Hello traders! Weekly Summary May 19th 2017 is here. The week is near its end and it is time to quickly re-cap the trading opportunities that we had. This week was full of fundamentals and some of the pairs got stuck in ranges.
Here are the trade setups:
Gold – Trade is still valid. Conservative entry didn’t get triggered (Trendline breakout). Aggressive entry triggered first target was missed by few points. If you didn’t cash out yet, you can cash out now before weekend or move stop loss to break even and remove the risk from this trade.
AUDUSD – Trade Failed.
GBPCAD – Price reached the 1.75135 support zone and breakout of trendline happened, target 1 not reached yet. If you didn’t cash out yet, you can cash out now before weekend or move stop loss to break even and remove the risk from this trade.
AUDJPY – Trade invalidated as price reached the bottom of the range before we get a trigger.
GBPJPY – Trade Failed.
AUDCHF – Correction happened but the momentum we were looking for is not yet there. As weekend is approaching you can close this trade with a little profit or loss or you can still be in this trade.
Note: It is always recommended to move stop loss to break even once target 1 is reached. (If you are more conservative then you can move stop loss to break even once Risk Reward 1:1 is reached).
That’s all for now. We will look for new setups next week.
Have an amazing weekend!
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