{"id":252,"date":"2016-04-20T12:40:41","date_gmt":"2016-04-20T11:40:41","guid":{"rendered":"https:\/\/forexmentorpro.com\/blog\/?p=252"},"modified":"2024-05-24T15:41:14","modified_gmt":"2024-05-24T14:41:14","slug":"gap-trading-in-forex","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/gap-trading-in-forex\/","title":{"rendered":"Gap Trading In Forex!!"},"content":{"rendered":"

Good morning everyone<\/p>\n

Hope you are all well and healthy this stunning morning<\/p>\n

We had loads and loads of gaps this week……….and all of them closed already by this morning……so if you know how to trade them……you would have been done trading for the week with loads of time to spare !!!<\/p>\n

Lets have a look at some gaps that closed yesterday……………and yes………the Indi I created and used here in the examples might be available soon so watch this space.<\/p>\n

 <\/p>\n

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

 <\/p>\n

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

 <\/p>\n

African proverb for the week:<\/strong><\/p>\n

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

………………………………………………………………………….<\/p>\n

1)\u00a0`Red Flag News`<\/strong>\u00a0<\/span><\/i><\/b>that can make you lose your pants if you are not careful.<\/strong>\u00a0<\/i><\/b>\ud83d\udca1<\/strong><\/p>\n

You can use the following web site for\u00a0`SCHEDULED NEWS`<\/b>\u00a0for the week @\u00a0http:\/\/www.dailyfx.com\/calendar<\/a><\/p>\n

Don`t take any<\/strong>\u00a0trades\u00a0<\/span><\/b>just before\u00a0<\/strong>`Red Flag News`<\/b><\/em>\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

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`Red Flag News`<\/strong>\u00a0came out.\u00a0ALWAYS TRADE\u00a0WITH A STOP!\u00a0<\/strong><\/p>\n

Still don\u2019t believe me? Then you must be new to Forex Trading<\/p>\n

Have a look at what the Swiss did to the market on the 15th of January 2015!!<\/p>\n

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<\/b><\/p>\n

………………………………………………………………………….<\/p>\n

2) Where is the\u00a0`Forum Hang out Spot`\u00a0that everyone is talking about?<\/b><\/em><\/span><\/p>\n

On the top of this main page, go to the\u00a0`Members Forum`\u00a0Tab and click on it…….once in there, look for\u00a0`Pierre`s Corner`\u00a0and click on it………Once in there look for\u00a0`Pierre`s Trading\u00a0week `and click on it……..once in there, look for the\u00a0Current week`s Thread Tab\u00a0and click on it………..easy as pips! \ud83d\ude09<\/b><\/em><\/span><\/p>\n

Or if you have the need for speed and want to trade Gold. Oil\u00a0and some other instruments\u00a0and want to hang out with\u00a0Omar………… On the top of this main page, go to the\u00a0`Members Forum`\u00a0Tab and click on it…….once in there, look for the\u00a0`Operation Gold\u00a0Rush`\u00a0Tab and click on it \u2013 there you have it, you have struck gold!! \ud83d\ude42 \u00a0<\/b><\/em><\/span><\/p>\n

\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

3) This week`s Analysis:<\/strong><\/p>\n

This is my current `Earth and Sky<\/strong>\u00a0Trading\u00a0Zones` \u2013<\/strong>\u00a0Please take note of the time frames I am looking at.<\/strong>\u00a0\u2757<\/strong><\/b><\/p>\n

Sometimes I will refer to<\/strong>\u00a0`The mother in law`<\/strong>\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.<\/strong><\/b><\/p>\n

If you new to the `Earth and Sky`\u00a0method, please make sure you download your free e-book.<\/strong><\/p>\n

Go to the<\/strong>\u00a0`\u00a0Education Tab`<\/strong>\u00a0here in the main blog and look for the `Earth and Sky<\/strong>\u00a0Trading\u00a0<\/span>System`<\/strong>\u00a0where you will\u00a0find helpful videos using this system and some Indi`s I use.<\/strong><\/b><\/p>\n

Remember to have a look at some of the other methods we teach here at<\/strong>\u00a0Forex\u00a0Mentor Pro too.\u00a0\u00a0<\/strong><\/b><\/p>\n

