Week of: 01/10/22 – 01/14/22
The World Wealth Gauge is showing us bearish readings this week with institutional money flowing aggressively from small caps to midcaps. That means institutions are looking for safety in the market. The fear gauge is also showing a risk off-signal, which means the volatility is spiking up.
And with that in mind, I am going to revisit the GBPNZD trade we saw last week.
I talked about selling it between 2.0050 to 2.0265 levels, and that’s exactly what has happened. The price rallied up and we started basing around 2.0050 level. I’m still looking to sell at these levels and think we have over 500+ pips of potential opportunity to the downside.
My target remains the same at 1.9500 levels with a stop set at 2.0270.
A big congrats to all of you who are in this trade! It’s almost up about 50 pips from last week, which is a good $500 on a standard lot investment.
Check out this week’s top picks video for all the strategy details of this trade.
And for more tips and picks, you can join me in my Money Flow Trading Room. It’s where I talk about the markets and such strategies every week.
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