It’s been a good week for us in the War Room, there have been some nice signals with have matured into good profits, some even producing 6x return on trade risk. The AUD being our main money maker these last couple of trading weeks.
At the close of trading this week there was a powerful price action event on the USDCAD major. The market tested the top of a longer term range and terminated, then rejected the move back into lower prices, creating a large bearish rejection candle at the end of the New York close on Friday.
This is a strong cue that we can anticipate further downward prices in the next week or two as the market is demonstrating that the range structure is holding here. We are looking for retracement entries here to be able to grab a nice entry price and tighten stops.