Hi, the Chf short worked for 200 pips profit again last week, from pre-planned analysis on a weekly chart.
This is a copy of the type of analysis and trade plan I shared with members every Sunday over the last 11 years.
I explain in advance what I intend to trade and why using the systems we teach.
The Aud/Yen also gave a weekly entry that went 130 pips, SO the longer time frame setups are working, but there are not so many of them setting up right now.
Having said that, if you can gain 200 pips in a week from 1 trade and walk away who cares!
The M2 / Earth & SKy combined strategy is also working well, although its a lot more hands-on and time-consuming.
The Week Ahead
I recorded the video on Saturday. If anything extraordinary, including a Trump rant on Twitter changes everything then I might need to re-evaluate, if so I will update you in the live training session.
MACD Divergence Everywhere
We haven’t seen much of this setup of late, but last week we saw the pattern form on a lot of the indices and forex pairs.
I show in the video how this gives a clue as to future direction/ or a reversal.
As with all indicators, you can not use it in isolation BUT see the video for how “spookily accurate” it often is.
Here is a link to register for this weeks live training session which takes place on Tuesday 5th May 2020 at 11.00am London time (BST/GMT+1).
Then we can have a more detailed, up to the minute look at what’s happening and potential trades for the rest of the week.
I show in the video those I am leaving for now on longer timeframes and why.
Gbp/$ my bias is short. I will look for entries on the 30-minute charts, its a lot more difficult on longer time frames so no forward orders for me. The following are “areas of interest” on shorter time frames: 1.2500, 1.2700, 1.2800 and definitely 1.3000 to short
The Chf worked yet again last week for 200 pips. I will short again just below 0.9800 so I will be looking for that to pull back again.
The Euro/$ I only want to short, an A grade for me is at 1.1100. Consider Earth & Sky and 30 minute to trade it, firstly from 1.1000.
Euro/Gbp: long at 0.8700/8720
Cad: Currently range-bound between 1.3850 and 1.4250 see the video on how to play it.
Aud is messy now, see the video for possibilities.
Be careful with all Yens, but if we see crazy spikes, look for the BIG areas where the price will probably run out of steam:
$/Yen: If it shoots back up to 109.00 I will short. If it drops from the current position I will look for an M2 short on a pullback.
Aud/Yen worked last week for 130 pip drop. I will short at 70.00
Cad Yen I am looking to short at 80.00
Euro/Yen: Not my favourite pair but 120.00 is huge on this pair so I will short if it shoots up to there
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 detailed analysis and trade plan.
Click on the square button bottom right to watch in full-screen mode
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