Hi Traders! Here is the weekly summary October 20th 2017. Third trading week of October 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.
AUDUSD – This scenario is still valid as the price is still above 0.7800 zone. On the H4 chart price is retesting the uptrend line. The most conservative approach here would be wait for the price to go above the uptrend line, hold above it and also to break the high shown in the screenshot and then look for buys.
GBPUSD – Price moved as per our plan. We got real breakout of the trend line and price is holding below it. We are after sells.
EURCHF – Setup invalidated as price broke above the most recent high around 1.1560 before any entry was triggered.
Nike – Price moved as per our plan and broke above 52.35, we are after buys now.
Gold – On the H1 chart price created a double wave down, the second wave reached 61.8 and bounced from there. The most recent trend line has been broken now, we are after buys.
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That’s all for now, have a nice weekend.