Like every week, there are some great potential opportunities setting up…
However, due to the unprecedented divisiveness in the US Election, we’ve chosen to not do a start-of-week market analysis this week because whatever the technical charts are indicating may have little significance compared to the fundamentals of this event.
However, we do want to share today that many traders would agree that;
* If Trump wins, it will be a huge upset (to the market) since it likes “certainty” and Trump has displayed an erratic behavior and is light on policy. Therefore, you can probably expect a short-term drop in the US$ (think Brexit). We may also see a rush to safe havens such as Gold or the Yen, which could both rally.
–> That is; Buy Gold, Sell Yen Crosses, Sell US$.
* If Clinton wins, it will provide the market with more certainty and we could see the opposite happen.
–> That is; Buy US$ crosses and sell weaker currencies that are pitted against the US$, Sell Gold.
After this election is over, we’re aiming to upload a new video later in the week with an analysis and how to trade the markets moving forward.
The last couple of weeks have seen some great wins from trades that created some great pips. Here’s a quick update on the week’s highlights;
* EURUSD: Entered a Buy at 1.0920 and hit Target 2 at 1.1070 for 150 Pips
* EURAUD: Entered a Buy at 1.4300 and hit Target 2 at 1.4550 for 250 pips
* GBPUSD: Entered a Buy at 1.2250 and hit Target 1 at 1.2420 for 170 Pips
* GBPAUD: Entered a Buy at 1.6115 and hit Target 1 at 1.6240 for 125 Pips
* GBPJPY: Entered a Buy at 128.60 and hit Target 1 at 130.00 for 140 Pips
That’s 835 pips in confirmed targets being hit!
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Additionally, we had to 2 great trades with the GBPAUD and the GBPNZD pairs that went into profit for about 150 pips each but came short of their initial targets. Congratulations if you locked in profits on these.
Finally, we are currently sitting on 2 profitable trades with the AUDJPY & the USDJPY that we will probably lock in profits as the election comes closer.
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The Traders Elite Team
PS: Finish 2016 strong with some great consistent trades every week