{"id":881,"date":"2016-11-24T16:21:28","date_gmt":"2016-11-24T16:21:28","guid":{"rendered":"https:\/\/www.forexmentorpro.com\/blog\/?p=881"},"modified":"2024-05-24T18:02:40","modified_gmt":"2024-05-24T17:02:40","slug":"multiple-reasons","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/multiple-reasons\/","title":{"rendered":"Multiple Reasons"},"content":{"rendered":"

Good morning all<\/span><\/p>\n

What’s up and what’s down this morning?<\/span><\/p>\n

Well the Aussie\/JPY long set up triggered yesterday from out of the Earth and Sky long zone and this trade is currently \u00a060 odd pips up after confirmation. We hitting a psychological level now at 82.00 so I will keep an eye on that and pull the trade if we cant break to the upside…..however my main profit take will have be at 82.40 where we have this week’s WR1 pivot point and if you look to the left…..previous support\/resistance too. Remember – ALWAYS LOOK TO THE LEFT OF THE CHART<\/strong> to spot previous support\/levels and build a puzzle with how those levels hold hands with the current EMA`S and pivots and trend lines so that all together can make out the multiple reasons we always look for before we take the trade.<\/span><\/p>\n

The 4 hour chart:\u00a0<\/strong><\/span><\/p>\n

    \n
  1. Get the zone and look for those areas where we want to do business. We cans see \u00a0we have a 34 and 55 EMA in the long zone and look at the 81.30 level gave previous support. Now once price gets close to our area where we want to do business we drop to the 60 min chart and look for that MACD divergence.<\/span><\/li>\n<\/ol>\n

    \"1trade\"<\/span><\/p>\n

    The 60 min chart:\u00a0<\/strong><\/span><\/p>\n

    Yes we have MACD divergence – early warning sign that a change in direction can be on its way.<\/span><\/p>\n

    \"33\"<\/span><\/p>\n

    The 30 min chart:<\/strong><\/span><\/p>\n

    Wait for confirmation to long……..while you wait look for possible profit take areas (road blocks) like for this one……. the 82.00 level and WR1 pivot at 82.40<\/span><\/p>\n

    \"2trade\"<\/span><\/p>\n

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

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

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

    Don`t take any<\/strong>\u00a0trades\u00a0<\/u><\/strong>just before\u00a0<\/strong>`Red Flag News`<\/strong><\/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?<\/span><\/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><\/span><\/p>\n

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

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

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

    2) Where is the\u00a0`Forum Hang out Spot`\u00a0that everyone is talking about?<\/strong><\/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<\/strong><\/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<\/strong><\/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.\u2026<\/span><\/p>\n

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

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

    Sometimes I will refer to<\/strong>\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><\/span><\/p>\n

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

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

    Let`s have a look what is cooking this week in the Forex Kitchen <\/u><\/strong><\/span><\/p>\n

    1) Euro Index on the 4 hour chart:<\/u><\/strong><\/span><\/p>\n

    Currently I have an Earth and Sky short zone between 99.64 and 99.97 with areas to keep an eye on at 99.76 (55 EMA) and 99.96 and 100.00 for solid resistance before I will look to short<\/span><\/p>\n

    If price breaks the 55 EMA at 99.76 to the upside keep an eye on the WR1 pivot and daily 200 EMA` at 99.96 for a short……if that breaks for some reason to the upside I will re look to short from the 100.52 level where we have the 4 hour 200 EMA and daily 55 EMA waiting.<\/span><\/p>\n

    Possible counter longs from 98.67 and 98.15 pivot points<\/span><\/p>\n

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

    2) Euro Dollar on the 4 hour chart:<\/u><\/strong><\/span><\/p>\n

    Currently I have an Earth and Sky short zone between 1.0701 and 1.0769 with areas to keep an eye on at 1.0746\/50 \u00a0and 1.0759 for solid resistance before I will look to short.<\/span><\/p>\n

    If price for some reason do break the 55 EMA and WR1 pivot at 1.0750 to the upside then I will sit on my hands till we get to the WR2 pivot and 4 hour 200 EMA and 55 EMA at 1.0913\/28\/61 where I will re look to short.<\/span><\/p>\n

    Possible counter longs from 1.0489 and 1.0399 pivot points<\/span><\/p>\n

    If we make new lows today – follow it with your fib to get the adjusted short zone for the week.<\/span><\/p>\n

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

    3) Euro JPY on the 4 hour chart:<\/u><\/strong><\/span><\/p>\n

    Currently I have an Earth and Sky LONG<\/strong> ( correlation is not the same at the moment) zone between 116.76 and 116.16 with areas to keep an eye on at 116.73 for solid support before I will look to long<\/span><\/p>\n

    If we do break the 55 EMA at 116.73 to the downside for some reason then I will re look to long from the WS1 pivot at 116.09 and if that breaks from the 115.55 level ( last week’s low and we have a 200 and 55 EMA here too.<\/span><\/p>\n

    Possible counter shorts from 118.00 and 118.20 (200 EMA and pivot)<\/span><\/p>\n

    If we make new highs today – follow it with your fib to get the adjusted long zone for the week.<\/span><\/p>\n

