Nov 8 – Nov 13 2020
AUDCAD – We didn’t get a deeper pullback but got one to the previous resistance turned to potential support on Monday. Spike up on Monday forced a higher entry price on Tuesday at 9485. 77 pips upside.
AUDCHF – Nice run up in price but there was no entry for us.
AUDUSD – No trade
EURJPY – We got a pullback in price but it was a huge momentum move so the pullback and short trade was off the table. However, price spiked above the high and was rejected which sets us up for a failure test short trade. Using the 4 hour chart, sell stop order below the reversal. Price dropped 75.
EURUSD – We were looking for a failure test of highs. Got that and on the four hour, a breakout to the downside of a range is the entry. 105 pips
GBPAUD – We got our pullback right into our zone. Entry is trend line break on the four hour chart for 120.
320 pips this week with a good run in Bitcoin for about 16%.
A lot of currency pairs are still whipsawing back and forth and not worth looking at for daily players.
The smoke of the U.S. election is still in the air and it’d be wise to only take the clear trades this coming week.