Welcome to another live trading session. In today’s live trading session, we went over several trades ideas that we could enter this week.
In today’s session, we discovered several setups that could be in play for this week. In particular, we found a great setup for GBPUSD. We have been patiently waiting for GBPUSD to break our current 4hr support to take it to the downside. We are hopeful that this break occurs this week and that we are able to enter short.
Another setup we found was for GBPCHF. During the session, we noticed the pair attempting to break past a major daily support level. We are eyeing a 4hr bearish closure to confirm its move down to take out the past low. We do have major European PMI data coming out later during the London session which may be the catalyst for the push-down.
Once again, we will start this week off slow and not force any trades. We usually make the majority of our profits during the midweek. We can expect things to pick up and find direction once tomorrow’s European PMI is released. We also have a host of G20 and G7 meetings this week which will provide further insight on how global leaders will tackle the Coronavirus. It’s a major week in terms of fundamentals, so we should be prepared for a wild ride. As always, be safe and trade responsibly.
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