Week of: 02/21/22 – 02/25/22
The World Wealth Gauge is continuing to show us bearish readings this week. The indicators are flashing red signals across the board and that makes sense given the massive sell-off we’re seeing lately.
With the above readings, the technical factors indicate that we are going to be due for what’s called a ‘risk-off’ move. Meaning, there’s still more selling left for the markets.
And keeping the above things in mind, my favorite currency pair to trade this week is the AUDJPY.
I’m expecting the price for this pair to move down. So, I’m looking to sell at three levels – 82.80, 84.50, and 85.50. 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 potential reward comes to around 987 PIPS. That’s a pretty risk-reward ratio we’re looking at with this trade!
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.