In today’s live trading session, we went over the current status of our GBPJPY and AUDJPY trades. We then discussed the effects of the ECB rate decision and setups to take before the week comes to a close.
In yesterday’s live trading session, we did a live analysis for AUDJPY and GBPJPY. We had a long bias for our intraday trade for GBPJPY. We entered the trade live and over the course of 12 hours our final target was hit for a gain of up to +70 pips. We had a long bias for our AUDJPY swing trade as well. We hit our first take profit before price stopped our partial position out at entry. We are seeking entry again into this trade after a satisfactory 4hr closure.
The European Central Bank has decided to keep its interest rates at 0.00%. This had a minor effect on the markets as this moved was expected. But, we saw many of the majors move a considerable amount this morning. This was due to the US Unemployment claims exceeding the forecast and printing 3.84 million claims.
This week has been a great bounce-back week from last week as we have yet to lose a trade. With only 40 hours left in the trading week, its important to not give back the gains we made from the markets. We will only enter setups that are promising and that conform to our strategy. Risk management and trade management will also be key in case a trade does dip into drawdown or loss. In today’s session, we discussed potential intraday scenarios for USDCAD and EURNZD. Let us be patient and wait for optimal entries for these pairs. As always, be safe and trade responsibly.
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