Big Trades Coming This Week.

I hope everyone is doing great today.

Let's do a recap of last week.

If you look at last week's update, I mentioned an AUDUSD short and a EURGBP long.

Make sure you check the link if you want to see how my forecast went.

I have one word to describe last week:

Chop!

Chop Chop Chopity Chop.

The market essentially did nothing.

There are more than one way to trade currencies even Warren Buffet has a method.

Understanding the type of market environment we are in is crucial. This week, it was choppy with sideways movement.

Attempting to capture big moves in a sideways market won't work and will likely result in trouble and accumulated losses.

With that being said, I had a much worse week than previously.

I managed only one small short trade for about 25 pips in the AUDUSD, netting around $100.

I also have some small EURGBP trades long right now, in which I am currently down about $1,200.

As this is a prop firm, I need to be very careful about how much risk I put on each trade.

Now, on to this week’s trades:

I am mainly watching the EURGBP from last week. 

We are sitting on top of the support level I was eyeing last week.

I am watching for the price to bounce off this level and move to the upside. I was anticipating this last week and it didn’t happen; now, I am patiently waiting this week for the move I was anticipating.

I will be stalking and waiting because the market will give me exactly what I am waiting for.

I am looking forward to seeing a break of the trendline. I am also looking to see if the price will drop down to the .85 area, at which point I expect to see a bounce.

I am considering doing a live trading session sometime soon.

If you're interested in that, stop by my video and leave me a comment, and I will schedule a trading session.

Just wait for this to break to the upside and we should have a nice trading opportunity.

To Your Trading Success,

Casey Stubbs