Welcome to another live trading session. In today’s trading session, we went over the current status of our trades and trades that we could potentially take.
In yesterday’s session, we decided to enter short for USDJPY and USDCHF. Earlier this morning, our USDJPY trade got stopped out at a loss of -65 pips. Since then, the trade has come back near our entry. This trade is expected to go further south as Donald Trump will address the nation in regards to the Coronavirus. Our USDCHF trade had hit it’s first take profit, before stopping out our partial position at entry.
Our swing trade for AUDUSD is in great shape as it is up +75 pips. The daily candle looks very bearish and is a tell-tale sign that further downside is imminent. Two out of three of our intraday levels have been hit. We have a long term target of 0.63400 for AUDUSD, which should be met by the end of the quarter.
During the rest of the session, we spoke about a potential short trade on AUDJPY. We are currently waiting for the 4HR candle closure to confirm our bias. Since we are bearish on AUDUSD and bullish on the Japanese Yen, potentially entering this trade made intuitive sense. If this trade is entered, it’s entry point, stop loss and take profit levels will be sent on Discord and Telegram. With that being said, I will see you all tomorrow for another live session. As always, be safe and trade responsibly!
Check Out Yesterday’s Blog Post: February 25th, 2020
