Hi, last week was a very successful one, all from a few pre-planned trades from my analysis from last Sunday.

Then on Tuesday in the live session someone reminded me about upcoming NZD news. I cancelled the Gbp/Nzd trade, thankfully as the news would have killed it. I then took the Gbp/Aud instead. The balance of which is now +200 pips and could go another 150 🙂

The Euro/Nzd second part is also +200 pips you can see both in todays video.

In Fridays short video I showed how I had managed the trades. I took most of the profit and left the balance to run. Here is the link to the post and video:

https://www.forexmentorpro.com/members-area/a-few-trades-monthly-target/

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The Forex Week Ahead

Its a bank holiday in the USA & Uk on Monday which probably means it will be a very slow day so the best advice is to leave it alone. Then it is NFP on Friday which we never trade so it’s either a very short week or a holiday 🙂

Make sure to check into the forum and Tuesdays live training session there were some great trade setups shared in both places last week again.

As I trade from weekly charts many of the levels are the same or very similar to last week BUT they gave over 400 pips so no reason to change.

€uro/$: $1.2000 is a huge area. However it may not get there, if so watch 1.2050 intraday but there is not a great place for a stop, but if you are trading smaller timeframes look for clues there.

Chf: No risk reward current position, I need a pullback looking to short at 0.9150

Euro/Gbp: MIssed my short entry by 4 pips last week, then dropped 84 🙁 Looking to short again, this week at 0.8660

Gbp/$: I only want to long 1.4000 is the 1st place.

$/Yen: 108.30 is a key area to consider a long.

Cad: Hopefully I kept you out of a losing short yet againlast week. I explained there was a multi year support area and the price would more likely bounce off it than not. We trade probability! We have been shorting this successfully for over a year. Needs a big pullback to short. First place to consider is 1.2350.

There are a lot of Cad crosses lining up BUT dont forget correlation: Correlation

Euro/Cad 1.4960 is where I will look to short again. Intraday watch 1.4870

Gbp/Cad: Looking to short at 1.7190 (split entry- see the video).

Nzd: My bias is still to long 0.7200

Aud: Too much news & Its been messy for weeks and limited moves. Leaving alone.

Euro/Yen 131.30 is technically the spot to take a long.

Gbp/Yen. Not one of my pairs, 152.50… is the place to consider a long.

Nzd/Yen: 78.00 is 1st place to consider a long.

Euro/Nzd: worked again last week: “This one has more reasons for the stop so I will short if it pulls back to 1.6950″ – Intraday watch 1.6800 on smaller timeframes.

Euro/Nzd: 

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 on to 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.

Watch the video for more detailed explanations of this week’s analysis and trade plan.

 

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