Dec 19 – Dec 24
Results
AUDJPY – Price evolved quickly the next day with a spring off of lows giving us a perfect buy setup for 188 pips. Price had taken out the highs on the posted chart, taken out the lows on the Monday and reversing. On a weekly chart, we got an outside bar
AUDUSD – Played out much the same as AUDJPY and was noted as a bigger picture bull flag. 118 pips potential
EURUSD – Price continued to range
GBPAUD – Price continued to consolidate
GBPCAD – Price broke to the upside for 108 pips missing the target by 4 pips
GBPNZD – Price continued to range
We will eventually get back to big runs in price, but this wasn’t the week to happen. Just over 200 pips potential with the 16 currency pairs I look at. Crypto is not in this week as the charts look like random slop without one side gaining much ground. You can certainly watch them for any momentum stepping in but there is no setup that I look for present.
AUD is in a few of these setups because of the strength it has been showing. If weakness begins to step into that currency, the setups will probably fail.
Dec 12 – Dec 17
Results
AUDJPY – No strong close out of the range. No failure test of support for an entry into the range. A failure test of resistance back into the range. Needless to say, no trade.
AUDUSD – Same as AUDJPY
BTCUSD – Nothing
EURCHF – Failure test short back into a tight range. No longs
EURUSD – Stayed inside a triangle
GBPAUD – Pullback happened and alert was set to signal when price was lower than Nov 29 closing price. Four hour chart used with trendline break entry. Price gave a potential of 141.
USDJPY – 56 pips potential off a bull flag. Reviewing this afterwards, this seems more of a breakout failure than the failure of a bull flag.
484 pips in play last week. No matter how many years go by, using a lower time frame with a simple trend line break can be a simple entry into any trade. For this week, AUD has shown some strength so pick one cross and use that. Bitcoin, is still not in a good place. How you handle Bitcoin will depend on the type of trader you are. For me, I am looking for buy points as I don’t trade it in an active manner. With any instrument, big spike moves can throw it off for weeks as traders digest that move.
Dec 5 – Dec 10
Results
AUDUSD – The climax push into lows was confirmed. Four hour chart entry off a trend line break lead to 132 pips to the upside.
BTCUSD – No entry
EURAUD – As mentioned, price was extended and into resistance. Four hour chart trend line break to the downside 272 pips potential.
EURGBP – Got a short lived reversal for 20 pips before price ripped back to the upside.
EURUSD – We got an upside hit later in the week that drove up 60 pips
GBPJPY – Consolidation this week
GBPNZD – No trade
USDCHF – We got momentum to the upside which turns off looking to short the pullback
For the first time in history, there were no triggers on the setups last week – except a buy in ETH.
Even after a big week as we say Nov 28 – Dec 4, I expect something. Not this time. Then again, given almost a 4% sell off last week in the S&P, no surprise that risk was off the table.
This week, we are looking at a few pairs running into support, some consolidations, and a breakdown on Bitcoin.
