Jan 31 – Feb 5 2021
How did these setups do?
AUDCHF – Price broke our highs and pulled back – typical breakout/pullback. Reversal candle off the four hour chart on Feb 2 and we had a 76 pip run to the upside.
CHFJPY – Reversal short in play for a 73 pip move to the downside.
EURAUD – Double top off the four hour chart led to 187 pips downside.
EURCAD – Bear flag off the four hour to get into the down move. 159 downside pips.
EURGBP – We were looking long and no entry as price kept breaking lower.
GBPAUD – Price ranged at highs
GBPJPY – We were looking long and pullback on the four hour chart was ugly. Entry is break of down sloping trend line that lead to 135 upside pips
NZDCAD – No pop up to trade
When you have pairs trading inside the previous week range, you get the opportunity for both directions. 560 pips potential this past week helped along by a few pairs with long and short positions.
We are not having clear runs in prices so far this year with price jumps coming out of nowhere and then subsiding. This has given many charts that are difficult to trade off of on the daily timeframe. The pairs for this week, were the clearest of the bunch.