To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=fx_trading&ad=ugkc5-3FCM0 First off, starting here on the Greater British Pound versus the US Dollar [GBPUSD]. Yesterday, we saw the market rallying higher into the 1.4600-level, the pink-shaded area that’s up here at the very top of the chart. And I made note yesterday during the Trade Room that if it stayed within and under that pink zone, specifically getting underneath it and underneath the 1.4600-level, we might look for an opportunity to go short and sell this currency pair. So, as you look down here at the very bottom of the chart, you could see that I am in a short from the 1.4600-level. The current market is sitting right around 1.4560, so we’re sitting about 40 pips of profit on the trade. Saw a few more pips a few minutes ago as it dipped back down here towards the 1.4550-level. But all in all, the open and close underneath the pink zone was what we were looking for in the Trade Room. An opportunity to go short there on the hold of resistance and target back down here towards the orange-shaded area for our first initial target. If it reaches there in the next few minutes or today, we’ll look for opportunity to close some of the profit on the trade. If the market becomes significantly bearish and pushes back under the orange zone – 1.4515 or so -, we’ll look for continued profit as we look for it to continue to fall, maybe all the way back down towards the 1.4400-level and the blue-shaded area at the bottom of the chart. The risk at this point is no risk. We have locked in with profit at five pips of profit because the market moved above 40 pips of profit. So, we’re locked in. Can’t lose on the trade. If it rallies back to the pink zone, I’d be cautious about getting back into it with the bullish momentum we saw earlier on in the week, but this was a decent opportunity here just to take some short pips on the way back down. Moving over to the New Zealand Dollar versus the US Dollar [NZDUSD]. Here, on this currency pair, it’s been kind of a waiting period here for this currency pair. We were looking for going short into the pink-shaded area. We saw the market push underneath the historical supports here, right around the 0.6745-level. Pushed underneath it. Settled out underneath there as resistance, so we took a short and so far, since taking that, it hasn’t really done a lot. It’s just kind of drifted back up in towards the 0.6765 or so level. Coming very close to our stop loss, but we were able to stay with it. https://www.youtube.com/watch?v=ugkc5-3FCM0 Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.
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