Hello Traders,
How are y’all doing?
I am cool and calm over here, just that the market has been quite erratic and few quality signals are out there (in my opinion).
I took just one trade (GBP/CHF) last week and it’s still pending. Price has been going back and forth around my entry point (hahaha).
I also had one bad trade.
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So, let’s see what the market has for us this week…
1. GBP/JPY
Last week price on the GBP/JPY has been playing within the consolidation band.
Judging from the double Dojis formed, are we going to see a bullish move this week?
Well, for the conservative traders, all we should be looking out for is a bullish breakout of resistance level 135.701 (which is also a consolidation band)
If price could do us that favor, we may most likely see price hit the next possible resistance level (140.993).
2. EUR/CHF
EUR/CHF has broken the 1.05202 support level.
All we should be waiting for is a sell confirmation.
The next possible support level for EUR/CHF would be 1.03211.
I would also recommend that if you are taking this trade, you need loads of patience because this is a swing trade.
Price will most likely take days/weeks to hit our proposed target if we are fortunate enough.
So, if you are a day trader, I suggest you MAY want to stay off this trade.
That’s all we have for the week, but I am sure we will have more trade opportunities as the week progresses, and if we do, I will share with you here.
What do you think of these setups?
Kindly comment below.
I wish you a pip-full week ahead.
