Hi Traders! Weekly Trades Summary January 4th 2019 is here. First trading week of January is over. It is now time to recap and summarize the trade setups that we had during this week. Below you will find the short explanation of all the trade setups we had in this week.
CADCHF – The price is moving exactly as per our plan and currently it looks like the pullback that we were looking for is happening. Once the pullback completes itself, we may then look for more evidences of bearish pressure and then start looking for sells.
Note: This sell setup is valid until the price holds below the 0.74 zone.
GBPCAD – We got the move down but not in the structure I was looking for.
EURGBP – Price is moving exactly as per our plan, we have collected nice profits so far.
USDCHF – Price didn’t push higher as we expected but it is currently moving inside a triangle pattern. If the price breaks and holds below this pattern, we may then consider this as an evidence of bearish pressure and then start looking for sells with more bearish evidences towards the bottom of the weekly triangle.
Alternatively if the price pushes higher, we can follow up with the original sell plan.
Note: This sell setup is valid until the invalidation zone holds.
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Have a nice weekend!
Yours to your success,