3 pairs were within trading region today according to my rules: USDCAD, AUDUSD and GBPJPY.
AUDUSD - Price made a new high for the week today and still had about 35% of its average weekly range to go. This weeks trend is up as well was the daily trend after US news. Therefore a high probability LONG trade went into effect. Against all probabilities, price went against my trade and hit my very tight SL.
USDCAD - Very similar setup as AUDUSD. However, this time a SHORT entry. No luck once again.
GBPJPY - As mentioned yesterday, a very nice geometric picture we like to call diamond present itself on the H4/H1 time frames. Although these last two months have been in downtrends, it seems that we might enter into a correction period. A MACD divergence makes me think about that as well as the geometrical formation. Today, following the days trend (up) and the weeks trend (also up), I made a LONG entry with a very tight Stop Loss. I will let this one run NORTH. So far so good.
Cheers.
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