Hi, in recent weeks we have seen a lot of choppy markets and many major pairs do not fit the rules of my strategy nor my plan.
Solution?
I look at lots of different pairs or use an alternate strategy or a mixture.
Ashley and his fellow traders in the forum shared a lot of winning trades last week that were a mixture of M2 & Earth &Sky. I mention all the time that you need to be flexible to be a successful trader. These guys are doing it and sharing in real time, so get in there.
Sometimes I might only have one trade in a week, but if the risk-reward is good I don’t need many winning trades to have a successful month. I showed that in January:
https://www.forexmentorpro.com/members-area/2-trades-one-months-profit/
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
Cryptocurrencies: Members of my crypto advisory site have seen fantastic gains many over 500% since last May, Those who joined in January have seen over 200% and one of my portfolio coins is up 1800% this year alone. $500 bought on the 1st January is now valued at $9000 in 10 weeks!! I advised them to take some profits yesterday.
More about Crypto here: Crypto mini course
Bitcoin: I do not trade it but have been buying since $8130 this time last year. It broke $60,000 last week then pulled back. If it pulls back again around $50.00 I will buy more- I think it’s quite capable of hitting $100,000 by the summer if not sooner- see the video.
The Forex Week Ahead.
I said last week ” do not be greedy at the moment. A lot of trades won last week but for 50/60 pips and then reversed. These are choppy markets, move stops to entry and or take some profits.”
Last weeks news was mixed and this week there isn’t a right lot of it. However, there are a LOT of speeches by central bankers, which might cause some movement-so whats the plan?
Most of the majors are still too messy, so I have looked for opportunities elsewhere and have a few A grade setups as ever.
€uro/$: THis is too messy now for me. Zoom out and watch on the weekly. 1.1600 is the first place I will consider a long. I said in recent weeks that it “couldn’t make its mind up” wow did I get that right!
Chf: Same: Worked again last week “watch 0.9235 and especially 0.9150 for a long.” I still prefer a short higher up at 0.9550 now
Euro/Gbp: Failed to break the trendline yet again. I only want to short, preferably a pullback to 0.8680 or 0.8740- the other choice is to wait for it to break the trendline, then pullback. see the video
Gbp/$: Same as last week…1.3400 long is a zoomed out entry. Intraday 1.3760 is an area to watch but it’s not an A grade for me. Leaving for now.
$/Yen: 108.00 possible long. If you do take it do not be greedy. 110.00 is huge previous support and resistance and there is a weekly trendline not far above- see the video. Swing traders will be looking to short there.
Cad: MIxed news last week. My bias is still short but on a pullback. 1.2670 is the first area for me.
Euro/Cad. I do like the look of this one. I will short at 1.4990 if it pullsback
Gbp/Cad: I might consider a long for now only shorts- see the video.1.7600 is a good area to consider.
Nzd: Flip flopped: If it just drops then I will be interested to long at 0.7080/0.7100
Nzd/Chf: Not a pair I trade but one of my private students points out that 0.6550 looks good to long.
Aud: Even less clear. Zoom out entry is 0.7360/7400 area.
Aud/Cad: I will risk half on a swing trade long at 0.9600. More cautious entry is wait for Earth & Sky “signal” see the video and forum for examples last week.
Euro/Yen 128.00 is a good place for a long for me.
Euro/Aud: 1.5630 for a short
Euro/Nzd: I will short if it pulls back to 1.6960
Nzd/Cad: I will short if it moves back up to 0.9090. Good risk reward- see the video.
Gbp/Nzd: Worked again last week but its looking range bound and might break higher now. I am not as confident but …1.9400 is still “the sweet spot” to short.
M3 Shorter timeframes
See the (non-members will have to sign up to view) 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.
