Oct 27 – Nov 1 2019
How did these setups do?
NZDJPY – Pullback in play, drop to four-hour chart. Obvious range breakout and pullback for a price advance of 65 pips
GBPUSD – Not too much movement but again, the four-hour chart for daily setups. Simple trend line break entry for 65
GBPJPY – Virtually no price movement but the trend line break for 54 pips gives enough room for trade management
GBPCHF – Triangle formed. No trade
GBPCAD – Simple pullback trade (yes, they work) and on the four-hour chart, price breaks the downward trend line and the top of a price swing. 260 potential in this move
GBPAUD – No trade
EURUSD – Pullback trade on daily, entry on four hours on breakout pullback of the trend line. 70 potential
EURJPY – Pullback on the daily chart failed into a trading range (one of the ways a pullback fails). No trade.
CHFJPY – Not much of a move of 54 pips but the lesson is the entry. Four-hour chart, reverse head, and shoulders.
AUDJPY – Another simple pullback setup. Drop to four-hour chart, break of trend line plus break of swing high from October 23. 75 pips
Not a stellar week as some of the Forex pairs are still setting up in pullbacks. We can look to the coming week for resolution. Potential pips of 185 pips this week but October has been pretty good. Feel free to look back at the archives.