly shorting EURUSD and XAUUSD.
This has been the second consecutive week in which we have made more than +500 pips. Due to us only taking quality trade setups, we have limited the chance of incurring too many losing trades. We are starting to see more and more members becoming independent traders by taking trades of their own, and succeeding while doing so. Our Discord server is also continuing to grow, as it has created a hub in which you can communicate with other traders and share analysis. We are excited for the direction that we are headed in, and can’t wait to see more new faces in our Forex Trading Room. Have a great weekend, and enjoy those profits responsibly traders!
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Check Yesterday’s Blog Post: March 5th, 2020