Weekly Trading Setups

Jan 17 – Jan 22

How did these do?

NZDUSD – Price got close enough (20 pips) to our measured move down target where we expected the down move to halt. Price drove off lows and gave us a four hour chart pullback. Break above pivot high lead to 88 pips to the upside.

NZDCAD – We were looking short on a pullback and while we did get our pullback to our zone, there was no trigger short as price remained strong to the upside.

GBPNZD – Price based under resistance which is bullish. Four hour chart as noted on setup chart. Breakout pullback for 133 pips to highs. Price took out Dec highs which we were waiting for. Expect resistance when that occurs. Short under failure test of highs is a 169 pip run. Traders also used a break of a four hour trend line for entry.

GBPAUD – We did get a breakdown on the four hour chart but there was no entry. Refer back to GBPNZD for the type of rejection we look for at support/resistance zones.

EURUSD – Euro held strong in this zone and obvious daily candle reversal lead to 102 pips upside.

EURJPY – Nice run up but we had no entry either upside or downside.

BTCUSD – Price came right into the low of the inside week which presented buying opportunities. Price rallied $5000.

AUDJPY – We were looking at longs but price broke the other direction.

AUDCAD – We wanted to play the range and price was at the lows of the range. While there was upside, there was no clear entry to get involved.

The whippy price action this past week with quite a few long shadows which can make it difficult to enter trades. Bitcoin had a run of $4800 before stalling and our Forex setups ran for combined 313 pips. I know many of you are looking for entry positions in Bitcoin to hold and these pullbacks, however slight, can be good opportunities. That said, BTCUSD set up an inside week last week and we need that to break to get back to the clean trends we have seen.

NZDUSD

NZDCAD

NZDCAD

GBPNZD

GBPNZD

GBPAUD

GBPAUD

EURUSD

EURUSD

EURJPY

EURJPY

BTCUSD

BTCUSD

AUDJPY

AUDJPY

AUDCAD

AUDCAD

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