Good morning everyone

Hope you are all well and healthy this stunning morning

Last week we had some big drops on the JPY pairs so surely there must be corrections on the way – back to our preferred Earth and Sky  zones where I will re look to short – trading with the main trend.

The Euro/Dollar Daily chart is showing signs of  exhaustion……if we look at the daily chart we can spot MACDEE divergence with an overbought stochastic so we might be in here too with  a  correction coming up.

We have received the following letter from one of our new members:

`Hey folks, I have been trying to trade Forex for the past 7 years, with no real success. I have more losses then wins, and a lot of frustrations too. I started Forex after our twins were born at 6 weeks early and as a result of that we had to set our alarm clock every 3 hours over night to wake them up for feedings. So I wasn’t able to do that and still get up for a normal job.

I searched for something to work from home and that is when I found trading. How hard could it be I thought. Well I was sadly mistaken there, it is very difficult, especially with no formal training or guidance. I have tried countless systems and EA’s with no success. Searched many websites for help, signals and anything that would improve my chances of being profitable in Forex. I am not expecting to become a millionaire, I just want to be comfortable and help pay the bills.

I got an email about this site, and took advantage of the $1.00 trial. I have downloaded and installed the Earth & Sky system, and have watched Pierre’s videos on the subject as well as using Fibs. I have learned more in the few minutes of watching those videos then I have in the past 6 years. I am planning on continuing my membership as soon as finances permit.

This is an amazing site and it has tons of great info. I am hoping 2016 will finally be the year I make consistent profits.`

Welcome Peter…………… 🙂 One thing is for sure………WE WILL TAKE YOUR TRADING TO THE NEXT LEVEL if you walk with us !!!

You dont need to walk forex alone...You dont need to walk alone…

African proverb for the week:

1) `Red Flag News` that can make you lose your pants if you are not careful. 💡

You can use the following web site for `SCHEDULED NEWS` for the week @ http://www.dailyfx.com/calendar

Don`t take any trades just before `Red Flag News` If you are already in a trade, protect your entry. I don’t want to meet up with you at Little Beach, Maui, Hawaii. Did you know this is a nudist beach?

For reference if you don’t want to believe me, have a look at the 4th of April 2013 at all the JPY pairs what happened with price after `Red Flag News` came out. ALWAYS TRADE WITH A STOP! 

Still don’t believe me? Then you must be new to Forex Trading

Have a look at what the Swiss did to the market on the 15th of January 2015!!

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’t have a stop in place!!! 👿

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2) Where is the `Forum Hang out Spot` that everyone is talking about?

On the top of this main page, go to the `Members Forum` Tab and click on it…….once in there, look for `Pierre`s Corner` and click on it………Once in there look for `Pierre`s Trading week `and click on it……..once in there, look for the Current week`s Thread Tab and click on it………..easy as pips! 😉

Or if you have the need for speed and want to trade Gold. Oil and some other instruments and want to hang out with Omar………… On the top of this main page, go to the `Members Forum` Tab and click on it…….once in there, look for the `Operation Gold Rush` Tab and click on it – there you have it, you have struck gold!! 🙂  

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3) This week`s Analysis:

This is my current `Earth and Sky Trading Zones` – Please take note of the time frames I am looking at. 

Sometimes I will refer to `The mother in law` in my video`s or in my write up. The mother in law represents the 200 EMA (the pink line) on that specific time frame.

If you new to the `Earth and Sky` method, please make sure you download your free e-book.

Go to the `Forex Education Tab` here in the main blog and look for the `Earth and Sky Trading System` where you will find helpful videos using this system and some Indi`s I use.

Remember to have a look at some of the other methods we teach here at Forex Mentor Pro too.  

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Ok…..let’s have a look at the Earth and Sky analysis for the week:

You dont need to walk alone…

My current antelopes I am looking at:

1)  Euro/JPY

2) Euro/GBP

3) GBP/Dollar

4) Aussie/JPY

5) USD/CAD

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1) Euro Index on the Daily chart:

Difference between last week’s open/close: Min 34 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

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.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 99.05 and 98.13 levels

Potential area to look for reaction: At the 99.49 ( 38.2 fib) and 99.00 and 98.52 levels

Potential Profit take areas: At the 100.90 levels

MACDEE Divergence: No
Stochastic: Coming out of oversold

Counter Trades:

Potential Counter Trades: At the 100.90 level (WR1 pivot area)

Potential Profit take areas: At the 100.37 levels ( Main weekly pivot)

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 !!!

Notes:

Last week we closed lower than the opening of last week……however direction Indi is long on 4 hour and daily……that is why I fib the daily chart this week.

