Sep 15 – Sept 20 2019
How did these play out?
AUDCHF – The four hour chart continued in a smaller range as price kept testing support and resistance. The small poke above resistance and break of low on the 18th sets up an entry before the breakout. Price dropped 94 pips from the location.
AUDJPY – Looking short and the four hour chart started to make lower highs into support which is bearish. Breakdown under the low of the 17th had price dump downside 120.
AUDUSD – We knew we wanted price to pull back and on the four hour chart, you can see where momentum stepped in. For pullbacks, that’s not what we want to see but it was an impulse push downside. Trade the pullback short 93 downside. I’ve always said you want to get into a breakout…before the breakout.
CADCHF – As written on the setup chart, the momentum move is a concern for pullback trades. It could have been an exaustion move but the four hour chart didn’t see that. No trade.
NZDCAD – Great break of lows from a bear flag and pullback to trend line for a simple trade with 119 pips potential
USDJPY – Mulitple failure tests without breaks of their lows. The late in the week test had the same entry as the others would have if they broke lows. 57 downside.
To be honest, I did not expect too much this week. When you have one great week in terms of price moves, the next week is a little muted. 270 pips were in play and these weren’t complex setups and triggers.
Simple works in trading.
On another note, strong pushes in GBP crosses but being Brexit driven and the extent of those thrusts, they are not really up for consideration.
