{"id":2217,"date":"2017-05-30T12:03:50","date_gmt":"2017-05-30T11:03:50","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=2217"},"modified":"2024-05-24T21:49:23","modified_gmt":"2024-05-24T20:49:23","slug":"earth-sky-analysis-30-may-2017","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/earth-sky-analysis-30-may-2017\/","title":{"rendered":"Earth and Sky Analysis for 30 May 2017"},"content":{"rendered":"<p>Good morning everyone.<\/p>\n<p>We had a bit of a slow start to the week but that was expected as we had a bank holiday yesterday and volumes\/momentum was low.<\/p>\n<p>Now we need to wait for things to heat up this morning&#8230;&#8230;&#8230;&#8230;..and then wait for price to come to our areas where we want to do business !!<\/p>\n<p>Lets have a look:<\/p>\n<p><strong><u>The Spaghetti indicator:<\/u><\/strong><\/p>\n<p>Most currencies are flat this morning so I will wait for the Indi to show me later on what&#8217;s overbought and what&#8217;s oversold and then sift my focus to the charts to spot potential set ups at key road block areas. The NZD and the JPY currencies however looks promising as we getting close to the overbought area of the spaghetti indicator !!<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-30034 size-full\" src=\"https:\/\/www.forexmentorpro.com\/members-area\/wp-content\/uploads\/2017\/05\/1-37.png\" alt=\"\" width=\"801\" height=\"180\" title=\"\"><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>If you want to add the overbought and oversold areas to this Indi&#8230;..right click on the RS all Indi&#8230;&#8230;then go to the RS All properties&#8230;&#8230;.here we go to the levels tab&#8230;..then add the 8 and 13 and min 8 and min 13 line and click on OK.<\/li>\n<li>Remember then to save a new template.<\/li>\n<\/ul>\n<p>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.<\/p>\n<p><strong>1)\u00a0`Red Flag News`<em><u>\u00a0<\/u><\/em>that can make you lose your pants if you are not careful.<em>\u00a0<\/em>\ud83d\udca1<\/strong><\/p>\n<p>You can use the following web site for\u00a0<strong>`SCHEDULED NEWS`<\/strong>\u00a0for the week @\u00a0<a href=\"http:\/\/www.dailyfx.com\/calendar\" target=\"_blank\" rel=\"noopener\">http:\/\/www.dailyfx.com\/calendar<\/a><\/p>\n<p><strong>Don`t take any<u>\u00a0trades\u00a0<\/u>just before\u00a0<em>`Red Flag News`<\/em><\/strong>\u00a0If you are already in a trade, protect your entry. I don\u2019t want to meet up with you at Little Beach, Maui, Hawaii. Did you know this is a nudist beach?<\/p>\n<p>For reference if you don\u2019t want to believe me, have a look at the 4th of April 2013 at all the JPY pairs what happened with price after\u00a0<strong>`Red Flag News`<\/strong>\u00a0came out.\u00a0<strong>ALWAYS TRADE\u00a0WITH A STOP!\u00a0<\/strong><\/p>\n<p>Still don\u2019t believe me? Then you must be new to Forex Trading<\/p>\n<p>Have a look at what the Swiss did to the market on the 15th of January 2015!!<\/p>\n<p><strong>You would have lost the shirt on your back, your house, your car, your personality and your virginity for a 2nd time if you didn\u2019t have a stop in place!!! \ud83d\udc7f<\/strong><\/p>\n<p>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..<\/p>\n<p><strong><em>2) Where is the\u00a0`Forum Hang out Spot`\u00a0that everyone is talking about?<\/em><\/strong><\/p>\n<p><strong><em>On the top of this main page, go to the \u00a0FORUM TAB and click on it&#8230;&#8230;.once in there, look for\u00a0`MAIN FORUM AND CURRENT WEEKS TRADES TAB`\u00a0and click on it&#8230;&#8230;&#8230;Once in there look for\u00a0`Pierre`s Earth and Sky Trading\u00a0week `and click on it&#8230;&#8230;..once in there, look for the current week`s thread tab\u00a0and click on it&#8230;&#8230;&#8230;..easy as pips! \ud83d\ude09<\/em><\/strong><\/p>\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\u2026<\/p>\n<p><strong><em>3) This week`s Analysis:<\/em><\/strong><\/p>\n<p><strong><em>This is my current `Earth and Sky\u00a0Trading\u00a0Zones` \u2013\u00a0Please take note of the time frames I am looking at.