Senior Members Rock!!!

by | Oct 2, 2017 | Forex Analysis

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25Good morning everyone. Quick word of caution from Marc. be very careful this morning especially with gold & $/Sgp but on all $ pairs..

We have seen general $USA strength this morning, with many pairs already having done/are near to their daily ranges.

The more cautious approach is to wait until tomorrows live training session where we can assess the situation more clearly. Also Judith is going to close her Aud short before tonight’s RBA rate statement.

How you all doing?

First of all I would like to thank all the senior members that really helped out last week in the forum while I was in Cape Town with my mom.

You guy`s rock !!!

Thanks for helping the new members out……I mean Rob even made a video clip to answer a question someone had !!!

Now that is what I call commitment….Thanks Rob.

Well last week I spend most of my time in the passages of the hospital so this morning will be the first time in almost a week where I will re look in depth at the charts again.

I did manage however to pull 160 pips out of the market last week with a trade I already took 2 weeks ago.

I took a short position on the Euro/JPY on the 21st of September from the 134.00 level…..this trade kicked out last week for a 160 pips gain….stop was 80 pips at the time I took the trade.

So lets have a look at whats cooking in the Forex Kitchen this stunning Monday morning.

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This Weeks Live Training Session Webinar:

Please register for Forex Mentor Pro Live Training on Tuesday the 3rd of October 2017- 11:00 AM BST (London time)

https://attendee.gotowebinar.com/register/3558009018123362306

A live training session with Marc Walton, Judith Waker and myself.

The team will assess fundamentals, M2 Earth & Sky & the trigger system for potential trades. Followed by a Q & A session

After registering, you will receive a confirmation email containing information about joining the webinar.

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The Spaghetti Indicator:

The 4 hour chart :

The Spaghetti Indi is flat on all the pairs this morning.

4

The Daily chart :

The Spaghetti Indi is overbought on the USD and oversold on the CAD and AUSSIE currencies this morning.

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So let’s keep an eye on that for possible trade set ups from areas of interest (multiple reasons levels areas)

  • If you want to add the overbought and oversold areas to this Indi…..right click on the RS all Indi……then go to the RS All properties…….here we go to the levels tab…..then add the 8 and 13 and min 8 and min 13 line and click on OK.
  • Remember then to save a new template.

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1) Euro Dollar on the 4 hour chart:

*The main trend is still up, according to the direction Indicator…..however last week we broke a Dunny house full of EMA`S to the downside so while the 200 EMA at 1.1843 holds my bias will be to look for shorts for now.*

Currently I have an Earth and Sky short zone between 1.1831 and 1.1886 with areas to keep an eye on 1.1795 and 1.1824 and 1.1843 support areas where after I will re look to short this pair again.

Possible counter longs at 1.1707 support levels.

Notes:

We opened with a GAP this week on my platform so keep an eye on that as 90% of the time GAPS do close again.

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2) Euro JPY on the DAILY chart:

*Last week we closed min 114  pips lower than the opening but the trend is still up so we couldn’t fib the 4 hour for the zone – we had to fib the daily chart to get the long  zone.*

Currently I have an Earth and Sky long zone between 131.90 and 130.63 with areas to keep an eye on at the 38.2 fib at 132.51 and 131.90 and 131.26 and 130.74 support areas where after I will re look to long this pair again.

Possible counter shorts at 134.06 and 134.46 resistance levels.

Notes:

Looks like we currently finding support at the 55 EMA at 132.60 (38.2fib) so if this holds possible longs can set up from here.

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3) Euro GBP on the DAILY chart :

Notes:

Looks like we might be ranging between the 4 hour 200 EMA at 0.8963 and the dally 200 EMA at 0.8798 so possible trades from these levels if they hold………If the don’t look for possible M2 set ups then.

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 4) GBP Dollar on the DAILY chart:

*Last week we closed min 140 pips lower than the opening but the trend is still up so we couldn’t fib the 4 hour for the zone – we had to fib the daily chart to get the long  zone.*

Currently I have an Earth and Sky long zone between 1.3283 and 1.3094 with areas to keep an eye on at the monthly main pivot at 1.3322 and 1.3215 and 1.3161 support areas where after I will re look to long this pair again.

Possible counter shorts 1.3534 and 1.3670 resistance level.

Notes:

Wait for solid support and confirmation before you get into a trade.

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5) GBP JPY on the DAILY chart:

*Last week we closed min 127 pips lower than the opening but the trend is still up so we couldn’t fib the 4 hour for the zone – we had to fib the daily chart to get the long  zone.*

Currently I have an Earth and Sky long zone between 147.01 and 144.09 with areas to keep an eye on at the 38.2 fib at 148.39 and 146.43 and 145.79 support areas where after I will re look to long this pair again.

Possible counter shorts 151.98 and 153.00 resistance level.

Notes:

Possible roadblock at the 4 hour 55 EMA at 150.07 so keep an eye on that….However it’s in no man’s land for me.

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6) Aussie Dollar on the DAILY chart:

Notes:

We broke a big support area last week to the downside…….price currently sitting at the psychological level at 0.7800 but I will re look to short from the cluster EMA`s we have at 0.7903 and 0.7928 or for longs from the daily 200 EMA at 0.7729 where we also have a monthly pivot waiting to give support.

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7) Aussie JPY on the DAILY chart:

*Last week we closed min 130 pips lower than the opening but the trend is still up so we couldn’t fib the 4 hour for the zone – we had to fib the daily chart to get the long  zone.*

Currently I have an Earth and Sky long zone between  88.44 and 87.50 with areas to keep an eye on the 88.00 and 87.85 and 87.54 support areas where after I will look to long this pair.

Possible counter shorts at 89.01 and 89.99 and 90.48 resistance levels.

Notes:

While the 55 EMA at 87.54 holds my bias will be to look for longs.

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8) Dollar JPY on the 4 hour chart:

Currently I have an Earth and Sky long zone between  112.36 and 111.91 with areas to keep an eye on the 112.36 and 112.14 and 111.95 support areas where after I will look to long this pair.

Possible counter shorts at 113.31 and 113.55 and 114.00 resistance levels.

Notes:

We opened with a GAP this week on my platform so keep an eye on that as 90% of the time GAPS do close again.

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9) Dollar CAD on the DAILY chart:

*Last week we closed plus 132 pips higher than the opening but the trend is still down so we couldn’t fib the 4 hour for the zone – we also cant fib the daily chart as we already at last month’s high – so what now?*

Notes:

Looking at the daily we broke loads of EMA`s to the upside last week…..I will prefer if price can get to the MR1 pivot at 1.2629 where I will re look to short again.

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10) Dollar Index on the DAILY chart :

*Last week we closed plus 88 pips higher than the opening but the trend is still down so we couldn’t fib the 4 hour for the zone – we also cant fib the daily chart as we already went past last months high – so what now?*

Notes:

Looking at the daily we broke loads of EMA`s to the upside last week…..I will prefer if price can get to the MR1 pivot at 94.00 and 94.14 where I will re look to short again.

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I will be back tomorrow morning with a comprehensive Earth and Sky analysis and video clip.

Regards

Pierre

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