It is Sunday again, so I’m taking time to analyse the potential setups on forex pairs for the upcoming week in this forex outlook for October 16. Last week, I actually had a couple of losses! I shorted AUDNZD but the market decided to move higher. It’s important to know that trading is not just about winning trades, as too many traders make it appear. Every trade can turn out to be a win or a loss. While I don’t know up front how the trade will end, I do know that over a larger number of trades, I always end up with a net profit so I’m not worried about losses. It’s part of the game 🙂
I’m still staying away from GBP pairs since the flash crash (or however you want to call it) 2 weeks ago. I believe the market is still looking for direction in GBP pairs and will stay out of them for as long as this is the case. There are plenty of other pairs we can turn to anyway! This week, I’m keeping an eye on the following pairs:
Follow my published ideas on TradingView.