There were more profitable shorts in the markets last week and I'm going to share some of the analysis with you again so here we go.
Once again, GU gave us a nice opportunity to short. Everything pointed to another move south so we just needed confirmation before taking a trade.
Here's a clue on the daily:
I spotted the last level I needed to see break before a short on a lower timeframe:
After a bit more waiting we got the PA I needed.
Then the inevitable happened...
Another textbook trade
NU had a very similar setup. We had a few signs on the daily so I looked for further clues.
The last line of defense for the buyers was broken...
Soon time to short then we had this:
Another simple trade pre-planned ahead of time.
Now as you may know NFP news came out on Friday but this was of no interest to me whatsoever.
Not once did I mention the news to the premium members when discussing the trade setups as news does not form part of my analysis.
Many people will talk about staying out of the market around news events like NFP because movements can be volatile but volatility is what we like.
As you can see all the news did is push price in our favour.
You only fear the news if you cannot read price correctly.
Once you can truely read and understand price action, you won't be afraid of the news. You will simply trade as normal.
If you'd like to know how to truely read price, just let me know and I will show you.
I hope you found this useful.
Any questions, just ask.