Last Week We Crush It! Here's Our Trades
Last week ToniSignals took a number of trades, focusing on risk off flows. Risk off flows means that the market sentiment is negative towards taking risk, so safe haven assets such as gold, USD, CHF, and JPY typically appreciate.
Last Weeks Trades
Last week we caught some great swing trades (meaning that we held them for a while). Without any further ado lets recap the trades we took, and why we took them!
EURAUD
We bought EURAUD after price broke to the upside of the resistance trendline, and the RSI was giving strong bullish divergence. Press play below to see how the trade played out!
EUR/AUD Signal - EUR Trade Balance - 13 Aug 2021 by ToniSignals on TradingView.com
EURJPY
We sold EURJPY after it had broken the ascending support trendline and bullish structure. We saw price forming a corrective wedge pattern, and shorted the cross forex pair at the end of the wedge. Click play below to see how the trade played out!
EUR/JPY Signal - EUR Trade Balance - 13 Aug 2021 by ToniSignals on TradingView.com
USDCAD
We bough USDCAD at a key structural level. This trade used a low risk to reward, however this particular strategy has a high win rate. Price was also bouncing around a key level on the daily chart, giving an extra confluence to the trade that we spotted on the 1h chart. Click play below to see how this trade played out.
USD/CAD Signal - USD Producer Price Index -12 Aug 2021 by ToniSignals on TradingView.com
USDJPY
USDJPY was forming an ascending wedge pattern into a key daily resistance zone. The RSI was also showing overbought levels, and we sold. Our friends at HCN also had sent us an article on USDJPY Bearish seasonality in August, adding extra confluence to this trade! Click play below to see how this trade unravelled.
USD/JPY Signal - USD CPI - 11 Aug 2021 by ToniSignals on TradingView.com