Jan 5 – Jan 10
How did we do?
AUDJPY – Pullback and strong looking reversal candlestick. About 120 pips from the four hour chart entry.
AUDUSD – Small bump of 20 pips off of lows on the four hour chart
CADJPY – Price continued to range
CHFJPY – Basing came after momentum upside thrust. Break out of highs for 70 pips potential
EURGPBP – Price range
EURNZD – Short lived pop down off a upthrust entry from four hour chart with 80 pips
GBPCHF – Price ranged
GBPJPY – Price ranged
GBPNZD – Thought of a short but nothing presented as entry
NZDCHF – Pullback occurred but no break of highs for entry
NZDUSD – Great pullback but no entry
USDJPY – Price came to highs at end of week.
The first week of 2020 is in the books with 579 pips potential using simple price structures, simple price patterns, and price action.
The price patterns we look for:
– flags (pullbacks)
– ranges (basing)
– failed tests of highs/lows
We look for price setups on the daily and will often use the four-hour charts for entries.
Entries are generally the same patterns but on a lower time frame.