Aug 16 – Aug 21
AUDCAD – Upper trend line stayed in tact so no entry. However, if the market did not close last Friday (14th) up and instead had the close of Thursday , we could have used a four hour chart entry to get a bit of a pop.
BTCUSD – With the basing under resistance, that is bullish. Positioning inside the base (something we’ve talked about for years) has you in before the break. Price rose 4.5% before retracing. By positioning before the breakout when possible, you are in position to scale and adjust your stop.
CADJPY – One way pullbacks fail is into a range. That is what happened here.
EURCAD – Price kept heading lower
GBPAUD – Price continued to consolidate
GBPUSD – No early entry and no trade on the pullback as price continued back into the range
NZDCAD – Pullback trade worked well for 110 pips
NZDUSD – We got a pop higher off a triple bottom on the four hour chart as an entry into a daily chart pullback. 97 pips
Another week of low interest price moves. While we did have breakouts, there was no entry on the four hour time frame as price was not showing direction. 237 pips is still a decent week. Keep in mind that with Forex, each pip can be worth whatever your risk tolerance allows.