July 21 – July 26 2019
How did these play out?
AUDCAD – Down move was in play 88 pips.
CADCHF – 46 pips upside from the support zone bounce as indicated
CADJPY – 24 pip jump upside before the pullback
EURAUD – We had the pullback zones marked and monitored the four hour to see strength of pullback. Momentum thrust on the 23rd plus basing at highs had the breakout to the upside as a countertrend entry. Remember, momentum in a pullback is not something we want but makes a great trade. 130 pips upside
EURJPY – Looking long and 82 pips upside was the result off a four hour breakout
EURNZD – 198 pips upside using a trend line break on the four hour chart as an entry into the pullback on the daily.
GBPAUD – 200 pips upside on a breakout entry on the four hour to ride the pullback
NZDCAD – Wanted a brief pause to consider upside and while the pullback still had longs in play, the momentum candle to the downside took longs off the table
NZDCHF – Was looking long and the breakout happened to the downside.
NZDUSD – Wanted a pullback and considered the short for a counter trend but no entry to grab some of the downside.
USDJPY – We got the upside for 50 pips and price lost interest in moving.
Many of the Forex setups I posted played out as written on the setup charts. 423 potential pips once again using the combination of the daily and four hour charts. We are finding some other sites taking our setups and posting them on their sites. This is what happens when site owners make trading websites but are clueless on how to actually trade.
If you see one of these failures, please comment and point traders to this site. You will notice I have watermarked my setups even larger.
Really study the AUDUSD on how you can use the patterns on the lower time frames as trade entries on the higher time frames. Once you begin to master that, you will find yourself with earlier entries and making profits even on the moves that don’t get much movement. Most get some movement that you can capitalize on. Remember, using the daily chart setup but the lower time frame for entry when you can takes advantage of the power of the higher time frames.