\u00a0\u2757<\/em><\/strong><\/p>\n<p><strong><em>Sometimes I will refer to\u00a0`The mother in law`\u00a0in my video`s or in my write up. The mother in law represents the 200 EMA (the pink line) on that specific time frame.<\/em><\/strong><\/p>\n<p><strong><em>If you new to the `Earth and Sky`\u00a0method, please make sure you download your free e-book.<\/em><\/strong><\/p>\n<p><strong><em>Go to the\u00a0`Forex\u00a0Education Tab`\u00a0here in the main blog and look for the `Earth and Sky<u>\u00a0Trading\u00a0<\/u>System`\u00a0where you will\u00a0find helpful videos using this system and some Indi`s I use.<\/em><\/strong><\/p>\n<p><strong><em>Remember to have a look at some of the other methods we teach here at\u00a0Forex\u00a0Mentor Pro too.<\/em><\/strong><\/p>\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\u2026<\/p>\n<p><strong>Let&#8217;s have a look what`s cooking in the FOREX kitchen this morning:<\/strong><\/p>\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\u2026&#8230;<\/p>\n<p><strong><u>1)<\/u><\/strong><u>\u00a0<\/u><strong><u>Euro\/Dollar on the DAILY chart:<\/u><\/strong><\/p>\n<p>Difference between last week\u2019s open\/close: Min 26 pips<\/p>\n<p><strong><u>GAP TRADING:<\/u><\/strong><\/p>\n<p>Did we open with a gap this week? No<\/p>\n<p>Did the gap close? N\/A<\/p>\n<p>If the gap didn&#8217;t close, pop over to the education tab &#8211; Look under Marc`s name for his &#8220;Gap Trading Strategy&#8221;<\/p>\n<p><strong><em><u>Earth and Sky Trading Zone for the week:<\/u><\/em><\/strong><\/p>\n<p><em><strong>Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the &#8220;adjusted&#8221; Earth and Sky\u00a0Trading\u00a0Zones for the week.<\/strong><\/em><\/p>\n<p><em><strong>Last week we closed min 26 pips lower than the opening so we can&#8217;t fib the 4 hour chart, but have to fib the daily chart for the long zone. We are so close to the new month so that I have decided that I will fib May to get the zone. <\/strong><\/em><\/p>\n<p>Price is above the 200 EMA<br \/>\n34 EMA (sky) is above the 55 EMA (earth)<br \/>\nDirection: Long<br \/>\nPotential trading zone: Between the 1.1054 and 1.0946 levels<\/p>\n<p>Potential area to look for reaction: At the 1.1054 and 1.0991 and 1.0841 levels.<\/p>\n<p>Potential Profit take areas: At the 1.1155 and 1.1191 and 1.1271 levels.<\/p>\n<p>MACDEE Divergence: No<br \/>\nStochastic: Overbought<\/p>\n<p><strong><em><u>Counter Trades:<\/u><\/em><\/strong><\/p>\n<p>Potential Counter Trades: At the 1.1200 and 1.1271 levels.<\/p>\n<p>Potential Profit take areas: At the 1.1054 levels.<\/p>\n<p><strong>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<p><strong><u>Notes:<\/u><\/strong><\/p>\n<p>As mentioned on Monday&#8230;..take care if the 4 hour 55 EMA breaks to the downside. Well price closed last night under this EMA and we on our way to the Earth and Sky long zone.<\/p>\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\u2026\u2026..<\/p>\n<p><strong><u>2)\u00a0Euro\/JPY on the\u00a0DAILY chart:<\/u><\/strong><\/p>\n<p>Difference between last week\u2019s open\/close: Min 33 pips<\/p>\n<p><strong><u>GAP TRADING:<\/u><\/strong><\/p>\n<p>Did we open with a gap this week? No<\/p>\n<p>Did the gap close? N\/A<\/p>\n<p>If the gap didn&#8217;t close, pop over to the education tab &#8211; Look under Marc`s name for his &#8220;Gap Trading Strategy&#8221; and how to trade it.<\/p>\n<p><strong><em><u>Earth and Sky Trading Zone for the week:<\/u><\/em><\/strong><\/p>\n<p><em><strong>Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the &#8220;adjusted&#8221; Earth and Sky\u00a0Trading\u00a0Zones for the week.