In today’s live trading session, we went over the trades that we took this week to accumulate around +225 pips. We then prepared for next week by identifying possible trade setups and biases.
This week started off fairly slow as the markets awaited this Wednesday’s US CPI data. We got a quick +25 pips from EURCAD as our first trade. We then got into longs for EURUSD and GBPUSD. These two trades combined for up to +110 pips. On Thursday, we sent out buy setups for both Silver and Gold. Gold rocketed a quick +110 pips to the upside. Silver then followed this by its own move of +75 pips to the upside. There were a few setups that remained pending such as our longs for USDJPY and GBPJPY.
As for setups to take next week, we once again focus our attention on the Canadian Dollar. We are still fundamentally bullish on the Loonie and we see this translate on to the charts as well. In today’s session, we identified two setups to take advantage of the roaring Loonie. One is a short for NZDCAD which has pulled back after a brief selloff, and we are looking to enter short once this week’s low is cleared. The other is a short for USDCAD which has been choppy for most of the week, but we are hopeful that changes come next week.
In totality, this was a great week for us and we look to carry this momentum forward. Next week is a very important week for US Oil as we have the OPEC meetings as well as a slew of Canadian fundamental news. We’ll see on Monday if there is a trade setup for black gold. We hope you all have a great weekend!
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