Week of: 02/28/22 – 03/04/22
The World Wealth Gauge is giving us some interesting readings this week with everything that’s going around the world. In these times, volatility is the name of the game.
So, after reading all the information from the World Wealth Gauge signals, I’m being cautious in the markets. And keeping that in mind, my favorite currency pair to trade this week is the AUDJPY.
We talked about this trade last week (you can check it out here).
I’m expecting 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.
My potential profit target here is at 74.40, with a stop set at 86.30 level.
My average risk with this trade will be 204 PIPS, while the average reward comes to around 987 PIPS. That’s a pretty risk-reward ratio we’re looking at!
I’m in this trade and plan to stick with it based on all the developments panning out in the markets.
I also talk about why I love this trade and how there’s an awesome pattern playing out for this currency pair.
Check out this week’s top picks video for strategy details.
And for more tips and picks, you can join me in my Money Flow Trading Room. It’s where I talk about this stuff every week.