Here is the weekly summary August 18th 2017. Third trading week of August is near its end. It is now time to recap and summarize the trade setups that we had. Below you will find the short explanation of all setups we had this week.
USDJPY – Our Plan is still valid, the double wave correction that we were looking for is happening now. Our plan is valid as long as last low is holding
WesternUnion – Our Plan is still valid, the double wave correction that we were looking for is happening now. We want to see the price breaking below the blue line, then we can draw the trendline and wait for a breakout above it.
WellFargo – Our Plan is still valid, price is about to reach the bottom of the range. Once it reaches there we want to see higher high and/or trend line breakout to the upside to go ahead and buy.
Verizon – Our Plan is still valid, looks like a flat correction is happening now.
This is a possible scenario as we spoke in the original article and the more aggressive traders might try to buy near the bottom of this small channel.
GBPJPY – Setup invalidated. If we get a break above 143.20 we can look for buy opportunities again.
GBPUSD – Price is acting suspicious and trading inside a tight range. The bullish momentum I was looking for is not here and as it is Friday it is better to close any open positions and play conservative.
Gold – Our Plan is still valid, the buy setup has paid and regarding our sell plan, the price is moving as per our plan. Price pushed higher reaching the top creating bearish divergence. Now may look for a false break to happen and then we can start looking for sells.
AT&T – Plan is still valid. Last week in the weekly summary post we mentioned that
Scenario 1 – Plan is still valid – We want to see the price breaking below 37.95 first of all and then we can look for the trend line breakout.
Now 37.95 was broken down and this step is finished. All we want now is a break above the trendline. This setup is valid as long as 35.70 holds.
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