{"id":5022,"date":"2017-10-24T13:17:58","date_gmt":"2017-10-24T12:17:58","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=5022"},"modified":"2024-05-24T22:50:17","modified_gmt":"2024-05-24T21:50:17","slug":"gaps-equals-trading-opportunities","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/gaps-equals-trading-opportunities\/","title":{"rendered":"GAPS Equals Trading Opportunities!!!"},"content":{"rendered":"

\"\"Good morning everyone.<\/p>\n

We had loads of GAPS yesterday with market opening…..and by the looks of it most GAPS closed already.<\/p>\n

We know by now that 90% of the time the market do close these GAPS…..so when we see GAPS we know that we have possible trading opportunities coming up.<\/p>\n

One easy way to trade them is just a normal simple stupid trend line break on the smaller time frames – that is now if you are awake that time !!! \ud83d\ude41<\/strong><\/p>\n

What ??<\/strong><\/p>\n

Just a trend line break Pierre?? <\/strong><\/p>\n

It can’t be that simple can it ??<\/strong><\/p>\n

Well let’s have a look………..<\/p>\n

For starters -see if you can find a trend line on the 5 min or 15 min chart<\/strong>………dont go to far back with your trend line…….we only want to use the last bit of Friday afternoon\/evenings candles (marked in yellow) \u00a0\u00a0<\/strong><\/p>\n

The following pairs are all pairs that gave GAPS on Monday morning – that closed already and gave some pips !!!<\/p>\n

I took the Euro\/JPY yesterday that gave me already 1\/2 of my weekly target.<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n

………………………………………………………………………….<\/p>\n

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

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

Don`t take any\u00a0trades\u00a0<\/u>just before\u00a0`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

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

………………………………………………………………………….<\/p>\n

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

On the top of this main page, go to the\u00a0` Forum`\u00a0Tab and click on it…….once in there, look for\u00a0`Main forum and Current weeks trades`\u00a0and click on it………Once in there look for\u00a0`Pierre`s Earth and Sky 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<\/p><\/blockquote>\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:<\/u><\/strong><\/p>\n

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

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.<\/strong><\/p>\n

If you new to the `Earth and Sky` please make sure to read the supporting notes for this system – Look for unit \u00a0in the education area under Earth and Sky System.<\/strong><\/p>\n

Go to the\u00a0`Education Tab`\u00a0here in the main blog and look for the\u00a0`Earth and Sky\u00a0Trading\u00a0System`<\/u>\u00a0where you will\u00a0find helpful videos using this system.<\/strong><\/p>\n

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

………………………………………………………………………….<\/p>\n

 <\/p>\n

Ok…..let’s have a look what is cooking in the kitchen for the week<\/strong><\/p>\n

………………………………………………………………………….<\/p>\n

1)<\/u><\/strong>\u00a0Euro\/Dollar on the DAILY chart:<\/strong><\/u><\/p>\n

Difference between last week\u2019s open\/close: Min 57 pips<\/p>\n

GAP TRADING:<\/u><\/strong><\/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

Correlation:<\/strong>\u00a0This pair is\u00a0POSITIVE CORRELATED (moving in the same direction)<\/strong>\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)<\/strong>\u00a0as the Dollar\/CHF pair. Be careful;\u00a0DO NOT OVER EXPOSE YOUR ACCOUNT BY PLACING OPPOSITE TRADES ON THESE TWO PAIRS.<\/strong><\/p>\n

Notes:<\/u><\/strong><\/p>\n

Currently sitting just under the cluster of EMA`S at 1.1805.<\/p>\n

The Head and Shoulder pattern I showed you two weeks ago is still in play……also looks like we trapped in a triangle on the daily too.<\/p>\n

If we break the triangle to the downside I will look to short to the \u00a0MS1 pivot at 1.1656 where after I will re look for support to long again.<\/p>\n

The neckline for the head and shoulder pattern is at 1.1700\/1656 so that need to break first if we want to trade the pattern to the upside.<\/p>\n

If that is the case price can go visit the daily 200 EMA at 1.1455 where I will re look for support to go long again.<\/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

\u00a02)\u00a0USD\/CHF on the 4 hour chart: <\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Plus 112 pips<\/p>\n

