Jan 06 – 11 – 2019
How did these setups do?
AUDCHF – The rally continued and is up against the zone we would start to look for shorts. No trade.
CADCHF – Rally continued.
EURAUD – Pullback continued.
EURNZD – Tricky play but long time readers know the four hour chart is our go to time frame for support/resistance holding/failing trades. Bounce from support (remember we wanted shorts) and the rally failed. Four hour chart failure test gives us our entry for 255 pips potential. This trade is a great example of getting into a breakout before they happen. This is something I talk about almost every week.
GBPJPY – Pullback simply ranged for the week
NZDCHF – I made an error in posting this chart when I showed we were looking for a short entry. The trend I trade, the weekly for the most part (direction trumps trend – check Joe Dinapoli for that) is up! No trade short.
Welcome back and we are staring off 2019 with some tough trading conditions. Regardless, 2018 was a fantastic year with the setups that were posted here and many of you have expressed your appreciation. Here’s to a successful 2019! (and please share this site if you find it of value)
Price spikes always caused a challenge when trading as they are so emotional in nature. They rarely turn the longer term trend direction and with swing trading, higher time frame trends do matter. I do like to wait until the effects pass but you will see, the pullbacks are still in effect. The strong rallies are a concern but again, the spikes in price have tilted price and I will look for weakness in the price action.
Crypto traders who like to hold positions have not had great trading conditions for weeks, if not months. I am looking through them every week but the price action is just not conducive for traders who put risk first.
AUDCHF
CADCHF
EURAUD
EURNZD
GBPJPY
NZDCHF
If looking for the last archived set of setups, click here
thank so much !
Hello, Happy new Year and thanks for your help. It’s possible for your you to tell us the daily trend for your pairs you gave us? this iformations will help us more. Thanks again and wishing you the success.
That’s assuming I use the daily trend. 🙂 I could use a weekly trend or even a directional bias as opposed to trend bias. The information I put on the chart should be enough for you to know what the trend is I am trading. Shorting….means down trend/direction. Buying….uptrend/direction.
Happy 2019. Hoping you have a great year.
i used the failure test on the EN chart from the 4 hour chart like you wrote and my trail stop was above high of red bar after thrust down. I did not get all of the move but 208 pips one trade. Was that good you think? You are right because the other charts did not do to much.
Hi Clarin and happy 2019 to you as well.
The failure test certainly was aided by the momentum move from lows to break highs. Generally, especially a range, if price thrusts up from the bottom of the range (or lows in this case), the moves are often times short lived. This gives rise to the failure test (upthrust) and immediate reclaiming of lower price.
The trailing stop is fine. If you go back to the daily chart, you will see a measured move of 1:1. Jan 3 high to low of Jan 7 projected from high of Jan 10 comes in around 1.6752. Good job!
did you short the EURNZD and what was the outcome ??
This blog is not a documentation of my own trading and rarely comment on any move I make in the market. I do post up from time to time trades where there is something to learn. My swing trade is currently a long in Natural gas since Thursday.
You helped turn my tradin g around in 2018 after 4 years of hit and miss. I wish for you a best 2019 and blessings for your life. Thank you
Hey Benny! Awesome to hear! You take all the credit my man, I just gave you a path.
it is impossible to see the prices on your charts so how does one uses them ?
It’s not the prices that are the most important thing. These are daily charts and it’s the action and market state we are looking at. Bring up your charts and look for the same type of pattern or chart formation. You can, if price is important to you, open in a new window and zoom in. You can compare yours to mine and see a relationship, no?
Thanks for sharing. I’m certainly a beginner, i was looking to see BUY or SELL a particular pair. how do i know which pair to buy and which to sell.
Hey Bill
Beginners may have an issue at first but you will quickly get the hang of it.
Take the first chart, the AUDCHF: It is calling for shorting which would be selling the AUD and buying the CHF.
In essence, I am looking for eventual AUD weakness against the strength of the CHF
This site is much different than the others. I lay out my technical look at a currency pair, in the above case selling the AUD from a pullback in what is a downtrend on both the daily and weekly chart. Other context is in play but is far too much to go into here. You will see it on the charts at times and at the end of the week.
I don’t think holding hands is a good approach. You have to find your way around the charts, how to enter and such…and this site is an excellent resource (so I am told).
Not saying I am always right (I’m not) but my approach is different.
Like I mentioned, it’s different. I remember months ago in this very comment section (some of you may remember), one visitor was mocking me for wanting to buy the EURUSD when “everyone” wanted to short. Didn’t take long before the “everyone” was on the wrong side and the EURO jumped upside.
You can read about it here: http://cryptobinaryforex.com/selection-comments/ and here http://cryptobinaryforex.com/do-your-own-work/
Thanks for your effort in educating us, this is one of the sites that I cherish alot because its fully loaded. My observation is that you have brought to bear those pairs that traders most times neglect or thinks that not much can be gained from. Thanks a million you are truly a Mentor
Thanks. I don’t write many blog posts anymore because I think the weekly setup charts are much better.
As for the charts, I actually look at non-US crosses first as they are not as affected by U.S. news. I make much more trading those as opposed to any USD cross.
I look for pairs that are demonstrating moves that have a true edge in the market and the context it forms in. What I look for is truly evident in every chart I post.
How do you select/filter the pairs for the week of trading? I’m working to minimize the amount of time on the weekends upon technical analysis.
Thanks,
J
I know what I am looking for on the chart and have been doing it for well over a decade. Stick around or check the archives, you will see the same approach every week and the explanation of how price played out on the next update. Thanks for coming by!
Thanks so much! I’ve already learned a lot from the site. J
Thanks for saying it Juan! I am happy to hear from those who are getting something out of my work!
Thank you for the signal…I will follow and see if they trigger or not….Also, I will like to see if the Trend reverse or it continues as suggested after the supposed PullBack…Once again, Thank you for posting.
Thanks for reading. Well, it is not a supposed pullback, that is what price is doing. If momentum steps in to the upside or the pullback ends up in a range, the pullback has failed. The range can still be played but the momentum not so much. As for trend, you have to know which trend you are referring to and how you quantify trend.
please sir,
the signals are for which day of the week and at what time?
Thanks
Hi Emma. I suggest you re-read the introduction on the setup page: http://cryptobinaryforex.com/forex-trading-signals/
These are swing trades and not specific to any day of the week. These can trigger in on Monday and run the whole week or fail to setup.