………………………………………………………………………….<\/p>\n

1)<\/strong>\u00a0Euro Index on the<\/strong>\u00a0Daily chart:<\/b><\/p>\n

Difference between last week\u2019s open\/close: Min 95 pips<\/p>\n

GAP TRADING:<\/span><\/b><\/p>\n

Did we open with a gap this week? No<\/p>\n

Did the gap close? N\/A<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

Earth and Sky Trading Zone for the week:<\/span><\/i><\/b><\/p>\n

Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the “adjusted” Earth and Sky<\/strong>\u00a0Trading\u00a0Zones for the week.<\/strong><\/b><\/p>\n

Price is above the 200 EMA
\n34 EMA (sky) is above the 55 EMA (earth)
\nDirection: Long
\nPotential trading zone: Between the 99.06 and 98.14 levels<\/p>\n

Potential area to look for reaction: At the 99.49 ( 38.2 fib) and 99.06 ( 50% fib) and 98.60 ( 62.5 fib and daily 200 EMA) levels<\/p>\n

Potential Profit take areas: At the 100.16 (WR1) \u00a0and 100.90 (WR2 and last month’s high)<\/p>\n

MACDEE Divergence: No
\nStochastic: Going into oversold<\/p>\n

Counter Trades:<\/span><\/i><\/b><\/p>\n

Potential Counter Trades: At the 100.90 level ( last month’s high and WR2 pivot)<\/p>\n

Potential Profit take areas: At the 99.71 ( main weekly pivot)<\/p>\n

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 !!!<\/b><\/p>\n

Notes:<\/span><\/b><\/p>\n

Currently we camping out at the 38.2 fib and monthly main pivot…….so I will be looking for good solid support and confirmation to long…….if we do break to the downside next line in the sand for me will be the 200 EMA at 98.60 where I will re look to go long.<\/p>\n

Correlation:<\/b>\u00a0Remember that the following pairs make out the\u00a0`Euro Index Basket`<\/b>\u00a0\u2013 The Euro\/Dollar, Euro\/JPY, EURO\/GBP and the EURO\/CHF.\u00a0(They all move in the same direction)<\/b>\u00a0Use the `Euro Index` for extra confirmation and information to trade the basket pairs. If you don\u2019t have the index on your platform\u2026..download a demo account with Forex LTD at\u00a0http:\/\/www.forexltd.co.uk\/<\/a><\/p>\n

\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

2)<\/strong>\u00a0<\/span>Euro\/Dollar on the DAILY chart:<\/strong><\/p>\n

Difference between last week\u2019s open\/close: Min 111 pips<\/p>\n

GAP TRADING:<\/span><\/b><\/p>\n

Did we open with a gap this week? No<\/p>\n

Did the gap close? N\/A<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

Earth and Sky Trading Zone for the week:<\/span><\/i><\/b><\/p>\n

Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the “adjusted” Earth and Sky<\/strong>\u00a0Trading\u00a0Zones for the week.<\/strong><\/b><\/p>\n

Price is above the 200 EMA
\n34 EMA (sky) is above the 55 EMA (earth)
\nDirection: Long
\nPotential trading zone: Between the 1.1143 and 1.0983 levels<\/p>\n

Potential area to look for reaction: At the 1.1219 ( 38.2 fib and 55 EMA and monthly main pivot) and 1.1121 ( daily 200 EMA)<\/p>\n

Potential Profit take areas: At the 1.1427 (WR1) and 1.1463 ( last month’s high)<\/p>\n

MACDEE Divergence: No
\nStochastic: No man’s land<\/p>\n

Counter Trades:<\/span><\/i><\/b><\/p>\n

Potential Counter Trades: At 1.1463 ( last month’s high) and 1.1587 (MR1)<\/p>\n

Potential Profit take areas: At the 1.1321 9 – the 4 hour 55 EMA and 1.1250 ( 4 hour 200 EMA )<\/p>\n

