SB Trade Desk Highs and Lows: 8/7/2017

Highlights from last week include NZDUSD, GBPJPY, and USDCAD examples.

Each weekend, we’ll share a few examples of our work from the prior week.  Many in this business scream to the high heavens when they make a good call and conveniently ignore when they are wrong… they are charlatans.  Our goal with ‘Highs and Lows’ is to review what we got right and more importantly, what we got wrong.  The following examples are from the Swing Updates, published Sunday to Thursday (here is a Swing Update tutorial).

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Highs and Lows for the Week Ended 8/4/2017 


NZDUSD 4 Hour 8/1

8/1 – The setup is to short into the underside of the short term median line (red line), near .7458.  The worry with this trade is that a final 5th wave rally could take place before the real turn (2 charts down).  I’m willing to do the trade because the levels are so clean and price is below the latest high volume level of .7485.

Aftermath – A short was issued at .7457.  Price traded to .7457 and turned down immediately.  A target was just hit at .7365.

GBPJPY 4 Hour 8/3

8/3 – An area to keep in mind for the next low is 142.75-143.04.  The zone is marked by resistance in February and June and 2 legs down from the July high.  Watch for 145.19/43 resistance in the interim.

Aftermath – GBPJPY popped into 145.23 the next day and turned down.


USDCAD Hourly 8/3

8/3 – One more push could complete the rally from the low.  A dip in minute wave iv could test 1.2540 but there is no change in strategy…still looking for the next top in the 1.2630s.

Aftermath – USDCAD did not find a top at or near 1.2630.  The rally is still viewed in the context of a correction however and we’ll be on the lookout for clarity regarding the next price peak.  There were no triggered trades in USDCAD last week.