Mar 21 – Mar 26 2021 – UPDATED
How did these do?
AUDJPY – Price dropped right to our second level and four hour chart gave an entry with a failure test of lows and outside bar. 107 pips are buy stop high of reversal.
CADJPY – Price fell right into our middle zone and on the four hour chart, could not get an entry at lows. Price rose up, pulled back and gave us an inside bar where buy stops orders can be placed. 78 pips to highs.
EURCHF – Price stayed inside the range
EURJPY – Price came into our first zone with a trend line break entry price ran 40 pips before falling back. Price then came to our last zone and put in a double bottom. Trend line break led to 70 pips upside.
GBPJPY – Price came right into our zone and the four hour chart gave the entry. Price bounced off lows, put in a higher low and entry was at break of 149.40 for a run of 210 pips
USDCAD – No short entry
USDJPY – Price came into bottom of range which is where you want to enter for a buy. Price bounced and resistance did not step in as price broke through. This fed buyers and price ran for 109 pips.
Last week was pretty slow with 269 pips off of four setups. Right now, price action is fairly tight on most pairs and that is the time to be very picky. The 7 setups for this week are mostly simple pullback trades with the zones to watch being marked. Once price enters the zones, you use the four hour chart for an entry trigger.
An entry trigger can be the break of a range, trend line break, price action reversals….there are many to choose from. Even using a hook in a short term moving average can be used.
Mar 14 – Mar 19 2021 – Updated
How did these play out?
AUDUSD – Pullback continued and on the four hour chart, a trend line break lead to a 110 pip upside run.
EURUSD – No entry long off the four hour.
GBPAUD – Again using a trend line break entry off of a four hour chart lead to 159 downside pips
NZDUSD – Price never broke down through lows as shown by the horizontal line on the set
This past weeks Forex setups brought in a potential 535 pips and Bitcoin doing well with a $6800 jump.
Only 4 setups this week as price is either still in momentum pushes or in tight trending price action. We are looking to get involved on higher time frame continuations by looking at entries on the four hour chart.