Trade setups were discussed in today’s live session for several major pairs, and we shared some juicy profits from 2 recent trades.
DXY price has reached the optimal trade level we have been expecting for months and is trading to the imbalance. We recommend sticking with the bullishness for now for price to reach ( members only ), while we watch for price to confirm and go lower. Price action on the 12 month timeframe shows a pullback with continuation to the downside. Currently, the DXY is trading in a range from the low of ( members only ).
EURUSD is showing an imbalance on the monthly and price should continue lower to ( members only ). Look for continuation to the downside, and remember that any pullback is subject to sell. If you’re short on EURUSD, keep some of your position open for the candle to stab ( members only ).
Turning to GBPUSD, we confirmed a swing low during yesterday’s session. Price has closed the void on the 4H timeframe, but there is currently no high probability trade to take. We outlined lower probability potential trade setups and a potential sell short… you can get the full details in the replay of the live session in the portal to see if they are of interest to you.
NSZUSD has passed TP1 and is expected to take out the high at ( members only ) and trade up to our second take profit target today or tomorrow. If you’re thinking of jumping in on the buy, be sure to watch the replay for details on where to mark your stop loss.
AUDUSD was a handsome trade and reached all targets, including reaching our take profit in our long. Our Smart Money trader took this trade and enjoyed 1,700 in profits, and 1,400 in profit on AUDNDS as well… not a bad start to the day!
EURGBP has finally gone for the low of ( members only ). We were watching for price to confirm a swing low on the 4H timeframe… it took out the high on the 1H, but then immediately came back down. We are now watching the high of ( members only ) to see if it closes above on the H4. If it does, price would potentially trade up to the range of ( members only ). Watch for it to buy into 50% of that range as the first confirmation…. you can see the chart work in the replay if you missed the live session and are interested in a trade setup. But remember, we need a swing low confirmation first.
For USDCAD, look for ( members only ) as a draw on liquidity, with ( members only ) as a partial profit. CAD is expected to gain strength and the candles confirm that they want to go lower. Target the gap of ( members only ) to the low of ( members only ). A good trading strategy would be to sell short and then pull back to optimal trade entry or return to ( members only ). Be advised that this isn’t high probability – if you trade this pair, do so with caution and be sure to watch the replay session for full details and chart work for this trade setup. Going long would be a countertrend.
USOIL went from a swing high to a swing low. If price trades to the down candle we identified, the price has potential to go higher to the ( members only ) area, but we also the wouldn’t be surprised to see price decline from where we are now because we’ve tapped into multiple long time highs. If you’re looking for trade setups, be sure to watch the replay for detailed ideas that were explored on the charts.
GOLD eventually confirmed a swing low and is expected to attack the high. The trade idea we gave yesterday is still valid, and we provided another trade setup for a potential buy opportunity on the H4 pullback during this morning’s session.
BTC did not take out the high of ( members only ), but we still believe it could because we aren’t seeing any sharp moves to the downside. Price may do a quick run to attack the high before reversing. Recent news suggests that Ukranians not having easy access to their fiat currency means they are turning to their crypto wallets. Time will tell, but it may cause a crypto rally if the majority feels like it’s a good idea to purchase crypto while others are selling lower.
We will be monitoring ETH as it might get a sharp move to the upside tomorrow. A smart idea would be to mark out the previous day’s low of ( members only ) to see if price rejects it.
There’s a ton more of currency, crypto, commodities and other indices left to go over, paid members get to follow along with the trader daily inside our trading portal.
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