May 31 – June 5
How did these trades do?
AUDJPY – This was an amazing price move that was an easy entry. 480 upside pips and more depending on your entry.
AUDNZD – It was a pullback but the only entry took place when price consolidated on the four hour chart for 80 pips. If you trade the pure trendline break on the four hour chart, you got about double those pips
BTCUSD – The coiling continued in Bitcoin.
CADJPY – The basing under resistance, as commented many times over the years, is generally bullish. It certainly was here with over 320 pips potential to the upside.
EURCHF – Was initially looking for a reversal but price started to base going into the week. Again, price basing at resistance is an indicator longs. Various entry techniques but overall, a 190 pip upside run.
EURGBP – Price was staying in a trading range
EURUSD – Was looking for shorts but again, basing at resistance. The entry is after the momentum breakout we see basing at the highs of the momentum move. That is bullish. A 190 pip run.
NZDUSD – 288 upside pips again showing that where price bases can point towards a direction. With basing (range), you can enter any place in the range or look for tests of highs or lows.
USDCAD – Canadian dollar got some more strength this week gaining 280 pips on the USD
Handful of setups last week that still managed just over 470 pips. Good lesson on using lower time frame price patterns to enter higher time frame setups on the EJ.
Friday has the U.S. jobs numbers and due to Covid, expectations are another horrible number.