{"id":217648,"date":"2021-05-31T17:57:31","date_gmt":"2021-05-31T16:57:31","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=217648"},"modified":"2021-05-31T17:57:31","modified_gmt":"2021-05-31T16:57:31","slug":"short-week-ahead","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/short-week-ahead\/","title":{"rendered":"Short Week Ahead"},"content":{"rendered":"<p>Hi, last week was a very successful one, all from a few pre-planned trades from my analysis from last Sunday.<\/p>\n<p>Then on Tuesday in the live session someone reminded me about upcoming NZD news. I cancelled the Gbp\/Nzd trade, thankfully as the news would have killed it. I then took the Gbp\/Aud instead. The balance of which is now +200 pips and could go another 150 \ud83d\ude42<\/p>\n<p>The Euro\/Nzd second part is also +200 pips you can see both in todays video.<\/p>\n<p>In Fridays short video I showed how I had managed the trades. I took most of the profit and left the balance to run. Here is the link to the post and video:<\/p>\n<p><a href=\"https:\/\/www.forexmentorpro.com\/blog\/a-few-trades-monthly-target\/\">https:\/\/www.forexmentorpro.com\/members-area\/a-few-trades-monthly-target\/<\/a><\/p>\n<p style=\"text-align: center;\">+++++++++<\/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:\u00a0<a href=\"https:\/\/www.forexmentorpro.com\/dl\/FMP_Funding_Brochure.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Trade for Clients<\/a><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\">+++++++++++<\/p>\n<h4><strong>The Forex Week Ahead<\/strong><\/h4>\n<p>Its a bank holiday in the USA &amp; Uk on Monday which probably means it will be a very slow day so the best advice is to leave it alone. Then it is NFP on Friday which we never trade so it&#8217;s either a very short week or a holiday \ud83d\ude42<\/p>\n<p>Make sure to <strong>check into the forum and Tuesdays live training session<\/strong> there were some great trade setups shared in both places last week again.<\/p>\n<p>As I trade from weekly charts many of the levels are the same or very similar to last week BUT they gave over 400 pips so no reason to change.<\/p>\n<p><strong>\u20acuro\/$: <\/strong>$1.2000 is a huge area. However it may not get there, if so watch 1.2050 intraday but there is not a great place for a stop, but if you are trading smaller timeframes look for clues there.<\/p>\n<p><strong>Chf: <\/strong>No risk reward current position, I need a pullback looking to short at 0.9150<\/p>\n<p><strong>Euro\/Gbp: MIssed my short entry by 4 pips last week, then dropped 84 <\/strong>\ud83d\ude41 Looking to short again, this week at 0.8660<\/p>\n<p><strong>Gbp\/$: <\/strong>I only want to long 1.4000 is the 1st place.<\/p>\n<p><strong>$\/Yen: <\/strong>108.30 is a key area to consider a long.<\/p>\n<p><strong>Cad:<\/strong> Hopefully I kept you out of a losing short yet againlast week. I explained there was a multi year support area and the price would more likely bounce off it than not. We trade probability! We have been shorting this successfully for over a year. Needs a big pullback to short. First place to consider is 1.2350.<\/p>\n<p>There are a lot of Cad crosses lining up BUT dont forget correlation: <a href=\"https:\/\/www.mataf.net\/en\/forex\/tools\/correlation\" target=\"_blank\" rel=\"noopener\">Correlation<\/a><\/p>\n<p><strong>Euro\/Cad <\/strong>1.4960 is where I will look to short again. Intraday watch 1.4870<\/p>\n<p><strong>Gbp\/Cad:<\/strong> Looking to short at 1.7190 (split entry- see the video).<\/p>\n<p><strong>Nzd: <\/strong>My bias is still to long <strong>0.7200<\/strong><\/p>\n<p><strong>Aud<\/strong>: Too much news &amp; Its been messy for weeks and limited moves. Leaving alone.<\/p>\n<p><strong>Euro\/Yen\u00a0<\/strong>131.30 is technically the spot to take a long.<\/p>\n<p><strong>Gbp\/Yen.<\/strong> Not one of my pairs, 152.50&#8230; is the place to consider a long.<\/p>\n<p><strong>Nzd\/Yen:<\/strong> 78.00 is 1st place to consider a long.<\/p>\n<p><strong>Euro\/Nzd: worked again last week: &#8220;This one has more reasons for the stop so <\/strong>I will short if it pulls back to 1.6950&#8243; &#8211; Intraday watch 1.6800 on smaller timeframes.<\/p>\n<p><b>Euro\/Nzd:\u00a0<\/b><\/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<p>&nbsp;<\/p>\n<p><iframe src=\"https:\/\/player.vimeo.com\/video\/556585784\" width=\"640\" height=\"360\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p style=\"text-align: center;\"><strong>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<\/strong><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.forexmentorpro.com\/blog\/mw-post\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/01\/728x90-.jpg \" width=\"728\" height=\"90\" alt=\"\" title=\"\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hi, last week was a very successful one, all from a few pre-planned trades from my analysis from last Sunday. Then on Tuesday in the live session someone reminded me about upcoming NZD news. I cancelled the Gbp\/Nzd trade, thankfully as the news would have killed it. I then took the Gbp\/Aud instead. The balance [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":216566,"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_focus_keyword":"","rank_math_description":"","rank_math_title":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-217648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex-articles"],"_links":{"self":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/217648","targetHints":{"allow":["GET"]}}],"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=217648"}],"version-history":[{"count":0,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/217648\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media\/216566"}],"wp:attachment":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media?parent=217648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/categories?post=217648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/tags?post=217648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}