In today’s live trading session, we went over the current status of our USDCHF trade idea. We then gave an update on our pending NZDCHF trade idea.
During yesterday’s session, much of our focus was on EURNZD and AUDNZD. Our entry criteria for those pairs have yet to be confirmed. As a result, we decided to take a short for USDCHF. This pair ran into hourly support and printed a shooting star candle. After taking a peek at the US Dollar Index (DXY), it was clear that this trade would yield good results. Currently, we are up +25 pips with more incoming.
In today’s session, we went back to our NZDCHF trade idea that was discussed earlier in the week. This trade is moments away from providing us an entry. This trade setup is based on price running June’s high and then coming back to close below it. This is a classic fake-out. The daily candle is also a shooting star which bodes well with our short bias. This would be an optimal trade to pair with our USDCHF short.
Much of this week was construed with US Election that carried over from last week. Despite that, we were able to make the best of the situation by identifying a few key setups. We will be looking to take 1-2 more trades before tomorrow’s market close. As always, be safe and trade responsibly!
Directory:
- Sign up for a Free Membership.
- Login to watch full recorded webinars in our Forex Trading Room.
- Chat with our traders in the Community Discord Server.
- Read yesterday’s breakdown: AUDNZD and EURNZD Shorts are Almost Ready!
- 7 Day Risk-Free Trial
