Feb 2 – Feb 7 2020
How did these do?
AUDNZD – Price rallied throughout the week but no shorts available
AUDUSD – Perferct pullback to our zone and 70 pip short
EURAUD – We didn’t get the final push to highs so four hour chart needed for setup. Price ranged, failure test of lows with zero followthrough back upside. Basing on support of range. Trade break with 235 pip drop to lows
EURCHF – Break upside and small move of 30 pips
EURJPY – Pullback to the zone noted on chart for short consideration. Failure test of highs of range on four hour. 56 pips to lows
GBPAUD – Same as EURAUD. You can’t buy at highs and playing a retrace can work if setup happens. Usually look for failure tests but other patterns are fine. Context needed! This entry is a three bar reversal (second bar wipes out high of first bar. Third bar closes below the close of first bar) and price rocked to 484 pips downside
GBPNZD – There was a failure test but minimal at best. Using 3 bar reversal gives 348 downside
We hadn’t posted a Bitcoin chart in a while but this past week was a simple trade. Pullback which led to almost a 10% jump in price. As for Forex, 282 potential pips and the markets across all instruments have been a chore to trade.
Lots going on in the world to consider as you set up to make your trades. Trading right now, more than ever, requires strict adherence to risk controls. Some may consider trading a little less size at the moment.
