In today’s live trading session, we went over the trades we took this week, and potential trade setups we should look out for in the coming trading week. This week was calmer than the past two weeks, which led to more accurate trades and therefore more profitability.
Despite only taking a handful of trades, we had a very successful trading week hitting our weekly average of +300 pips. We had a few blockbuster trades including EURAUD and EURNZD. Both these pairs brought in a combined +120 pips (and counting). We also called out a GBPUSD swing trade which went as far as 130 pips into profit. Other notable trades that were smaller wins were our buy positions for EURUSD, EURJPY, and AUDJPY. This was a great week to bounce back from the chaotic trading week we had that was caused by the US and China trade war.
We are anticipating another great trading week next week due to the number of potential trade setups and the price action we see on the charts. If things play out in our favor, we have a potential long opportunity on EURUSD targeting 1.12500. We explained how the pair broke out of a long-term descending channel and has recently broke out of an hourly ascending channel. This indicates the amount of buyers that the pair has accumulated recently. Lastly, we talked about trade setups for EURCHF, EURJPY and USDJPY. You’ll have to watch the session to get the full breakdown.
Lately we’ve had many of our Forex Trading Room members making the leap to learn how to trade Forex full time with us. We also have many existing members now entering trades on their own and profiting. Our goal at Forex Lens is to produce independent traders by helping our members fast track every their journey to become consistently profitable. With that being said, I hope you all have a great weekend and I will see you all on Monday for another free live trading session in our Forex Trading Room.
Watch the Live Session Here: Trading Room (Portal)
Check out yesterday’s live session recap: October 17th, 2019
