Weekly Trades: GBP/USD and EUR/CAD
|GBP/USD
Last Week
Short 1.2802 or anywhere to target 1.2648.
Highs 1.3170. Last week open price 1.2790.
Long 1.2648 to target 1.2686.
Highs 1.3170. Last week open price 1.2790.
Off 368 pips. Close 1.3076, off 274 pips
Short anywhere or 1.3079 and 1.3088 to target 1.2723.
Short below 1.2704 to target 1.2554.
Long 1.2723 to target 1.2814
EUR/CAD
Last Week
Short 1.5678 and 1.5685 to target 1.5473
Highs 1.5977
off 292 pips. Close 1.5784, off 100 pips
This week
Short 1.5820 and 1.5850 to target 1.5460.
13 pip change to target.
Current records to the present model dates almost 4 years or 208 weeks of trades. Weekly trades began at 10 and 12 currency pairs and for the past 2 ish years, 18 weekly currency pairs trade.
EUR/USD and GBP/USD were not only clear leaders over the past 3 weeks to drive cross pairs but such wild prices hasn't been seen in 208 weeks of trades. EUR/USD from high 1.1400's to low 1.1500's was done and an expected reverse experienced a 300 pip rise. GBP/USD likewise from 1.2800's decided to travel 300 pips higher.
Many years may pass until such wild prices are seen again. In non normal markets, 1 or maybe 2 currency pairs are misaligned or possibly an entire set of currencies such as all GBP or all EUR. GBP/CAD and EUR/GBP for example are problem currency pairs. But these factors are known in advance and offers clear warning to stand clear. Gold is a problem since overbought 1500's and now 1900's. We stand clear. Gold may travel higher, we stand clear until a normal trade exists.
In the meantime, we trade the new weekly trade to target which is at last week's entry and that means no losses.
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