PRICE ACTION FOREX TRADING - GBPUSD & GBPJPY Profits + GOLD Fakeout Explained
PRICE ACTION FOREX TRADING - GBPUSD &GBPJPY Down? + What To Look For In a Trade?
Welcome traders to another live trading session! In today's daily live webinar we did a recap of our GBPUSD & GBPJPY trades that were taken earlier in the week and we then took a look at a trade setup for AUDNZD. We then did price action analysis on Gold and EURUSD, which resulted in us having a short bias. We then finished off the session by talking about 'How to Plot and Take a Signal.'
Earlier this week we decided to take a short for GBPUSD and GBPJPY. Both setups had similar technical indications pointing to a sell. We are currently sitting at +140 pips and counting for the two trades. During the London session, we took a long on XAUUSD which gave us a quick +29 pips before taking us out at entry. In today's webinar we discussed why this was a classic fake out and therefore, we have a pending sell setup on the metal.
We concluded the live session by discussing the topic of the day. The topic of the day is 'How To Plot and Take a Signal'. We used a signal from Vanity as an example. This video is really important has it breaks down how to plot the take profit and stop loss levels of a signal on your charts. Once a signal has been plotted, it is up to you to decide if the signal agrees with your analysis. If your analysis and the signal are indicating the same thing, take the trade. If not, you can always pass and see what happens. We want our signals to be used as tools and not as a copy and paste service.
We expected this week to be slower than what we are used to, and that assumption was correct. Despite this, we are having another solid week with approximately +150 pips made. We still have half of the week left to trade, so we are right on pace to meet our weekly target of +300 pips per week. I will see all the trade room members tomorrow, for another live webinar. Be great, traders!
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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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
Welcome traders to another live trading session! In today's daily live webinar we did a recap of our GBPUSD & GBPJPY trades that were taken earlier in the week and we then took a look at a trade setup for AUDNZD. We then did price action analysis on Gold and EURUSD, which resulted in us having a short bias. We then finished off the session by talking about 'How to Plot and Take a Signal.'
Earlier this week we decided to take a short for GBPUSD and GBPJPY. Both setups had similar technical indications pointing to a sell. We are currently sitting at +140 pips and counting for the two trades. During the London session, we took a long on XAUUSD which gave us a quick +29 pips before taking us out at entry. In today's webinar we discussed why this was a classic fake out and therefore, we have a pending sell setup on the metal.
We concluded the live session by discussing the topic of the day. The topic of the day is 'How To Plot and Take a Signal'. We used a signal from Vanity as an example. This video is really important has it breaks down how to plot the take profit and stop loss levels of a signal on your charts. Once a signal has been plotted, it is up to you to decide if the signal agrees with your analysis. If your analysis and the signal are indicating the same thing, take the trade. If not, you can always pass and see what happens. We want our signals to be used as tools and not as a copy and paste service.
We expected this week to be slower than what we are used to, and that assumption was correct. Despite this, we are having another solid week with approximately +150 pips made. We still have half of the week left to trade, so we are right on pace to meet our weekly target of +300 pips per week. I will see all the trade room members tomorrow, for another live webinar. Be great, traders!
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
