PRICE ACTION FOREX TRADING - EURUSD, GBPUSD, GOLD, & USDJPY
LIVE PRICE ACTION FOREX TRADING - EURUSD, GBPUSD, GOLD, & USDJPY
Welcome to another live trading session. In today's trading session we do a price action analysis of the majors EURUSD, GBPUSD, Gold and USDJPY. We had a great week last week with +360 pips made and only one losing trade.
Last week Thursday we took another short for EURUSD, which went as deep as 50 pips into profit. We are currently at 30 pips of profit after the pair had made a slight retrace. We expect further downside to continue, so we will continue to hold this trade. Gold continues to have a bearish bias, as it did last week. Last week we took two separate shorts on Gold, and this week we look to short the precious metal again to our target of 1430.
Over the weekend, we saw GBPUSD gap up and make a slight rally. We were originally planning to short the pair if it broke 1.28000. That plan will be put on hold, until GBPUSD comes back closer to that level. However, we did find a intraday setup for USDJPY. We are awaiting for our entry criteria to be met, to short the pair down to 108.200.
This week has a decent amount of fundamental releases, so we will take caution about which trades we enter and when. I will see you all tomorrow at 11:00 AM EST for another live trading session.
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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