{"id":217870,"date":"2022-01-17T20:05:38","date_gmt":"2022-01-17T20:05:38","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=217870"},"modified":"2024-05-24T18:16:10","modified_gmt":"2024-05-24T17:16:10","slug":"big-potential-setups-multiple-timeframes","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/big-potential-setups-multiple-timeframes\/","title":{"rendered":"BIG potential setups, multiple time frames"},"content":{"rendered":"

Hi everyone,<\/p>\n

This week we have big potential setups multiple on time frames. The goal is to give everyone a couple more options during any given week.\u00a0 When you are doing your own analysis, and are looking for possible setups on a smaller time frames, my suggestion is the following:<\/p>\n

– Develop your main bias on a longer time frame.
\n– Identify big areas of support and\/or resistance on these higher time frames.
\n– Carry the identified levels over to your smaller time frame charts.
\n– Use your templates to identify multiple reasons for your stop.<\/p>\n

Forex<\/strong><\/p>\n

US retail sales figures on Friday were terrible and I believe we are now seeing the effects of rapidly rising inflation. I’m also now expecting tighter monetary moves from the US this year.<\/p>\n

Quite a busy week ahead with regards to news and a lot of different currencies could be affected. Not a currency I trade, but keep an eye out for the Chinese GDP news on Monday. Another big one could be U.K. CPI (inflation) news on Wednesday.<\/p>\n

Remember that it is a public holiday in the US on Monday and there could very well be limited movements. Traditionally the year kicks off on Tuesday and I would like to again wish everyone the best of luck for the year ahead!<\/p>\n

++++++++<\/p>\n

Trading for Funds<\/strong><\/h4>\n

You can trade up to $2million of client funds and receive a substantial profit share (up to 35% per month- the profit share on larger accounts has now been increased to 50% for you<\/strong><\/em>). This way you do not need to overtrade nor over leverage. All you need is BIG potential setups planned in advance.<\/p>\n

The goal is to make 3 to 5% per month. On a $100,000 account, 4% will now give you $2000 per month. On a million$ account, you get $20,000 a MONTH.<\/strong><\/em><\/p>\n

Here is a link to the funding program where you can also download a brochure. Please note I recommend that you only risk 0.5% per trade. Funding Brochure<\/a><\/strong><\/p>\n

 <\/p>\n

Private Coaching<\/strong><\/h2>\n

If you want to consider private coaching I only have a few places left for those wanting to start before Easter 2022. I am semi-retired now so only taking a new client per month. This now includes access to my Crypto Investing website and tuition on the subject.<\/p>\n

Details here: One to One with Marc<\/a><\/p>\n

+++++++++++<\/p>\n

MAJORS- BIG potential setups<\/strong><\/h3>\n

EUR\/USD:\u00a0 Still looking to short from 1.1600.<\/p>\n

USD\/CHF: My longer term bias is still to long and I’d be looking for breaks above 0.9200. If you are trading smaller time frames, you could look to short from this area.<\/p>\n

GBP\/USD: Big potential move on this pair. Broke (and managed to stay above) a trendline. I’m looking for price to retest the 1.36100 area.<\/p>\n

AUD\/USD: I was looking to short from the 0.7300 area which price got to on Friday -which we don’t trade! Would short if it gets there again.<\/p>\n

NZD\/USD: Similar scenario to the AUD pair, looking to short from 0.68500<\/p>\n

USD\/JPY:\u00a0 Looking to long at 111.700<\/p>\n

USD\/CAD:\u00a0 Would leave it where it is now, but would look for longs at 1.26700<\/p>\n

 <\/p>\n

CROSSES- BIG potential setups<\/strong><\/h3>\n

EUR\/GBP:\u00a0 I would like to short from 0.85900. Those of you that counter trend trade, 0.8300 looks REALLY interesting.<\/p>\n

GBP\/CAD:\u00a0 Needs to make its mind up. I’d be looking for breaks above 1.7300<\/p>\n

AUD\/JPY: Longing from the current position looks interesting, but I just don’t have enough reasons or the stop. Leaving it for now.<\/p>\n

EUR\/CAD:\u00a0 Areas I’d like to short from are 1.47200 & 1.46500<\/p>\n

GBP\/AUD: Would be looking for longs from 1.85400<\/p>\n

AUD\/CAD: 0.92700 is where I’d like to short from.<\/p>\n

CAD\/JPY: Looking at the monthly chart, 86.300 is where I’d be looking to long from.<\/p>\n

NZD\/JPY: Looking at the 4H chart, 78.200 looks interesting to short form.<\/p>\n

GBP\/JPY: Main bias is to long, but looking at the 4H chart, shorting from the current position looks interesting.<\/p>\n

AUD\/NZD: On the 4H chart again, I’d like to long from 1.05720<\/p>\n

 <\/p>\n

As always, remember correlation!<\/strong><\/p>\n

 <\/p>\n

M3 -Shorter timeframes.<\/strong><\/h5>\n

See the 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 onto 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. Ashley and there are other senior members who are happy to help.<\/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

\"\"<\/a><\/p>\n

Watch the video below for more detailed explanations of this week\u2019s analysis and trade plan and BIG potential setups:<\/p>\n