Welcome to another live trading session. In today’s trading session, we went over the trades we took this week to make +200 pips and trades that we could take next week.
This week started off with major gaps in the markets. This caused confusion in traders and investors alike. For this reason, we decided to ease into the trading week. We focused on getting some of the smaller moves in the markets as the volatility was very erratic. We were able to get +60 pips in between our EURJPY and EURUSD short trades. We then got a +140 pip gain from our EURGBP long trade which took several days to play out.
This week wasn’t all sunshine and rainbows. Unfortunately, we had a trade go against us, but technically it was out of our control. In yesterday’s session, we decided to take a long for USDCAD. After spending some brief time at entry, we were stopped out of the trade within an hour. This was due to the Fed injecting $500 billion into the markets to keep them afloat. Thankfully, our AUDUSD swing trade is up +150 pips and counting.
As for trade setups for next week, we are focusing on our AUDUSD swing trade as well as entering short for NZDJPY. As the noise in the market continues to grow, we have to take setups from the higher timeframes to filter it out. We expect continued weakness for the Australian Dollar and the New Zealand Dollar. We hope you all have a great weekend. Please be safe. We will see you all on Monday for another FREE live trading session.
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Check Yesterday’s Blog Post: March 12th, 2020