If you have read my previous blog post, I told you to keep a lookout at the 2 levels of support and resistance on the EURUSD as well as the 2 levels of S&R for the GBPUSD.
The price has made a valid breakout of the trend channel on the EURUSD and GBPUSD yesterday and I hope that you have made some decent profits from it.
As what I have told you in my post, once it breaks through, it will produce a big movement which is what we have been trying to capture all these weeks in August.
As the price has been moving in a trend channel, most of our trades ended up as a breakeven trades in the end.
As the price broke the trend channel yesterday which triggered my trend strategy at the same time, we have enter BUY trades for the EURUSD and GBPUSD at the same time
Below is the live trade video of the trades
If you are a user of my trade copier, you will see these 2 trades on your account as well.
For the GBPUSD, we have exit it at 100 pips profits yesterday and we exit the EURUSD at 40 pips profits as it retraces. So we have made a nice 140 pips profits yesterday.
As the price retraces, we have entered BUY trade for the EURUSD and GBPUSD again. At the time of writing, the EURUSD is in 20 pips profits and we have shifted the stop loss to breakeven.
Below is the screenshot of the 2 trades that are ongoing now
The reason why I added in the trend strategy to the service is because it gives us a very high risk reward ratio of 1:4. I will be posting the trading report for my Trend strategy from this month onward so that you can see how good the strategy is.
During this bad economic period of the COVID 19, I must say that the best way to generate an extra income is through trading forex. Therefore if you have not yet master how to trade the currency, you have to really think about it.
With more job losses and instability, learning a skill that can generate money for you is extremely important.
For this post, I am going to share with you another signal for the GBPJPY as I know that a lot of you are struggling financially and I hope that this post can make some money for you.
My Signal For GBPJPY
For the GBPJPY, you can see that there is a major resistance at 139.663.
Once the price produces a valid breakout of that level, you can expect it to move another 100 pips again.
For those of you in my trade copier, do not worry as I will do the trade for you.
If you are interested to learn my strategies in trading forex as well as use my trade copier service, you can take a look at the link below for more information
Do note that there is a promotion where you can get a 30 days free trial to my trade copier where you can try out my service at no risk.