Nov 15– Nov 20 2020
How did these do?
AUDCHF – Never got a trigger to ride the little upmove.
AUDJPY – Price was right into our trading zone. 32 upside off reversal candle.
AUDNZD – Barely got a pullback that we could short
AUDUSD – Price broke upside and entry off 4 hour trend line break. Barely 40 pips upside.
EURCHF – Price just ranged
EURNZD – Not pullback to short
GBPCHF – Could not get the original bounce from our level. Price gave a pullback and a simple break of highs gave 60 pips
GBPJPY – Gave up more downside for a long trade but far too much of range above where price held.
GBPUSD – While a deeper pullback would have been nice, price was at our first level. Missed the first move up off of lows, no entry. Price pulled back and just a break of highs for entry. 78 upside.
NZDCAD – Price gave conflicting price action at highs. No pullback. No trade.
NZDCHF – No entry.
NZDUSD – No trade.
Potential of 377 pips this past week. AUDCHF had a nice run but when you have objective entry triggers, there will be times you miss a trade. EURJPY was a good example of a rules based approach. The pullback was too strong to consider it a simple pullback trade. Seeing price spike through resistance and setup up a reversal candlestick gives us a failure test setup.
The lesson? Ensure you have your rules laid out before you trade.