Great Technical Set Ups

Hi guys, in previous weeks the markets had gone to sleep and we saw many days with very little movement. Last week that all changed and suddenly we had explosive moves and profits. Not such good news for those who were trying to pick tops and bottoms, but for those trading with the trend and multiple reasons for stops it was a great week.

I hope you enjoyed a successful week with us just gone. We had multiple wins among members and mentors alike. As ever all trading ideas and plans were shared with members before the event.

This weeks Trading IdeasLet’s hope that the next couple of weeks continue in the same vein. We had an awesome 3 months over the summer period. Then the last few became messy with the combination of Trump, Covid, and the almost ended Brexit saga.

That is continuing to plague the Gbp. I was in a good trade last week, yet another negative Brexit comment and it dropped and took me out on the balance. Then, of course, it promptly rebounded and did the 200+ pips I had planned for.

As you will have seen over the weekend there has been even more negative press. Both sides are still unable to make a deal ….” the conditions for an agreement are not met, due to significant divergences on the level playing field, governance, and fisheries.”They have been stumbling over these 3 matters since the summer.

What the hell do they do in these meetings! How can you talk for days on end on 3 topics and not get near a deal? Its a nonsense and might still ruin all Gbp pairs in the run-up to Christmas.

Last week was a great week for all methods. If you struggled then watch our blog posts and take part here in the forum. Pierre’s Earth & Sky gave a textbook entry short on the Chf which dropped +200 pips. A couple of weeks ago one of my private students Ashley had his “best trade so far” with a whopping 257 pip win, on one pair, again shared in the forum.

Last week he quite rightly decided to stop for the week when he hit 236 pips in a week. He has only been with us since February and I didn’t have a week as good as that in my first 3 years trading forex! A special thank you to him for helping to run the forum.

Great Technical Set Ups

And in the last place was me with 100 pips (only half profit, but I am now semi-retired in my defence 🙂 on the Gbp which took me out on the balance:

100 Pips Up Then Brexit Strikes Again

& I took around 65 pips from the $/Yen short I shared in the live session and updated here on Friday:

Managing Winning Yen Trade & Correlation

Only 3 more weeks to go then hopefully we will never hear the “B2 word again!

There are a LOT of very good technical setups this weekend, but the Gbp & Euro will still be tricky because of the “B”

Then we can have a more detailed, up to the minute look at what’s happening and potential trades for the rest of the week.

This weeks Trading IdeasCrypto update: In the recent webinar I explained that one of the reasons for having money in crypto is to keep it away from governments as they will be looking at creative ways to steal your money to pay for the covid bailouts.

The US government famously confiscated citizens’ gold in 1933 to help pay for the great depression bailout and in the Eurozone, Cyprus stole money from citizens to help pay for the Greek fiasco in 2013.

This week it’s Argentinas turn, watch this space, as this is coming to a country near you in 2021, guaranteed!

Argentinas Tax on the Wealthy to pay for COVID 

This weeks Trading Ideas

Great Technical Set Ups

Forex

Last week I explained that if markets are slow then go down to a 4 hour chart and look at the structure and where the areas of support and resistance are. That was what alerted me to the $/Yen short as I showed in the video.

Aud/Nzd: Almost the same as last week: Its in a 300 pip daily down channel. I will scale into this, half of the entry at 1.0630 and the other at 106.60 with my stop above the 55ema and whole number.

Euro/Nzd: Last week’s long worked for around 200 pips. Most conservative trade is a short around 1.7450/1.7500.

Nzd/Chf: Still looking to long at 0.6210 for multiple reasons.

Gbp/Yen: If it shoots up swing traders will look to short at 142.30 area.

Regular pairs:

€uro/$: Makes no sense it making these highs and Brexit and this weeks bug Thursday events mean its safest to leave it alone. If you feel that you “must” trade it then 1.2000 is a key area to look at on a 4 hour chart, but not for me. If the Brexit deal falls through this could tank.

Chf: 0.9000 was huge support for a long time, so that should now become resistance so a short is an option. Watch it on a 4 hour chart as there are some reasons for the stop there.

Euro/Gbp: Brexit you are gambling not trading if you go near this!

Gbp/$: I would leave it alone as it is gambling but I said last week that “1.3300 is key in both directions. 

If it drops and its not a crazy Brexit-related spike then 1.3150 looks good for a long. If there is a really crazy Brexit spike down then watch 1.2900 as it will be the last line in the sand but this could drop to 1.2000 so I would not touch it!

$/Yen: Won last week, Same again: Private student Jonah pointed this one out last week which was a winner “Watch 104.50 on a 4 hour to short. I only want to short 105.90 is the “A” grade but it probably will not get there.

Cad: Made a significant move down and Fridays Canadian jobs figure was much better than expected so my bias is to short and 1.3000 is the key area. See the video on how to play this

Nzd: Stopped at the monthly 200ema as expected. Friday’s candle is a reversal one at the top of a decent move. I would not long it. Swing traders will be looking to short at the open. I prefer a pullback to long at 0.6810 for multiple reasons.

Aud: Has broken a weekly trendline and monthly 55ema so its a significant move, but the Chinese news still concerns me with the Aud. 0.7320 is the area to look to long. If it does a big drop then a long at 0.7010 is the place for me.

Aud/Yen: 75.00 to long and 78.00 to short

Euro/Yen I said last week that “if it breaks and closes on a daily above 125.20 then pulls back I will look to long it.”- same area for me.

Cad/Yen I said to watch at the open last week to long above 80.00 that is still the main area for me on this one. Also interested to short at 82.30. Don’t be in more than one Yen at a time.

Great Technical Set Ups

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 Technical Set Ups

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