Taking profit! What a great way to start another day of trading. During today’s live session we outlined several targets that we have reached, including some that we have been calling for a while. We also made several recommendations on where members should be looking at taking profit on active trades.
For DXY, we finally got to our ( members only ) target that we have been calling for the last 3 months. Now we are going to be cautious and watch to see what price is going to do next. We will need to see strong bearish signs before looking for price to sell off now. If not, we should cautiously assume a bullish bias. We will be keeping members posted on this.
We have reached our take profit target for EURUSD at ( members only ) that we have been calling for this week. Considering this is NFP week, it is a good time to be taking profit and be out of this trade, and to wait for new opportunities.
Both targets reached on GBPUSD as well, so it may be best to be out of this trade until after the Non Farm Payroll release on Friday. However, we did map out a potential long set up during the live session for a day trade today or tomorrow.
Turning to NZDUSD, we still think it will drive up to the daily order block. We provided a long setup during the live session with two targets to watch for.
Similar to NZDUSD, AUDUSD may still have some upside, but NZDUSD looks like the better trade. We’ll be staying out for AUDUSD for now and will focus on NZD.
For EURGBP, we’re going to watch it closely to see what price will look to do next. We believe it’s likely to go up to the 4H highs in the ( members only ) area, but may see a drive down to take out some liquidity first at the ( members only ) level.
With USDCAD, we see price taking out a 4H low, but be advised that it’s not a high probability setup.
USOIL has traded to the 2 targets we mapped out yesterday. We may see some type of pullback from here since we are extremely overbought. It’s a smart strategy to be careful and be taking profit if you are long. We gave a high risk long set up if you’re interested in taking a scalp trade.
If you’re in GOLD, we are still holding the same bias with upside target at ( members only ).
For BTC we’re going to stay on the sidelines. If you want to take a trade, perhaps a scalp long… but be cautious.
With ETH, we are taking profit on a 5% trade that hit yesterday. We still see higher upside on Ethereum, but we continue favor downside in the long run. We would need to see a few things to change our bias, which we outlined in the NY live session. For now we’re going to stay on the sidelines – but be sure to catch the live session replay in the portal for full details.
There’s a ton more of currency, crypto, commodities and other indices left to go over, paid members get to follow along with the trader daily inside our trading portal.
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