Week of: 07/04/22 – 07/08/22
The World Wealth Gauge is showing us some crazy readings this time and with that I’m going to continue with my open trades, which we’ve been following during the past couple of weeks.
Let’s talk about one of these favorite trades – the NZDCAD currency pair.
Here’s what I mentioned about our updated trade on it last week…
What’s next? Well, I still believe we are heading up to our target level of 0.8600.
With that in mind, my updated trade NZDCAD is where I’m looking to BUY around 0.7900 levels with a target of 0.8600 and a stop set at 0.7520 level.
Things haven’t changed much since and I’m still bullish on this trade and willing to track it in the coming weeks. This is one of the trades that we’ll be monitoring week after week and I’m hopeful that patience will pay us off big time.
And we’re seeing patience reward us now in our other favorite trade on AUDJPY!
We’ve been waiting for the price of AUDJPY to break down since a long time – and thankfully it did start moving south this week.
Our trade on this pair was to short it at different levels and we sold it at various ranges between 90.06 and 100 levels. (You can check out the trade setup details here)
Well, as things stand today, we are getting to a breakeven point in our trades. And as we move ahead, I believe our trades on the AUDJPY will pay us handsome dividends as the pair goes down to our target of 76.50 levels. That’s +1,500 PIPS worth of potential profits and I’m looking forward to it.
My view on the above trades begs a question though: Why do I believe them performing well in the coming days?
Well, my readings tell me the stock market is due for huge corrections as we move ahead and I see the S&P 500 going down to 2400 levels!
I’ll take you through all the details on my above bearish reading in next week’s Wealth Gauge video. But until then, we’re all set to beat this falling market with our trades on the AUDJPY and NZDCAD currency pairs.
Check out this week’s video for all the details.
A big thanks to all of you for following Tysons Trends!
For more tips and picks, you can join me in my Money Flow Trading Room. It’s where I talk about market and trade strategies every week.