Hey traders, How was your weekend? hope you enjoyed it… did you do something different? Or just relaxed for a few days?
I took some time to relax, because next weekend I’m going to need some spare energy…
Anyway, how was yours?
As every monday, I like to see what are the most important fundamentals of the week… But you know, this week we don’t have a lot of fundamental releases…
Which is good and bad at the same time.
Its bad because sometimes we need this type of volatility to get the market moving faster…
But its good because it will move entirely based on the sentiment of the market.
Regardless of the fundamentals… What we need to do every single day (which is by the way the most important aspect of trading) is to focus in the currency pairs that have both:
- The clearest market conditions
- And the most profit potential
Focus on those two things day in day out, and you’ll be on your way to consistent results.
By the way, here is one of the currency pairs that I feel most comfortable trading with.
You already know that the GBPAUD is trading in a very clear bullish condition… If you look at the daily chart, you’ll see that it broke through an important resistance level, therefore, it is likely to continue its way up, at least, until it reaches its next LT support level…
Which is by the way, more than a thousand pips from where the market is currently trading.
Now, In the last few weeks I’ve been trying to take advantage of the GBP crosses, its not that I always trade them that much, but right now, I believe are among the best opportunities out there… So I’ll be there, trying to take advantage from them.
Here is what the short term charts look like:
My entry order details are:
Add to my GBPCAD Trade
Some of you took the GBPCAD trade a few days ago, at this point we have more than 650 pips on our favor…
And we might have a good opportunity to increase the trade size of this trade…
Let me show you the short term chart:
Details of my order:
TP: 2.0463 (same as my other trade)
We’ll see what happens.
What do you think about this week? Is it going to be slow?
Are you going to take the GBPAUD trade?
Did you take the GBPCAD one? Will you be willing to add to your trade if you did take it?
Share your thoughts.