In today’s live session we went over our #EURUSD, #XAUUSD and #NZDCAD trades that we took yesterday. We also answered a very important question, “When Do We Get Out of a Trade?” and explained this using our current trades as examples.

During yesterday’s live session we spoke about the possibility of entering a short position on EURUSD if our entry conditions were met. Earlier in the day, during the London trading session, we got the confirmation we looking for, and we entered the signal. We are currently up +20 pips and we can expect more downside to come. We also took a long position on #XAUUSD Gold yesterday, but since the pair was stalling at a key support zone, we knew we had to get out of the trade. We explain today why we got out of the trade and closed in slight profits, and luckily we did, because Gold started to drop shortly after.

NZDCAD has started it’s drop down and has brought us close to +40 pips. We currently have taken partials profits and have moved our stop loss to entry for a risk-free trade. From the daily time frame, we see further downside for the currency pair. We have to take into consideration that we have Canadian Employment data being released tomorrow morning. The current forecasts indicated lackluster results. We will make sure that we are out of the trade by tomorrow morning, or at the very least, move our stop loss below entry to secure profits.

This week was a fast one, and that tends to be the case when we are making good profits. We have already met our weekly target of +300 pips and had only one losing trade. Tomorrow, we have our free live trading session, so be sure to invite your trader friends to tune in. We will see you all tomorrow at 11 am Eastern Take care and happy trading!

RP Forex streams live during New York Trading Session with our members from Monday through Friday starting at 11:00 AM Eastern Standard Time, breaking down the charts. RP Forex in a seasoned trader and expert in Price Action. He teaches #TechnicalAnalysis and #FundamentalAnalysis, how to maintain good risk management to trade effectively in the forex market.

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