Live Session, Scaling In to Trades, Fibs & Trade Ideas

by Marc Walton | Sep 18, 2020 | Forex Analysis

Hi, this is a recording from this weeks live training session.

I showed potential trade setups on all 3 of our strategies.

As ever I use a “top-down” approach (whats is happening on the longer timeframes/news) even when trading on 30-minute charts.

At the start of the session I also answered questions submitted by members who were struggling with the following:

Fibs and where to place them

Scaling into trades and what to do about the stops, same place or different?

B grade trades- when to enter. This is particularly relevant this week with Fed news Wednesday evening Uk time, then Nzd a few hours later, then Aud a couple of hours more- see the video on how to play it.

If you have a topic you would like me to cover in next weeks session, please submit a ticket via the help-desk,

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 detailed analysis and trade plan.

regards

Marc

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