This is a copy of this week’s forex trading plan for those following The Earth & Sky forex strategy.

It is released in advance to members on a Tuesday morning.

Pro trader Pierre du Plessis shares his trade ideas and plans for the week ahead:

Earth & Sky Forex Trading Plan

Good morning all

What’s up and down this morning ?

Well looking at the news schedule for this week we need to be careful as we have the FOMC rates and conference later today.

Tomorrow is potentially even more explosive as Marc explained on Sunday: https://www.forexmentorpro.com/blog/forex-analysis-coming-up-all-about-the-gbp/

It is the Bank of England’s monetary policy statement and press conference tomorrow that could be a BIG market mover, so be careful!

Forex calendar image is from Forex Factory: https://www.forexfactory.com/calendar.php

Earth & Sky Forex Trading Plan

The *clean* charts with clear Earth and Sky zones that stands out for me still this morning will have to be…..

Euro Basket: 

  • Euro/Dollar………….SHORT
  • Euro/JPY……………….SHORT
  • Euro/GBP……………..SHORT

Aussie Basket:

  • Aussie/Dollar………..SHORT
  • Aussie/JPY…………….SHORT

USD Basket: 

  • USD/CAD………………SHORT
  • USD/CHF………………SHORT

I will give the above pairs priority for now…..and look for the trade setups.

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Earth & Sky Forex Trading Plan

Reminder: 

Please use the weekly forum thread to post any charts/pairs you might be looking at to trade for the week ahead (Earth and Sky method or your own combination of our methods or even your own) or if you have any questions trading related, please post them.

I will answer questions or look at your charts and give my opinion – – – so dont be shy…….. ;)

I will also be posting the pairs and charts I have on my radar as we hit the zones……..so keep an eye on the forum.

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Envelope Indicator:

For those of you that want to use the envelope indicator for confirmation – you can download it at….

http://forexmentorpro.com/dl/TrendEnvelopes_v1.ex4

Mine is set to the default settings in the input tab BUT only to show on the 30 and 60 min charts in the Visualization tab.

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What’s cooking in the Forex kitchen this morning ?

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1) Euro Dollar on the 4 hour chart:

Direction Indicator: Short on the 4 hour BUT mixed on the daily chart….so I will fib the 4 hour for a short zone as the main trend is still short.

Currently, I have an Earth and Sky short zone between 1.1064 and 1.1091 with resistance areas to keep an eye on the 38.2 fib at 1.1053 (38.2 fib) and 1.1064 and 1.1072 and 1.1086 areas.

I will re-look to short this pair if we find confirmation to short from any of the above levels.

Possible counter longs at 1.0988 support areas.

Notes:

If we make new lower lows without the correction we wanted….follow price with your fib to get the adjusted short zone for the week.

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2) Euro JPY on the 4 hour chart:

Direction Indicator: Short on the 4 hour BUT mixed on the daily chart…..so I will fib the 4 hour for a short zone as the main trend is still short.

Currently, I have an Earth and Sky short zone between 121.15 and 121.75 with resistance areas to keep an eye on the 38.2 fib at 120.84 and 121.13 and 121.44 areas.

I will re-look to short this pair if we find confirmation to short from any of the above levels.

Possible counter long at 119.72 support areas.

Notes:

If we make new lower lows without the correction we wanted….follow price with your fib to get the adjusted short zone for the week.

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3) Euro GBP on the 4 hour chart :

Direction Indicator: Short on both time frames so I will fib the 4 hour chart for the short zone.

Currently, I have an Earth and Sky short zone between 0.8469 and 0.8511 with resistance areas to keep an eye on the 38.2 fib at 0.8450 and 0.8471 and 0.8478 and 0.8500 areas.

I will re-look to short this pair if we find confirmation to short from any of the above levels.

Possible counter long at 0.8347 support areas.

Notes:

If we make new lower lows without the correction we wanted….follow price with your fib to get the adjusted short zone for the week.

