Happy Monday traders. We hope you caught today’s live trading session. Just a reminder, we do these live sessions for free every Monday and Friday for our free members in the Forex Trading Room. If you have not created an account yet, click here to sign up for free.
In today’s live session we identified four trade setups on the majors using our price action trading strategy. This week is Non-Farm Payroll (NFP) week and therefore we will rely on fundamental and technical analysis to ensure we don’t run into any surprises.
Last week we took a short on EURUSD which came very close to hitting our first take profit target. In today’s session, we pointed out that technical analysis still points to a short on the pair, and we are currently waiting for confirmation on our entry to enter a short position again.
Additionally, we are eyeing a short for GBPUSD. Today the U.K. Parliament concluded a vote to extend Brexit until late December/January. Although we all wanted this fiasco to be over with this weekend, we will at least get some normality back within the Pound (GBP) pairs.
In terms of economic news, this week is filled with a tremendous amount of fundamental news releases. It has been a habit of ours to take things slow during Non-Farm Payroll (NFP) week, as there are usually long periods of consolidation prior to the big news release. To offset this, we will take advantage by trading some of the news events using our news trading strategy, as well as look for low-risk intraday trading setups. With that said, I will see you all tomorrow for another live trading session in the Forex Trading Room.
Watch The Live Session Here:
Check Out Yesterday’s Live Session Recap: October 25th, 2019
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