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 !!!<\/b><\/p>\n

Notes:<\/span><\/b><\/p>\n

Loads happening at the 38.2 fib at 1.1219 this week……..but if it do break for some reason my next line in the sand where I will re look to long will be from 1.1121 where we have the daily 200 EMA waiting.<\/p>\n

Correlation:<\/strong>\u00a0This pair is\u00a0POSITIVE CORRELATED (moving in the same direction)<\/b>\u00a0as the Euro Index, Euro\/JPY and the Euro\/GBP. Be careful; don\u2019t take the same trades on these four pairs at the same time!<\/p>\n

Also remember:<\/strong>\u00a0This pair is `NEGATIVE CORRELATED` (moving in the opposite direction)<\/b>\u00a0as the Dollar\/CHF pair. Be careful;\u00a0DO NOT OVER EXPOSE YOUR ACCOUNT BY PLACING OPPOSITE TRADES ON THESE TWO PAIRS.<\/b><\/p>\n

\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

3)<\/strong>\u00a0Euro\/JPY on the<\/strong>\u00a04 hour<\/span>\u00a0chart:<\/strong><\/b><\/p>\n

Difference between last week\u2019s open\/close: Min 138 pips<\/p>\n

GAP TRADING:<\/span><\/b><\/p>\n

Did we open with a gap this week? YES !!!!!!!!!!!!!!!!!!!<\/p>\n

Did the gap close? YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

Earth and Sky Trading Zone for the week:<\/span><\/i><\/b><\/p>\n

Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the “adjusted” Earth and Sky<\/strong>\u00a0Trading\u00a0Zones for the week.<\/strong><\/b><\/p>\n

Price is under the 200 EMA
\n34 EMA (sky) is under the 55 EMA (earth)
\nDirection: Short
\nPotential trading zone: Between the 122.84 and 123.43 levels<\/p>\n

Potential area to look for reaction: At the 123.43 ( WR1 pivot) and 123.59 (55 EMA)<\/p>\n

Potential Profit take areas: At the 122.67 ( main weekly pivot) and 121.68 ( last week’s low) and 121.35 ( WS1)<\/p>\n

MACDEE Divergence: No
\nStochastic: No man’s land<\/p>\n

Counter Trades:<\/span><\/i><\/b><\/p>\n

Potential Counter Trades: At the 121.35 (WS1)<\/p>\n

Potential Profit take areas: At the 122.67 ( main weekly pivot)<\/p>\n

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 !!!<\/b><\/p>\n

Notes:<\/span><\/b><\/p>\n

I will be keeping an eye on that 55 EMA at 123.59 to give solid resistance before I will look to short this pair…..If we do break to the upside my next line in the sand to short from will be the WR2 pivot at 124.70 where the 200 EMA will also be waiting<\/p>\n

Correlation:<\/b>\u00a0This pair is\u00a0POSITIVE CORRELATED (moving in the same direction)<\/b>\u00a0as the Euro Index, Euro\/USD and the Euro\/GBP. Be careful; don\u2019t take the same trades on these four pairs at the same time!<\/p>\n

\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

4)<\/strong>\u00a0Euro\/GBP on the<\/strong>\u00a0DAILY <\/span>chart:<\/strong><\/b><\/p>\n

Difference between last week\u2019s open\/close: Min 100 pips<\/p>\n

GAP TRADING:<\/span><\/b><\/p>\n

Did we open with a gap this week? No<\/p>\n

Did the gap close? N\/A<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

Earth and Sky Trading Zone for the week:<\/span><\/i><\/b><\/p>\n

Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the “adjusted” Earth and Sky<\/strong>\u00a0Trading\u00a0Zones for the week.<\/strong><\/b><\/p>\n

Price is above the 200 EMA
\n34 EMA (sky) is above the 55 EMA (earth)
\nDirection: Long
\nPotential trading zone: Between the 0.7883 and 0.7766 levels<\/p>\n

Potential area to look for reaction: At the 0.7900 ( 4 hour 200 EMA) and 0.7861 ( 55 EMA) and 0.7830 ( main monthly pivot)<\/p>\n

Potential Profit take areas: At the 0.7969 ( 55 EMA) and 0.8026 ( MR1) and 0.8117 ( last month’s high and MR 2)<\/p>\n

