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Market Recap 22nd to 26th February 2021

Hey there traders!

We have had another great week at Trade and Train. How was yours? It’s the last trading day of the month so make sure you have a look at the monthly charts this weekend as a guide to what may happen in March 2021.

Dollar Index

The Dollar Index monthly candle is currently a Doji means there is equilibrium between the buyers and the sellers at present. Something to notice though is that we have a higher low than last month and a higher high. Does this mean that we could see price push into $92 next month?

Looking more closely at the 8 hour chart above, price is within a small channel which is itself within a bigger channel. If we see price break out of the smaller channel to the upside then this could pave the way to $92. Time will tell traders. Don’t assume anything, let price dictate which direction you trade.

AUD/USD

We took a lovely counter trade short on Aussie this week which was a chart of interest in our watchlist list on Wednesday. Price made a false break of the ascending channel, sellers came in and price printed an H1 Engulfing seller candle which was our queue to look for sells.

This was the result…

 

USD/JPY

Talking about the watchlist, USD/JPY was a chart on there too this week as price is moving within an ascending channel. The below is what we sent out.

And this is what happened…

So some great results all in all for the team and everyone involved. If you would like details on how you could receive our watchlist then drop us an email at nolan@tradeandtrain.com

Ok guys, let the weekend begin!

T & T

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Malcolm
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