2022 Nov Week 3 EURUSD *BACKTEST Overview
Backtest Report is as follows:
# of Valid Positions: 2
- Monday: R/R 6:1 (LONGS)
- Friday R/R 4.5:1 (SHORTS)
Overall movement of the week:
EURUSD was looking to move in a bullish CONTINUATON impulse in the beginning of the week. Looking into potential LONGS positions up until hitting the weekly key zone at price 1.04000, validating Monday's longs position. Upon hitting said zone, awaited multiple rejections on the 4 hourly timeframe BEFORE looking into entering potential shorts. Initially beginning of the week the market condition was BULLISH in the 4 hourly chart, but once price started to reject said weekly key zone (1.04000), I started to expect that the market condition was going to change later on in the week (as seen on Tuesday, Wednesday, and Thursday). With fundamental news being positive for the USD on Friday US session (Existing Home Sales News event), bearish market condition became very apparent and strong, validating Friday's shorts position.
# of Valid Positions: 2
- Monday: R/R 6:1 (LONGS)
- Friday R/R 4.5:1 (SHORTS)
Overall movement of the week:
EURUSD was looking to move in a bullish CONTINUATON impulse in the beginning of the week. Looking into potential LONGS positions up until hitting the weekly key zone at price 1.04000, validating Monday's longs position. Upon hitting said zone, awaited multiple rejections on the 4 hourly timeframe BEFORE looking into entering potential shorts. Initially beginning of the week the market condition was BULLISH in the 4 hourly chart, but once price started to reject said weekly key zone (1.04000), I started to expect that the market condition was going to change later on in the week (as seen on Tuesday, Wednesday, and Thursday). With fundamental news being positive for the USD on Friday US session (Existing Home Sales News event), bearish market condition became very apparent and strong, validating Friday's shorts position.
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