MACDEE Divergence: No
\nStochastic: No man’s land<\/p>\n

Counter Trades:<\/span><\/i><\/b><\/p>\n

Potential Counter Trades: At the 0.8026 ( MR1) and last month’s high at 0.8117<\/p>\n

Potential Profit take areas: At the 0.7907 ( 4 hour 200 EMA)<\/p>\n

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 !!!<\/b><\/p>\n

Notes:<\/span><\/b><\/p>\n

Price currently sitting on the 4 hour 200 EMA …….while the monthly main pivot at 0.7830 holds my bias will be to look for longs.<\/p>\n

Correlation<\/b>: This pair is\u00a0POSITIVE CORRELATED (moving in the same direction)<\/b>\u00a0as the Euro Index, Euro\/Dollar and the Euro\/JPY. Be careful; don\u2019t take the same trades on these four pairs at the same time!<\/p>\n

\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

5)<\/strong>\u00a0GBP\/Dollar on the<\/strong>\u00a0DAILY<\/span>\u00a0chart:<\/strong><\/b><\/p>\n

Difference between last week\u2019s open\/close: Plus 49 pips<\/p>\n

GAP TRADING:<\/span><\/b><\/p>\n

Did we open with a gap this week? No<\/p>\n

Did the gap close? N\/A<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

Notes:<\/span><\/b><\/p>\n

Last week price broke that triangle I showed you on the Tuesday to the downside…….pulled back and gave a M2 short set up…………..This week it looks once again if this pair is trapped in a triangle. I don’t like it when price don’t respect the 200 and 55 EMA`s……so be careful with this one.<\/p>\n

Correlation:<\/b>\u00a0This pair is\u00a0POSITIVE CORRELATED (moving in the same direction)<\/b>\u00a0as the GBP\/JPY pair. Be careful; don\u2019t take the same trades on both pairs at the same time!<\/p>\n

\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

6)<\/strong>\u00a0GBP\/JPY on the<\/strong>\u00a0DAILY\u00a0 <\/span>chart:<\/strong><\/b><\/p>\n

Difference between last week\u2019s open\/close: Plus 27 pips<\/p>\n

GAP TRADING:<\/span><\/b><\/p>\n

Did we open with a gap this week? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!<\/p>\n

Did the gap close? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

Earth and Sky Trading Zone for the week:<\/span><\/i><\/b><\/p>\n

Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the “adjusted” Earth and Sky<\/strong>\u00a0Trading\u00a0Zones for the week.<\/strong><\/b><\/p>\n

Price is under the 200 EMA
\n34 EMA (sky) is under the 55 EMA (earth)
\nDirection: Short
\nPotential trading zone: Between the 157.89 and 161.02 levels<\/p>\n

Potential area to look for reaction: At the 156.42 938.2 fib) and 157.20 9MS1) and 157.89 ( 50% fib and 200 EMA)<\/p>\n

Potential Profit take areas: At the 155.11 ( 55 EMA) and 152.77 (MS2) and 151.65 ( last week’s low)<\/p>\n

MACDEE Divergence: No
\nStochastic: No man`s land<\/p>\n

Counter Trades:<\/span><\/i><\/b><\/p>\n

Potential Counter Trades: At the 152.77 ( MS2) and 151.65 last month’s low<\/p>\n

Potential Profit take areas: At the 155.11 ( 4 hour 55 EMA)<\/p>\n

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 !!!<\/b><\/p>\n

Notes:<\/span><\/b><\/p>\n

I will be keeping an eye on the MS1 and 38.2 fib this week for good solid resistance –\u00a0 but if that brakes to the upside…..next line in the sand will be the 200 EMA at 158.23<\/p>\n

Correlation:<\/b>\u00a0This pair is\u00a0POSITIVE CORRELATED (moving in the same direction)<\/b>\u00a0as the GBP\/Dollar pair. Be careful; don\u2019t take the same trades on both pairs at the same time!<\/p>\n

\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

7)<\/strong>\u00a0Aussie\/Dollar on the<\/strong>\u00a04 hour <\/span>chart:<\/strong><\/b><\/p>\n

