In today’s live Forex analysis session we started off by speaking about our Gold and GBPJPY trades which ended up giving us up to 105 pips. We then discussed the chance of buying the Pound, in particular GBPUSD, GBPJPY and GBPAUD.
Last night we took a buy position on Gold which came close to stopping us out, before heading into +60 pips of profit. For our GBPJPY short trade, we had a quick and swift approx. 80 pip move down. Today we had US Core Retail Sales come out worse than expected, and therefore we seek to take advantage of a weaker Dollar.
During yesterday’s session we spoke of potentially longing GBPNZD. During the odd hours of the night, our GBPNZD long trade was activated and went to our final take profit of 167 pips. As usual, I gave clear instructions for when to enter the trade when I was asleep. As the Pound continues to gain strength, we look to our technical analysis to confirm viable trade setups. We found such setups for GBPUSD, GBPJPY and GBPAUD. As usual, we will wait for price action to satisfy our entry criteria, before entering.
We do have Australian Employment data being released later today so that may disrupt some of the setups we just spoke of. Therefore, we will make a decision about entering GBPAUD after the release. I will see you all tomorrow for another live Forex analysis session. Take care and happy trading!
Watch the Live Session Here: https://www.portal.forexlens.com/
Check out yesterday’s live session recap: October 15th, 2019
