Feb 14 – Feb 19
How did these do?
CHFJPY – Price broke monthly highs and while we were looking to short, the upside strength had us off this chart
EURCHF – Price continued to the upside
EURUSD – We were looking long and price broke down.
GBPAUD – We had two long entries on the four hour chart. Looking to trade the daily trend line break (this is an entry trigger, not a setup. Setup was support holding), which gave 71 pips before four hour pullback. Four hour pullback was simply a reversal entry long for 132 pips potential. Price stalled at the pivot high
GBPUSD – We were looking upside from that range. The entry was after the breakout on a pullback on the four hour chart. 158 upside potential.
NZDCHF – Price did hold support but we could not enter prior to the four hour breakout. Ended up a breakout pullback entry for 73 upside
USDJPY – We were looking for another leg down but price continued upside.
275 pips this past week in FX and both BTC and ETH gave entries long.
The key for the past trading week was trade triggers. What are you using to enter a trade? We had breaks of bull flags on lower time frames, reversal candlesticks and range breakouts on lower time frames into daily chart setups. Having a few methods to trigger a trade that show some movement in your favor is a vital approach
Short trading week coming up so keep that in mind when looking to trade.