Week of: 05/09/22 – 05/13/22
The World Wealth Gauge is continuing to give us some very bearish signals this week and the trade I’ve been talking for a while now is starting to pay us some dividends.
It’s our favorite AUDJPY pair, which we have been selling and it is finally coming down from its all-time highs. (You can check the trade setup here)
On a net-net basis, we are up about 295 PIPS in this trade. That’s what patience and following a proven strategy can do for your investment portfolio.
I’m still willing to sell the AUDJPY and will continue to monitor our trade in the coming weeks.
I also have an extra trade setup for you today. It’s on the NZDCAD currency pair which has been coming down towards its Covid-level lows. And I think there can be a bounce back from here on.
Another reason why I like this currency pair is because it’s a Risk-On currency pair, which performs better in an environment we’re currently in.
My game plan here is pretty simple – I’m looking to buy on a daily close above 0.8243 or also buy it at 0.8100 levels.
My target for this trade is at 0.8600 levels with a stop loss set at 0.8000 level.
Our potential upside on this trade come to around 425 PIPS – quite impressive in my view.
Check out this week’s video for a detailed strategy on the above trades.
And for more tips and picks, you can join me in my Money Flow Trading Room. It’s where I talk about market news and trade strategies every week.