GAP TRADING:<\/u><\/strong><\/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:<\/u><\/em><\/strong><\/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\u00a0Trading\u00a0Zones for the week.<\/strong><\/p>\n

Price is above the 200 EMA
\n34 EMA (sky) is above the 55 EMA (earth)
\nDirection: Long
\nPotential trading zone: Between the 0.9806 and 0.9768 levels<\/p>\n

Potential area to look for reaction: At the 0.9806 and 0.9799 and 0.9786 levels.<\/p>\n

Potential Profit take areas: At the 0.9882 and 0.9906 levels<\/p>\n

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

Counter Trades:<\/u><\/em><\/strong><\/p>\n

Potential Counter Trades: At the 0.9882 and 0.9906 levels<\/p>\n

Potential Profit take areas: At the 0.9818 level.<\/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 !!!<\/strong><\/p>\n

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

Notes:<\/u><\/strong><\/p>\n

We currently in no man’s land so wait for price to come to you.<\/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)\u00a0Euro\/JPY on the\u00a04 hour chart:<\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Plus 191 pips<\/p>\n

GAP TRADING:<\/u><\/strong><\/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:<\/u><\/em><\/strong><\/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\u00a0Trading\u00a0Zones for the week.<\/strong><\/p>\n

Price is above the 200 EMA
\n34 EMA (sky) is above the 55 EMA (earth)
\nDirection: Long
\nPotential trading zone: Between the 132.96 and 132.34 levels<\/p>\n

Potential area to look for reaction: At the 133.25 (38.2 fib) and 133.00 and 132.96 and 132.51 levels.<\/p>\n

Potential Profit take areas: At the 134.19 and 134.97 levels<\/p>\n

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

Counter Trades:<\/u><\/em><\/strong><\/p>\n

Potential Counter Trades: At the 134.19 and 134.97 levels<\/p>\n

Potential Profit take areas: At the 133.35 level.<\/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 !!!<\/strong><\/p>\n

Correlation:<\/strong>\u00a0This pair is\u00a0POSITIVE CORRELATED (moving in the same direction)<\/strong>\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

Notes:<\/u><\/strong><\/p>\n

We opened with a GAP on Monday -This GAP already closed yesterday. I got in a little late but took it after I had a ribbon cross on the 30 min chart yesterday.<\/p>\n

Key support for me this week will have to be at the 4 hour 55 and psychological level at 133.00 this week.<\/p>\n

\"\"<\/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)\u00a0Euro\/GBP on the\u00a04 hour chart:<\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Plus 21 pips<\/p>\n

GAP TRADING:<\/u><\/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

Correlation<\/strong>: This pair is\u00a0POSITIVE CORRELATED (moving in the same direction)<\/strong>\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

Notes:<\/u><\/strong><\/p>\n

The 4 hour direction Indi is all mixed up……the daily direction Indi is also all mixed up with the directions this morning.<\/p>\n

I will however look for possible short set ups from the 0.9000 resistance level and possible long set ups from the daily 200 EMA at 0.8820 level again this week.<\/p>\n

I am still in my short I took last week and waiting for possible profit take at 0.8820 area.<\/p>\n

\"\"<\/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)\u00a0GBP\/Dollar on the\u00a0 4 hour and DAILY chart:<\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Min 97 pips<\/p>\n

GAP TRADING:<\/u><\/strong><\/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:<\/u><\/em><\/strong><\/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\u00a0Trading\u00a0Zones for the week.<\/strong><\/p>\n

Price is above the 200 EMA
\n34 EMA (sky) is UNDER the 55 EMA (earth)
\nDirection: Mixed
\nPotential trading zone: Between the 1.3201 and 1.3258 levels<\/p>\n

Potential area to look for reaction: At the 1.3208 levels.<\/p>\n

Potential Profit take areas: At the 1.3100 levels<\/p>\n

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

Counter Trades:<\/u><\/em><\/strong><\/p>\n

Potential Counter Trades: At the 1.3083 levels<\/p>\n

Potential Profit take areas: At 1.3180 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 !!!<\/strong><\/p>\n

