I held a live trading room webinar last night NZT for my clients in which I took several live trades.
4 out of 5 x H1 chart trades hit full profit, 2 out of 3 x 5 minute charts trades hit full profit and 1 out of 1 x H4 chart trade hit full profit. If the risk on each of these 9 trades was just 0.5% there was a +5% account gain to be made.
The clocks change this weekend in the US which will mean that from next week the D1 charts will change over 1 hour later for those living outside of the US.
There is a public holiday in France and Italy today but that is unlikely to affect the EUR.
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.
Overall there is strength in USD, GBP, CAD and JPY.
Overall there is weakness in the EUR, CHF and AUD.
Trading Directions I am favouring for the next 24 hours
Buy Trades – GBP/AUD, GBP/CHF, AUD/CAD, USD/CHF, CAD/CHF
Sell Trades – EUR/USD, EUR/JPY, EUR/GBP, EUR/NZD, EUR/CAD, CHF/JPY, AUD/USD, AUD/JPY, USD/CAD, XAG/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