Aug 4 – Aug 9 2019
How did these do?
CADJPY – Watching the usual four hour chart, we had the failure test entry that broke north for 93 potential pips. Didn’t have an entry to take the ride down.
EURCAD – Price did pop higher than expected but the short entry was obvious. 160 pips after price breaks the opening price of the high candlestick on the four hour chart.
NZDUSD – Looking for reaction at lows. We saw the four hour basing and the failure test of highs on Monday which is an entry we prefer. 163 pips to lows potential on this pair.
This week had most of our setups play out including a rare Bitcoin trade. Almost 1300 pips potential were available that used the exact entry techniques we’ve discussed for years on this site. Bitcoin gave out a $1378 upside price jump using a simple pullback setup with a trend line break entry. Nothing fancy.
Hard pressed to find great setups this week as price has extended on many pairs after the wonderful week we just had.
July 28 – Aug 2 2019
How did these do?
Bitcoin – The long trade using a trendline break for entry as noted ran for $1378 and is still on the move at the time of this update
CADJPY – Four hour chart entry off a failure test and price dropped 240 pips
EURAUD – The only entry was off the four hour chart pullback on Aug 1 for a 258 jump to the upside
EURCHF – Price just rolled over to the downside. No upside trigger
EURNZD – Had to wait for the four hour chart to give an entry and it did with pullback on Aug 1 for 200 upside pips
GBPNZD – Failure test off support for 300 upside pips as noted on the setup chart
NZDCAD – Not much happened in this pair to find a trade in any direction
NZDCHF – Downside breakout pullback trade as noted. 100 pips
NZDJPY – Support failed on this setup and a simple breakout/pullback and sell stop below momentum candle leading to a 200 pip drop
The combo of daily chart setups and four hour chart entries has stood the test of time here for years. I will write a trading blog post about it for those that are unsure of what that means. 818 pips were in play this week aided by using pullbacks that fit a certain criteria (momentum stepping in), as counter trend trades. Not something that can always happen (such as the NZDUSD) but when they do, monitor for weakness.