I’m not going to bother posting the demo account P/L with my weekly analysis anymore. There’s no point, since I don’t implement a SL on that strategy. I just tried to see if I could actually grow the portfolio based solely on the weekly holds. No possible, percentage growth is probably like 3-5% a month. 1 bad week with no SL could wipe out 3 weeks of mixed profits. So, that’s pointless, no point in doing that anymore. I’m just going to stick with the weekly record on these technical forecasts to improve my track record. I will say right now, I probably never plan to start “selling” this service. These weekly analysis will always be provided for free on this blog until I stop this finance hobby and shut the blog down altogether. So far, I’m pretty ok with my analysis with a few off weeks here and there. I’m doing pretty good since I started.
Mixed – Monthly Chart
Mixed – Weekly Chart
Mixed – Daily Chart
Mixed – H1 Chart
I was right on USD/CAD and EUR/USD, and also on GBP/USD and AUD/USD since they followed EUR/USD thus these two conditional forecasts were right this week. I considered EUR/JPY wrong because it didn’t follow EUR/USD, so I’ll take that as a loss despite the original forecast being right but since it didn’t follow the condition, it’s wrong.
This week is back to correlation trades, a few flag formations again + the bearish gartley set up on GBP/USD finally about to take form (if it does).
USD/CAD [Long]: Bullish flag + nice bounce this week off weekly support, so should continue back into the weekly channel as mentioned in previous analysis.
AUD/USD [Short]: Bearish flag + looks like it wants to get back inside the old H4 channel, if EUR/USD can weigh it down, then we have a lot of room to move down there.
GBP/USD [Short]: As mentioned last week, the huge bearish gartley set up + weighing in EUR/USD, looks to be taking form this week or next.
EUR/USD [Short]: Bearish flag formation + that lowered bank rate, which I haven’t actually looked into it’s effect yet, but since it dropped, I’m guessing EUR/USD should follow.
EUR/JPY [Short]: Correlation play as usual with EUR/USD.