On behalf of Larry’s family and myself I would like to say thank you for the 100’s of emails we have received regarding Larry’s sudden death at the age of 50.
This comment from long term member, Rune in Australia is typical of
So sorry to hear that Larry has passed away. He was always very helpful and friendly. My condolences to you and Larry’s family.”
The markets and trading for the week ahead.
Those who caught the Euro short form a couple of weeks ago, and stayed in are now +350 pips. I do expect the euro to continue to drop, but where to get in? see the video for my plans
The CHF, as per my plan last week, made 100 pips and stopped where I expected and I know some of the guys in the forum caught it, well done.
The GBP data on the other hand was more positive last week, so that may not drop or certainly not as fast.
I am a technical trader BUT with forex pay attention to fundamentals, i.e what is happening in a country that can affect its economy. At the moment Large parts of Europe look as though they may be about to go back into lockdown which clearly will not be good for their economies. Austria has already imposed one, and rather ominously is now intending to force all of its citizens to be vaccinated.
Germany’s cases are rising rapidly and if they go back into lockdown that will have serious repercussions for the Euro, as it is the economic powerhouse of the region.
Here is a link to an article on the subject:
Trade for clients & receive a substantial profit share
If you want to 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
The live training session: Here is a link to register for this week’s live training session which takes place on Tuesday 23 November at 11.00am London time (BST/GMT+1).
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.
EUR/USD: I’d be looking to short at around 1.1580 if it gets there. – fundamentally the EUR is not looking good and I’m expecting a bigger drop.
GBP/USD: I’d start looking for a short at 1.3600. I’ll go down to the 4 hour again to see whether there are better entries.
AUD/USD: Still needs to make its mind up. Either a break higher, or break lower. I’m in no rush with this one.
NZD/USD: News will drive this pair this week. Wait for the NZD news to finish before trading it this week. Also, remember that it’s Thanksgiving in the US on Thursday.
USD/JPY: “A” grade for me is still 110.30 to long. You could watch 112.76 on the 4H chart for additional long entries.
USD/CAD: Fundamentally it could be on for a run up, but too messy for me as its stuck between ema’s. It needs a bigger break up and then the pull back.
USD/CHF: Worked last week. I’d be looking to long at 0.9192 again.
AUD/NZD: Looking for price to pull back to 1.0600 to short (be careful with the NZD red flag news this week).
EUR/GBP: Stay patient with this pair. 0.8630 is a forward order entry for me. 0.8470 looks interesting on the smaller time frames as well.
EUR/NZD: 1.6900 is the conservative entry.
GBP/CAD: Patiently waiting with this one. I am looking to short at 1.7170 for multiple reasons.
EUR/JPY: News will drive this pair this week. Be careful.
AUD/JPY: Needs a big pull back. 81.20 is the “A” grade long for me.
EUR/CAD: No reasons for the stop on a daily. I’m going to look at the 4H chart for better entries. (See video)
GBP/AUD: Interesting from its current position at 1.8580 (See video)
AUD/CAD: Area to watch for a short is 0.9240
CAD/JPY: Needs a big pull back before I look to long at 87.00
As always, remember correlation!
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 onto 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. Ashley is back from his travels and there are other senior members who are happy to help.
Watch the video below for more detailed explanations of this week’s analysis and trade plan:
The first 10 minutes I discuss the fundamental aspect of what is going on around the world, this is something you need to pay attention to, however if you just wish to see my trading ideas, they start around 10 minutes into the video.