IT WAS A BUSY WEEK
On 30th October (Monday), we held our free weekly Alpha Play Weekly Traders Meetup, during which we shared our analysis and insights on upcoming news events to watch out for the week ahead.
There were several key risk events to take note of last week, and it was indeed a busy week in the currency market. One of the key currency pair we shared during the meetup was the AUDJPY, where we were interested in looking for a short term counter trend trade to the upside.
After a profitable trade on AUDJPY the previous week, we saw the price hitting the minimum expectation with a diagonal structure on the lower timeframe. This gave us the reason to expect a short term bounce to the upside before another potential move lower.
Thus we took the opportunity to long the AUDJPY pair last week, closing the trade with a +75 pips profit, that’s about $750 profit traded with a position size of one lot.
A $2,650 Profit Week With Our Community
A shoutout to all traders who managed to capture some profits from the market last week!
Watch the video recording below to understand how we traded and profited from the AUDJPY, NZDCAD and EURUSD trade.
NZDCAD short trade closed for a +55 pips ($550) profit.
EURUSD short trade taken by one of our students, currently running at a +125 pips ($1,250) profit.
AUDCAD short trade taken by one of our students for a +80 pips ($800) profit.
For us, we took the EURUSD trade with a breakout entry, currently running with a +50 pips ($500) profit.