Good morning everyone.

What’s up and what`s down this morning?

Well the spaghetti indicator tells us nothing is up or down and that we very flat this morning.

HOWEVER…………….

The Euro/Dollar, GBP/JPY, USD/JPY and the USD/CAD and Dollar Index all oped with GAP`s this week. Most of them are still open so I will be keeping an eye on them as 90% of the time GAP`s do close.

For more about GAP trading……..Go to the education tab and then look for the Other Trading Strategies tab and then for the GAP trading strategy

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Webinar:

Please register for Forex Mentor Pro Live Training on Mar 30, 2017 11:00 AM BST at:

 

https://attendee.gotowebinar.com/register/4630879474978732546

 

Live training session with Marc Walton. Pierre du Plessis & Judith Waker. The team will assess fundamentals, M2 Earth & Sky & the trigger system for potential trades. Followed by a Q & A session

 

After registering, you will receive a confirmation email containing information about joining the webinar.

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1) `Red Flag News` that can make you lose your pants if you are not careful. 💡

You can use the following web site for `SCHEDULED NEWS` for the week @ http://www.dailyfx.com/calendar

Don`t take any trades just before `Red Flag News` If you are already in a trade, protect your entry. I don’t want to meet up with you at Little Beach, Maui, Hawaii. Did you know this is a nudist beach?

For reference if you don’t want to believe me, have a look at the 4th of April 2013 at all the JPY pairs what happened with price after `Red Flag News` came out. ALWAYS TRADE WITH A STOP! 

Still don’t believe me? Then you must be new to Forex Trading

Have a look at what the Swiss did to the market on the 15th of January 2015!!

You would have lost the shirt on your back, your house, your car, your personality and your virginity for a 2nd time if you didn’t have a stop in place!!! 👿

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2) Where is the `Forum Hang out Spot` that everyone is talking about?

On the top of this main page, go to the ` Forum` Tab and click on it…….once in there, look for `Main forum and Current weeks trades` and click on it………Once in there look for `Pierre`s Earth and Sky Trading week `and click on it……..once in there, look for the Current week`s Thread Tab and click on it……easy as pips! 😉

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3) This week`s Analysis:

This is my current `Earth and Sky Trading Zones` – Please take note of the time frames I am looking at.

Sometimes I will refer to `The mother in law` in my video`s or in my write up. The mother in law represents the 200 EMA (the pink line) on that specific time frame.

If you new to the `Earth and Sky` please make sure to read the supporting notes for this system – Look for unit  in the education area under Earth and Sky System.

Go to the `Education Tab` here in the main blog and look for the `Earth and Sky Trading System` where you will find helpful videos using this system.

Remember to have a look at some of the other methods we teach here at Forex Mentor Pro too.

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What’s the spaghetti indicator (RS All Indi) telling us?

The spaghetti indicators shows us that we a little flat at the moment on all currencies so I will be keeping an eye on this Indi to tell me later on if any currencies are getting overbought/oversold once we above the 8 line and min 8 line.

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Let’s have a look what’s cooking in the Forex Kitchen !!  

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1) Euro/Dollar on the 4 hour chart:

Difference between last week’s open/close: Plus 102 is

GAP TRADING:

Did we open with a gap this week? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!

Did the gap close? NO !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy”

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 1.0816 and 1.0769 levels

Potential area to look for reaction: At the 1.0816 and 1.0802 and 1.0781 levels.

Potential Profit take areas: At the 1.0850 and 1.0892 levels.

MACDEE Divergence: No
Stochastic: Coming out of overbought area.

Counter Trades:

Potential Counter Trades: At the 1.0892 and 1.0909 levels.

Potential Profit take areas: At the 1.0816 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Notes:

We opened with a GAP this week that`s still open so potential shorts can be on the cards so that the GAP can close.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the Euro Index, Euro/JPY and the Euro/GBP. Be careful; don’t take the same trades on these four pairs at the same time!

Also remember: This pair is `NEGATIVE CORRELATED` (moving in the opposite direction) as the Dollar/CHF pair. Be careful; DO NOT OVER EXPOSE YOUR ACCOUNT BY PLACING OPPOSITE TRADES ON THESE TWO PAIRS.

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3) Euro/JPY on the 4 hour chart:

Difference between last week’s open/close: Min 114 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? No

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under  the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 120.59 and 121.22 levels

Potential area to look for reaction: At the 120.51 and 120.75 levels.

Potential Profit take areas: At the 122.50 and 122.89 and 123.67 levels.

MACDEE Divergence: No
Stochastic: No man’s land.

Counter Trades:

Potential Counter Trades: At the 118.87 levels.

Potential Profit take areas: At the 119.98 and 120.36 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Notes:

Wait for price to come to you.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the Euro Index, Euro/USD and the Euro/GBP. Be careful; don’t take the same trades on these four pairs at the same time!

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4) Euro/GBP on the DAILY chart:

Difference between last week’s open/close: Min 8 pips

GAP TRADING:

Did we open with a gap this week? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!

Did the gap close? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

LAST WEEK WE CLOSED MIN 8 PIPS LOWER THAN THE OPENING. The direction is mixed on the 4 hour but still long on the daily…..that is why I had to fib the daily chart.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 0.8595 and 0.8499 levels

Potential area to look for reaction: At the 0.8629/19 and 0.8547 and 0.8528 levels.

