Hi, I cautioned on Sunday that things were most likely to be quiet this week due to the explosive moves over the previous 10 days.
I explained that I was focusing on just 2 trades and they both won 🙂
I said ” I do have a few potential decent setups on my radar.
Nzd/Cad: I don’t think I ever traded this pair, but thanks to one of my private students, Richard for pointing this one out. 0.8810 is a HUGE area to long for multiple reasons.
Euro/Yen: The only Yen that interests me right now. It broke a weekly trendline and 200ema which is significant, but it is currently stuck on the monthly 55ema. I will look at 1.2400 for an M3 trade. My preferred choice would be a clear break and close above 1.2500 followed by a pullback THAT would be a strong buy for me.”
I explain in the video how I have managed the trades and my plan for the rest of the day.
Its NFP today so do not be tempted to open new trades before, during or after as its forex at its silliest.
Have a great weekend, I will be back with you on Sunday as ever with my analysis for next week.