{"id":1457,"date":"2017-01-31T15:24:35","date_gmt":"2017-01-31T15:24:35","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=1457"},"modified":"2024-05-23T16:35:25","modified_gmt":"2024-05-23T15:35:25","slug":"red-flag-news-for-the-week-ahead","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/red-flag-news-for-the-week-ahead\/","title":{"rendered":"RED FLAG NEWS FOR THE WEEK AHEAD!!!"},"content":{"rendered":"

Red Flag – Earth and Sky Trading Zone for the week:<\/u><\/strong><\/em><\/h2>\n

Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the “adjusted” Earth and Sky\u00a0Trading\u00a0Zones for the week.<\/strong><\/p>\n

Price is under the 200 EMA
\n34 EMA (sky) is under the 55 EMA (earth)
\nDirection: Short
\nPotential trading zone: Between the 1.3194 and 1.3264 levels<\/p>\n

Potential area to look for reaction: At the 1.3219 and 1.3241 and 1.3254 levels.<\/p>\n

Potential Profit take areas: At the 1.3053 and 1.3011 levels<\/p>\n

MACDEE Divergence: No
\nStochastic: No man’s land<\/p>\n

Counter Trades:<\/u><\/strong><\/em><\/p>\n

Potential Counter Trades: At the 1.3011 levels.<\/p>\n

Potential Profit take areas: At the 1.3156 level.<\/p>\n

Warning: Counter trades are always more riskier than trading with the main trend so change your lot size accordingly if you want to counter trade !!!<\/strong><\/p>\n

Notes:<\/u><\/strong><\/p>\n

Currently we are in no man’s land….so wait for price to come to you.<\/p>\n

Correlation:<\/strong>\u00a0This pair is\u00a0POSITIVE CORRELATED<\/strong>\u00a0(moving in the same direction)<\/strong>\u00a0as the Dollar Index. Be careful; don\u2019t take the same trades on both pairs at the same time!<\/p>\n

……………………………………………………………………………………..<\/p>\n

11)\u00a0USD Index on the <\/u><\/strong>DAILY chart:<\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Min 27 pips<\/p>\n

GAP TRADING:<\/u><\/strong><\/p>\n

Did we open with a gap this week? No<\/p>\n

Did the gap close? N\/A<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

Notes:<\/u><\/strong><\/p>\n

Looking at the daily chart we can see that we under 2x 55 EMA`S and a 200 EMA…..however the MS1 pivot at 99.94 gave some support…..so we trapped between 99.94 and those EMA`S above……so price needs to break either of these 2 levels……..only then I will re look for a M2 trades set up on this Index.<\/p>\n

If you don’t know what is a M2 set up, go to the education tab and look under Marc`s name for it.<\/strong><\/p>\n

Correlation:<\/strong>\u00a0Remember that the Dollar Index is negative correlated with the Euro Index \u00a0(They move in opposite direction)<\/strong>\u00a0so only take one trade at a time as you will double your risk if you took trades on both index`s.<\/p>\n

If you don\u2019t have the index on your platform\u2026..download a demo account with Forex LTD at\u00a0http:\/\/www.forexltd.co.uk\/<\/a><\/p>\n

This pair is\u00a0also\u00a0POSITIVE CORRELATED<\/strong>\u00a0(moving in the same direction)<\/strong>\u00a0as the Dollar\/CAD. Be careful; don\u2019t take the same trades on both pairs at the same time!<\/p>\n

……………………………………………………………………………………..<\/p>\n

Please remember we are NOT a \u201ctipping service.\u201d What we aim to teach you here at fxmentorpro is how to look for trade set ups using different methods, taking you\u2019re trading to the next level.<\/em><\/p>\n

Have a good one mates<\/p>\n

Pierre!<\/p>\n

`Learn from yesterday, Live for today and hope for tomorrow`<\/p>\n

Remember to make the video clip bigger to see the levels more clearly!<\/u><\/strong><\/p>\n

If you would like to learn how to trade like a professional check out our 5* rated forex mentor program, RISK FREE; by clicking on the \u201cGet Started Today\u201d Button below<\/p>\n

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