Week 11 starting on 12th March and ending 16th March was a very profitable week. There were 8 trades in total with 5 big wins and 2 small loses. The total Net pips recorded was + 525 pips. The following discusses about the setups and how we traded them.
SETUP 1: NZDCAD Long
This was expected to be the 4th wave of an impulsive rally on NZDCAD. After confirmation from price, we decided to buy the dip. It ended up to be a good decision. We were triggered and about 24 hours after, price rallied above our final target. We closed at +104 Pips. It was a big win. More than 1:3 R/R at the final target.
SETUP 2: Gold Long
The larger degree wave pattern of Gold showed price moving within a range. At the lower time frame, we saw price making a 3-wave correction upside after completing a 5-wave down. We bought the pullback. We got triggered. Though the dip went lower than our entry, a rally quickly followed. We adjusted our SL to lower SL from about 72 Pips to 45 Pips. Price started spiky moves, took us out at the adjusted SL and rallied to our second target. Our initial SL wasn’t hit as price stayed a while upside. We took a loss of 40 Pips.
SETUP 3: AUDNZD Short
We discovered the completion of an important corrective wave structure and sold the rally expecting price to continue downside. This happened to be our longest trade of the week. We got triggered and price continued downside just as expected. This was another big win with more than 1:3 R/R. Final target was hit for a profit of 115 Pips.
SETUP 4: AUDJPY short
We got this setup after the AUDNZD but this one triggered first. A fast pullllback as expected and price dropped massively beyond our target. It was another big win with more than 1:3 R/R. We recorded 155 Pips profit.
SETUP 5: NZDCAD Short
An impulse wave completed with a ‘head and shoulder’ pattern top and we sold the breakout. Shortly after price violated the structure of our setup and we had the opportunity to exit early. We exited with just 5 Pips loss – almost breakeven.
SETUP 6: EURUSD Short.
We have been hitting targets on EURUSD in past weeks. This time was no different. A corrective wave structure completed and we sold the rally. We were triggered and price went just as expected giving 105 Pips in profit. Another big win with R/R more than 1:3.
SETUP 7: Gold Short
A similar setup to EURUSD discussed in Setup 6 above. They were triggered almost the same time and we had double big wins. We recorded 108 Pips profit which was more than 1:3 R/R.
This was another good bullish setup. We bought the dip expecting price to go further upside. But the dip was far deeper and close to our SL. There was a recovery and we kept the trade running. Eventually, the dip that followed was big and swept us away. A loss of 32 Pips
And that ended all our positions last week. The following is the summary.
Week 11 was very good. We recorded 5 big wins and 2 small losses making more than 25% assuming risking 2% per trade. Join our Premium Telegram channel to enjoy all our analysis, trade setups and signals that will make you 20-50% ROI per month. See how to join below.
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