After the bexit vote last week, many pairs got into a corrective mode getting ready to continue their trend. On the shorter term there were some very good opportunities. Another “no loss week”! Many setups didn’t get triggered but the ones that did, brought us good amount of pips because we waited for the best risk:reward setups.. This is why patience is so important. Don’t force the trade if it is not giving you what you want.
Weekly Recap:
USDJPY – The scenario I was expecting didn’t happen. No Trigger.
NZDUSD – This setup as well went for another formation. No Trigger.
Gold – It seem that the pair is going for something that starts to remind a triangle instead a double wave down which would’ve provide us with better risk:reward for our buy plan.
EURCHF – This pair bounced a bit earlier than i wanted it to and it didn’t provide the risk:reward i was looking for. Stay tuned for updates on this one in my weekly forecast video.
Oil – A sell entry was triggered just by the plan we had. Pair went up reaching 161.8%, broke the up trend line and provided a great sell opportunity. This trade is already risk free with the SL at break even.
NZDCAD – We got a perfect sell call with the H1 false break of the trend line, worked out great.
GBPNZD – The bearish momentum kicked in before the sell zone we had in mind.
NZDUSD – One more perfect entry providing a risk:reward of at least 1:2.
EURUSD – We have a running sell in EURUSD.
USDCAD – No false break, no entry. Stay tuned for updated in my weekly video.
Oil 2 – The move started before the levels I was looking for to sell.
EURGBP – No entry.
One day a fisherman was lying on a beautiful beach, with his fishing pole propped up in the sand and his solitary line cast out into the sparkling blue surf. He was enjoying the warmth of the afternoon sun and the prospect of catching a fish.
About that time, a businessman came walking down the beach, trying to relieve some of the stress of his workday. He noticed the fisherman sitting on the beach and decided to find out why this fisherman was fishing instead of working harder to make a living for himself and his family.
“You aren’t going to catch many fish that way,” said the businessman to the fisherman, “you should be working rather than lying on the beach!”
The fisherman looked up at the businessman, smiled and replied, “And what will my reward be?”
“Well, you can get bigger nets and catch more fish!” was the businessman’s answer.
“And then what will my reward be?” asked the fisherman, still smiling.
The businessman replied, “You will make money and you’ll be able to buy a boat, which will then result in larger catches of fish!”
“And then what will my reward be?” asked the fisherman again.
The businessman was beginning to get a little irritated with the fisherman’s questions. “You can buy a bigger boat, and hire some people to work for you!” he said.
“And then what will my reward be?” repeated the fisherman.
The businessman was getting angry. “Don’t you understand? You can build up a fleet of fishing boats, sail all over the world, and let all your employees catch fish for you!”
Once again the fisherman asked, “And then what will my reward be?”
The businessman was red with rage and shouted at the fisherman, “Don’t you understand that you can become so rich that you will never have to work for your living again! You can spend all the rest of your days sitting on this beach, looking at the sunset. You won’t have a care in the world!”
The fisherman, still smiling, looked up and said, “And what do you think I’m doing right now?”Have an amazing rest of the day and weekend!
Yours,
Vladimir
