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Later today it’s the heavyweight championship of the world Biden vs Trump \ud83d\ude42<\/p>\nHi, in today’s live forex training session we started by reviewing the live trade that I shared on yesterdays Gbp\/$ trade.<\/p>\n
I have spoken many times of late of your need to be flexible. Be flexible and be able to “think on your feet”<\/p>\n
On Sunday my plan was to leave the pair alone until it had made a significant move. However overnight it only moved in a tiny range of around 20 pips in 8 hours.<\/p>\n
On the basis that the Gbp\/$ currently moves 130+ pips in a day, there was a huge probability that it was going to move up or down! Below the price were all the emas to act as support.<\/p>\n
It only required a 30 pip stop and had the potential to go many 100’s. See the video as to why I took the trade and how I managed it:<\/p>\n
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I also looked at lots of pairs for those following my strategies and we had a quick look at Pierre’s Earth & Sky. This was incredibly unusual in that Pierre only had 1 pair that fit his criteria. A couple of weeks ago he had 14 to choose from!<\/p>\n
This is why its best to not limit yourself to only a few pairs nor 1 strategy. As the market changes then we need to be aware of it and be flexible enough to change plans when needed.<\/p>\n
Later today it’s the heavyweight championship of the world Biden vs Trump \ud83d\ude42<\/p>\n
– the biggest showbiz event of the year.<\/p>\n
Facts and politics will have little to do with what occurs BUT it has the potential to rock the stock & currency markets.<\/p>\n
The best advice is, do not take any new trades a few hours before and wait for the dust to settle afterwards. If things become very silly I will wait for London to reopen tomorrow.<\/p>\n
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M3 Shorter timeframes<\/strong><\/p>\n I also showed how I set up my weekly M3 charts. Last week it was the best system. Take note that on Thursday the monthly pivots will move and Friday its NFP Friday (No Forex)<\/p>\n See the\u00a0new course<\/a>\u00a0& 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\u2019s 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.<\/p>\n 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.<\/p>\n We are NOT a \u201ctipping service\u201d our aim is to teach you how to trade for yourself.<\/p>\n For more up to the minute, updates do not forget to drop by the forum.<\/a><\/p>\n Watch the video for more detailed explanations of this week\u2019s detailed analysis and trade plan.<\/p>\n <\/p>\n