Earth and Sky Analysis for the week ahead !!

by | Sep 21, 2017 | Forex Analysis

reduce spread

Good morning everyone.

Whats up and whats down this stunning Tuesday morning?

Joke for the morning….. 🙂

Millionaire

A woman proudly told her friend, “I’m responsible for making my husband a millionaire.” “Well what was he before he married you?” the friend asked. “A billionaire.”

Well lets have a look:

 

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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 website 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!!! 👿

Calendar for the week:

  • Tue 19th: AUD Monetary Policy Meeting Minutes. USD Building Permits. NZD GDT Price Index.
  • Wed 20th: JPY Trade Balance. GBP Retail Sales. USD Crude Oil Inventories &FOMC & Press Conference.
  • Thurs 21st: NZD GDP. JPY  BoJ Monetary Policy Statement& Press Conference. USD Weekly Unemployment Claims & Philly Fed Manufacturing Index.
  • Fri 22nd: EUR lots of PMIs. CAD CPI & Retail Sales. USD Flash Manufacturing & Services PMI.
  • Sat 23rd: NZD Parliamentary Elections.

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2) Where is the `Forum Hangout 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 & Current weekly trades ` and click on it………Once in there look for `Pierre`s Earth and Sky System Trading week` and click on it……..once in there, look for the `Current week`s Thread` Tab and click on it………..easy as pips! 😉

🙁 Or if you lazy 🙁 ……….Just click on it

https://forexmentorpro.com/forum/index.php?threads/trading-week-17-to-22-september-2017.994/#post-21695

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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` method, please make sure you download your free e-book.

Go to the `Forex 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 and some Indi`s I use.

https://www.forexmentorpro.com/members-area/earth-and-sky-system/

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

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I will be keeping an eye on the following pairs as they look the most promising for the week.

POSSIBLE COUNTER TRADES: 

  1. Euro/JPY short from 133.90 134.45 or 135.02
  2. Euro/GBP long from the daily 200 EMA at 0.8800
  3. GBP/Dollar short from 1.3621 1.3700 and 1.3747
  4. Aussie/JPY short from 89.34 and 89.73
  5. USD/JPY short from 112.00 and 112.25

POSSIBLE EARTH AND SKY TRADES: 

  1. USD/CAD short from the 38.2 fib at 1.2337 and 1.2420 and 1.2500
  2. Aussie/NZD long from the monthly main pivot at 1.0931 and the 55 EMA at 1.0884
  3. Gold long from the Daily 200 EMA at 1304.80 and 1300.36 and 1295.60

We have more potential Earth and Sky setups this week but we are too far out from the zone`s at the moment so I will re look in the week and do an update for you.

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🙁 My Camtasia Program that I use to make the video clips – hanging again this morning so as soon as we have the webinar recording available I will re post a copy of it here 🙁

But for now……I have attached some charts:

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1) Euro Dollar on the DAILY chart:

*Last week we closed min 72 pips lower than the opening but the trend is still up so we couldn’t fib the 4 hour for the zone – we had to fib the daily chart to get the Earth and Sky  long  zone.*

Currently I have an Earth and Sky long zone between 1.1877 and 1.1770 with areas to keep an eye on 1.1852 and 1.1793 support areas where after I will re look to long this pair again.

Possible counter shorts at 1.2092 resistance levels.

Notes:

Currently in no mans land so wait for price to come to you.

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2) Euro JPY on the 4 hour chart:

Currently I have an Earth and Sky long zone between 132.06 and 131.03 with areas to keep an eye on at the 38.2 fib at 132.55 and 131.97 and 131.70 support areas where after I will re look to long this pair again.

Possible counter shorts at 133.90 134.35 and 135.02 resistance levels.

Notes:

If we make new highs follow price with the fib so that the Earth and Sky long zone can adjust.

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3) Euro GBP on the 4 hour chart :

Currently I have an Earth and Sky short zone between 0.8948 and 0.9035 with areas to keep an eye on at the 0.8948 and 0.8968 and 0.9018 resistance areas where after I will re look to short this pair again.

Possible counter longs at 0.8800 support levels.

Notes:

Yesterday we found support at the daily 200 EMA and had a bullish move. This 200 EMA at 0.8800 will be key support this week.

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 4) GBP Dollar on the 4 hour chart:

Currently I have an Earth and Sky long zone between 1.3389 and 1.3273 with areas to keep an eye on at the 38.2 fib at 1.3444 and 1.3388 and 1.3322 and 1.3295 support areas where after I will re look to long this pair again.

