Week of: 03/14/22 – 03/18/22
The World Wealth Gauge is showing us some interesting readings this week with all the developments that are taking place around the world and the markets.
And seeing that my question is: Have you ever heard of the statement ‘Buy the rumor and Sell the news’ ?
I think we’re exactly in this kind of an environment with the Fed raising interest rates today. And that’s the reason I’m going to continue to love the AUDJPY currency pair this time.
I’ve been talking about this trade for a while now (you can check it out here).
Here’s the drill…
I expect the price for this pair to move down. So, I’m looking to sell at 82.80, 84.50, and 85.50 levels. Our average price, if we sell at these three levels, will be 84.27.
I’m widening out my stop loss level on this one to 89.15 (from 86.30 earlier).
And my profit target is set at the same 74.40 level.
My average risk with the new stop loss will be 488 PIPS, while the average reward remains the same at around 987 PIPS! That’s still a pretty risk-reward ratio if you ask me.
I’m in this trade and plan to stick with it based on everything that’s panning out in the markets currently.
Check out this week’s top picks video for strategy details.
I’m also planning to talk about the USDJPY currency pair in next week’s video. So, stay tuned to check that out!
And for more tips and picks, you can join me in my Money Flow Trading Room. It’s where I talk about market and various trade strategies every week.