This week saw many great trading opportunities, especially in the World Index markets. Three up days early in the week followed by 2 down days saw the markets close about even for the week, however shorter term traders had profitable long trades early and then some great short trades later in the week.
Some nice moves also on the AUD, with all four pairs that I trade closing out profitable long AUD trades and then a reversal setting up some good short trades. The EUR also had a reversal this week from short to long. A couple of small wins, a breakeven and a small loss from these.
The GBP was mixed, with AUD and USD closing out winning trades, while the GBP/JPY was all over the place and a couple of losses resulted. USD trades going nicely with AUD, EUR and GBP trades all in profit.
Copper closed out a breakeven long trade, Silver and Gold pretty messy with two losers on Silver, and two break-even trades one the yellow metal.
Oil broke above the neckline of the double bottom pattern triggering a long trade.
Bitcoin Futures continued their march north early in the week and then paused on Thursday and Friday. Bitcoin has doubled since the mid-March lows.
No signals for me in ASX equities, but overall and awesome week for trading.
The week ahead will most likely be news driven, with COVID 19 news and fundamental economic data being the drivers.
To learn how to find these trading opportunities, you can enrol in one of my online trading courses. More information can be found in our Online Learning Portal.
