Hi, Pierre has posted an update in the forum.
I made a short video to review this week’s events. As expected we are not seeing a great deal of movement on longer timeframes.
M3 continues to give more opportunities for those trading shorter timeframes.
I was wary longing the Euro/Gbp in recent weeks as 0.9000 is huge. Finally, I took it and it lost. THe GBp news: printing and spending yet more money seemed to be the reason for a mini-surge in the Gbp.
The Euro/$ short from my Sunday trade plan has worked for 90 + pips so far.
The Chf bounced off the double bottom as discussed in Tuesdays live training session.
The Aud rejected at 0.7000 once more as expected & Aud/Yen bounced off its major resistance at 75.00.
Hopefully, my recommendation to NOT short the Cad at 1.350 kept you out of a loser and finally the Euro/Yen, my “A” grade trade of the week has not fired as yet, but Murphy’s law it probably will today, but I don’t trade Fridays.
The joys of being a forex trader 🙂
New members, please note: If I am looking to take a trade long, for example, 1.5000, I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads.
We are NOT a “tipping service” our aim is to teach you how to trade for yourself.
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Watch the video for more detailed explanations of this week’s detailed analysis and trade plan.
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