2 trades 335 pips gbpaud and euraud

2 trades closed this week. The gbpaud entry was a little early, the bounce coming a little lower from the W pivot W M2 exit for +204. Euraud exit for +131.

Trade of the week gbpaud 261 pips

Price came into an identified support and resistance area from February 2015, if you look at a monthly chart you'll see how important the area was through the years. Price hesitated at W M3 with divergence showing on 4hr. Exited at the daily low from 6 Mar and 3 Apr '15 for 261 pips.

Another week another 284 pips trade

Bought a higher low from lower time frame but it was a little early and the bounce came from the W M0 pivot just below our entry. As often mentioned the aud pairs seem to love the W pivots. Exited again for +284 before the weekend and we are also away Monday/Tuesday next week.

Trade of the week 284 pips

Price came into a resistance level identified by the D chart and W R1. We sold a lower time frame lower high and exited at a potential support level for +284.

London open 4 March '15

Same set ups that occur frequently.

5 minute charts - the eur pairs fail to follow through on their moves up. Prices fall from the top of their ranges with clean AB moves below the 20lwma's testing the lows of range, small BC retraces to form the lower highs. As confirmation there is agreement across pairs so we are confident that the eur was generally weak.

The GBP pairs follow some time later after London open.

London open 27 Feb '15

Perfect example of test or break and test of range this morning. Moves up fail, clean AB moves lower, test of range or break and test of range (depends on which pair you look at), small BC retrace to set up the lower high, GBP weak across the board.

GBPAUD trade 23 Feb '15 151 pips

A strong negative close on the D last Friday had no follow through lower in Asian session. In the general support/resistance area from last weeks lows and W M2. A strong positive close (3 bar reversal) on 1hr and positive divergence on 4hr. 15 min higher low. Take profit loaded just below Fri's high +151 pips.