Thank you very much too all the new followers and for such lovely comments on our EUR/AUD Trades. All the time we get various questions like is it too late to get into a new trade or have I missed the trades.
The market have been quite choppy as of recent and one word PATIENCE. Last week on the 21st of October we finally hit target of 333 Pips on the euro with our elite traders. The trick to trading is to be able to hold a trade till it hits profit and not get caught in the market chop. Once you have the confidence that a particular currency is going to go down you should take advantage of this and have the courage to hold.
When you have conviction in a trade then you should sell and hold with the correct risk management. We already took this trade at Platinum and are in profit by 333 Pips with a net profit of over £248,000 per trade.
Yes, this is correct!
See the Pips and proof
Today, I want to show you that you can still take advantage of this move and make money in the coming weeks. Now, if you are new to FOREX trading, do not worry please just send me a message and I can show you how easy it is to trade currencies in a free 30-minute consultation
Live Trades Running with a profit of 384 Pips profit:
Remember at Platinum, we teach all individuals from different walks of life to become a trader or create a secondary revenue stream.
As most of you know, I always study the fundamentals first for any currency and then move on the technicals because I believe this gives me a true edge to trading currencies.
Let’s talk about and understand what is going on with the Euro:
EUR/USD – Weekly Closing Price: 1.0881
At Platinum we have been telling you about the euro and the horrible state it is in and this was only a matter time. EUR/USD had a bad week, falling to a 7 month low amid the ECB meeting. Will it continue lower? A mix of PMIs, inflation data and yet another speech from Draghi stand out. Draghi left us speculating about the next move of the ECB, but that will come in December. The euro initially ran higher when he said that extending QE was not discussed, but fell sharply once we learned they did not discuss anything. The combination of low inflation (confirmed this week), downside risks and unconvincing growth dampens the picture and the euro reached 7 month lows. In the US, the dollar took a breather after the previous gains, but resumed the upwards trend also enjoying the better-than-expected existing home sales.
So what’s going on with the Euro that Platinum analysts think it will make profit?
Platinum Trading Strategy for the Euro
The euro is bearish full stop. With the fundamentals fully supporting us the key level for the bears is now 1.0955 as long as we stay below this level on a daily basis we could and should revisit the 1.0600 level as a minimum. The key level of support at 1.0790 is the holding level once this clears we are off.
HOW TO TRADE THE EUR/USD PAIR?
- A) Short the EUR/USD @1.0955 or nearest zone with a 40 Pips stop loss and a target of 1.0600
- B) Place alerts on the major and minor support areas and go for 20/20 trades
When someone first hears the words technical analysis they tend to over think and start believing that trading is too difficult and time consuming. Believe me every single chart that you can see that I have published is very basic just outlining how the trade is produced.
We have a belief here at Platinum that –
Perfect Trade = Perfect Fundamental + Perfect Technical Analysis + Perfect Logic + Perfect Risk Management.
So with the above in mind let’s talk about the piptastic opportunities that are coming to the Platinum Trading Floor in the month of November
Before I move ahead ALWAYS USE STOP LOSSES IN TRADING AND ALSO WE ARE NOT GIVING YOU TRADING ADVICE.
IMPORTANT LEVELS TO KEEP AN EYE ON FOR BUYS AND SELLS
1.1335 worked as the bottom bound of a higher range and then capped recovery attempts in May. 1.1230 capped the pair after the fall in May and worked as resistance.
1.1190 is the post-Brexit high seen in July. 1.1125 cushioned the pair in early September. 1.1070 served as a clear separator of ranges during February and also beforehand.
1.10 is a round number and significant resistance. 1.0905 is the swing low seen in June and serves as a weak support. 1.0825 worked as support in early March 2015 and should also be watched. This is now a triple bottom.
The post-Draghi low 1.0780 replaces 1.08 as support. 1.0710 is the next support line on the chart after temporarily capping the pair in April 2015.
Further below, the 2016 low of 1.0520 and the 2015 low of 1.0460 provide further support.
I remain bearish on EUR/USD
Monetary policy divergence is in play and will likely continue. EUR/USD traded in a narrow range for too long. When it finally chose a direction, to the downside, this trend could last. Draghi could use his public appearance to hit the euro when it’s down
All trades should have a stop loss not more than 40 Pips as stated on the chart. Place alerts at these level and watch the profitability in front of your eyes and we can have over a 200 Pips move in one day, so please learn Sell and hold.
So how can you trade the above fundamental events? Get in touch a book a Consultation with a trading mentor to discuss the trades and strategies we use.
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The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.