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

Notes:<\/u><\/strong><\/p>\n

The 4 hour is mixed with the direction Indi and still long on the daily chart – However the fundamentals tells us to look for shorts that is why I fib the 4 hour this week to get a short zone. Price needs to close first under the EMA`S we have at 1.3200 before I will re look for a short set up.<\/p>\n

On the daily chart it looks like we might be trapped in a triangle.<\/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)\u00a0GBP\/JPY on the\u00a04 hour chart:<\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Plus 176 pips<\/p>\n

GAP TRADING:<\/u><\/strong><\/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:<\/u><\/em><\/strong><\/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\u00a0Trading\u00a0Zones for the week.<\/strong><\/p>\n

Price is above the 200 EMA
\n34 EMA (sky) is above the 55 EMA (earth)
\nDirection: Long
\nPotential trading zone: Between the 149.13 and 148.45 levels<\/p>\n

Potential area to look for reaction: At the 149.04 and 148.65 levels.<\/p>\n

Potential Profit take areas: At the 150.49 and 151.00 levels.<\/p>\n

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

Counter Trades:<\/u><\/em><\/strong><\/p>\n

Potential Counter Trades: At the 150.49 and 151.00 and 151.36 levels<\/p>\n

Potential Profit take areas: At the 149.57 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 !!!<\/strong><\/p>\n

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

Notes:<\/u><\/strong><\/p>\n

We opened with a GAP on Monday. This GAP did close already yesterday. Currently in no man’s land so wait for price to come to you.<\/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)\u00a0Aussie\/Dollar on the\u00a04 hour chart:<\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Min 79 pips.<\/p>\n

GAP TRADING:<\/u><\/strong><\/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:<\/u><\/em><\/strong><\/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\u00a0Trading\u00a0Zones for the week.<\/strong><\/p>\n

Price is under the 200 EMA
\n34 EMA (sky) is under the 55 EMA (earth)
\nDirection: Short
\nPotential trading zone: Between the 0.7834 and 0.7862 levels<\/p>\n

Potential area to look for reaction: At the 0.7832 (38.2 fib) and 0.7842 and 0.7854 and 0.7861 levels<\/p>\n

Potential Profit take areas: At the 0.7796 and 0.7777 levels<\/p>\n

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

Counter Trades:<\/u><\/em><\/strong><\/p>\n

Potential Counter Trades: At the 0.7777 and 0.7745 levels.<\/p>\n

Potential Profit take areas: At the 0.7832 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 !!!<\/strong><\/p>\n

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

Notes:<\/u><\/strong><\/p>\n

If the WR1 pivot at 0.7777 breaks to the downside then we will go visit the mother in law 200 EMA at the WS2 pivot were I will re look to long this pair again.<\/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)\u00a0Aussie\/JPY on the\u00a04 hour chart:<\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Plus 82 pips<\/p>\n

GAP TRADING:<\/u><\/strong><\/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:<\/u><\/em><\/strong><\/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\u00a0Trading\u00a0Zones for the week.<\/strong><\/p>\n

Price is above the 200 EMA
\n34 EMA (sky) is above the 55 EMA (earth)
\nDirection: Long
\nPotential trading zone: Between the 88.42 and 88.10 levels<\/p>\n

Potential area to look for reaction: At the 8.41 and 88.18 levels.<\/p>\n

Potential Profit take areas: At the 89.00 and 89.47 levels<\/p>\n

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

Counter Trades:<\/u><\/em><\/strong><\/p>\n

Potential Counter Trades: At the 89.00 and 89.47 levels.<\/p>\n

Potential Profit take areas: At the 88.63 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 !!!<\/strong><\/p>\n

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

Notes:<\/u><\/strong><\/p>\n

If \u00a0price breaks the 55 EMA at 88.41 for some reason to the downside….. be careful as we might go visit the mother in law at 88.10 where I will re look to long again.<\/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)\u00a0USD\/JPY on the\u00a04 hour chart:<\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Plus 216 pips<\/p>\n

GAP TRADING:<\/u><\/strong><\/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:<\/u><\/em><\/strong><\/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\u00a0Trading\u00a0Zones for the week.<\/strong><\/p>\n

