The meeting focused on market analysis for various currency pairs, precious metals, and the yen basket, with discussions on entry points, trends, and potential market movements. The team analyzed specific currency pairs like EUR/USD, GBP/USD, GBP/JPY, and EUR/JPY, providing insights on bullish trends and advising caution in trading decisions. The session concluded with a recap of the morning’s analysis, encouragement for collaborative learning, and an announcement for the next meeting.
Next steps
- Chijindu Atusiuba to monitor Euro USD for potential retracement before continuing to sell.
- Chijindu to watch GBP USD for price reaching the analyzed entry level.
- Chijindu to share markup for GBP USD trade on the general group once price reaches the entry level.
- LEKAN to continue monitoring the precious metal for a potential pullback to the identified level for a better entry point.
- Chijindu to look for buying opportunities on GBP JPY around the identified level.
- Chijindu to wait for EUR JPY to potentially reach the identified value gap before taking a trade to the upside.
- Chijindu to monitor USD JPY for a possible retracement to the identified order block before considering a buy trade.
- Chijindu to prepare for the next market analysis session at 8:30 AM the following day.
Summary
Currency Market Analysis and Entries
Chijindu discussed market analysis for several currency pairs, with the dollar index showing expected buying behavior and consolidation. For EUR/USD, they noted a missed entry opportunity as the price sold off without reaching the desired level, though they still expect a potential retracement before further selling. GBP/USD is approaching a key entry level, and they plan to share detailed markup information in the general group. The team will take a short break before continuing with further analysis.
Precious Metals and Yen Analysis
Lekan led a trading analysis session, focusing on precious metals and the yen basket. For precious metals, he discussed entry points and potential market structure shifts, suggesting a cautious approach with a wider stop-loss of around 100 pips. For the yen basket, Lekan confirmed their bearish outlook and expected price to clear daily levels. The session was cut short due to technical issues, with VFT apologizing and requesting to continue the analysis.
GBP/JPY and EUR/JPY Trading Insights
The discussion focused on currency pair movements, particularly GBP/JPY and EUR/JPY, with VFT analyzing the bullish trends and advising against quick sales. VFT recommended waiting for specific price levels before entering trades, noting that movements have been fast and powerful. For USD/JPY, VFT suggested watching for retracements and potential targets, while also discussing the possibility of a sell before a continued buying trend. The overall expectation was for continued buying in these currency pairs, with VFT advising traders to wait for favorable entry points.
Market Analysis and Trading Insights
The meeting focused on a market analysis session, with VFT providing a brief recap of the morning’s analysis and encouraging participants to share any opposing views for collaborative learning. VFT announced the next meeting for the following day at 8:30 AM and expressed gratitude for the platform’s educational value, comparing it to a boot camp that offers valuable insights into forex trading.
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