Aug 9 – Aug 14
UPDATED AUG 16
AUDNZD – Price broke above support with a pullback on the four hour chart. 79 pip upside.
BTCUSD – Price based at highs with no entry
CHFJPY – Breakout of 4 hour trendline as entry into higher time frame pullback. 158 upside pips
EURUSD – Price ranged
GBPJPY – Tough setup as price had no follow through on a breakout. There was not entry on the four hour chart.
GBPNZD – Another tough setup with no entry although there was upside on the break. You need an entry method and sadly, there was no way to enter using the same criteria we have for years.
USDCHF – No trade
Strange times in the Forex world where the moves are not setting up and overall price movement is not the best place to put on risk.
114 pips in the last week setups although there were only 3. The weeks of having 500-1000 pips will come. Be patient
Aug 2 – Aug 7
Results
AUDNZD – What was nice about this setup was the entry being a spring at support of that small range. 114 pips upside off the test.
NZDCHF – Support failed. No entry
EURGBP – Price went higher but no entry
311 pips last week but keep in mind that the updates are the moves in pips and not where everyone would exit. Trades such as the EURUSD were still in the same move that triggered during the from July 19 update . Same with the Bitcoin run from the July 19 updates. Every trader will have their own way of exiting.
Some will use profit targets while others will trail their stops. Either way is fine although scaling out at certain points and trailing the rest is my preferred way. Keeps the equity curve a little smoother.
