Hi, Pierre has posted his review of last week for those following his Earth & Sky strategy and you can find the link below.

This is my analysis that I deliver to members on a Sunday before the markets open.

I also did a short post and video on Thursday summarising the 400 + potential pips from using the combined M2 & Earth & Sky 30 minute entry.

In current markets, more than any time in the last 15 years+ that I have been trading forex, you either need to be flexible or walk away.

As ever, at the start of the week, we showed what we are looking to trade and why. In Tuesday’s live session I took that further and showed potential trade setups many of which fired on Wednesday.

You can find one of the posts here and its a great educational tool.

Over 400 Pips Of Winning Forex Trades

 

I have just a few potential trades that I will consider placing forward orders which I explain in detail in the video.

The others will be a mixture of my finding the “BIG areas that scream at me” on weekly and daily charts and then I will go down to 1 hour and 30 minute charts usings Pierres’ trend line/ribbon cross for entries. I also showed in last weeks live session how I “filter” these trades. For example, I prefer to trade with the trend wherever possible. I look on longer timeframes to see if there are any major trend lines, emas and or pivots that could spoil a trade. Remember, this is day trading. If we can catch a big trade great, but often price will move 30 or 40 pips intraday then reverse,

I explained in last weeks videos how to manage your expectations with these trades and to avoid being greedy!

The Forex Week Ahead

Scheduled news is generally being ignored of late as it has been historical. However new releases will now start to include the coronavirus’ impact and could move the markets. At the end of all of this there is going to be a huge bill to pay. How big and how governments are going to handle that will greatly influence currencies later in the year, assuming things settle down to some kind of normality.

Be extra careful with unscheduled news announcements, especially from Trump and his Twitter feed. He can cause wild swings in a heartbeat. Oh to be a fly on the wall in the Whitehouse. Anyone in the “know” will make a fortune. Trading oil? Trump tweets late the other Friday and it shoots up. Kerching for those who knew to buy! There are numerous other examples of late, you have been warned.

I show in the video those I am leaving for now on longer timeframes and why.

The Chf looks really tempting to short again just below 0.9800 so I will be looking for that to pullback further.

The Euro/$ at 1.1100

The Cad to long at 1.3400

Other than that these are “areas of interest” which I will be looking on the 30 minute charts for potential entries:

Gbp/$ 1.2800 and definitely 1.3000 to short

Aud/Yen short at 70.00

Cad Yen at 80.00

The Euro/Gbp is stuck like glue to 0.8700 (as I explained last week and why its best to wait). Hopefully, I kept you out of a non- event of a trade last week! This pair technically DOES look very interesting with a possible 800 pip move in either direction ONCE it breaks free. There is a daily head and shoulders pattern as well as a similar range triangle. Once that breaks we could/should see an explosive move. I will wait for a daily candle to close outside the current range tHEN look to trade it. see the video:

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 members should drop by the forum inside the members area. Mentors and successful members are happy to share tips and advice and answer any questions you may have.

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

 

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successful forex traders need to be flexible