<\/strong><\/em><\/p>\n<p><em><strong>Last week we closed min 33 pips lower than the opening so we can&#8217;t fib the 4 hour chart, but have to fib the daily chart for the long zone. We are so close to the new month so that I have decided that I will fib May to get the zone. <\/strong><\/em><\/p>\n<p>Price is above the 200 EMA<br \/>\n34 EMA (sky) is above the 55 EMA (earth)<br \/>\nDirection: Long<br \/>\nPotential trading zone: Between the 123.59 and 122.49 levels<\/p>\n<p>Potential area to look for reaction: At the 122.77 and 122.49 levels.<\/p>\n<p>Potential Profit take areas: At the 124.59 and 125.81 levels.<\/p>\n<p>MACDEE Divergence: No<br \/>\nStochastic: Coming out of Overbought<\/p>\n<p><strong><em><u>Counter Trades:<\/u><\/em><\/strong><\/p>\n<p>Potential Counter Trades: At the 125.00 and 125.81 levels.<\/p>\n<p>Potential Profit take areas: At the 123.59 124.51 levels.<\/p>\n<p><strong>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<p><strong><u>Notes:<\/u><\/strong><\/p>\n<p>I will be keeping an eye on that 200 and 55 EMA in the long Earth and Sky zone to give support before I will re look to long this pair again. If the 55 EMA at 122.21 breaks to the downside, be careful as we can drop to the daily 200 EMA at 120.55 where I then will re look to long if we find support there.<\/p>\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\u2026..<\/p>\n<p><strong><u>3)\u00a0Euro\/GBP on the\u00a04 hour chart:<\/u><\/strong><\/p>\n<p>Difference between last week\u2019s open\/close: Plus 111 pips<\/p>\n<p><u>GAP TRADING:<\/u><\/p>\n<p>Did we open with a gap this week? No<\/p>\n<p>Did the gap close? N\/A<\/p>\n<p>If the gap didn&#8217;t close, pop over to the education tab &#8211; Look under Marc`s name for his &#8220;Gap Trading Strategy&#8221; and how to trade it.<\/p>\n<p><strong><em><u>Earth and Sky Trading Zone for the week:<\/u><\/em><\/strong><\/p>\n<p><em><strong>Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the &#8220;adjusted&#8221; Earth and Sky\u00a0Trading\u00a0Zones for the week.<\/strong><\/em><\/p>\n<p>Price is above the 200 EMA<br \/>\n34 EMA (sky) is above the 55 EMA (earth)<br \/>\nDirection: Long<br \/>\nPotential trading zone: Between the 0.8676 and 0.8638 levels<\/p>\n<p>Potential area to look for reaction: At the 0.8657 and 0.8642 levels.<\/p>\n<p>Potential Profit take areas: At the 0.8730 and 0.8751 levels.<\/p>\n<p>MACDEE Divergence: No<br \/>\nStochastic: No man&#8217;s land<\/p>\n<p><strong><em><u>Counter Trades:<\/u><\/em><\/strong><\/p>\n<p>Potential Counter Trades: At the 0.8751 and 0.8782 levels.<\/p>\n<p>Potential Profit take areas: At the 0.8691 levels.<\/p>\n<p><strong>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<p><strong><u>Notes:<\/u><\/strong><\/p>\n<p>The 55 EMA at 0.8642 and the WS1 pivot at 0.8631 will be key support areas for us this week. If we find solid support here possible longs set ups will follow.<\/p>\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026&#8230;.<\/p>\n<p><strong><u>4)\u00a0GBP\/Dollar on the\u00a0DAILY chart:<\/u><\/strong><\/p>\n<p>Difference between last week\u2019s open\/close: Min 195 pips.<\/p>\n<p><strong><u>GAP TRADING:<\/u><\/strong><\/p>\n<p>Did we open with a gap this week? No<\/p>\n<p>Did the gap close? N\/A<\/p>\n<p>If the gap didn&#8217;t close, pop over to the education tab &#8211; Look under Marc`s name for his &#8220;Gap Trading Strategy&#8221; and how to trade it.<\/p>\n<p><strong><u>Notes:<\/u><\/strong><\/p>\n<p>Last week this one dropped from the highs at the psychological level at 1.3000 and broke the 4 hour 55 EMA and 4 hour 200 EMA to the downside.<\/p>\n<p>Now&#8230;..we getting very close to big support levels for this pair. At the daily 55 EMA at 1.2785, the monthly main pivot at 1.2754 and the daily 200 EMA at 1.2744.<\/p>\n<p>These levels will be key for us this week. If we find good solid support, possible longs set ups will follow<\/p>\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026&#8230;.