Dec 29 – Jan 3 2020
AUDJPY – We were looking for a pullback so the range was something of interest. Four-hour chart put in lower highs and break of lows gave up 160 pips
AUDUSD – Price drove to July 2019 highs. Another four hour chart gave us momentum down and then a range. The break of the range was 46 pips.
EURAUD – We did a price move upwards but no trade entry on the four hours or daily
GBPAUD – Another small move up but no entry
GBPNZD – We had a price structure I like to use and think of inverse head and shoulders. I look to enter as the right shoulder is forming and finding support where the left should form. Look on the four-hour chart and you can see it. 216 pips
NZDCHF – Price dropped for our short but I thought price has too many shadows (wicks) to allow me entry.
NZDJPY – I originally did not want a short on this pair until price broke resistance that was put in July 2019. Dropping to the four hours, still needed to find an entry. Lower high was put in when the break of 73.00 would occur. Short 117 pips potential.
NZDUSD – Reversal occurred after a strong momentum moves down. The small potential of 40 pips after the range broke down
Final setups for 2019!
There have been so many subscribers and I really appreciate you using this blog to learn to trade. I hope you have seen that a simple and repeatable approach works. Here’s to a great 2020.
Now last week……..
Holiday week and expected some lazy price movements. A few decent setups that triggered using our usual entry tactics. Nothing changes. 229 pip potential and even half of that can make a good week depending on position sizing. Of course, position size using good risk protocols to protect your account from a series of losing trades.
Dec 22 – Dec 27 2019
EURGBP – Price ranged and while there was some upside, there was no entry
EURJPY – Range breakout on four hour chart is the entry into the pullback. 112
GBPCAD – Price did not give us a setup
GBPCHF – Price did not give us a setup
GBPJPY – Price did not give us a setup
NZDCAD Four hour chart entry when price bases under resistance. Reversal candle long gets you in before break. 55 pips
NZDUSD – 62 pips upside but no entry before the break. Price broke resistance, paused, and break of highs equals entry.
I wasn’t expecting much last week with the upcoming holidays and I wasn’t disappointed. Only 90 pips were up for grabs with price moves that were not stunning.
This coming week, take caution as trading volumes will be lower and with thin volume, price moves can be extremely wild.