Welcome back after a weekly break. Unfortunately system lost a little and currently the profit is +18% since beginning of the year. SL on AUDNZD and two new positions opened negated some of the profit. Of course it is totally normal and the losses are part of trading. We just have to look for another investment opportunities:
AUDJPY
Introducing negative interest rates in Japan caused rapid yen weakening. On AUDJPY it caused test of key resistance area. Trend is still a little bearish, so if there will be any Price Action sell signal we can consider opening shorts.
If you are interested in Price Action Strategy description, you can read it here.
AUDNZD
Here there is mentioned Stop Loss and situation changed drastically. After breaking the resistance and close above it (it turned to support now) sentiment is bullish and we can only play longs. If there will be any bearish correction which will test earlier resistance area, I will look for signal to open longs on H4 or D1 chart.
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AUDUSD
Aussie is also growing, but we can see reaction of price for resistance. Friday’s candle can be considered as a Pin Bar but local support is too close to open position. We just have to wait for further moves.
EURUSD
This pair is consolidating with smaller price range. It is clearly closed between support and resistance and the scenario for next sessions is obvious. Longs on support and shorts on resistance should let us earn. Of course if there will be any break we should play consistent with the direction.
GBPAUD
On Thursday there was clear buy signal on this pair. Pin Bar after test of support didn’t left any illusions about possibilities to open position what I of course did. Unfortunately low was deepened and it ended with Stop Loss. Here I shouldn’t blame myself because it was well played according to the system.
GBPCHF
Sell signal on this pair. Trend is bearish and Thursday’s session testing resistance was big enough that two next ones were inside it and created Inside Bar. Yesterday there was a break and quick move back to mother candle range (Fakey). Scenario here are simple:
- Open at market price
- SL above Friday’s candle
- TP in 1.4150 area.
USDCAD
Strong correction on Loonie which reached the support. If there will be any buy signal on daily chart on this or another support, we should open longs consistent with strong long term bullish trend.
USDJPY
Very similar sell signal on this pair. Wednesday’s daily candle broke above mother candle from January 22nd. I opened short but BOJ decision was quite surprising and it closed on SL.