<\/p>\n<p><strong><u>5)\u00a0GBP\/JPY on the\u00a0DAILY chart:<\/u><\/strong><\/p>\n<p>Difference between last week\u2019s open\/close: Min 221 pips<\/p>\n<p><strong><u>GAP TRADING:<\/u><\/strong><\/p>\n<p>Did we open with a gap this week? No<\/p>\n<p>Did the gap close? N\/A<\/p>\n<p>If the gap didn&#8217;t close, pop over to the education tab &#8211; Look under Marc`s name for his &#8220;Gap Trading Strategy&#8221; and how to trade it.<\/p>\n<p><strong><em><u>Earth and Sky Trading Zone for the week:<\/u><\/em><\/strong><\/p>\n<p><em><strong>Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the &#8220;adjusted&#8221; Earth and Sky\u00a0Trading\u00a0Zones for the week.<\/strong><\/em><\/p>\n<p><em><strong>Last week we closed min 221 pips lower than the opening but the main trend is still up, so we couldn&#8217;t fib the 4 hour chart to get the Earth and Sky trading zone and had to fib the daily chart.<\/strong><\/em><\/p>\n<p><em><strong>IF WE STICK WITH THIS ONE TO FIB FROM THE LOWS OF APRIL TO THE HIGHS OF MAY WE CAN SEE THE 50% FIB HOLDS HANDS WITH THAT DAILY 200 EMA AT 141.72.<\/strong><\/em><\/p>\n<p>Price is above the 200 EMA<br \/>\n34 EMA (sky) is above the 55 EMA (earth)<br \/>\nDirection: Long<br \/>\nPotential trading zone: Between the 141.82 and 138.67 levels<\/p>\n<p>Potential area to look for reaction: At the 141.82 and 141.35<\/p>\n<p>Potential Profit take areas: At the 143.37 and 144.62 and 146.67 levels<\/p>\n<p>MACDEE Divergence: \u00a0Yes, on the 4 hour chart.<br \/>\nStochastic: Oversold<\/p>\n<p><strong><em><u>Counter Trades:<\/u><\/em><\/strong><\/p>\n<p>Potential Counter Trades: At the 147.11 and 148.11 levels.<\/p>\n<p>Potential Profit take areas: At the 1144.00 and 143.52 levels.<\/p>\n<p><strong>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<p><strong><u>Notes:<\/u><\/strong><\/p>\n<p>We hitting key support levels here this morning. The daily 200 EMA and monthly main pivot at 141.72 and 141.35 will be huge for us. If it holds, possible longs set ups will follow.<\/p>\n<p>If it breaks&#8230;..I will sit on my hands<\/p>\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026&#8230;.<\/p>\n<p><strong><u>6)\u00a0Aussie\/Dollar on the\u00a0DAILY chart:<\/u><\/strong><\/p>\n<p>Difference between last week\u2019s open\/close: Min 8 pips.<\/p>\n<p><strong><u>GAP TRADING:<\/u><\/strong><\/p>\n<p>Did we open with a gap this week? No<\/p>\n<p>Did the gap close? N\/A<\/p>\n<p>If the gap didn&#8217;t close, pop over to the education tab &#8211; Look under Marc`s name for his &#8220;Gap Trading Strategy&#8221; and how to trade it.<\/p>\n<p><strong><em><u>Earth and Sky Trading Zone for the week:<\/u><\/em><\/strong><\/p>\n<p><em><strong>Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the &#8220;adjusted&#8221; Earth and Sky\u00a0Trading\u00a0Zones for the week.<\/strong><\/em><\/p>\n<p><em><strong>The direction Indi is mixed on the 4 hour chart, but still short on the daily chart. <\/strong><strong>We are so close to the new month so that I have decided that I will fib May to get the short zone. <\/strong><\/em><\/p>\n<p>Price is under the 200 EMA<br \/>\n34 EMA (sky) is under the 55 EMA (earth)<br \/>\nDirection: Short<br \/>\nPotential trading zone: Between the 0.7443 and 0.7500 levels<\/p>\n<p>Potential area to look for reaction: At the 0.7470 and 0.7487 and 0.7519 levels.<\/p>\n<p>Potential Profit take areas: At the 0.7400 and 0.7329 levels<\/p>\n<p>MACDEE Divergence: No<br \/>\nStochastic: Coming out of overbought.<\/p>\n<p><strong><em><u>Counter Trades:<\/u><\/em><\/strong><\/p>\n<p>Potential Counter Trades: At the 0.7400 and 0.7356 and 0.7308 levels.<\/p>\n<p>Potential Profit take areas: At the 0.7447 levels<\/p>\n<p><strong>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<p><strong><u>Notes:<\/u><\/strong><\/p>\n<p>The 0.7500\/21 levels will once again be huge resistance levels for us. If it holds, possible short set ups will follow.<\/p>\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026&#8230;.