In today’s live trading session, we went over the current status of the trades we covered yesterday. We then spent the last bit of the session going over setups for some cryptocurrencies.
During yesterday’s live session, we speculated that if EURUSD could close above 1.19000, price would be ready for its next leg up. Earlier during the London session, this exact scenario occurred and Euro began its move to the upside. Since then, price retraced back near 1.1900. As traders, we like this scenario as it provides us an opportunity to go long once again. Once we see bullish activity around this level, we will enter long with a target of 1.20500.
After discussing the Euro, we discussed yesterday’s signal for EURJPY. This trade was called earlier during the London session and immediately went into profit. Price came very close to our first take profit of 25 pips, but then retraced back. After this retracement, price went to stop us out at -43 pips. We believe this move correlated with EURUSD beginning its uptrend. As a result, we expect a possible long for EURJPY if EURUSD continues to push higher.
For the rest of the session, we found long setups for LINKUSD and ETHUSD. We are bullish on the two setups as technicals indicate a breakout to the upside. Once again we are relying on the midweek volatility to provide our setups some momentum to get entry and subsequent profits. As always, be safe and trade responsibly!
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