Hello, dear traders!
Financial markets keep providing earning opportunities regularly, and we look for entry points and make deals. Seven signals to enter the market worked out this week, which is a good result for 4 days of working. Traditionally, today's analysis will include both results based on our text reviews and forecasts provided by our YouTube channel videos.
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Entry points' working out during the week:
Five entry points based on text reviews:
- EURJPY - the signal has worked out partially, profit of 28 pips was gained by the Safe rule. At momentum movement profit has reached 50-55 points, but the second take profit, placed at the distance of 84 pips from the market entry level, wasn't reached. Depending on the level entering the market has been performed at, the deal may either be closed or not. There are still chances to reach the second take profit.
- XAUUSD - for gold there was the same situation, the profit was gained by the Safe rule and made up 728 pips. There were no chances of reaching the second take profit, and as a result, the remaining was closed by stop at break even. Later the chart has updated the maximum, so if stop hadn't been moved to market entry level, you would have suffered losses.
- GBPJPY - the signal has worked out almost perfectly. Imbalance retest was followed by growth (moreover, bullish absorption was formed on one hour chart). Risk for long positions made up 51 pips; in the end, profit of the same size was gained by the Safe rule. Less than 20 pips were missing to reach the second take profit of 153 pips.
- NZDCHF - aggressive buy signal was received. The first take profit was reached at a sharp movement, which provided 24 pips of profit. Then a reversal took place, and the chart consolidated under the imbalance;
- AUDJPY - another example of Safe rule working out, which provided profit of 30 pips. The deal is still in the market, so possibility of reaching the second take profit still exists. At momentum movement profit has reached 45 pips, but then the chart got back closer to the level of opening the deal.
Mid-term forecasts working out
On Monday, we provided markets overview for the week in video format, 2 scenarios mentioned have worked out perfectly:
- EURUSD - the situation on this pair has exactly matched the forecast. On Tuesday and Wednesday false breakout of support at 1.1200 and W-shaped model formation were observed. Later on its total maximum at 1.1200 was broken through upwards, and price rounding was formed. One should have closed the entire volume at 1.1290; the deal provided 88 pips at a risk of 25 pips;
- GBPUSD - the signal for this pair is an exact copy of the EURUSD pattern. One should have opened long positions with stop of 50 pips as soon as imbalance retest has taken place. When using the Safe rule, this approach could have provided 50 and 150 pips for two take profits. Given the news background, the British might continue growing by the end of the week. In case the profit on this deal hasn't been closed yet, this can be done at the level of 1.27.
During the week there were several situations when the charts literally lacked 4-5 pips to perform imbalance retest. As a result, entry points weren't received, but target levels were reached. Sometimes such situations take place, but it's not recommended to enter the market violating strategy rules. Consider these cases as additional trading experience.
Good luck and see you on Monday.