{"id":216840,"date":"2021-02-08T10:32:56","date_gmt":"2021-02-08T10:32:56","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=216840"},"modified":"2021-02-08T10:32:56","modified_gmt":"2021-02-08T10:32:56","slug":"lots-of-potential-trades-weekly-analysis","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/lots-of-potential-trades-weekly-analysis\/","title":{"rendered":"Lots of Potential Trades: Weekly Analysis"},"content":{"rendered":"<p>Lots of Potential Trades<\/p>\n<p>Hi guys, I explained during the week why you need to be careful about not getting sucked into &#8220;pumps &amp; dumps.&#8221;<\/p>\n<p>There is a lot of craziness going on in the financial world right now where the little guy is trying to fight back against the status quo. Then there are &#8220;big guys&#8221; like Elon Musk who only needs to Tweet a single world for a stock, or crypto to surge (then drop just as quickly).<\/p>\n<p>I explained this in Tuesdays live training session and showed how this is happening across stocks &amp; crypto and possibly other markets in the near future:<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"BokIfQlVK5\"><p><a href=\"https:\/\/www.forexmentorpro.com\/blog\/live-forex-crypto-silver-pump-dumps-beware\/\">Live: Forex, Crypto, Silver Pump &#038; Dumps-Beware!<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Live: Forex, Crypto, Silver Pump &#038; Dumps-Beware!&#8221; &#8212; Forex Mentor Pro - Blog\" src=\"https:\/\/www.forexmentorpro.com\/blog\/live-forex-crypto-silver-pump-dumps-beware\/embed\/#?secret=BokIfQlVK5\" data-secret=\"BokIfQlVK5\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>You can find all my previous posts in my blog history: <a href=\"https:\/\/www.forexmentorpro.com\/members-area\/mentor-blogs\/marcs-m2-analysis\/\" target=\"_blank\" rel=\"noopener noreferrer\">Marcs Blog<\/a><\/p>\n<p>I also caution every week about not trading around news. If you ever needed to know why here is the Gbp\/$ from last Thursday. I said last Sunday &#8220;Do not trade any Gbp pair on Thursday morning.&#8221; and I still get questions from newbies &#8220;why&#8221;? Traders were obviously calculating\/guessing\/gambling that the news was going to be bad. It came out as expected BUT comments from the Governor of the Bank of England saw it rebound quickly.<\/p>\n<h4>Lots of Potential Trades<\/h4>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-46477\" src=\"https:\/\/www.forexmentorpro.com\/members-area\/wp-content\/uploads\/2021\/02\/why-dont-trade-around-news-1024x642.png\" alt=\"Lots of Potential Trades\" width=\"725\" height=\"454\" title=\"\"><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Trade for clients &amp; receive a substantial profit share<\/strong><\/p>\n<p>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: <a href=\"https:\/\/www.forexmentorpro.com\/dl\/FMP_Funding_Brochure.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Trade for Clients<\/a><\/p>\n<p>It&#8217;s a very light scheduled week for news.<\/p>\n<p>Many of the trades are the same as last week, some with minor adjustments.<\/p>\n<h5>Lots of Potential Trades<\/h5>\n<p><strong>\u20acuro\/$: <\/strong>didn&#8217;t work last week, but technically it was a very good setup that I would not hesitate to take again. Now it&#8217;s a little bit tricky but I show in the video how there is<strong> a daily head &amp; shoulders pattern that suggests this could be a 400 pip drop!<\/strong> I will watch at the open to short from its current position. If it breaks back higher I will wait until Tuesday before getting involved.<\/p>\n<p>There is also an inverse one on the Chf which adds to the theory. The only issue is that the Chf looked to have broken higher last week, then dropped .<\/p>\n<p><strong>Chf: <\/strong>I prefer the Euro so only watching this for correlation. If it moves higher \u00a0T I will be looking for a short. The better area is all the way back up at 0.9590- it seems unlikely now, but you never know with forex.<\/p>\n<p><strong>Euro\/Gbp: <\/strong>Perfect M2 break of a trendline a couple of weeks ago and hit my 170 pip target BUT I missed the entry \ud83d\ude41 looking to short again on a pull-back to 0.8900<\/p>\n<p><strong>Gbp\/$: <\/strong>1.3370 looks good for a possible long.\u00a0 Intraday 1.3500 for possible bounce too.