Watch David Hickson’s Trading Summary Video.
It has been a profitable week for us. In this video I discuss the open trades we have and what to expect next.
S&P 500: Our short trade last week hit T1 & T2, and we have only the trade three still open, with a breakeven stop. Next we have either a category E long trading opportunity, or a category G interaction which would mean no long trade.
NASDAQ: Last week’s short trade also hit both T1 and T2, locking in a good profit for this trading opportunity. Trade three has a breakeven stop in place. I discuss the possibility that this is actually an H-category trade, implying an A long trade next.
EURUSD: The Euro probably formed its 40-week cycle trough last week and we entered into a long A-category trade, which has already taken profit at T1 and T2. Trade three has a breakeven stop in place, and the 3-bar trailing stop will be implemented.
GBPUSD: The A category trade that I discussed last week as being already complete would have either been closed last week if you set a tight stop, or it would have morphed into the current C-category long trade. If the A-category trade had been stopped out then the C-category long trade would be the current trade. Our T1 target was reached, and price reached to within a few ticks of T2.
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