Sept 5 – Sept 10 – UPDATED
AUDCHF – Resistance held and price reversed for 48 pips to lows
EURCAD – Price made a move back up, set up an obvious reversal and dropped 60 pips
EURGBP – Patience on the entry but long upper shadows showed sellers in control. Outside bar on the four hour chart and short below for 46 pips
We only had 2 setups last week and both played out as expected. 379 pips potential for the week. Right now, daily charts are not in the best shape to trade. We either have prices extended in a trend move or weeks of range trading. The 3 for this week are the best that can be found. You have support/resistance holding or failing trades plus a pullback that is looking for short.
Aug 29 – Sept 3 2021– Results Updated
EURAUD – Price broke down and topped 189 pips to the downside.
GBPAUD – Price broke down through support and hit 190 pips to the downside. This was support holding or failing trade. Price broke support, based for four hours and broke down
411 pips on 2 of 3 setups from last week. This week, we only have 2 available as the majority of currency pairs have not had a ton of movement over the last few weeks. Looking at daily charts in the context of a weekly chart, we need to see price start making moves on the weekly for daily setups.
Aug 22 – Aug 27 2021 – Results Updated
CADJPY – Support held and price rallied 176 pips to highs
USDCAD – Price drove lower from the reversal for 235 pips
USDCHF – Price did not break the entry candle. No trade.
Last week was one of the biggest weeks in potential pips we have had in a long time. 1026 on 8 setups that had easy to find triggers to get into the trade. Trade management came into play on a few where price triggered, topped around 50 pips and reversed. The entry on Bitcoin was a little early but did eventually rally for $2000 from entry. Since most Bitcoin traders are holding, this was a good entry for the week.
Only 3 potential trades this week. Due to the large moves last week, many pairs need some type of consolidation to make them a viable candidate.