In today’s live trading session, we went over the trades we took this week that led to profits of up to +400 pips. We then spent the remainder of the session looking for trades to take now and next week.
This week was phenomenal as we have not lost a single trade. This was all accredited to our patience and adhering to the rules of our simple price action strategy. We had a few home run trades this week, in particular US Oil and Gold. Our first trade was a long on Gold after it had closed above the 1650 psychological level. This trade netted up to +110 pips for members. We then took a short on US Oil after it was announced that the OPEC meeting was rescheduled. This trade netted up t0 +210 pips. Volatile markets can lead to big moves.
For the rest of the session, we focused on future trade setups. We found an intraday long for EURGBP as it has rebounded from our 4hr support zone. This trade is an intraday setup as we should see the move be completed by the London session. We also found a long trade setup for XAUUSD, which could possibly take us to 1700. This trade is a bit risky as we have the OPEC meetings today but with a reduced position size its worth entering.
As tomorrow is a bank holiday, our trading week was only four days long. Even then, we made the best out of those four days. These market conditions will resume for the foreseeable future as the IMF has stated that this recession will be the worst since the Great Depression. We hope you all stay safe during this time. Trade responsibility and have a great day!
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Read yesterday’s article: FOMC Meeting Minutes, The Fate of The US Dollar
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