Difference between last week\u2019s open\/close: Plus 70 pips<\/p>\n

GAP TRADING:<\/span><\/b><\/p>\n

Did we open with a gap this week? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!<\/p>\n

Did the gap close? YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

Earth and Sky Trading Zone for the week:<\/span><\/i><\/b><\/p>\n

Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the “adjusted” Earth and Sky<\/strong>\u00a0Trading\u00a0Zones for the week.<\/strong><\/b><\/p>\n

Price is above the 200 EMA
\n34 EMA (sky) is above the 55 EMA (earth)
\nDirection: Long
\nPotential trading zone: Between the 0.7667 and 0.7599 levels<\/p>\n

Potential area to look for reaction: At the 0.7665 ( 50% fib and 55 EMA) and 0.7637 ( main weekly pivot)<\/p>\n

Potential Profit take areas: At the 0.7743 ( WR1) and 0.7803 ( current high) and WR2 at 0.7843<\/p>\n

MACDEE Divergence: No
\nStochastic: Overbought<\/p>\n

Counter Trades:<\/span><\/i><\/b><\/p>\n

Potential Counter Trades: At the 0.7803 9 (current high) and 0.7843 ( WR2)<\/p>\n

Potential Profit take areas: At the 0.7667 ( 55 EMA)<\/p>\n

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 !!!<\/b><\/p>\n

Notes:<\/span><\/b><\/p>\n

If we make a new high follow it with your fib to get the adjusted trading zone for the week.<\/p>\n

\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

8)<\/strong>\u00a0Aussie\/JPY on the<\/strong>\u00a0DAILY<\/span>\u00a0chart:<\/strong><\/b><\/p>\n

Difference between last week\u2019s open\/close: Plus 70 pips<\/p>\n

GAP TRADING:<\/span><\/b><\/p>\n

Did we open with a gap this week? YES !!!!!!!!!!!!!!!!!!<\/p>\n

Did the gap close? YES !!!!!!!!!!!!!!!!!!!!!!!<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

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 !!!<\/b><\/p>\n

Notes:<\/span><\/b><\/p>\n

I don’t like it when price don’t respect the 55 and 200 EMA`S on the 4 hour chart……………..<\/p>\n

Looking at the daily chart then I will keep an eye on the 85.70 and 86.30 levels for good solid resistance to short from. These two levels are last month’s high area plus the daily 200 EMA<\/p>\n

Correlation:<\/b>\u00a0This pair is\u00a0POSITIVE CORRELATED<\/b>\u00a0(moving in the same direction)<\/b>\u00a0as the AUD\/USD pair. Be careful; don\u2019t take the same trades on both pairs at the same time!<\/p>\n

\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

9)<\/strong>\u00a0USD\/JPY on the<\/strong>\u00a0DAILY\u00a0 <\/span>chart:<\/strong><\/b><\/p>\n

Difference between last week\u2019s open\/close: Min 24 pips<\/p>\n

GAP TRADING:<\/span><\/b><\/p>\n

Did we open with a gap this week? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!<\/p>\n

Did the gap close? YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

Earth and Sky Trading Zone for the week:<\/span><\/i><\/b><\/p>\n

Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the “adjusted” Earth and Sky<\/strong>\u00a0Trading\u00a0Zones for the week.<\/strong><\/b><\/p>\n

Price is under the 200 EMA
\n34 EMA (sky) is under the 55 EMA (earth)
\nDirection: Short
\nPotential trading zone: Between the 111.11 and 112.83 levels<\/p>\n

Potential area to look for reaction: At the 110.59 and 111.19 levels.<\/p>\n

Potential Profit take areas: At the 109.18 and 108.00 levels<\/p>\n

MACDEE Divergence: No
\nStochastic: Oversold<\/p>\n

Counter Trades:<\/span><\/i><\/b><\/p>\n

Potential Counter Trades: At the 107.67 and 106.71 levels.<\/p>\n

Potential Profit take areas: At the 109.18 and 110.59 levels<\/p>\n

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 !!!<\/b><\/p>\n

Notes:<\/span><\/b><\/p>\n

Currently we are camping out at the 55 EMA and it looks like it is giving resistance….however I will prefer a pullback to at least 110.59 and 111.19 where I will re look to short from<\/p>\n

