Hey guys! We are into the first half of August month and after a little slow start charts are working well again getting the momentum back to finish the rest of the month strong. Had some good wins this week in the Best Forex Signal group and the community made some nice gains. There were some missed moves as well which I talk about at the end, lets dive into it.
VIP Forex Signals
Started the week with this beautiful trade in EUR/GBP that was a quick winner. A classic supply zone trade there was an aggressive push to the downside from 0.86254 level that made it my area of interest. The price tested the zone again and dropped quickly after the liquidity grab, I placed a sell market order at 0.86162 and it went straight to my TP in less than 30 minutes.
This is what i like to see, quick and aggressive move smashing the TP and some more. I break down the trade here watch to learn more details about it.
Had a couple of trades in the middle that didn’t show an ideal reaction in the zone that i like so I canceled those and VIP members got detailed reports on them. Free forex signal group also received one of these trades with detailed multi-timeframe analysis and support/resistance levels marked to help members make good trading decisions all for free.
Perfect Supply Zone Trading
Then we had another win in VIP in AUD/CHF pair, again a supply zone trade based on long-term bias. Swiss Franc has been in a bull run recently after it tested a huge support level of 100.00 The higher timeframe analysis showed a clear downtrend in AUD/CHF.
I marked my zones and levels, the price faced good resistance from the 0.57419 level and dropped aggressively forming a supply zone. I sent a sell-stop order at 0.57326 in the VIP room once Price tested my zone and saw a reaction. It did spend some time around the entry level which i don’t really like but it picked momentum and smashed my TP for a 13.5 pips win. I banked over $1300 in this one.
On Thursday morning VIP room was sent bullish bias for the US Dollar along with medium-term bias for other pairs that is published every day at the start of the trading session.
I analyzed the charts and marked my zones for the day. GBP/USD pair looked really interesting it tested a resistance level of 1.27854 and attempted to break it but failed resulting in a liquidity grab. The price then shot strongly to the downside giving me a sell signal.
It was a beauty trade that made us 36 pips and a sweet $1000 for me. It just kept dropping after my target at a recent level was smashed. This was the missed move i was talking about at the start. The goal is to make as much as possible from moves like this and to achieve that we will be more flexible with the target going forward.
Ended the week with a net return of 1.63%(28 pips), not the ideal return that I expect but I’m happy as long as everyone made money for the week.
What We’re Looking at in VIP Next Week
There are lots to come in the rest of the month. US Dollar has finally broken a major key level of 102.785 this indicates a bull run in the coming days.
Aligning with the bullish bias on US Dollar, the NZD/USD pair is a perfect candidate for short-side trading. Price has reacted strongly from the key level of 0.60955 forming a supply zone. As of now, this is my area of interest i will be looking to trade off this zone or adjust it if the move continues
Another potential trade that is on my radar is a long setup in CAD/JPY. The medium-term trend is bullish and the pair has bounced off a key level of 106.00 as of now 106.980 level has strong support and a pullback to this zone will provide us a great trading opportunity.
Although this month started slow but this week we had some wins and going forward I see more wins coming and charts are looking better. I see multiple pairs that are reacting off key levels that’ll provide great trading opportunities. Come join VIP to win with me.
Watch this video on my channel where i teach you an awesome GOLD-specific strategy with 85% win rate: