Hi Traders! Here is the weekly trades summary July 13th 2018. Second trading week of July is over. It is now time to recap and summarize the trade setups that we had this week. Below you will find the short explanation of all setups we had in this week.
USDCAD – Price is moving exactly as per our plan. We are after buys now.
USDJPY – Setup invalidated.
Gold – Price is currently moving lower towards the critical zone. Currently the price has moved lower below the low at 1237.15. We may now wait for the price to break below the 100% fibo expansion level with potential bullish divergence to form. Once the divergence completes itself, we may consider it as an evidence of bullish pressure, we may then look for more bullish evidences and start looking for buys.
Oil – Our plan here is to look for pullbacks and sells. Currently it looks like a correction is happening (the correction might be flat instead of a double wave up), once the correction completes itself, we may then start looking for sells with bearish evidences.
GBPUSD – Aggressive buys with the TL breakout failed. Conservative entry not triggered.
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Have a nice weekend!
Yours to your success,