Good morning everyone.
I hope you all had a super looooong weekend and that you enjoyed it with your family.
Well with May day (International Workers Day) out of the way, let’s have a look at the charts this morning and see if we can spot potential trade set ups and Earth and Sky trading zones for the rest of the week.
RS All Indicator: (Spaghetti Indicator)
The spaghetti indicator is telling us this morning to keep an eye on the NZD,Aussie and the JPY currencies. The rest look a little flat for now.
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Let’s have a look at some notes:
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1) Euro/Dollar on the DAILY chart:
Difference between last week’s open/close: Plus 33 pips
GAP TRADING:
Did we open with a gap this week? No
Did the gap close? N/A
If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy”
Earth and Sky Trading Zone for the week:
Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.
Last week we only closed min 33 pips lower than the opening of last week so we are very flat…..that is why I fib the daily chart this morning to get the earth and sky long zone for the week ahead.
Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 1.0762 and 1.0667 levels
Potential area to look for reaction: At the 1.0807/1.0775 (38.2 fib area) and 1.0748 and 1.0736 levels.
Potential Profit take areas: At the 1.0847 and 1.0952 and 1.0966 levels.
MACDEE Divergence: No
Stochastic: Overbought
Counter Trades:
Potential Counter Trades: At the 1.0952 and 1.1049 levels.
Potential Profit take areas: At the 1.0847 and 1.0807 levels.
Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!
Notes:
Currently in no man’s land…..wait for price to come to your levels first before you take any trades.
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2) Euro/JPY on the 4 hour chart:
Difference between last week’s open/close: Plus 181 pips
GAP TRADING:
Did we open with a gap this week? No
Did the gap close? N/A
If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.
Earth and Sky Trading Zone for the week:
Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.
Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 120.67 and 119.79 levels
Potential area to look for reaction: At the 120.67 and 120.21 and 119.79 levels.
Potential Profit take areas: At the 122.64 levels.
MACDEE Divergence: YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Overbought
Counter Trades:
Potential Counter Trades: At the 122.64 and 123.00 levels.
Potential Profit take areas: At the 120.67
Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!
Notes:
If we look at the daily chart then we can see we have a big resistance level waiting at 123.00 level. We also have MACD divergence warning us that a potential correction is on its way.
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3) Euro/GBP on the 4 hour chart:
Difference between last week’s open/close: Min 44 pips
GAP TRADING:
Did we open with a gap this week? No
Did the gap close? N/A
If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.
Earth and Sky Trading Zone for the week:
Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.
Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 0.8468 and 0.8500 levels
Potential area to look for reaction: At the 0.8500 and 0.8507 and 0.8531 last week’s high area..
Potential Profit take areas: At the 0.8405 and 0.8381 levels.
MACDEE Divergence: No
Stochastic: No man’s land
Counter Trades:
Potential Counter Trades: At the 0.8405 and 0.8381 levels.
Potential Profit take areas: At the 0.8453 levels.
Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!
Notes:
I will be keeping an eye on the 55 EMA`S and 200 EMA to give resistance first before I will look to short this pair.
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4) GBP/Dollar on the 4 hour chart:
Difference between last week’s open/close: Plus 108 pips
GAP TRADING:
Did we open with a gap this week? No
Did the gap close? N/A
If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.
Earth and Sky Trading Zone for the week:
Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.
Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 1.2868 and 1.2819 levels
Potential area to look for reaction: At the 1.2833 and 1.2815 levels
Potential Profit take areas: At the 1.2365 and 1.2307 levels.
MACDEE Divergence: No
Stochastic: No man’s land.
Counter Trades:
Potential Counter Trades: At the 1.2965 and 1.3008 levels.
Potential Profit take areas: At the 1.2890 levels.
Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!
Notes:
If we don’t find solid support at the WS1 pivot, be careful as we might go visit the mother in laws at 1.2695 and 1.2634 areas.
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5) GBP/JPY on the 4 hour chart:
Difference between last week’s open/close: Plus 285 pips
GAP TRADING:
Did we open with a gap this week? No
Did the gap close? N/A
If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.
Earth and Sky Trading Zone for the week:
Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.
Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 142.33 and 141.20 levels
Potential area to look for reaction: At the 142.84 ( 38.2 fib) and 142.23 and 141.18 levels.
