Feb 28 – Mar 5 2021 – Results Updated
How did these setups do?
BTCUSD – Price came into the support zone and using the four hour chart, a trend line break entry leads to a $5700 run to the upside.
CADJPY – Price was holding the zone and again, the four hour chart entry is used with a trend line break trigger. 159 pips to highs.
CHFJPY – As indicated, we were looking downside using the four hour chart trigger. Price puts in a lower high (think head and shoulders) and entry is upon breakdown or break of support. 119 pips to lows
GBPCAD – Price gave no upside at all and we had a momentum thrust downside. Look for low momentum pullback to short with a trend line break trigger on four hour chart. Led to 126 pips downside. Use these momentum pushes that are counter to the overall trend for a one leg trade.
GBPCHF – Price held support at our zone. No entry off lows until range on the four hour chart on Mar 1. Buy stop high of reversal candle that poked below range support. 229 pops upside to highs.
GBPUSD – Support held with a reversal candle/failed test of lows of range on daily. 40 pip upside before price collapsed.
USDCHF – Price did as expected but entry could not be taken until pullback on Mar 2 as price just rocketed at the open on Sunday. 165 pips
ETHUSD – Price came into zone of opportunity with obvious reversal leading to $259 upside.
EURJPY – Price stayed right on our zone and trend line break entry on four hour led to 102 upside pips.
Stellar week in the FX market with our 6 setups giving a potential of 1183 pips. Some of the pairs made strong gains before our trade triggers happened on the four hour chart.
Often times the next week after big moves can be slow so ensure you have your trade triggers and risk parameters set. In this case, we are heavy with GBP crosses so watch your exposure.
Cryptocurrency took a big hit this past week but BTC and ETH are at potential points where price could rally.