<\/p>\n<p><strong><u>7)\u00a0Aussie\/JPY on the 4 hour chart:<\/u><\/strong><\/p>\n<p>Difference between last week\u2019s open\/close: Min 12pips<\/p>\n<p><strong><u>GAP TRADING:<\/u><\/strong><\/p>\n<p>Did we open with a gap this week? No<\/p>\n<p>Did the gap close? N\/A<\/p>\n<p>If the gap didn&#8217;t close, pop over to the education tab &#8211; Look under Marc`s name for his &#8220;Gap Trading Strategy&#8221; and how to trade it.<\/p>\n<p><strong><em><u>Earth and Sky Trading Zone for the week:<\/u><\/em><\/strong><\/p>\n<p><em><strong>Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the &#8220;adjusted&#8221; Earth and Sky\u00a0Trading\u00a0Zones for the week.<\/strong><\/em><\/p>\n<p>Price is under the 200 EMA<br \/>\n34 EMA (sky) is under the 55 EMA (earth)<br \/>\nDirection: Short<br \/>\nPotential trading zone: Between the 83.06 and 83.47 levels<\/p>\n<p>Potential area to look for reaction: At the 83.11 and 83.27 and 83.47 levels.<\/p>\n<p>Potential Profit take areas: At the 82.23 levels<\/p>\n<p>MACDEE Divergence: Yes<br \/>\nStochastic: Coming out of oversold<\/p>\n<p><strong><em><u>Counter Trades:<\/u><\/em><\/strong><\/p>\n<p>Potential Counter Trades: At the 82.25 and 82.00 and 81.70 levels.<\/p>\n<p>Potential Profit take areas: At the 83.00 levels<\/p>\n<p><strong>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<p><strong><u>Notes:<\/u><\/strong><\/p>\n<p>We have MACD divergence here on the 4 hour so look for support at the weekly pivots followed by a counter long back to the weekly main pivot point.<\/p>\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026&#8230;&#8230;&#8230;&#8230;<\/p>\n<p><strong><u>8)\u00a0USD\/JPY on the\u00a04 hour chart:<\/u><\/strong><\/p>\n<p>Difference between last week\u2019s open\/close: Min 4 pips<\/p>\n<p><strong><u>GAP TRADING:<\/u><\/strong><\/p>\n<p>Did we open with a gap this week? No<\/p>\n<p>Did the gap close? N\/A<\/p>\n<p>If the gap didn&#8217;t close, pop over to the education tab &#8211; Look under Marc`s name for his &#8220;Gap Trading Strategy&#8221; and how to trade it.<\/p>\n<p><strong><em><u>Earth and Sky Trading Zone for the week:<\/u><\/em><\/strong><\/p>\n<p><em><strong>Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the &#8220;adjusted&#8221; Earth and Sky\u00a0Trading\u00a0Zones for the week.<\/strong><\/em><\/p>\n<p>Price is under the 200 EMA<br \/>\n34 EMA (sky) is under the 55 EMA (earth)<br \/>\nDirection: Short<br \/>\nPotential trading zone: Between the 111.47 and 111.82 levels<\/p>\n<p>Potential area to look for reaction: At the 111.47 and 111.65 and 111.76 levels.<\/p>\n<p>Potential Profit take areas: At the 111.00 and 110.73 levels<\/p>\n<p>MACDEE Divergence: No<br \/>\nStochastic: No man&#8217;s land<\/p>\n<p><strong><em><u>Counter Trades:<\/u><\/em><\/strong><\/p>\n<p>Potential Counter Trades: At the 110.73 and 110.17 levels.<\/p>\n<p>Potential Profit take areas: At the 111.24 levels.<\/p>\n<p><strong>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<p><strong><u>Notes:<\/u><\/strong><\/p>\n<p>Loads of EMA`s in the zone this week so they will be key resistance areas from111.64 to 111.78<\/p>\n<p>\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026&#8230;.<\/p>\n<p><strong><u>9)\u00a0USD\/CAD on the\u00a0DAILY chart:<\/u><\/strong><\/p>\n<p>Difference between last week\u2019s open\/close: Min 62 pips<\/p>\n<p><strong><u>GAP TRADING:<\/u><\/strong><\/p>\n<p>Did we open with a gap this week? No<\/p>\n<p>Did the gap close? N\/A<\/p>\n<p><strong><u>Notes:<\/u><\/strong><\/p>\n<p>Last week we broke the support level at all the EMA`S at 1.3507 to the downside&#8230;&#8230;.so looking at the chart this morning we can see we are in between possible resistance level at the cluster EMA`S at 1.3507 and the support level at the 200 EMA and MS1 pivot at 1.3343 so possible trades can set up from these levels.<\/p>\n<p>Look for bounce trades and trade between the EMA`S or if it breaks, for possible M2 set ups.