Price is above the 200 EMA
\n34 EMA (sky) is above the 55 EMA (earth)
\nDirection: Long
\nPotential trading zone: Between the 112.89 and 112.29 levels<\/p>\n

Potential area to look for reaction: At the 112.87 and 112.46 levels.<\/p>\n

Potential Profit take areas: At the 114.10 and 114.87 levels<\/p>\n

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

Counter Trades:<\/u><\/em><\/strong><\/p>\n

Potential Counter Trades: At the 114.10 and 114.87 levels.<\/p>\n

Potential Profit take areas: At the 113.28 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 !!!<\/strong><\/p>\n

Notes: <\/u><\/strong><\/p>\n

Currently in no man’s land so wait for price to come to you.<\/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)\u00a0USD\/CAD on the\u00a0DAILY chart:<\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Plus 159 pips<\/p>\n

GAP TRADING:<\/u><\/strong><\/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

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

Notes:<\/u><\/strong><\/p>\n

We had a triangle on this one that broke to the upside on Thursday \u00a0– \u00a0it’s also an inverse head and shoulder pattern with the neckline at 1.2550 so possible pullback followed by a M2 long set up from this level if we find support here again.<\/p>\n

The Dollar Index still didn’t break to the upside so take note.<\/p>\n

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

11)\u00a0USD Index on the 4 hour chart:<\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Min 75 pips<\/p>\n

GAP TRADING:<\/u><\/strong><\/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

Correlation:<\/strong>\u00a0Remember that the Dollar Index is negative correlated with the Euro Index \u00a0(They move in opposite direction)<\/strong>\u00a0so only take one trade at a time as you will double your risk if you took trades on both index`s.<\/p>\n

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

Notes:<\/u><\/strong><\/p>\n

The inverse Head and Shoulder pattern I showed you over the last 2\u00a0 weeks is still in play……also looks like we trapped in a triangle on the daily too.<\/p>\n

If we break the triangle to the downside I will look to short to the \u00a0MS1 pivot at 91.48 where after I will re look for support to long again.<\/p>\n

The neckline for the inverse head and shoulder pattern is at 94.00\/14 so that needs to break first if we want to trade the pattern to the upside.<\/p>\n

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

13)\u00a0NZD\/Dollar on the\u00a04 hour chart:<\/u><\/strong><\/p>\n

Difference between last week\u2019s open\/close: Min 238 pips<\/p>\n

GAP TRADING:<\/u><\/strong><\/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:<\/u><\/em><\/strong><\/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\u00a0Trading\u00a0Zones for the week.<\/strong><\/p>\n

Price is under the 200 EMA
\n34 EMA (sky) is under the 55 EMA (earth)
\nDirection: Short
\nPotential trading zone: Between the 0.7059 and 0.7129 levels<\/p>\n

Potential area to look for reaction: At the (38.2 fib) at 0.7026 and 0.7059 levels.<\/p>\n

Potential Profit take areas: At the 0.6926 and 0.6852 levels<\/p>\n

MACDEE Divergence: YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
\nStochastic: Oversold<\/p>\n

Counter Trades:<\/u><\/em><\/strong><\/p>\n

Potential Counter Trades: At the 0.6900 and 0.6852 levels<\/p>\n

Potential Profit take areas: At the 0.7026 level.<\/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 !!!<\/strong><\/p>\n

Notes:<\/u><\/strong><\/p>\n

If price makes new lows without the correction….follow price with he fib so that the earth and sky short zone can adjust.<\/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

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

\"Trade<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning everyone. We had loads of GAPS yesterday with market opening…..and by the looks of it most GAPS closed already. We know by now that 90% of the time the market do close these GAPS…..so when we see GAPS we know that we have possible trading opportunities coming up. One easy way to trade […]<\/p>\n","protected":false},"author":35,"featured_media":348,"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":[3],"tags":[],"class_list":["post-5022","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\/5022"}],"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=5022"}],"version-history":[{"count":1,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/5022\/revisions"}],"predecessor-version":[{"id":219563,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/5022\/revisions\/219563"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media\/348"}],"wp:attachment":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media?parent=5022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/categories?post=5022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/tags?post=5022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}