Hi, in todays analysis I show you trades from weekly with potential 800+ pip moves, daily with 350 pips and 4 hour too!
I prefer to trade from longer time frames, weekly & daily wherever possible.
My goal is to make as much money as possible from the minimum amount of screen time & fewest amount of trades.
However many of you like to trade intra day, so today I will show you potential trades for multiple time frames, including a classic “head & shoulders” pattern set up that could give 350 pips in the coming days!
I also show once again why risk reward is key for making money as a trader.
Its not so relevant how many trades you win, its far more important how MUCH you win per trade. Rookie retail traders focus too much on how many and get upset by a loss, but as long as you get the risk reward ratio right (winning at least twice what you risk) then losing 50% of the time still makes you profitable!
Aud/Yen: Has given almost 2000 pips from 2 trades in the last 6 months. I am looking for another potential 800 pip move a short at 85.50
Nzd: Messy on weekly chart BUT we have just had an M2 trade on the daily. I am interested to short at 0.6820. If it fails and breaks higher I will revise my bias and start to look for longs after a break above 0.6900
$/SGBP: Major triangle break out so looking to long at 1.3550. Intra-day I am looking to short at 1.3740
Aud : Weekly major triangle break. More conservative entry is a short at 0.7550
Euro/$ Too messy now. Only looking to short, 1.1690 best place for me
Euro/Gbp: Potential 350 pip head & shoulders pattern explained in the video. Those trading shorter time frames: 0.7930/50 has been major previous resistance, so look there for clues to short.
Gbp/Nzd: 2.1220 is key area for long or short, see video
New members please note: If I am looking to take a trade long, at 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.