<\/p>\n<p><strong>$\/Yen: <\/strong>104.00 possible long.<\/p>\n<p><strong>Cad:<\/strong> I suspect this may go on a run down over the coming months but for that, I need to either catch it higher up or wait for price to break 1.2600 on a weekly . Explained in the video.<\/p>\n<p><em>I will short half at 1.2940 and the other half at 1.2990. Also, Possible swing trade<\/em>\u00a0around 1.2600 with monthly 200ema to tuck the stop behind.\u00a0 See the video.<\/p>\n<p><strong>Nzd: <\/strong>Possible longs at 0.7075. If that fails I would long again if it drops to 0.7000. New Zealand has virtually eradicated COVID. Fundamentally I am much more biased to the upside and possible much higher.<\/p>\n<p><strong>Aud<\/strong>: worked last week but Murphy&#8217;s law on Friday \ud83d\ude41\u00a0 0.7350 long is the most conservative\/strongest, but it may not get there. Another possibility is a long at 0.7600- see the video.<\/p>\n<p><strong>Euro\/Yen <\/strong>125.00 is a long for me. Intraday watch 126.00 <em><strong>Possible swing trade\u00a0<\/strong><\/em>127.70 see the video.<\/p>\n<p><strong>Cad\/Yen<\/strong> 80.50 long. <em><strong>Possible swing trade 82.50 watch at the open<\/strong><\/em><\/p>\n<p><strong>Aud\/Yen:<\/strong>\u00a0Looking to long at 79.00\u00a0<em>Possible swing trade 83.30 (intraday watch 80.00 as its a big area.<\/em><em><strong><br \/>\n<\/strong><\/em><\/p>\n<p><strong>Euro\/Aud:<\/strong> We have had a good run on this pair in recent weeks. (swing trade at 1.5600) near the bottom. That is an option once more or a short at 1.5900. Intraday possible short at 1.5830- see the video<\/p>\n<p><strong>Euro\/Nzd:<\/strong> 3 levels this week. Intraday watch 1.6860. 1.6990 &amp; 0.7030 (I split the order in two last week) see last Fridays video)<\/p>\n<p><strong>Aud\/Nzd:<\/strong> not my favourite pair but good call by one of my private students who shorted at 1.0650 last week. There again now.<\/p>\n<p><strong>Nzd\/Cad:<\/strong> Not one of my usual pairs but 0.9050 is an M2 long.<\/p>\n<p><strong>Gbp\/Nzd:<\/strong> Another one of my private students pointed out that 1.9400 is &#8220;the sweet spot&#8221; to short, good call \ud83d\ude42<\/p>\n<p><strong>M3 Shorter timeframes<\/strong><\/p>\n<p>See the\u00a0<a href=\"https:\/\/www.forexmentorpro.com\/members-area\/course\/m3-day-trading-strategy\/\" target=\"_blank\" rel=\"noopener noreferrer\">new course<\/a>\u00a0&amp; 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 &amp; 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<p>New members, please note: If I am looking to take a trade long, for example, 1.5000, I place my order 10 pips above &amp; 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<p>We are NOT a \u201ctipping service\u201d our aim is to teach you how to trade for yourself.<\/p>\n<p>For more up to the minute, updates do not forget to drop by the forum.<\/p>\n<p>Watch the video for more detailed explanations of this week\u2019s analysis and trade plan.<\/p>\n<h5>Lots of Potential Trades<\/h5>\n<p><iframe src=\"https:\/\/player.vimeo.com\/video\/509225597\" width=\"640\" height=\"360\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lots of Potential Trades Hi guys, I explained during the week why you need to be careful about not getting sucked into &#8220;pumps &amp; dumps.&#8221; There is a lot of craziness going on in the financial world right now where the little guy is trying to fight back against the status quo. Then there are [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":216803,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","rank_math_lock_modified_date":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-216840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised"],"_links":{"self":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/216840"}],"collection":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/comments?post=216840"}],"version-history":[{"count":0,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/216840\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media\/216803"}],"wp:attachment":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media?parent=216840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/categories?post=216840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/tags?post=216840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}