Nov 10 – Nov 15 2019
AUDCAD – Price broke downside and price was bought back up the next day but did not meet entry criteria. Needed close back over previous support
AUDUSD – The pullback, for the most part, fits what we want to see in a pullback. Lazy price action. On Thursday, we had momentum step into the move which can cancel pullback trades. The issue is this appeared to be a stop run at previous support. Zoom into our four hours, we see rejection off lows, then a pullback. That is the entry. 23 pips and you could have gone to a lower time frame, one hour, 15 minutes, but that becomes chasing. Stick to the rules.
CADCHF – Simple pullback trade using a four-hour trend line break for entry trigger. 65 pips
EURJPY – Was leaning bullish but price broke downside. Note strong recovery on Friday which shows that bullish view was a good one. Just no entry.
GBPAUD – Very happy with how this played out. Looking long from a pullback. Used four trend line break PLUS break of swing high as an entry for 300 pips
GBPCHF – Consolidation
GBPJPY – Consolidation
GBPNZD – Consolidation
GBPUSD – Consolidation
NZDUSD – Price could not hold lows and simple range breakout on a four-hour chart leads to 70 upside pips.
Not much movement in our pairs last week with 124 pips potential. The GBP crosses just drifted and the other pair mostly ranged. I look at that as a potential opportunity because it eventually will break. It depends on when and if there was a setup to get involved.