Jordan reviews five trade setups from July 19-23, 2021: a rare push-pullback entry, EUR/CAD trendline breakout, AUD double-wave breakout, GBP/USD two-wave breakout, and EUR/GBP false break. He maps stop zones and swing targets for each, noting that conservative trade management performs better than aggressive approaches.
Chapters
Hello everyone and welcome to another weekly summary. This is Jordan, and as usual on Monday we're doing these kind of summary videos where we discuss the previous weekend, um, some of the more interesting setups which we personally, uh, find attractive. So let's see when the previous week was. That would be giving us 19th up until 23rd. So starting from here, and next page, 11 entries. So overall inside the table, right? Anyhow, let's not cover all of them. I'm going to start from the top. And just we'll see where we stop. Now the first one, this is probably a bit more interesting because this is a setup which doesn't happen too often, especially I'm talking about the actual entry price, right? The actual entry pattern. In our case, this is push pullback, and then we're looking for continuation in this. Specific direction, which is in the book at least it's called, uh, step trading, right? Now besides that, what we can say here is that we can see some kind of structure completing itself. We can see the sentiment momentum and the pair time frame monitor suggesting that we should be looking for a sell opportunity. So this structure, first wave pullback expectation here is for this thing, for this thing to continue lower. Now, one, um, important note here, uh, even though we don't have the higher time frames available to us at this very moment, you might have the opportunity to go ahead and protect this thing slightly more aggressive. And if we take a look at this chart, we can see that there was a Sorry, not strike but a spike. There was a bit of hesitation here, and basically that turns out to be a level, at least the way I see it from this screenshot. Okay, I'm not claiming I remember what was happening on the higher time frames, but given the current, uh, candles, in my opinion, you can be easily protecting this zone right here a bit more aggressively, which gives you 1:1 approximately here. Okay, and then, um, the swing is going to be covering already the second portion. Of course, you're risking that price might be doing something like this, right? You don't know. But this is what I'm saying, you have the opportunity or the option, uh, to go ahead and do that. In this case, it wouldn't really matter because it's be pushed up and it would be breaking the swing high. Next we have EUR/CAD. Now this is a bit more classical situation, and in your trading, uh, and in your experience, I'm pretty sure you're going to agree with me, especially if you have a bit more experience. But basically the idea is that, uh, the more conservative you go— at least that applies in my trading And in my performance and the results, the more conservative you go, the better it is. And here we can clearly see that the price is moving down, okay? We can see the waves, we can see the structures, we can see the indicators. It goes without saying, right? And then you have this consolidation right here happening, then you have a trendline breakout happening, um, It starts to look good, right? Plus you have something that starts to remind a fall— well, not, not a classical false break in the terms of false breaks, but you have a swing high. The price is breaking above it, holding above it, continuing higher, attempting to push in the opposite direction, and then we're going back below this zone. This is what I mean by false break, not like one candle kind of fall break, right? But Level false break, let's say. So this is probably the more interesting part here. Aussie dollar, let's see. Now this is also pretty regular, nothing crazy about this simple double wave breakout. In this case, it is a bit more conservative for one reason alone. You get the breakout, you get the pullback, price is holding below the previous low, and then the price starts to make new highs, right? This is how I think the conservative, uh, trendline breakouts in the club. And this is exactly that. Why does that happen? Because we got the bullish signal, basically the, the candle turning blue only here, right? Uh, besides that, we have a level which is kind of high density level. But this entire zone, we can split it into a few smaller zones, right? But that, that whole thing right here, this is the supportive zone. So basically the price is bouncing off that, um, a bit more aggressive protection. If you want to be protecting it more, uh, conservative, in a more conservative way, you should probably be doing this because it doesn't— entire zone Right, and then why am I saying that? Because we have the option or the opportunity for this to turn into something like that, and only then continuation high, which is basically 2 larger waves, right? Uh, so that would be the idea right here. Cable, let's see, one or 2 more. Again, pretty classical situation. You have the 2 waves. After the second wave, that would be a breakout right here. Okay, let's say that the high is holding, but even if it's not holding, uh, it's pretty much the same idea, right? Whether it's breakout like this or like that, assuming that we had some spike above it, then we need to move it. Uh, but it's pretty much giving us the same thing, which is candles turning to bearish right here. Of course, we have the zone, multiple levels. Again, we have the trend line, so that's pretty much, um, the idea. Euro pound. In this case, we have a consolidation, and I'm pretty sure it's kind of clear and obvious for everyone that consolidation, consolidation was false broken. So this must be redrawn like this, at least in my opinion. And actually, I missed there the spike when drawing it, so something like that. But overall, you got the point. Again, this is absolutely Um, clear and obvious, at least in my eyes. Push, you have momentum, you have consolidation, you're looking for the breakout, and then you're taking this, this trade. That's it. Then we have Bitcoin, which by the way started pushing, um, this morning quite a bit, but looking back a few days Uh, we can see that we were still in a bearish mode. Does the double wave, does the breakout. Again, absolutely classical situation, nothing crazy about that. And most of the trades that you're going to see here, most of these examples, they, um, they represent exactly these classical situations, right? So if you have any questions about any setup, not just the, the examples shown here in the tables, but anything that you might wonder about live trading, please find us in the Telegram groups or send us an email. We're gonna get back to you as soon as possible. Wishing you a fantastic week ahead. Have a good one. Bye.