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

    4) Euro GBP on the 4 hour chart:<\/u><\/strong><\/span><\/p>\n

    Currently I have an Earth and Sky short zone between 0.8600 and 0.8655 with areas to keep an eye on at 0.8600 and 0.8637 for solid resistance before I will look to short.<\/span><\/p>\n

    If price for some reason do break the 55 EMA to the upside then I will sit on my hands till we get to 0.8689 level and 0.8735 and 0.8763 where we have some EMA`S where I will re look to short.<\/span><\/p>\n

    Possible counter longs from 0.8508 and 0.8428 pivot points<\/span><\/p>\n

    If we make new lows today – follow it with your fib to get the adjusted short zone for the week.<\/span><\/p>\n

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

    \u00a05) GBP Dollar on the 4 hour chart:<\/u><\/strong><\/span><\/p>\n

    Currently I have an Earth and Sky short zone between 1.2446 and 1.2519 with areas to keep an eye on at \u00a01.2462 and 1.2499 for solid resistance before I will look to sort.<\/span><\/p>\n

    We currently at the WR1 pivot but be careful before you just jump in as we can go visit the daily 55 EMA at 1.2541.<\/span><\/p>\n

    Possible counter longs from 1.2219 and 1.2119 pivot points<\/span><\/p>\n

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

    6) GBP JPY on the 4 hour chart:<\/u><\/strong><\/span><\/p>\n

    Currently I have an Earth and Sky LONG zone between 136.50 and 135.31 with areas to keep an eye on at \u00a0135.90 and 135.23 for solid support before I will look to long.( The positive correlation between this pair and the GBP\/Dollar is not there at the moment)<\/span><\/p>\n

    Possible counter shorts from 139.00 and 139.56 pivot points<\/span><\/p>\n

    If we make new highs today – follow it with your fib to get the adjusted long zone for the week.<\/span><\/p>\n

    ………………………………………………………………<\/span><\/p>\n

    7) Aussie Dollar on the 4 hour chart:<\/u><\/strong><\/span><\/p>\n

    Currently I have an Earth and Sky short zone between 0.7441 and 0.7509 with areas to keep an eye on at 0.7475 and 0.7494 and 0.7525<\/span><\/p>\n

    Possible counter longs from 0.7233 and 0.7143 pivot points<\/span><\/p>\n

    If we make new lows today – follow it with your fib to get the adjusted short zone for the week.<\/span><\/p>\n

    ………………………………………………………………<\/span><\/p>\n

    8) Aussie JPY on the 4 hour chart:<\/u><\/strong><\/span><\/p>\n

    Currently I have an Earth and Sky long zone between 81.56 and 81.04 with areas to keep an eye on at 81.30 and 81.00 for solid resistance before I will look to long. This long triggered yesterday already from the 55 EMA. Currently we hitting a resistance level at 82.00 but I will like if we can get to the WR1 pivot at 82.40 for main profit take<\/span><\/p>\n

    If price for some reason do break the 55 EMA to the downside and the 81.00 level then I will sit on my hands till we get to the WR1 pivot and 4 hour and daily 200 EMA`s \u00a0at 80.31 where I will re look to long<\/span><\/p>\n

    Possible counter shorts from 82.40 and 82.61 \u00a0and 83.55 pivot points<\/span><\/p>\n

    ………………………………………………………………<\/span><\/p>\n

    9) Dollar JPY on the 4 hour chart:<\/u><\/strong><\/span><\/p>\n

    Currently I have an Earth and Sky long zone between 109.06 and 107.90 with areas to keep an eye on at 108.44 and 108.15 for solid support before I will look to long.<\/span><\/p>\n

    If price for some reason break the WS1 pivot at 108.15 to the downside, then I will sit on my hands till price gets to the 106.25 and 105.81 levels before I will re look to long.<\/span><\/p>\n

    Possible counter shorts from 112.42 and 113.91 pivot points<\/span><\/p>\n

    If we make new highs today – follow it with your fib to get the adjusted long zone for the week.<\/span><\/p>\n

    ………………………………………………………………<\/span><\/p>\n

    10) Dollar CAD on the 4 hour chart:<\/u><\/strong><\/span><\/p>\n

    We were trapped in a triangle on this one that broke to the downside yesterday ……however I will not take a short as we trading straight in to the 4 hour 200 EMA\u00a0 and daily 55 EMA and WS2 pivot. So I will prefer then to look for long set ups from 1.3361 and 1.3320 and 1.3311 levels.<\/span><\/p>\n

    Possible shorts only from the WR1 pivot at 1.3598 pivot point and last week’s high area.<\/span><\/p>\n

    ………………………………………………………………<\/strong><\/span><\/p>\n

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

    Currently I have an Earth and Sky long zone between 100.30 and 99.70 with areas to keep an eye on at 100.00 and 99.92 before I will look to long.<\/span><\/p>\n

    If price for some reason breaks the WS1 pivot and 55 EMA at 99.92 to the downside, then I will sit on my hands till price gets to the WS2 and 200 EMA at 98.43 level before I will re look to long.<\/span><\/p>\n

    Possible counter shorts from 102.20 and 102.99<\/span><\/p>\n

    If we make new highs today – follow it with your fib to get the adjusted long zone for the week.<\/span><\/p>\n

    ………………………………………………………………<\/span><\/p>\n

    Regards<\/span><\/p>\n

    Pierre<\/span><\/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

    \n