I had a frustrating week like Ashley, had many power cutouts, and in the process missed a trade that went on to do 100+ pips. I have shown this in my last blog post which you can find below.
Ashley also shared how he missed the EURCAD which he had put a forward order on by 13 pips! It then went on to do 120 pips!
You can find that post below Missed 120 pips on EURCAD
This week will be one of the biggest tests for all the currencies before the year ends. We have plenty of news which makes it very tough to hold on to trades as the news could ruin your setup. Taking profits along the way or closing the trade when you have made your profit target could be the smart decision if you decide to trade this week.
+++++++++++++++++++++++++++++
Trade for clients & receive a substantial profit share
If you want to receive a substantial profit share you only need to make 3 to 5% per month. You can find a copy of the brochure here: Trade for Clients
The Forex Week Ahead
There is plenty of news this week so the first thing would be to have a plan before you place a trade. Make sure you are trading around the news and manage your trades when the news comes out. We could say that every day is an important day for one currency or the other so we would need to ensure to play it safe or just don’t trade that currency until the news is out.
In the video, I have shown you a lot of technical setups for the week ahead. But this could change with the news events.
++++++++++++++
MAJORS
My fundamental bias is still $ strength versus all majors. As ever keep watching the $ index for clues.
Remember I am looking for “A” grade trades from weekly & daily charts that I can place the orders and then just walk away.
EUR/USD: It is stuck at a trendline. The issue is I have nowhere for the stop. But the 4HR 1.0400 is very interesting for a long.
USD/CHF: Leaving it alone as it’s messy.
GBP/USD: Same scenario as the EURUSD. I would prefer a long at 1.21150 on the 4HR.
AUD/USD: Not interested but 0.66090 is an area to watch for long.
NZDUSD: not interesting at the moment but still far away from the EMAS.
USD/CAD: Looking to long around 1.3050, still miles away.
CROSSES
EURGBP: Very messy leaving it alone.
EURCAD: Stopped at the 200MA, but not enough reasons for the stop to short. Much more interesting to long at 1.3830 which is the sweet spot.
EURNZD: Missed it by a few pips this week and went on to do 100+ pips. I would short again at 1.66260.
EUR/AUD: 1.52700 is interesting for a long as we have multiple reasons. You could do a split entry and have one order at 1.53000.
GBPNZD: Interesting to short at 1.94 and 1.95 regions. Remember the GBP news.
AUDCAD: Interesting to long at 0.90260 on the Daily.
AUD/NZD: I don’t like this pair. my private client has pointed out 1.0760 for a short which is interesting.
GBP/CAD: 1.61270 is interesting for a long.
CAD/CHF another one a member asked me to look at 0.7350 is the start of the zone.
EURCHF: A pair I don’t trade but one of my private clients pointed out that it is approaching the parity region. It looks interesting to short there at 0.99650.
As always, remember correlation!
We are NOT a “tipping service” our aim is to teach you how to trade for yourself.
Watch the video below for more detailed explanations of this week’s analysis and trade plan (click the 4 arrows bottom right to view full-screen):
None of the Forex Mentor Pro team nor its owners (expressly including but not limited to Marc Walton), officers, directors, employees, subsidiaries, affiliates, licensors, service providers, content providers and agents (all collectively hereinafter referred to as “Forex Mentor Pro ”) are financial advisers and nothing contained herein is intended to be or to be construed as financial advice
Forex Mentor Pro is not an investment advisory service, is not an investment adviser, and does not provide personalized financial advice or act as a financial advisor.
Forex Mentor Pro exists for educational purposes only, and the materials and information contained herein are for general informational purposes only. None of the information provided in the website is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, recommendation or sponsorship of any company, security, or fund. The information on the website should not be relied upon for purposes of transacting securities or other investments.
You hereby understand and agree that Forex Mentor Pro, does not offer or provide tax, legal or investment advice and that you are responsible for consulting tax, legal, or financial professionals before acting on any information provided herein. “This report is not intended as a promotion of any particular products or investments and neither Forex Mentor Pro group nor any of its officers, directors, employees or representatives, in any way recommends or endorses any company, product, investment or opportunity which may be discussed herein.
The education and information presented herein is intended for a general audience and does not purport to be, nor should it be construed as, specific advice tailored to any individual. You are encouraged to discuss any opportunities with your attorney, accountant, financial professional or other advisor.
Your use of the information contained herein is at your own risk. The content is provided ‘as is’ and without warranties of any kind, either expressed or implied. Forex Mentor Pro disclaims all warranties, including, but not limited to, any implied warranties of merchantability, fitness for a particular purpose, title, or non-infringement. Forex Mentor Pro does not promise or guarantee any income or particular result from your use of the information contained herein. Forex Mentor Pro.com assumes no liability or responsibility for errors or omissions in the information contained herein.
Under no circumstances will Forex Mentor Pro be liable for any loss or damage caused by your reliance on the information contained herein. It is your responsibility to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content contained herein. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Marc Walton, owner of Forex Mentor Pro, communicates content and editorials on this site. Statements regarding his, or other contributors’ “commitment” to share their personal investing strategies should not be construed or interpreted to require the disclosure of investments and strategies that are personal in nature, part of their estate or tax planning or immaterial to the scope and nature of the Forex Mentor Pro philosophy.
All reasonable care has been taken that information published on Forex Mentor Pro website is correct at the time of publishing. However, Forex Mentor Pro does not guarantee the accuracy of the information published on its website nor can it be held responsible for any errors or omissions.
