Welcome to another live trading session. In today’s live webinar, we went over the profits we made this week along with trade setups for next week. This week was phenomenal as we had zero losing trades and came close to our target goal of +300 pips per week.
We only took a handful of trades this week because that’s all we need to take. It’s more about the quality of trades you take in Forex, rather than quantity. We continued our bearish bias for the New Zealand Dollar this week as we shorted NZDCAD and NZDUSD. Both trades have brought in a total of +160 pips. Currently, both pairs are making a retrace as the US Dollar Index has run into the 100 psychological level. We are still bearish on the New Zealand Dollar and expect further shorts later next week.
The only trades we are currently holding are our USDCAD and AUDUSD trades. We do expect further downside for both pairs. We will be closing USDCAD by the end of the day. We will continue to hold AUDUSD throughout the weekend as this trade is a swing trade. We have hit our first intraday level of 0.65925, but have retraced since then. We did identify a long setup for GBPJPY which was very tempting to enter but was passed on because today was Friday. This is definitely a setup that we can possibly enter next week.
Another week in the trade room that ends up in profits. Many traders in our Forex Trade room are making huge strides in their trading. People are learning our strategy and making profits of their own. Our new Discord channel has also facilitated in creating a community of like-minded traders. Even in its early stages, we have members sharing chart work and opinions on trade ideas. It is truly a beautiful sight to see. You can sign up to join the Discord channel by clicking, here. I will see you all on Monday for another free live trading session. Have a great weekend and enjoy those profits wisely!
Check Out Yesterday’s Blog Post: February 20th, 2020
