July 31 – Aug 5
AUDJPY – Reversal to the upside happened with 120 pips potential
ETHUSD – Even though we got a bump with ETH, the pullback was not deep enough for my entry
EURJPY – Price kept dropping so no pullback to short
GBPUSD – 153 pips potential to the downside
EURUSD – Price continued to range
277 pips last week and some good gains in both crypto listings. This week, a small handful of setups as price is either already making moves or the price action is still in flux. Always best to pick the easy ones and let the price action in the other ones sort itself out.
July 24 – July 29
AUDUSD – Price poked into the red zone area and four hour chart gave an inside bar price trigger. 118 pips to the upside
BTCUSD – Breakout of our line with a $2300 gain to the upside that was supported with a support level bounce at the black line below the green zone.
ETHUSD – Beautiful support zone failure test with obvious reversal candlestick giving us an upside move leading to $320 increase
USDCAD – Wanted upside but price had other plans.
GBPUSD – Upside break for 159 pips potential
EURUSD – Price broke downside
USDJPY – Needed the level to hold and it broke down. This was an expected move due to the long run up in price. But, I trade the trend and there was no obvious exhaustion to the upside to set up a short play
Came back last week with potential pips of 578. The power of the zones we show in these setups can often times give high probability locations. You just need to supply the trade trigger. Note this week that crypto is show some favorable price action for setups. Not guaranteed trades of course but looking like some upside coming into play.
July 17 – July 22
AUDJPY – Price could not claim over the resistance.
AUDUSD – Trendline break and pullback on four hour chart for 164 pips potential.
EURAUD – Price broke down for 153 pips potential
EURCHF – Breakout did not occur
EURJPY – Price pulled right into our second setup zone for 235 pips to the downside
EURGBP – Price spiked right into our setup zone and four hour chart short lead to 26 pips downside.
After a week with no setups, we return with 6 Forex setups with a few counter trend trades setting up. With counter trend, make sure you take the profits at the first sign of reversal. Crypto, namely Bitcoin, is still looking to find some legs and is ranging at the end of a 22% weekly chart down move. Good luck this week.
July 10 – July 15
715 pips potential from last weeks setups as price is either ranging in pair or in a longer term range. This is the first week in recent memory where there is no setups to list. Price is either in ranges or already in trending moves such as the USDCHF. No need to trade just to trade and we shall see how price resolves this week and look again next week. Protect your capital.
July 3 – July 8
EURJPY – Price continued to reject as desired and found lows 453 pips below
GBPJPY – Looking short and inside bar break leads to 262 pips downside
GBPUSD – Price continued to break down
USDCHF – Was looking for lower but price broke to the upside
150 pips last week as we are getting little trending movement in any currency pairs. This week, we have 4 setups but the condition of price across the board is less than exciting. If you have never used the four hour chart for a trade entry, I would suggest you watch that time frame for daily setups. It will get you in a bit earlier allowing you to either bank some profits or at least give room to manage a stop.
