LIVE PRICE ACTION FOREX TRADING - EURUSD & NZDCAD HEADED LOWER + KNOWING WHEN TO EXIT A TRADE
LIVE PRICE ACTION FOREX TRADING - EURUSD & NZDCAD HEADED LOWER + KNOWING WHEN TO EXIT A TRADE
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.
CONNECT WITH US ONLINE:
Get the Latest News on Telegram: https://t.me/ForexLensInc
Follow Forex Lens on TradingView: https://tradingview.com/u/forexlens
Follow Forex Lens on Facebook: https://facebook.com/forexlens
Follow Forex Lens on Twitter: https://twitter.com/forexlens
Follow Forex Lens on Instagram: https://instagram.com/theforexlens
Follow Forex Lens on LinkedIn: https://linkedin.com/company/forexlens
Visit our website: http://forexlens.com
Mandatory Disclaimer: Trading in the #ForexMarket is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in #ForexTrading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest money you cannot afford to lose.
Risk Warning
By making an investment or by trading in financial instruments, your capital is at risk; As the value of your investment can rise, there is always the potential of losing some or all of your invested capital; Past performance (whether actual or simulated), predicted returns, or likelihood performance scenarios may not reflect future performance and certainly do not guarantee future results; Investing and trading in the forex market is highly speculative and involves a significant risk of loss. Therefore, speculation in the forex market should only be conducted with trading capital you can afford to lose and will not dramatically impact your lifestyle; We believe that you should always be aware of the risks before deciding on trading and investing your capital, consider your risk tolerance, investment objectives and your level of experience in like investments, and seek independent financial advice.
Disclaimer
Information contained in these videos should not be construed as investment advice, or investment recommendation, or an offer of, or solicitation for, any transactions in financial instruments. Market information is made available to you only as a service, and we do not endorse or approve it. The information provided in these videos are not to be viewed as an offer to sell or the invitation of an offer to buy any commodities or financial product described in this video or on the Forex Lens website. The information contained in our website has been obtained from reliable sources but is not necessarily all-inclusive and is not assured as to its accuracy.
Visit our website: http://forexlens.com