Possible counter shorts 1.3621 and 1.3747 resistance level.

Notes:

Currently in no mans land so wait for price to come to you.

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5) GBP JPY on the 4 hour chart:

Currently I have an Earth and Sky long zone between 147.13 and 144.91 with areas to keep an eye on at the 38.2 fib at 148.18 and 147.13 and 145.90 support areas where after I will re look to long this pair again.

Possible counter shorts 152.00 and 153.00 and 153.87 resistance level.

Notes:

We had a 802 pip bullish move last week so surely this one must be in for a correction. We have MACD divergence plus stochastic is overbought.

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6) Aussie Dollar on the DAILY chart:

*Last week we closed min 51 pips lower than the opening but the trend is still up so we couldn’t fib the 4 hour for the zone – we had to fib the daily chart to get the long  zone.*

Currently I have an Earth and Sky long zone between  0.7968 and 0.7889 with areas to keep an eye on the 0.7947 and 0.7912 support areas where after I will look to long this pair.

Possible counter shorts at 0.8050 and 0.8105 resistance levels.

Notes:

While the 55 EMA at 0.7913 hold  – my bias will be to look for longs.

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7) Aussie JPY on the 4 hour chart:

Currently I have an Earth and Sky long zone between  88.22 and 87.66 with areas to keep an eye on the 88.19 and 88.00 support areas where after I will look to long this pair.

Possible counter shorts at 89.34 and 89.73 resistance levels.

Notes:

We also have MACD divergence showing on the 4 hour chart so possible correction on its way.

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8) Dollar JPY on the 4 hour chart:

Currently I have an Earth and Sky long zone between  110.01 and 109.9 with areas to keep an eye on the 38.2 fib at 110.45 and 110.24 and 110.03 support areas where after I will look to long this pair.

Possible counter shorts at 112.00 and 112.25 resistance levels.

Notes:

We opened with a GAP this yesterday and we know 90% of the time GAPS to close. We also have MACD divergence showing on the 4 hour chart so possible correction on its way.

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9) Dollar CAD on the DAILY chart:

*Last week we closed plus 41 pips higher than the opening but the trend is still down so we couldn’t fib the 4 hour for the zone – we had to fib the daily chart to get the short zone.*

Currently I have an Earth and Sky short zone between  1.2422 and 1.2602 with areas to keep an eye on at the 38.2 fib at 1.2352 and 1.2420 and 1.2501 resistance areas where after I will look to short this pair.

Possible counter longs at 1.2063 and 1.2016 support levels.

Notes:

First roadblock for this pair at the 38.2 fib and MS1 pivot ( now resistance) at 1.2352.

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10) Dollar Index on the DAILY chart :

*Last week we closed plus 42 pips higher than the opening but the trend is still down so we couldn’t fib the 4 hour for the zone – we had to fib the daily chart to get the short zone.*

Currently I have an Earth and Sky short zone between 92.56 and 93.34 with areas to keep an eye on at the 92.56 and 92.77 and 93.17 resistance areas where after I will re look to short this index again.

Possible counter longs at 91.31 and 91.00 support levels

Notes:

Possible roadblock at the 55 EMA at 92.01 this week but I will prefer a bigger correction.

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11) Aussie/NZD on the DAILY chart :

*Last week we closed min 151 pips lower than the opening but the trend is still up so we couldn’t fib the 4 hour for the zone – we had to fib the daily chart to get the long zone.*

Currently I have an Earth and Sky long zone between 1.0897 and 1.0774 with areas to keep an eye on at the 1.0931 and 1.0884 support areas where after I will re look to long this pair again.

Possible counter shorts at 1.1085 and 1.1144 and 1.1201 resistance levels

Notes:

While the 55 EMA at 1.0885 holds my bias will be to look for longs. If it breaks to the downside be careful as we can drop to the daily 200 EMA at 1.0729 area.

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12) Gold:

*Last week we closed min 214 pips lower than the opening but the trend is still up so we couldn’t fib the 4 hour for the zone – we had to fib the daily chart to get the Earth and Sky  long  zone.*

Currently I have an Earth and Sky long zone between 1305.60 and 1279.70 with areas to keep an eye on 1300.36 and 1295.60 and 1286.40 support areas where after I will re look to long this again.

Possible counter shorts at 1347.83 and 1356.66 resistance levels.

Notes:

While the 55 EMA at 1295.60 holds my bias will be to look for longs.

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See you all later during the webinar !!

Regards

Pierre

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