✍️ Weekly Trade Plan & Recap 25th Feb - 1st Mar
How we nailed the Euro long. Is that an expanding Megaphone on Gold? Plus analysis on the Dollar, Silver, Copper, S&P, WTI Oil, Bitcoin and INJ/USDT.
Last Week
Last week we pulled off a beautiful trade on the EUR/USD with both targets being hit.
There were three premises behind this trade:
We were looking at a very bullish price pattern.
There was a large liquidity gap waiting to be filled.
US PPI news on Friday spiked into Demand and reversed. After US CPI sent the Dollar flying, it was very telling that PPI didn’t continue the move.
Below is the original 1 hour chart that I published in last week’s newsletter and my trade call in the Substack chat. Notice the sharp circled rejection on PPI news into Demand. This showed us the Euro was unwilling to move lower (or the Dollar higher) on price inflation for goods and services.
The previous week’s high acted as a natural target with Supply at the top of the liquidity gap giving us a second target.
And here’s how the trade played out, with an additional setup and comments that were given to members…
On the Cryptos, I published two triangle setups on APE/USDT and APT/USDT.
The key here is to understand preceding price action and structure and get positioned before the breakout. This will allow you to take on minimal risk and not FOMO in to the market if it rockets.
This is a daily chart of the APE/USDT setup…
And below is a 4 hour view showing where we scaled 50% profit at the triangle high.
It’s always a good idea to take some profit at a prior high and especially after a fast pump.
With the stoploss set to breakeven on the remainder, we can afford to sit back now and see if the longer term target gets hit.
The next section is for members only. We’ll cover this week’s analysis for the Dollar Index, EUR/USD, Gold, Silver, Copper, S&P 500, WTI Oil, Bitcoin and INJUSDT. 👇🏼👇🏼👇🏼