Trade setup opportunities were explored during today’s live session. In addition, we also looked at some scalping setups that fit today’s market conditions.
We are starting a consolidation on DXY, which makes it tough to trade the majors. It may be best to focus on the cross pairs instead. If you do feel inclined to trade the majors, look for run on stops before taking a trade.
For EURUSD, look for a run on high/lows before taking a trade. A potential trade setup would be to wait for price to retraces to ( members only ) for a scalp long.
We are expecting GBPUSD to drop down to fill in the gap at ( members only ). You can sell short to this level if you are comfortable scalping, but best not to hold onto trades long term in these market conditions.
With NZDUSD, you can look for a short on the daily timeframe when price trades into the ( members only ) level with stop above ( members only ). We actually like this trade setup.
With AUDUSD, we gave a potential short entry yesterday on the 1H, but price traded through it. Now why didn’t we send an idea to sell short? It was because the time of day was not good, so we did not act on this trade setup. Now we may be looking for higher upside on the daily timeframe. We mapped out the level to watch in the live session and you could potentially look for buys into that level – be sure to catch the replay for full details.
With EURGBP, we gave an entry on this one and we almost got to our TP1. We should be getting there within the next couple of days.
Turning to USDCAD, we offered a potential long trade on this setup. We will send this trade idea out when it’s ready for an entry.
For USOIL, we provided a short trade setup in the live session, trading the H4 order block.
GOLD is stuck in a sideways market, but we like the swing long forming right now on the 4H timeframe. We might look to go long if it retraces to the gap we mapped out in the live session, which coincides with the 79% fib level.
BTCUSD looks like it will take out the high above ( members only ). We provided a good long trade setup in the live session. It can go higher, but we will take most of the profits around ( members only ).
ETHUSD looks like it can take out the local high on the 1H timeframe, but there is no entry we can see. We mapped out what you can do within the next few days and potential upside targets given it closes above Monday’s high.
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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