1800 Pips Profit Potential on The Swiss Franc

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IT WAS A SPECTACULAR WEEK LAST WEEK!

I made a total of 680 pips trading AUD/CAD, EUR/CAD and the USD/CHF and if you had attended our free weekly profitable trades sharing session and traded on a lot size together with us, you would have pocketed a cool $6800. Not bad for a week’s trade at all!

More on that later. Let us turn our attention to the future for now.

I seldom look into the Swiss Franc currency pairs often, but these two setups, the EUR/CHF and GBP/CHF just broke into my “2018 Trade of the Year” watchlist.

Here’s a brief analysis of the trade setup –

Last week, the meeting minutes from the European Central Bank (ECB) was generally hawkish, providing some bullish sentiment on the Euro. However, I believe that as long as ECB maintains its easing policies, upside on the Euro may be limited.

Combining with the technical aspects on the chart, there is an ending diagonal structure forming, with a divergence on RSI as well. Furthermore, price has hit the minimum expected areas based on fibonacci extension between 100% – 123.6%.

These reasons provided me the conviction in looking for a longer term trade to the downside towards 1.0483 – 1.0739 area.

A very similar setup on GBP/CHF as well.

EUR/CHF

GBP/CHF

680 PIPS PROFIT LAST WEEK

3 trades hit my take profit target with a total of 680 pips last week.

AUD/CAD broke of out the downtrend structure impulsively, and started to form a corrective structure. This gave me the conviction to take a long trade targeting 0.9899.

Price of EUR/CAD fell in 3-waves, with a confluence of the bottom trend line as structure. In addition, there was also a fibonacci extension confluence at that area. I took the opportunity to long EUR/CAD, and price hit the target at 1.5212 shortly after that.

For the US Dollar Index (DXY), I saw price moving higher correctively, and based on my wave analysis, this move might be a potential wave 4 correction. This gave me the reason to expect that there is a high possibility price will move one more wave lower towards 91.13 – 91.71 area.

As I don’t trade the DXY directly, I look to the USD/CHF for a similar setup, and shorted the USD/CHF with the similar reason based on the DXY analysis.

AUD/CAD Before

EUR/CAD Before

Dollar Index Before

AUD/CAD After

EUR/CAD After

Dollar Index After

These are just some of the trades that we shared with our community of traders during our Weekly Traders Meetup. Join us for the upcoming meetup to see us in action.

EUR AND JPY IN FOCUS NEXT WEEK

Both the EUR and JPY have been hitting the headlines these two weeks, with EUR/USD breaking the previous high of 1.2094 back in 2017; and the JPY strengthening against the other currencies.

There were even mixed comments from the market with respect to a potential change in the ECB QE programme. The German coalition news also did inject signs of nervousness into the market.

Next week, the BOJ and ECB will be having their monetary policy statement released and press conference on Tuesday and Thursday respectively. Such risk events do provide us with opportunities to trade and profit from the market.

Join us this coming Monday, 22nd January, from 7.30pm to 9.30pm to find out how we will be trading and profiting from the EUR and JPY.

EUR

JPY

ATTEND OUR NEXT WEEKLY FOREX MEETUP

22ND JANUARY 2018

A free weekly meet-up where Alpha Play coaches share our outlook on the current market trends for currencies and how current affairs will affect the financial markets over the short and medium terms. This information is useful to Forex traders and even non traders curious about currencies trading.

*** Limited seats available so be sure to book yours fast! ***

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A self-taught trader, Kar Yong was once featured in Channel News Asia’s Money Mind Young Investor. He was also featured as a Social Guru on the eToro social trading platform where he led the path for more than a thousand traders in confusing market conditions by sharing his trading strategies through forums and blog posts. Today, he teaches his proprietary 4 Pillar Forex Trading Strategy to students from all over the world.

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