This trade setup is a trend-continuation short. I’ll be waiting for the bar to close and place my order Sunday night, after the market opens. My target is the next key level- 0.9208
A scan of charts to watch and trade this week.
Please enjoy the video here:
Here is an update on the result of the GBPAUD trade setup, and a new AUDNZD trade setup valid for tonight.
View the video here:
This is an update on my trade setup from the 13th February which has triggered and nicely up in profit.
First of all, this is a reminder for you to book your coaching in with me as soon as possible, especially before your coaching session expire!
If you need assistance, please do not hesitate to contact Katie.email@example.com to help you book yourself in.
I recommend you book in for coaching this week, or next.
As for general trading conditions, please note that this week Friday is Non-Farm Payroll day, and the market is very likely to swing about wildly between Thursday and Friday. In order to keep yourself safe, I recommend you do not trade on either Thursday or Friday this week.
I will go over this in greater detail in this week’s Midweek Market Focus!
Also, if this week becomes very sluggish, and hardly moves between today and Wednesday, it’s likely due to the market deciding to wait until then, and being undecided, or pausing. This is in itself a indication to wait and not trade.
From a technical analysis point of view, please note the following can contribute to extreme changes in daily trends:
All the charts below (weekly/daily/monthly) show the majors at or very near key horizontal levels, starting with the USD Index- this indicates that a reversal could well happen this week- this is often the case when the market hits key levels at the same time- then, it’s the US Dollar that will probably tip the game. Please be aware of this!
Based on the weekly uptrend, and the recent daily double-bottom, this is an aggressive entry into the daily trend, on the 240min timeframe. The entry is buying on a cluster level where Fib levels, moving averages, Weekly pivots, horizontal levels all lie on top of each other, with the stop placed below that, then manage and update the stop on the daily or 240min. Adam
The 120min chart has already given a very bullish signal, and so the trend might not even come back to test this level.
Here is the link to view the setup of the explanation- it’s about 14 minutes long.