Potential Profit take areas: At the 144.61 and 145.62 levels
MACDEE Divergence: YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Overbought
Counter Trades:
Potential Counter Trades: At the 144.61 and 145.62 levels.
Potential Profit take areas: At the 142.84 levels.
Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!
Notes:
We have MACD divergence giving us a warning sign that there might be a correction on its way so take note.
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6) Aussie/Dollar on the 4 hour chart:
Difference between last week’s open/close: Min 74 pips.
GAP TRADING:
Did we open with a gap this week? No
Did the gap close? N/A
If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.
Earth and Sky Trading Zone for the week:
Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.
Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 0.7511 and 0.7547 levels
Potential area to look for reaction: At the 0.7543 and 0.7554 levels.
Potential Profit take areas: At the 0.7514 and 0.7502 and 0.7439 levels
MACDEE Divergence: No
Stochastic: Overbought
Counter Trades:
Potential Counter Trades: At the 0.7420 levels.
Potential Profit take areas: At the 0.7500 levels
Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!
Notes:
Currently that 200 EMA`S at 0.7543/54 will be key resistance for this pair this week.
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7) Aussie/JPY on the 4 hour chart:
Difference between last week’s open/close: Plus 17 pips
GAP TRADING:
Did we open with a gap this week? No
Did the gap close? N/A
If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.
Earth and Sky Trading Zone for the week:
Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.
Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 83.64 and 83.18 levels
Potential area to look for reaction: At the 83.85 (38.2 fib) and 83.79 and 83.69 levels.
Potential Profit take areas: At the 84.15 and 84.64 levels
MACDEE Divergence: No
Stochastic: Overbought
Counter Trades:
Potential Counter Trades: At the 84.64 levels.
Potential Profit take areas: At the 83.96 and 83.79 levels.
Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!
Notes:
I will be keeping an eye on the WR2 pivot for a counter short today.
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8) USD/JPY on the 4 hour chart:
Difference between last week’s open/close: Plus 125 pips
GAP TRADING:
Did we open with a gap this week? No
Did the gap close? N/A
If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.
Earth and Sky Trading Zone for the week:
Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.
Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 110.84 and 110.22 levels
Potential area to look for reaction: At the 111.14 (38.2 fib) and 110.97 and 110.81 levels.
Potential Profit take areas: At the 111.75 and 112.15 levels
MACDEE Divergence: YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Overbought
Counter Trades:
Potential Counter Trades: At the 112.15 levels.
Potential Profit take areas: At the 111.28 and 110.97 levels.
Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!
Notes:
We have MACD showing divergence so take note as it is a early warning sign that possible correction can be on the cards.
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9) USD/CAD on the 4 hour chart:
Difference between last week’s open/close: Plus 158 pips
GAP TRADING:
Did we open with a gap this week? No
Did the gap close? N/A
Earth and Sky Trading Zone for the week:
Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.
Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 1.3554 and 1.3482 levels
Potential area to look for reaction: At the 1.3588 (38.2 fib) levels.
Potential Profit take areas: At the 1.3697 and 1.3755 levels
MACDEE Divergence: YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Overbought
Counter Trades:
Potential Counter Trades: At the 1.3700 and 1.3755 levels.
Potential Profit take areas: At the 1.3583 levels.
Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!
Notes:
We have MACD showing divergence so take note as it is a early warning sign that possible correction can be on the cards.
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10) USD Index on the DAILY chart:
Difference between last week’s open/close: Min 2 pips
GAP TRADING:
Did we open with a gap this week? No
Did the gap close? N/A
If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.
Earth and Sky Trading Zone for the week:
Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.
Last week we only closed min 2 pips lower than last week’s opening, that is why I had to fib the daily chart this morning to get the earth and sky short zone.
Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 100.02 and 100.69 levels.
Potential area to look for reaction: At the 99.70 and 99.95 and 100.09 levels.
Potential Profit take areas: At the 98.68 and 97.97 levels.
MACDEE Divergence: No
Stochastic: Oversold
Counter Trades:
Potential Counter Trades: At the 98.68 and 97.97 levels.
Potential Profit take areas: At the 99.61 levels.
Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!
Notes:
Currently in no man’s land for me. I will prefer a correction to at least 99.70 first before I will re look to short this Index.
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That`s that. 🙂
Pop over to the forum if you need any help or have any questions !!!
Regards
Pierre
Make the video clip bigger to see the levels to see the levels more clearly !!!
