Nov 17 – Nov 22 2019
AUDNZD – Price ranged for the majority of the week in a tight base. Breakout play to enter a flag was 30 pips
AUDUSD – Failure test of highs off the four hour gave the expected short pop for 30.
EURAUD – Market continued to crawl upside but there was no entry on the four hour to get involved. Needed a deeper pullback on the 19th
EURCHF – Looking short but the price moved up although not with much strength
EURUSD – Beautiful failure test of range on the four hour for the entry. 60 pips
GBPAUD – Range
GBPCHF – Range
NZDCAD – Could have taken the test of lows on the four hour for the long entry. Waited until trend line break – more conservative. 105
USDCAD – 91 pips on a simple pullback trade
Another week showing that simple approaches work. 450 pips were up for grabs using pullbacks and ranges as setups. Using lower time frames gives us trend line breaks and range breakout as entries. AUD was the driver this week as GBP did nothing worth mentioning. The consolidations we find ourselves in will eventually break. Will you be ready?
I am not going to post all the GBP charts but if interested, keep those crosses on your radar. The same type of market condition for most.