\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

10)<\/strong>\u00a0USD\/CAD on the<\/strong>\u00a04 hour<\/span>\u00a0chart:<\/strong><\/b><\/p>\n

Difference between last week\u2019s open\/close: Min 6 pips<\/p>\n

GAP TRADING:<\/span><\/b><\/p>\n

Did we open with a gap this week? YES !!!!!!!!!!!!!!!!!!!!!!!<\/p>\n

Did the gap close? YES!!!!!!!!!!!!!!!!!!!!!!!<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

Earth and Sky Trading Zone for the week:<\/span><\/i><\/b><\/p>\n

Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the “adjusted” Earth and Sky<\/strong>\u00a0Trading\u00a0Zones for the week.<\/strong><\/b><\/p>\n

Price is under the 200 EMA
\n34 EMA (sky) is under the 55 EMA (earth)
\nDirection: Short
\nPotential trading zone: Between the 1.2878 and 1.2947 levels<\/p>\n

Potential area to look for reaction: At the 1.2878 and 1.2903 levels.<\/p>\n

Potential Profit take areas: At the 1.2808 and 1.2740 and 1.2640 \u00a0levels<\/p>\n

MACDEE Divergence: No
\nStochastic: No man’s land<\/p>\n

Counter Trades:<\/span><\/i><\/b><\/p>\n

Potential Counter Trades: At the 1.2740 and 1.2640 levels.<\/p>\n

Potential Profit take areas: At the 1.2808 and 1.2878 levels.<\/p>\n

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 !!!<\/b><\/p>\n

Notes:<\/span><\/b><\/p>\n

If price makes a new low without the pullback…….follow it with the fib to get the adjusted trading zone for the week.<\/p>\n

……………………………………………………………………………………..<\/p>\n

11)<\/strong>\u00a0USD Index on the DAILY chart:<\/strong><\/b><\/p>\n

Difference between last week\u2019s open\/close: Plus 52 pips<\/p>\n

GAP TRADING:<\/span><\/b><\/p>\n

Did we open with a gap this week? No<\/p>\n

Did the gap close? N\/A<\/p>\n

If the gap didn’t close, pop over to the education tab – Look under Marc`s name for his “Gap Trading Strategy” and how to trade it.<\/p>\n

Earth and Sky Trading Zone for the week:<\/span><\/i><\/b><\/p>\n

Remember, if price don\u2019t give us the pull back but instead make new lows\/highs follow price with your fib to get the “adjusted” Earth and Sky<\/strong>\u00a0Trading\u00a0Zones for the week.<\/strong><\/b><\/p>\n

Price is under the 200 EMA
\n34 EMA (sky) is under the 55 EMA (earth)
\nDirection: Short
\nPotential trading zone: Between the 98.06 and 97.30 levels<\/p>\n

Potential area to look for reaction: At the 95.48 (38.2 fib) and 95.80 and 96.06 \u00a0levels.<\/p>\n

Potential Profit take areas: At the 94.58\u00a0 and 93.59 levels<\/p>\n

MACDEE Divergence: No
\nStochastic: No man’s land<\/p>\n

Counter Trades:<\/span><\/i><\/b><\/p>\n

Potential Counter Trades: At the 93.59 and 93.06 levels.<\/p>\n

Potential Profit take areas: At the 94.58 and 95.38 levels.<\/p>\n

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 !!!<\/b><\/p>\n

Notes:<\/span><\/b><\/p>\n

I will prefer if we can have a pullback to at least 95.38 before I will re look to short the index.<\/p>\n

……………………………………………………………………………………..<\/p>\n

Please remember we are NOT a \u201ctipping service.\u201d What we aim to teach you here at fxmentorpro is how to look for trade set ups using different methods, taking you\u2019re trading to the next level.<\/em><\/p>\n

Have a good one mates<\/p>\n

Pierre \ud83d\ude1b<\/p>\n

`Learn from yesterday, Live for today and hope for tomorrow`<\/p>\n

Remember to make the video clip bigger to see the levels more clearly!<\/p>\n