Aug 15 – Aug 20 2021 – Results Updated
AUDCHF – Late to the party as there was no entry until price ranged on the four hour chart. 160 pips to lows.
BTCUSD – Bitcoin gave the entry and began to pull back. Since we are looking simply for decent entries for positions, it’s hold. Price eventually rewarded with a $2000 move.
EURAUD – Massive move on the break of the entry line for a 399 pip moves to high
EURUSD – No trigger
GBPCHF – 211 pips from break of entry line
GBPUSD – Price melted down
NZDJPY – All targets hit on the breakdown for 162 pips
USDCHF – Lackluster break with 51 pips to lows before price fired back to the upside
USDJPY – 43 pips from break to lows and then price rallied.
289 pips from last week. Those were mostly continuation plays on the daily but using the lower time frames for the reversal trigger. This week, a few better setups including a few entry points on Bitcoin. Again, continuation trades are better traded off the four hour chart looking for a reversal, range breakout, or any type of trigger that puts price in the direction you want to trade.
Aug 8 – Aug 13 2021
249 pips this past week as price movement is quite slow. Without strong directional movement, it can be tough to manage trades. This is why trade management is just as important as where to enter and exit.
This week we see a long of currency pairs consolidating on higher time frames. This makes for choppy trading conditions on the lower daily charts. Still, we have 7 lined up for the coming week as we look for some continuation moves in most of them.
Aug 1 – Aug 6 2021 – Results Updated
AUDJPY – Price did not break our entry level
CADCHF – Price broke down and dropped 67 pips to lows.
CHFJPY – Price could not advance for a long trade
EURCAD – Price broke up with 57 pips run before falling back
EURJPY – Price ranged between our marked high and low point
GBPCAD – Pullback played out for 125 pips to highs
GBPCHF – Price did not break our entry line.
Pretty happy with the Forex charts from last week seeing potential pips of 759. Can’t forget the good entry on Bitcoin that saw a gain of $5000.
As usual, when you have one good week, the next week doesn’t look as great. Still some good setups with some being continuation trade setups. While reversals can get you a better entry, some times price is already on the move. Those are continuation trades. You can use a lower time frame, lower than the standard 4 hour chart, to see if you can find consolidations to trade off of in the direction of the higher time frame.
July 25 – July 30 – Results Updated
AUDCAD – Price broke through daily trend line being used to trigger trade for 88 pips
AUDJPY – Four hour trend line break had 44 pips downside. Price did rally for another short but price had yet to make lower lows. We considered it to be a trading range.
AUDUSD – Price ranged
BTCUSD – Price hit entry trigger of 36623.79 which was the swing high and broke. Price rallied $5700
CADJPY – Looking long as per chart. Outside bar entry at lows for a 103 pip upside run.
EURAUD – Break of reversal candle high sent price 178 pips upside
GBPCHF – Price put in a higher swing low on the four hour chart and trading range was considered. Price rallied to backside of trend line, put in lower high and had room to travel before running into support. Enter on reversal candle and price tumbled 90 pips
GBPJPY – Price did as expected and breakout pullback on the four hour chart entry led to 90 pips to highs.
GBPUSD – Price continued higher. No short.
NZDCAD – Price broke down on four hour chart trend line break for 66 pips to lows
NZDCHF – Price broke down and four hour chart trigger on trend line break for 100 pips to lows.
611 potential pips last week even with conflicted price structure. Some Forex pairs held ranges while others tested swing highs/lows and then failed.
This week we have Bitcoin back in the mix as we are starting to see life. A few hurdles to cross before we can really get moving and we are looking to take advantage of those breaks.
Thanks for the setups.
BTCUSD has a bear flag that got broken last week. My final target is 12k.