June 7 – June 12
How did these setups do?
AUDCAD – Price based at highs.
AUDCHF – Riding the reversal. Price broke down with momentum on the four hour chart. Trade the pullback for 158 pips to the downside.
AUDJPY – Same setup. Price broke down with momentum, trade the pullback, reversal candlestick and 234 pips to the downside.
AUDNZD – Support did not hold and simple breakout pullback trade entry. You can use breaks of trend lines as trade entries. 50 pips.
AUDUSD – Great technical trade. Price broke downside with momentum, pulled back up with an obvious reversal after failing price probe higher. 180 pips downside drop.
CADJPY – Great short trade for 270 pips downside. Trend line break entry on four hour chart after momentum move and basing at the lows of that candlestick.
CHFJPY – Take note of the price action on the four hour chart. Looking short. Momentum to the downside and waiting for pullback. Price pulls back and fails into a trading range. This is one way pullbacks fail. The other is momentum in the pullback direction.
EURCHF – Price broke downside with momentum. Put in the pullback for 120 pip drop.
EURJPY – Setup chart noted to stay on four hour chart for the breakdown. 300 pip downside at a trend line break entry.
EURUSD – Remeber the setup chart was looking short. This entry is off a failed upthrust at highs. Think of the 2B reversal. 120 pips
GBPJPY – 360 pip downside from trend line break.
GBPUSD – Was waiting for pullback to consider a trade.
NZDCHF – The push to the top of the channel did not happen. Again, four hour chart, momentum to the downside. Trade the pullback or basing. 140 pips.
NZDJPY – As mentioned, downside was clear. 165 pips downside after, again, another push down and consolidation.
NZDUSD – 110 pips downside from an extended market.
Great week last week with over 1800 pips up for grabs. This week we have some extended markets that may give us reversal trades depending on how price evolves.
USD pairs may see USD step in again due to some decent job numbers last Friday that were better than expected. Check in the comments below for one of my readers who reported a very good beginning of the week.