Feb 24 – Feb 29 – 2019
How did these charts do?
AUDNZD – Held the line in the pullback so no trade here
EURNZD – Price stalled on the weeks open and reversed upside
GBPCHF – The breakout trade was in play and the question is always how to enter. As I state (many times in fact), the four hour chart can give you trade entries often times using the same pattern you are looking at on the daily. In this case, the four hour chart had consolidation near the top of the range. Playing a breakout of the range inside the range lead to 235 pips upside
GBPJPY – Breakout play again and the four hour chart again for the entry. Simple break of trendline (not an edge..the pattern and context was edge) for entry lead to potential of 345 pips
GBPUSD – Simple works. 243 pips upside using the same techniques as the other pound crosses
NZDJPY – We wanted to see some upside here but we got a pullback inside the range instead. Flipped to the weekly chart and it appears a bear flag is at play after we had the huge momentum push downside.
Still waiting for the types of moves that add hundreds of pips to your weekly count.
Patience is a virtue and the 328 pips the were the potential for the past week will have to do especially due to banks closed on the Monday
Watch the overlap of the GBP in some of our setups for this week for risk tolerance.