<\/p>\n<p>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..<\/p>\n<p><strong><u>10)\u00a0USD Index on the DAILY chart:<\/u><\/strong><\/p>\n<p>Difference between last week\u2019s open\/close: Plus 25 pips<\/p>\n<p><strong><u>GAP TRADING:<\/u><\/strong><\/p>\n<p>Did we open with a gap this week? No<\/p>\n<p>Did the gap close? N\/A<\/p>\n<p>If the gap didn&#8217;t close, pop over to the education tab &#8211; Look under Marc`s name for his &#8220;Gap Trading Strategy&#8221; and how to trade it.<\/p>\n<p><strong><em><u>Earth and Sky Trading Zone for the week:<\/u><\/em><\/strong><\/p>\n<p><em><strong>Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the &#8220;adjusted&#8221; Earth and Sky\u00a0Trading\u00a0Zones for the week.<\/strong><\/em><\/p>\n<p>Price is under the 200 EMA<br \/>\n34 EMA (sky) is under the 55 EMA (earth)<br \/>\nDirection: Short<br \/>\nPotential trading zone: Between the 98.32 and 99.09 levels.<\/p>\n<p>Potential area to look for reaction: At the 98.32 and 98.57 and 98.88 and 99.29 levels.<\/p>\n<p>Potential Profit take areas: At the 97.97 and 97.54 and 96.99 levels.<\/p>\n<p>MACDEE Divergence: No<br \/>\nStochastic: Oversold<\/p>\n<p><strong><em><u>Counter Trades:<\/u><\/em><\/strong><\/p>\n<p>Potential Counter Trades: At the 96.99 and 96.77 levels.<\/p>\n<p>Potential Profit take areas: At the 97.97 and 98.32 levels.<\/p>\n<p><strong>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<p><strong><u>Notes:<\/u><\/strong><\/p>\n<p>We are getting the correction we need. Keep an eye on the 97.97 level as it can be the 1st roadblock for this Index as we have the MS1 pivot here&#8230;..remember it was support that broke so it`s now resistance. If we break it to the upside then look at the levels I mentioned &#8211; At the 98.32 and 98.57 and 98.88 and 99.29 levels.<\/p>\n<p>&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;..<\/p>\n<p>That`s that. \ud83d\ude42<\/p>\n<p><strong><em>Pop over to the forum if you need any help or have any questions !!!<\/em><\/strong><\/p>\n<p>Regards<\/p>\n<p>Pierre<\/p>\n<p>&nbsp;<\/p>\n<p>If you would like to learn how to trade like a professional AND receive detailed daily analysis BEFORE the event then check out our 5* rated forex mentor program, RISK FREE; by clicking on the \u201cGet Started Today\u201d Button below<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.forexmentorpro.com\/blog\/mw-post\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" class=\"alignnone\" src=\"https:\/\/www.forexmentorpro.com\/blog\/wp-content\/uploads\/2017\/01\/728x90-.jpg \" alt=\"Trade Plan\" width=\"728\" height=\"90\" title=\"\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning everyone. We had a bit of a slow start to the week but that was expected as we had a bank holiday yesterday and volumes\/momentum was low. Now we need to wait for things to heat up this morning&#8230;&#8230;&#8230;&#8230;..and then wait for price to come to our areas where we want to do [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":350,"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":[2],"tags":[],"class_list":["post-2217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex-analysis"],"_links":{"self":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/2217"}],"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=2217"}],"version-history":[{"count":1,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/2217\/revisions"}],"predecessor-version":[{"id":219548,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/2217\/revisions\/219548"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media\/350"}],"wp:attachment":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media?parent=2217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/categories?post=2217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/tags?post=2217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}