Potential Profit take areas: At the 0.8727 and 0.8787 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 0.8727 and 0.8787 levels.

Potential Profit take areas: At the 0.8666 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Notes:

If the 55 EMA at 0.8619 breaks to the downside for some reason….be careful as we can drop to the monthly main pivot and 200 EMA at 0.8528.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the Euro Index, Euro/Dollar and the Euro/JPY. Be careful; don’t take the same trades on these four pairs at the same time

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5) GBP/Dollar on the 4 hour chart:

Difference between last week’s open/close: Plus 132 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? No

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 1.2475 and 1.2405 levels

Potential area to look for reaction: At the 1.2461 and 1.2446  and 1.2405 levels

Potential Profit take areas: At the 1.2586 levels

MACDEE Divergence: Yes !!!!!!!!!!!!!!!!!
Stochastic: Overbought

Counter Trades:

Potential Counter Trades: At the 1.2586 and 1.2616 levels.

Potential Profit take areas: At the 1.2461 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Notes:

If the 55 EMA at 1.2446 breaks for some reason….be careful as we can drop then to the 1.2400 level where we have some EMA`S and a WS1 pivot point.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the GBP/JPY pair. Be careful; don’t take the same trades on both pairs at the same time!

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6) GBP/JPY on the 4 hour chart:

Difference between last week’s open/close: Min 118 pips

GAP TRADING:

Did we open with a gap this week? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!

Did the gap close? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 139.08 and 139.75 levels

Potential area to look for reaction: At the 139.13 levels.

Potential Profit take areas: At the 137.75 and 137.25 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 137.25 levels.

Potential Profit take areas: At the 138.84 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Notes:

If we break the 55 EMA to the upside for some reason……next resistance level will be at 139.92 where I will re look to short.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the GBP/Dollar pair. Be careful; don’t take the same trades on both pairs at the same time!

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7) Aussie/Dollar on the DAILY chart:

Difference between last week’s open/close: Min 73 pips.

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Notes:

We breaking key support this morning so I will be sitting on my hands for now. Possible short set up from the 4 hour 200 EMA at 0.7622 or possible longs from the resistance pivot and daily 200 EMA at 0.7550.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the AUD/JPY pair. Be careful; don’t take the same trades on both pairs at the same time!

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8) Aussie/JPY on the 4hour chart:

Difference between last week’s open/close: Min 244 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? No

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 85.57 and 86.40 levels

Potential area to look for reaction: At the 38.2 fib at 85.17/29 and 85.96 and 86.14 levels.

Potential Profit take areas: At the 83.90 levels

MACDEE Divergence: YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 83.83 levels.

Potential Profit take areas: At the 85.00 and 85.43 levels.

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Notes:

Big support roadblock coming up at the daily 200 EMA at 84.00 and 83.83 levels.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the AUD/USD pair. Be careful; don’t take the same trades on both pairs at the same time!

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9) USD/JPY on the 4 hour chart:

Difference between last week’s open/close: Min 213  pips

GAP TRADING:

Did we open with a gap this week? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!

Did the gap close? NO  !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 111.55 and 112.26 levels

Potential area to look for reaction: At the 111.22 ( 38.2 fib)  and 111.84 levels.

Potential Profit take areas: At the 110.14 levels

MACDEE Divergence: YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 109.70 levels.

Potential Profit take areas: At the 111.18 levels.

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Notes:

Currently in no man`s land. Wait for price to come to you..

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10) USD/CAD on the DAILY chart:

Difference between last week’s open/close: Min 6 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 1.3258 and 1.3120 levels.

Potential area to look for reaction: At the 1.3323 ( 38.2 fib) and at 1.3237 levels.

Potential Profit take areas: At the 1.3426 and 1.3450 and 1.3538 levels.

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 1.3426 levels.

Potential Profit take areas: At the 1.3296 and 1.3323 levels.

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Notes:

We getting closer to the WR1 pivot and MR1 pivot so I am expecting resistance.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the Dollar Index. Be careful; don’t take the same trades on both pairs at the same time!

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11) USD Index on the 4 hour chart:

Difference between last week’s open/close: Min 98 pips

GAP TRADING:

Did we open with a gap this week? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!

Did the gap close? NO !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 99.66 and 100.07 levels.

Potential area to look for reaction: At the 38.2 fib at 99.46 and 99.66 and 99.95 levels

Potential Profit take areas: At the 98.90 levels

MACDEE Divergence: No
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 98.90 levels.

Potential Profit take areas: At the 99.46 levels

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!

Notes:

Currently we are in no man’s land. Wait for price to come to you.

Correlation: Remember that the Dollar Index is negative correlated with the Euro Index  (They move in opposite direction) so only take one trade at a time as you will double your risk if you took trades on both index`s.

This pair is also POSITIVE CORRELATED (moving in the same direction) as the Dollar/CAD. Be careful; don’t take the same trades on both pairs at the same time!

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Please remember we are NOT a “tipping service.” What we aim to teach you here at fxmentorpro is how to look for trade set ups using different methods, taking you’re trading to the next level.

Have a good one mates

Pierre 😛

`Learn from yesterday, Live for today and hope for tomorrow`

Remember to make the video clip bigger to see the levels more clearly!

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