Hey traders we had a few shorts this week as planned from the last weeks post with trades on EG and on UC. See last weeks outlook here. We also managed to get a piece of that GJ long in the members are too and I’m sure there’s still more in it. Read on for this weeks potential trades.
AUDCAD – Short
So the supply level we looked at last week held and price fell away nicely for short trades. It looks like it can still go much lower so I’d expect it to at least go to the daily demand level below. When it hit’s I then be looking at longs.
CADJPY – Long
We’ve had trading opportunities from this daily supply twice already and those days are now over; for shorts at least. Price made a convincing engulf of the supply zone last week. Up above the path is pretty clear so I’ll looking for longs now. We’ve also had a base show up around the supply which also adds confluence to the trade.
EURGBP – Short
So last week I mentioned the potential short on EG given that price had engulfed the demand base on the daily which is always a good sign. There were additional reasons for the trade which I went through in the members area and we went short. I didn’t pick up the whole move but we still have opportunity for more this week.
Premium members can login to the forum for the detailed analysis which looks at the lower time frame levels we are watching to confirm entries, and the other setups we have for this coming week. This weeks detailed video analysis is here. If you do not have access to the premium content then you can find out how to sign up here.