Live: Trading Ranges & Realistic Expectations

by Marc Walton | Apr 28, 2021 | Forex Articles

Great Way to Manage & Maximise Your Trades

Hi, I reviewed all the potential setups for both our M2 & Earth & SKy strategies. I also showed how to trade when price is ranging.

As per my blog post on Sunday, we are still seeing limited moves, so we need to be realistic in our expectations. Do not be greedy as the price on most pairs is simply rotating.

I have moved my stop to entry on the USDCHF that I showed in the session to lock in 40 pips, but that one looks as though it may not go any further either!

M3 Shorter timeframes

See the (non-members will have to sign up to view course) 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.

Here is the recording of today’s live session, check it out now.

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