Week of: 06/27/22 – 07/01/22
The World Wealth Gauge is showing us a Normal Trend, but I think we’re still in the Risk Off zone. We’ve got bond rates going up and inflation concerns rising across the globe, which are going to get worse with China coming out of the lockdown.
So, I’m willing to continue to ‘Sell the Strength’ in this market.
Which brings me to one of our favorite trades we’ve been talking about – the NZDCAD currency pair.
We saw over +290 PIPS in this pair from our original trade, however, our updated trade on this pair didn’t work out as planned. We saw some losses and as things stand today, we’re up a net +100 PIPS.
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.
The reason I’m so bullish about this trade is because we’ve got a nice pattern playing out for this currency pair.
Also worth noting is that the currency pair is currently sitting at the same levels as we initially started talking about it, which was around 0.8127. But the reason we’ve managed to book profits with NZDCAD is how we managed the trade in the last few months. And that’s what I plan to do ahead – target potential profits with our strategies from the resulting volatility.
We have around +700 PIPS worth of profit potential from today’s updated trade on the NZDCAD.
My other favorite trade we’ve been talking about is the AUDJPY pair, which I believe has a tremendous amount of profit potential.
I’m still willing to sell it! Here’s a quick look at the two trade setups we have on this currency pair…
- If you’re not in this trade, a conservative option is to sell on a break below 93.05. The target here can be at 76.50 with a stop set at 102.85.
- And for ones who’ve been following this trade, the original trade setup was to sell at 90.06, 94.50, 97.25, and 100 levels. Our average price, if we did sell at these four levels, comes to 95.45. My profit target on this one is at 76.50
The above trades hold a combined +2,500 PIPS worth of potential profits and I’m looking forward to managing them in the coming months.
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.