Hi, I have some VERY big Triangle breaks lining up now.
Triangle breaks are a technical set up that work more often than not.
A recent one on the $/Yen that I analysed went 1200 pips as per the plan!
The two potential triangle breaks that I am watching now are both over a 1000 pips so well worth waiting for.
However as this is a very big news week we may have to wait until after this Fridays NFP news. In the meantime we can look at smaller time-frames for potential trades.
I showed in last Thursdays live training session how I am still using the 1 hour trigger system. It made over 675 pips on just a handful of pairs last week and the Nzd I showed as a possible trade also made 80+ pips! I still prefer to trade from longer time frames and there are potentially HUGE moves developing now but they probably will happen after this weeks NFP. Its the big week for news see the Forex Factory calendar
So we need to tip toe around all of it, especially avoid the Euro on Thursday before the ECB meeting and Draghis speech and finally its NFP (No Forex Please) Friday which can and does often show forex at its silliest. Possible scenarios here: jobless figures much worse than expected could see $ tumble as rate rise more likely to be put on hold, slightly worse, no change, expected or better rate rise more likely but has it already been added in to the current value? About 10 other options, bottom line no need to go looking for trouble, walk away.
Potential HUGE weekly moves on a number of pairs
This is a copy of the detailed analysis and trading ideas that I supplied to members on Sunday. We give similar information to our members every trading day here at Forex mentorpro:
A few months ago I showed in advance how a weekly triangle on the $/Yen was suggesting a 1200 pip on the pair. What happened? It did it almost to the pip! I have a few similar set ups now on my radar, back to easy street trading would be appreciated!
The Forex Week Ahead
I will focus on the 1 hour system see the start of the video
Longer time frames:
Euro/Gbp: Potential 1000 pip triangle break but before then I am interested to swing trade in same areas, namely 0.8700 and 0.8400. If either break and close I will be looking for an M2 break out pull back for the triangle move- explained in the video
$/Yen: Another 1000 pip triangle formed. Swing trades at 115.00 and 111.70. If 115.00 breaks looking to long for triangle. To short I prefer below 110.00
Cad: 1.3600 should see price struggle, so potential swing back down BUT reduce stake as this has finally broken, as ever watch oil. If 1.3600 breaks and closes on at least a 4 hour chart consider a long.
Euro/$: looking to short at 1.0850 and if that breaks again at 1.100
Chf: Swing at 0.1030 and 0.9700
Gbp/$: One to watch but its messy, possible short around 1.2480
New members please note: If I am looking to take a trade long, at for example 1.5000 , I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads. We are NOT a “tipping service” our aim is to teach you how to trade for yourself.
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