Hello traders,
The time has come for a new Weekly Trading Plan. We are still following on the development on the USD/CAD trading plan from last week, but it seems that it will take more time to unfold.
Today I want to change things a little bit by applying a little bit more riskier approach that can yield us some good profits. You will be able to learn how to use counter-trend trading in your advantage and what mistakes can be made.
Let me present you my counter-trend trading opportunity on the EUR/USD currency pair. You can check the video on Youtube with the full plan and below I am posting the economic events ahead of us for this week as well as the respective zones in numbers.
H4 Zone for Correction (Buy Zone): 1.1920 to 1.2070
Support Area: 1.1915 to 1.1850
H4 Correction Stoppage Area: 1.2075 to 1.2135
Economic Overview:
We have a pretty empty week on the economic calendar this time, but there are still a few reports worth mentioning.
Tuesday - 8th of May:
07:15 GMT (10:15 Bulgarian Time) - The new FED chairman Powell will speak at an SNB/IMF Event in Zurich
Always good to listen carefully to what he has to say as it might give you indications on the overall US economy.
Thursday - 10th of May
12:30 GMT (15:30 Bulgarian Time) - USD Consumer Price Index
Expected reading is 2.5% from a 2.4% previous. If there are no surprises I don’t expect this report to have a huge impact on the market or cause any strong volatility, but it is good to keep it in mind.
12:30 GMT (15:30 Bulgarian Time) - USD Consumer Price Index Ex Food and Energy
Another scheduled reports which reading is expected to come out close to the previous. Again I don’t expect huge impact or volatility unless there are any surprises.
Friday - 11th of May
14:00 GMT (17:00 Bulgarian Time) - USD U. Of Mich. Sentiment
Previous reading was 98.8 and the forecasted is 98.4. Here is a place where you can expect a different number from the forecasted, but I don’t expect this report to change the overall market condition. We might see a short uprising in volatility so keep it in mind.
This is from me for this week! I hope you manage to make some profits out of this plan.
I wish everyone an amazing and most importantly profitable week! :)
The time has come for a new Weekly Trading Plan. We are still following on the development on the USD/CAD trading plan from last week, but it seems that it will take more time to unfold.
Today I want to change things a little bit by applying a little bit more riskier approach that can yield us some good profits. You will be able to learn how to use counter-trend trading in your advantage and what mistakes can be made.
Let me present you my counter-trend trading opportunity on the EUR/USD currency pair. You can check the video on Youtube with the full plan and below I am posting the economic events ahead of us for this week as well as the respective zones in numbers.
H4 Zone for Correction (Buy Zone): 1.1920 to 1.2070
Support Area: 1.1915 to 1.1850
H4 Correction Stoppage Area: 1.2075 to 1.2135
Economic Overview:
We have a pretty empty week on the economic calendar this time, but there are still a few reports worth mentioning.
Tuesday - 8th of May:
07:15 GMT (10:15 Bulgarian Time) - The new FED chairman Powell will speak at an SNB/IMF Event in Zurich
Always good to listen carefully to what he has to say as it might give you indications on the overall US economy.
Thursday - 10th of May
12:30 GMT (15:30 Bulgarian Time) - USD Consumer Price Index
Expected reading is 2.5% from a 2.4% previous. If there are no surprises I don’t expect this report to have a huge impact on the market or cause any strong volatility, but it is good to keep it in mind.
12:30 GMT (15:30 Bulgarian Time) - USD Consumer Price Index Ex Food and Energy
Another scheduled reports which reading is expected to come out close to the previous. Again I don’t expect huge impact or volatility unless there are any surprises.
Friday - 11th of May
14:00 GMT (17:00 Bulgarian Time) - USD U. Of Mich. Sentiment
Previous reading was 98.8 and the forecasted is 98.4. Here is a place where you can expect a different number from the forecasted, but I don’t expect this report to change the overall market condition. We might see a short uprising in volatility so keep it in mind.
This is from me for this week! I hope you manage to make some profits out of this plan.
I wish everyone an amazing and most importantly profitable week! :)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.