Jan 13 – 18 – 2019
How did these perform?
AUDJPY – Price continued a lazy move upwards
AUDUSD – Price began to rollover on the daily chart but was not a move to trade
CHFJPY – Price consolidated
EURJPY – Wanted price to rise further to think about a short trade but the lazy move continued
NZDJPY – Price ranged
USDJPY – Stated on the setup chart that I wanted to see more upside before thinking of shorting. Price rallied into the area of interest on Friday so going to repost this chart.
Certainly not the way I like to start a new season of trading. The posted pairs only gave up 255 pips of potential as some of the rallies/pullbacks continued.
Large price spikes can make a chart difficult to trade as fear/greed/ become pronounced with those conditions.
That said, we know the 1000+ pip weeks are coming and we had many of those in 2018.
For new members, some of this may be confusing but as many here can tell you, you will catch on. I don’t want to spoon feed people…give them just enough for them to find their “ahhh” moments.
If you read about failure tests on my charts, you can learn about them here: https://www.netpicks.com/traders-who-are-trapped/