Hi, here is an example of the detailed analysis I provide to members every week, before the markets open on Sunday evening.
I have been doing this forex mentoring for 10 years now,
I know of hardly any other educators who really trade and actually tell you in advance their plans!
in recent weeks and months I have cautioned about lack of movement and whole numbers.
Price on many pairs is hardly moving until news comes out, then “pops.”
Then, more often than not, stops at whole numbers.
It happened once more last week on quite a few pairs, many of which are range-bound.
The good news is that if you are new or struggling, it is easier than ever to calculate where price is “probably” going to bounce, both for entries and targets.
In Tuesday’s live training session I showed an almost textbook set up, for multiple reasons, to short the Aud.
It worked almost to the pip and the entry was explained in detail in last Sundays’ video and notes where I said “My bias is still short. It broke and closed below the major support of 0.6825 ln Thursday. I will short if it pulls back to there.”
Unfortunately, it also behaved as I cautioned, it only moved 45 pips for the rest of the week 🙁 – I am still in it both on my live account and the demo I use in the live session. See the video. I explained step by step, the multiple reasons. If you master this you will find entries to be a lot easier to spot.
Usually, I only leave a trade open over the weekend if its at least 80 pips in profit. I left it in (do as I say, not as I do- I have been doing this a lot longer than most of you!)! See the video for my reasoning.
So last week we found a decent trade/entry during the session, don’t miss out!
Please register for this week’s Forex Mentor Pro Live Training on
Tuesday’ 26th November at 11:00 AM BST (London Time)
Click on the following link to register now:
If you have a topic you would like us to discuss, please let me know in the comments below or via the helpdesk.
We show in real-time what we are looking to trade and are happy to analyse any setups you may have found.
A live training session with Pierre du Plessis & myself this week. We will assess fundamentals, M2 Earth & Sky & fundamentals for potential trades. Followed by a Q & A session.
After registering, you will receive a confirmation email containing information about joining the webinar.
If you miss it, you will find a recording here on the blog, later the same day.
The Forex Week Ahead
There is a lot of New Zealand red flag news this coming week. I show in the video which to avoid and where to look for possible trades AFTER the news events. Be especially careful if trading the Aud/Nzd around news as that often goes crazy, before falling back asleep.
As I do my analysis form weekly charts, some times like this week, a lot of my analysis is the same/I am still looking similar areas.
Euro/Aud: It worked 3 times on a daily entry last week, BUT stopped at? a whole number less than 100 pips away :(- same plan this week I said last week “I am still biased to long and will look to enter at 1.6100. If it moves higher, closes on a daily, THEN pulls back I will also be interested to long at 1.6200.” So 1.6100 is the first area.
Gbp/Aud: Correlated with the above so don’t take both at once, or halve the risk. The attraction of this pair is that it has a big daily range and thus we have movement. The downside is it can be a wild ride, so not for the faint-hearted!
It’s in an uptrend. An “A” grade long for me is at 1.8350 BUT 1.8550 has also been strong recent support and its the weekly 200ema, so intraday I am interested to long there too.
GBP/$: I just missed the short entry last week, same areas for entries: If it moves higher then I will look to short at 1.3000. If it drops then I will long at 1.2700
Euro/$: My bias is still to short, but its currently bouncing between 1.1000 major support area and 1.1100 which I caught last week.
Euro/Gbp: Going nowhere. Until it does something, anything, I am leaving it alone.
Aud: Worked last week, be careful around news, but if it pulls back up then my bias is still short at 0.6825 ln Thursday. If it moves higher, I still only want to short and 0.6900 is the next line in the sand.
Nzd: There is a lot of news this week including speeches- these could be dangerous!- Same as last week: if it continues upwards (or shoots up after news) I will short at 0.6500. I show in the video why for multiple reasons, including an intersection of a daily up channel and a weekly down. Also how to consider buying around 0.6350 using this pattern.
$/Yen: Tricky now. I am leaving it alone. There are better opportunities on other Yen pairs, see the video:
Cad: I have gone off this pair. It has been more erratic than usual this year but Pierre had a result with it last week “Pierre is interested to short if it shoots up to around 1.3320 .. so if you must trade it watch that closely.
If it drops then 1.3200 is key. Wait and see. If it clearly closes below there on a daily it will be of interest to short it.
Cad/Yen: Same again: I said last week “ 83.00 is HUGE on this pair….” and it still is. My bias is still only to short and 83.00 is the first place to look. If it breaks higher then the more conservative option is to look for a short at 85.00 for multiple reasons.
Aud/Nzd: I said last week “This could be a change in direction on this pair, but it tends to go to sleep after extreme moves” it was and it did! Too risky with this weeks news, unless it spikes- I show in the video.
Aud/Cad: Still interested to short at 0.9100 its a big area again.
Aud/yen: 75.30 is an A grade short for me,
Euro/Yen: 121.40 is an A grade short for me, intraday watch 121.00. Do not be in more than one Yen trade at a time. If you are, reduce the risk per trade. ie if you take 2 trades then half your usual stake on each.
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 in Pierre’s corner.
Watch the video for more detailed explanations of this week’s detailed analysis and trade plan.
Click on the square button bottom right to watch in full-screen mode