Recapping A Great Week In The Markets
Last week we had a great week in the forex markets, bagging some trades with great risk-to-reward ratios. Take a read through our recap to see how we spotted these high return trades!
The Trades
Before we get started it's important to note that trading is a game of probabilities. The reasons that we took these trades create an edge in the markets over a larger set of trades, however the outcome of any one trade are always uncertain.
GBPUSD
We took a GBPUSD short position after cable had broken the ascending support trendline and the bullish structure. Once price had retested the support turned resistance we entered a sell trade. We profited 130 pips on this trade!
GBP/USD Signal - GBP Trade Balance - 12 Aug 2021 by ToniSignals on TradingView.com
NZDUSD
We took a sell trade on NZDUSD after the pair formed a large downside wick following the NZD Rate Decision. The rate decision was a disappointment for NZD bulls, as the RBNZ did not raise rates, however we caught this great 50+ pip gainer on the back of it!
NZD/USD Signal - RBNZ Rate Decision - 18 Aug 2021 by ToniSignals on TradingView.com
USDCAD
We bought USDCAD once it broke a key resistance level amid a wave of USD strength. The risk off sentiment in markets was extremely strong which was appreciating the US dollar, combined with the Oil price depreciating which was dragging the CAD down made for 2 great fundamental reasons to take this trade. We bagged 80+ pips on this one, and some of our followers held beyond Take Profit to maximise the gains!
USD/CAD Signal - USD Retail Sales - 17 Aug 2021 by ToniSignals on TradingView.com