Why the Weekly Trade Plan at ForexDorm will make you a Profitable Trader

Hello Traders,

This weeks write up will give you just a hint of why you should stay glued and anticipate the Weekly Trade Plan every week.

i implore you to patiently go through this post and see why the Weekly Trade Plan is an indispensable tool for a profitable trading journey.

Trading the forex market is not all about placing a trade and waiting for profits. It is about eliminating surprises by understanding market movements and then making profound decisions.

S&P 500 – Weekly Trade Plan for April 27th  – May 1st 

Looking back at the S&P 500 analysis on April 28, 2020, we can see that price has clearly followed our sentiments and moved according to our anticipations.

After 4 weeks we can see that price have been trading in the range as analyzed in our plan three weeks ago. This further emphasizes the importance of staying glued to our Weekly Trade Plans as our understanding of market movement is unrivaled.

S&P 500 – May 18th

Trade Idea – Our bias is bullish, we will be waiting on price action towards the bottom of the range and the 50.0 Fibonacci level in order  to go into a long position.

Also looking back at the Weekly Trade Plan for May 11th – 15th, 2020 we can see that price have diligently moved in line with our anticipations.

GOLD TRADE PLAN MAY 11TH – 15TH

GOLD NOW – May 18th

AUDJPY ON May 11th – 15th Trade Plan

AUDJPY NOW (May 18th-22nd) Trade Plan

These few scenarios are meant to give you some added confidence that by being an ardent follower of our Weekly Trade Plan a more profitable trading journey is at the finger tips.

Have a great week ahead!!

Feel free to share and drop comments. If you will like an analysis like this for a currency pair you are looking at, kindly drop a message in the free trading room.

Please note that the Weekly Trade Plan is meant to make us prepared for the week ahead. Market analysis is as accurate as the close of previous day/week. Outlooks and trade action plan can very much change as a result of new market information.

Do not forget to sign up for our free trading room to stay up to date with daily chart analysis

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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubt.

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