Weekly Trades Summary July 31st 2020

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Weekly Trades Summary July 31st 2020

Hi Traders! Weekly Trades Summary July 31st 2020 is here. 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 and how it has currently developed now.

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Note: As you know, we always summarized the performance of the systems. But now, for the next few weeks, we are busy with migrating our technology to new servers and update the technical tools we use, so until we solve it, we can’t upload images of the systems.

Meanwhile, to keep the pace and the value for our followers, I decided to do weekly summaries of the blog posts, the trading view posts, and to show how well they worked, or not, what validates our setups and what invalidates them, and to help my followers to understand better my trading techniques and how I implement them

I hope you find it useful and helpful and would appreciate your feedback below, in the comments section.

First, we will see the trade ideas that I shared in my blog:

Blog Ideas

EURCAD – My idea here was “On the H1 chart, the price which is moving higher has created a bullish trend pattern in the form of three higher highs, higher lows which we may consider as evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then further continuation higher. Currently, it looks like a correction is happening, once this correction completes itself we may then expect the price to continue higher further”.

Weekly Trades Summary July 31st 2020Current Scenario – So based on the above-mentioned analysis, my view was bullish here and I was expecting the price to continue higher further. After the bullish trend pattern, we had a classical correction in the form of double wave down with the price creating a bullish divergence between the two waves. The price then moved higher and broke above the most recent downtrend line, retested it, and moved higher further, delivering 320+ pips move so far. If you are still involved in the buys then this is a very important place to consider and manage your trade (cash out or partial cash out or trailing protections or partial hedge, etc.. depending on the strategy that you work with).

Note: If you want to learn about Money Management you can find it here

Weekly Trades Summary July 31st 2020

 

 

GBPJPY – My idea here was “On the H4 chart, the price which is moving higher has created a bullish trend pattern in the form of three higher highs, higher lows, which we may consider as evidence of bullish pressure. Generally, after a bullish trend pattern we may expect correction to happen and then further continuation higher. Currently, it looks like the correction that we were looking for happened and the price reached an important support zone, respected it, and is moving higher. We also had a bullish hidden divergence that had formed between the first low that has formed on 17th July 2020 and the second low that has formed on 24th July 2020 based on the MACD indicator which we may consider as another evidence of bullish pressure. In addition to this, based on the Parabolic Sar we could see that the dots are below the price which we may consider as yet another evidence of bullish pressure. So the bottom line here is that the H4 chart has evidences supporting the bullish view and until the important support zone holds I expect the price to continue higher further. If we get a valid breakout below this important support zone then this bullish view will be invalidated”.

Weekly Trades Summary July 31st 2020Current scenario – In this pair my view was bullish and I was expecting the price to move higher further after the bullish trend pattern. On the H4 chart, the price action followed my analysis and moved higher further delivering 220+ pips move so far. If you are still involved in the buys then this is a very important place to consider and manage your trade (cash out or partial cash out or trailing protections or partial hedge, etc.. depending on the strategy that you work with).

Weekly Trades Summary July 31st 2020

 

 

AUDJPY – My idea here was “On the H4 chart, we had a first leg down and then the price which was moving inside a consolidation has currently broken below it. In addition to this, we have a good uptrend line that has formed and the price which was respecting this dynamic support so far and has currently broken below it. We may consider these as evidences of bearish pressure. Also, we have an uptrend line breakout based on the CCI indicator as well, which we may consider as yet another evidence of bearish pressure. So based on all this, my view is bearish here and I expect the price to continue lower further”.

Weekly Trades Summary July 31st 2020Current Scenario – In this pair, my bearish idea failed. On the H4 chart, after the breakout of the consolidation and the uptrend line, I was expecting the price to continue lower further. But alternatively the price moved back inside the consolidation and is currently breaking above it. Also the uptrend line breakout turned into a false break. My current view on this pair is neutral.

Weekly Trades Summary July 31st 2020

 

 

Trading View

Dax– My idea here was as follows:

D1 – Price is respecting the 13,000 psychological level. False break with bearish divergence.

Expecting corrections to happen now.

H4 – Head and shoulders pattern. Currently, the price has broken below the neckline.

Expecting the price to continue lower further.

Weekly Trades Summary July 31st 2020Current Scenario – On the H4 chart after the head and shoulders neckline breakout, the price moved lower further as I expected in my forecast and delivered a fantastic move to the downside. If you are still involved in the sells then this is a very important place to consider and manage your trade (cash out or partial cash out or trailing protections or partial hedge, etc.. depending on the strategy that you work with).

Weekly Trades Summary July 31st 2020

 

EURUSD – My idea here was as follows:

D1 – Price still has room higher towards the key resistance zone.

There are no evidences that show the current trend is over yet. Expecting further continuation higher in the short term.

H1 – Until the key support zone shown in the chart holds, I expect the price to continue higher further in the short term.

Invalidation – If we get a valid breakout below this key support zone then this short term bullish view will be invalidated.

Weekly Trades Summary July 31st 2020Current Scenario – On the H1 chart I was expecting the price to continue higher further in the short term until the key support zone holds. The price moved higher as per my idea and the key support zone was holding, most importantly there were no contradictory signs. The price then moved higher further delivering 190+ pips move. If you are still involved in the buys then this is a very important place to consider and manage your trade (cash out or partial cash out or trailing protections or partial hedge, etc.. depending on the strategy that you work with).

Weekly Trades Summary July 31st 2020

Litecoin – My idea here was as follows:

D1 – Price has broken above a strong resistance zone and is holding above it.

There are no evidences that show the current trend is over yet.

H4 – On the H4 chart we could see that the price which is moving higher has created a bullish trend pattern.

Currently, it looks like a correction is happening. Expecting further continuation higher after corrections.

H1 – Until the key support zone shown in the chart holds my short term view remains bullish here.

Weekly Trades Summary July 31st 2020
Current Scenario – Based on the above-mentioned analysis my short term view was bullish here and I was expecting the price to move higher further. On the H1 chart, the price moved higher exactly as I expected it to, delivering a nice move to the upside.
Weekly Trades Summary July 31st 2020Currently, we have a bearish divergence in play, this is something that we need to pay attention to. If you are still involved in the buys then this is a very important place to consider and manage your trade (cash out or partial cash out or trailing protections or partial hedge, etc.. depending on the strategy that you work with).
Weekly Trades Summary July 31st 2020

(Note: You can follow me here on Trading View and also on my blog to get similar ideas on daily basis)

For similar trade ideas and much more join the Traders Academy Club and get access to our complete watch list and trade report. 

This is how the report looks like. A table with the hottest market opportunities, screenshot behind every pair and time frame (anything that is in blue inside the table is clickable and leads to a screenshot) + a summary in text format, kind of highlights. And of course Live Market Analysis every single day.

Weekly Trades Summary July 31st 2020

 

If you have any further questions, don’t hesitate to drop a comment below!

 

To your success,

Vladimir Ribakov
Certified Financial Technician

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