I want to give you a general overview of open trades on our signal and how we will move next week.
All AUD trades are under my control. In particular AUD-JPY has a very good support in the area of 77.80-77.90 which has not been broken.
This means that our TP is still valid. These are 2 small trades of 0.02 lots with positive SWAP that will give us a good profit, we are not in a hurry for these.
If the 77.80 support is broken we will only open one more trades around 77.40 and we will not force the hand over.
The other long AUD and CHF trades are expected to close positively by next week.
As for the GBP trades on Friday we have witnessed something that is rarely seen,
The Lords who govern the market have launched the lure to make everyone go on sale and then without
any apparent motivation we found ourselves throwing the pound sky high.
The beginning of the week will be equally lively for the pound with the news of the agreements between May and the parliament
that will define if it will go towards a soft or a hard Brexit.
I give you an overview regarding GBP-USD (the other currencies will follow the same evolution).
The most realistic current level for GPBUSD is around 1.3050, a sort of BULL TRAP has been created,
and the 1.3170 area is a strong resistance all makes us think that it should retrace downwards.
If the level of 1.3170 will be broken (because of Brexit news) the next ones will be 1.31897 and then 1.32545.
For this situation of uncertainty no other trades will be opened on GPB next week, we have calculated to open at most two 0.01microlots trades
per cross only after the news that we are waiting for Brexit will be released.
Thanks to the small lots used the situation is completely under control and at most we could see a DD that will get
up close to 10% in the worst case scenario.
In the event that the market will be opposed to us, we will not force our hand on the Pound
further and wait for better moments. The totality of the GBP open trades will generate positive SWAP that will patiently take us and be winners.
In this regard I would like you to have a look at my recent history:
Two XAU-USD trades were closed last week, opened in December, being only 0.01lots, they did not cause any concern,
and they were closed in profit taking advantage of the positive Swap trade, which is why they must always be taken into consideration.
While waiting to see the situation of the Pound resolved, we will continue to work on other crosses to get a good profit with minimal risk.
"Always remember the patient is the key,never allow your emotions to control you"