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4) GBP Dollar on the 4 hour chart:

Direction Indicator: Mixed on the 4 hour and long on the daily.

Warning…..

Yesterday the 4 hour was still long too but changed this morning.

Currently, I have an Earth and Sky long zone between 1.3067 and 1.3014 with support areas to keep an eye on the 1.3053 and 1.3044 areas.

Possible counter long at1.3172 resistance areas.

Notes:

Be careful….if the support at 1.3053 and the 62.5 fib at 1.3041 breaks to the downside – we can drop down to the daily 55 EMA at 1.3000 where I will re look to long if we have confirmation as the main trend is still long.

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5) GBP JPY on the DAILY chart:

Direction Indicator: Short on 4 hour BUT long on the daily.

Notes:

Leaving alone for now…..looks like we trapped in a triangle

If we break to the downside then we can drop to the MS1 pivot at 140.45 and 139.62 area where I will re look to long from again if we find good solid support followed by confirmation to long.

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6) Aussie Dollar on the 4 hour chart:

Direction Indicator: Short on 4 hour BUT mixed on the daily chart so I will fib the 4 hour chart for a short zone as the main trend is still short.

Currently, I have an Earth and Sky short zone between 0.6818 and 0.6853 with resistance areas to keep an eye on the 38.2 fib at 0.6800 and 0.6818 and 0.6842.

I will re-look to short this pair if we find confirmation to short from any of the above levels.

Possible counter long at 0.6747 and 0.6723 support areas.

Notes:

If we make new lower lows without the correction we wanted….follow price with your fib to get the adjusted short zone for the week.

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7) Aussie JPY on the 4 hour chart:

Direction Indicator: Short on the 4 hour BUT mixed on the daily so I will fib the 4 hour  chart for a short zone as the main trend is still short.

Currently, I have an Earth and Sky short zone between 74.65 and 75.27 with resistance areas to keep an eye on the 38.2 fib at 74.36 and 74.65 and 74.86 and 75.00

I will re-look to short this pair if we find confirmation to short from any of the above levels.

Possible counter long at 73.47 support areas.

Notes:

If we make new lower lows without the correction we wanted….follow price with your fib to get the adjusted short zone for the week.  

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8) Dollar JPY on the Daily chart:

Direction Indicator: Short on the 4 hour BUT long on the daily so I can will fib the daily chart for a long as the main trend is still long.

However……..

Notes:

Sitting on my hands for a little……price found support at the 108.88 level where we also have a daily 200 EMA waiting – so if it holds a long can set up.

We also have a GAP this week…..that need to close…..

If we break the support….be careful as we can drop to the MS1 pivot at 108.07 again.

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9) Dollar CAD on the Daily chart

Direction Indicator: Long on the 4 hour BUT still short on the daily so I will fib the daily chart for a short zone as the main trend is still short.

Currently, I have an Earth and Sky short zone between 1.3135 to 1.3228 with resistance areas to keep an eye on the 1.3192 and 1.3217.

I will re-look to short this pair if we find confirmation to short from any of the above levels.

Possible counter longs at 1.2951 support areas.

Notes:

Resistance coming up at the daily 200 EMA and MR1 pivot….so price needs to slow down here….then give confirmation for a short.

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10) Dollar CHF on the Daily chart:

Direction Indicator: Mixed on 4 hour BUT still short on the daily time frame so I will fib the daily chart for a zone as the main trend is still short.

Currently, I have an Earth and Sky short zone between 0.9810 and 0.9909 with resistance areas to keep an eye on the 38.2 fib at 0.9772 and 0.9810 and 0.9860.

I will re-look to short this pair if we find confirmation to short from any of the above levels.

Possible counter longs at 0.9610 and 0.9600 support areas.

Notes:

First roadblock area coming up at 0.9772 at the 38.2 fib where we also have loads of EMA`s waiting to give resistance.

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See you later today during the webinar.

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 in Pierre’s corner.

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

Regards

Pierre

Earth & Sky Forex Trading Plan