In today’s live trading session, we went over the trades we took during this short week and then focused on trades to take next week.
Usually, the Non-Farm Payroll week is a busy and volatile week to trade. But, this week was different. We had Canada Day on Wednesday and Independence Day being celebrated today by banks. The only real volatility we had was shortly after the US economy’s jaw-dropping jobs report on Thursday. Before and after that, things were pretty mute.
We started the week off with a nice long trade for XAUUSD (Gold) which brought in 25-55 pips depending on when the trade was exited. We are currently holding shorts for GBPUSD and NZDUSD, which will most likely be closed by the end of the day.
Next week seems more promising as it is a full five-day trading week with some high impact news to keep volatility flowing. Both EURNZD and GBPNZD seem to be promising setups as they have crushed daily support earlier this morning. If price action is still valid on Monday, we should have an entry during or shortly after our session. Trading is like boxing, roll with the punches until you can deliver some of your own. We wish everyone that is celebrating a Happy Independence Day!
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