Another fantastic 2 hour live trading room webinar for my clients yesterday. I took 3 live trades during the webinar plus there were many other open trades that we talked about. We also reviewed H4 chart trades that have been taken over the previous 2 weeks. There was a 70% win rate on those trades. If you would like to find out more about these webinars, please email me here.
I make my suggestions every day based on where I see the market heading over the next 24 hours. Use my analysis below to aid your trading and to help you keep on the right side of the market.
My suggestions are posted by 6pm EST each day.
The US Non-Farm Payroll (employment) figures are announced later today, at 8:30am EST. It would be a wise idea to close out of all shorter time frame charts before the announcement. In most cases, it would also be a good idea to be closed out of any longer time frame chart trades too.
Overall there is strength in the USD, CAD and GBP.
Overall there is weakness CHF, EUR and AUD.
Trading Directions I am favouring for the next 24 hours
Buy Trades – GBP/CHF, USD/CHF, CAD/CHF
Sell Trades – EUR/USD, EUR/GBP, EUR/CAD, CHF/JPY, AUD/USD
VERY IMPORTANT: These are not specific trades. Do not blindly place trades in the directions given below. Use your own trading strategy and look at taking setups that occur in the same direction as my daily analysis. If you don’t have your own trading strategy then email me here for help.
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Have a fantastic weekend.
– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator