April 21 – April 26 2019
How did these do?
AUDJPY – Special shout out to Wan Liu who rightly monitored the four hour chart as I suggest on support holding or failing trades. The fact that this pair based on support showed a higher probability of breaking. This is something I write in many of the updates and in comment responses. Short for 161 pips
AUDNZD – 65 pips downside on a low momentum pullback from a high momentum move of the four hour chart entry.
CADCHF – Price did make a quick upside pop and as expected, the down move was a higher probability move for 68 pips
USDCAD – 110 pip upside jump from the pattern. The candle on April 17 showed the probability was an upside break. Obvious resistance level at 1.3400 was the zone for a breakout entry to get into a potential triangle pattern break.
USDJPY – Basing continued
BTCUSD – Basing just under resistance points to a break up. Position in the break for a $311 upside pop before pulling back.
DASHUSD – Long wanted. No trigger.
LTCUSD – This was a tough one. Volatility compression broke south. No long.
The FX market for daily setups has been quite the challenge with 192 pips potential on only four setups. While it is simple to take the setups and trade changes to the setup on the lower time frames such as the one hour, that becomes an active trading style.
You must know your time frame when trading. Flipping around is never advised. We use the daily for the setups and the four hours at times for entry. That plan has amassed literally thousands upon thousands of pips. Long time visitors have seen it first hand.
Stay the course and look for the better moves when they begin.