Great January what to do next
Hi guys, if you have been following my blog, the live training sessions and video updates, you will see that I had a good January even though I only took a handful of trades.
You do not need to take loads of trades to be profitable. To use a fishing analogy; I only want to catch a big one!
I shared all of the trades with you in advance. Some of the best setups came from analysis from some of my private students and fellow members in the forum so get in there and take part!
January is often slow until after Martin Luther King Day which was on the 18th this year, so that makes the achievement even better 🙂
If you check out my blog you can see recordings of all the trades, the entries, targets, how I managed the trades. All trades were planned in advance and most were discussed in the live session BEFORE they happened, so try to attend or at the very least watch the recordings.
You can find all my previous posts in my blog history: Blog
If you want to trade for clients and receive a substantial profit share you only need to make 3 to 5% per month. You can find a copy of the brochure here: Trade for Clients
Great January what to do next
The Forex Week Ahead.
The biggest event of a busy week (scheduled news) is NFP US Jobs/Non Farm Payrolls) on Friday. We do not trade Fridays and especially never trade NFP as its forex at its silliest.
Once again I show in the video and last Tuesday’s live session that “If the price doesn’t pull back then look at 4 hour charts and even the M3.”
Many of the trades are the same as last week, some with minor adjustments.
€uro/$: same as last week: 1.2020 multiple reasons for a possible long. Intraday (worked again last week) 1.2070m but these are 4 hour much smañlñer moves so do not be greedy if you decide to take them. Intraday worked last week when I said “watch the current area on a 4 hour chart for a move back up”
Also, watch the Chf for confirmation if trading the 4 hour chart- see the video.
Chf: I rarely trade it but 0.9230 is worth watching for a short. The better area is all the way back up at 0.9590- it seems unlikely now, but you never know with forex. Finally 0.9000 is a big area, so watch there, but not a forward order.
Euro/Gbp: Same as last week: Lot of GBP news this week so avoid that but M2 break of a trendline is a short for me on a pull-back to 0.8930
Gbp/$: 1.3340 looks good for a possible long. If there is a bigger pullback then 1.3210 is the next. Considering splitting the trade in half, risk 50% at each. Intraday 1.3500 for possible bounce too. Do not trade any Gbp pair on Thursday morning.
$/Yen: I only want to short 106.80 is the area for me.
Cad: I suspect this may go on a run down over the coming months but for that I need to either catch it higher up or wait for price to break 1.2600 on a weekly . Explained in the video.
I will short half at 1.2940 and the other half at 1.2990. Also Possible swing trade around 1.2600 with monthly 200ema to tuck the stop behind. See the video.
Nzd: Possible longs at 0.7075. If that fails I would long again if it drops to 0.7000. New Zealand has virtually eradicated COVID. Fundamentally I am much more biased to the upside and possible much higher.
Aud: I explain in the video why I think the same thing may happen to the Aud BUT technically its not as attractive as the Nzd right now. 0.7350 long is the most conservative/strongest, but it may not get there. Another possibility is a long at 0.7550 and intraday 0.7640 – see the video.
Euro/Yen 125.00 is a long for me. Possible swing trade 127.70 see the video.
Cad/Yen 80.00/ 80.50 long. Possible swing trade 82.50.
Aud/Yen: Looking to long at 79.00 Possible swing trade 83.30 (intraday watch 80.00 as its a big area.
Euro/Aud: We have had a good run on this pair in recent weeks. (swing trade at 1.5600) near the bottom. That is an option once more or a short at 1.5900 BUT I am a bit wary placing a forward here at the open- see the video
Euro/Nzd: Worked last week for 130+ pips. Thanks to another of my private students, Jonah. He pointed out a great set up on the Euro/Nzd last week and I will short again if it hits 0.7030 (I split the order in two last week) see last Fridays video)
Nzd/Cad: Not one of my usual pairs but 0.9040 is an M2 long.
Great January what to do next
M3 Shorter timeframes
See the new course & recent blog posts as to how I do this: I do my analysis on daily and weekly charts first and make a note of the MAJOR areas of support and resistance. Then copy them on to Pierre’s Earth and sky template. Then I make a note of the weekly & monthly pivots points and add them to the charts. You will see lots of opportunities line up during the week. The important thing then is to select a bias for the next few days and do NOT take trades if the price is too near a trend line or pivot. Ideally, you want to buy when the price is near a major support and or pivot point line and has the potential to make at least 40 pips. Vice versa for a short.
New members, please note: If I am looking to take a trade long, 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.
For more up to the minute, updates do not forget to drop by the forum.
Watch the video for more detailed explanations of this week’s analysis and trade plan.
Great January what to do next
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