Correlation: Remember that the following pairs make out the `Euro Index Basket` – The Euro/Dollar, Euro/JPY, EURO/GBP and the EURO/CHF. (They all move in the same direction) Use the `Euro Index` for extra confirmation and information to trade the basket pairs. If you don’t have the index on your platform…..download a demo account with Forex LTD at http://www.forexltd.co.uk/

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2) Euro/Dollar on the DAILY chart:

Difference between last week’s open/close: Plus 10 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

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.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 1.1138 and 1.0980 levels

Potential area to look for reaction: At the 1.1212 ( 38.2 fib) and 1.1107 levels.

Potential Profit take areas: At the 1.1359 (55 EMA) and 1.1452 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 1.1452 and 1.1463 levels

Potential Profit take areas: At the 1.1396 ( main weekly pivot) and 1.1364 levels  (4 hour 55 EMA)

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 !!!

Notes:

We are very flat on the 4 hour chart…….and like the Euro Index I fib the daily chart to get the zone for the week.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the Euro Index, Euro/JPY and the Euro/GBP. Be careful; don’t take the same trades on these four pairs at the same time!

Also remember: This pair is `NEGATIVE CORRELATED` (moving in the opposite direction) as the Dollar/CHF pair. Be careful; DO NOT OVER EXPOSE YOUR ACCOUNT BY PLACING OPPOSITE TRADES ON THESE TWO PAIRS.

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3) Euro/JPY on the 4 hour chart:

Difference between last week’s open/close: Min 376 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

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.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 124.95 and 126.15 levels

Potential area to look for reaction: At the 124.47 9 (main weekly pivot and 38.2 fib) and 124.78 and 125.77  levels.

Potential Profit take areas: At the 122.55 and 121.58 levels

MACDEE Divergence: No
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 121.58 levels

Potential Profit take areas: At the 124.47 ( main weekly pivot)

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 !!!

Notes:

Currently in no man’s land…….wait for price to come to your area !!

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the Euro Index, Euro/USD and the Euro/GBP. Be careful; don’t take the same trades on these four pairs at the same time!

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4) Euro/GBP on the 4 hour chart:

Difference between last week’s open/close: Plus 60 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

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.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 0.8038 and 0.7998 levels

Potential area to look for reaction: At the 0.8009 and 0.8000 levels.

Potential Profit take areas: At the 0.8085 and 0.8100 levels

MACDEE Divergence: No
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 0.8117 and 0.8138 levels.

Potential Profit take areas: At the 0.8049 levels. (main weekly pivot)

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 !!!

Notes:

Price currently sitting on the 4 hour 55 EMA …….while the WS1 pivot holds at 0.7981 my bias will be to look for long set ups.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the Euro Index, Euro/Dollar and the Euro/JPY. Be careful; don’t take the same trades on these four pairs at the same time!

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5) GBP/Dollar on the DAILY chart:

Difference between last week’s open/close: Min 97 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

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.

Notes:

Last week price broke that triangle I showed you on the Tuesday to the downside…….price pulled back now and currently hitting the 4 hour 200 EMA and monthly main pivot with the daily 55 EMA just above at 1.4277. So this can be a huge roadblock for this pair so possible short set ups from 1.4236 might be on the cards…..

If you drop to the 4 hour chart and fib it….then price is currently at the 75% fib with a MACDEE that is rolling over and an overbought stochastic so more reasons

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the GBP/JPY pair. Be careful; don’t take the same trades on both pairs at the same time!

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6) GBP/JPY on the 4 hour chart:

Difference between last week’s open/close: Min 585 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

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.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 155.62 and 157.60 levels

Potential area to look for reaction: At the 154.75 ( main weekly pivot and 155.80 and 156.61 levels.

Potential Profit take areas: At the 153.68 and 149.91 levels.

MACDEE Divergence: No
Stochastic: No man`s land

Counter Trades:

Potential Counter Trades: At the 151.65 and 149.91 levels

Potential Profit take areas: At the 154.75 levels.(main weekly pivot)

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 !!!

Notes:

Big drop last week on this pair……possible roadblock at the weekly main pivot but I will prefer a pullback to 155.80 where I will re look to short.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the GBP/Dollar pair. Be careful; don’t take the same trades on both pairs at the same time!

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7) Aussie/Dollar on the DAILY  chart:

Difference between last week’s open/close: Min 103 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

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.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Direction: Long
Potential trading zone: Between the 0.7415 and 0.7261 levels

Potential area to look for reaction: At the 0.7490 ( 38.2 fib) and 0.7444 and 0.7346 levels.

Potential Profit take areas: At the 0.7723 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 0.7723 and 0.7759 levels.

Potential Profit take areas: At the 0.7490 levels

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 !!!

Notes:

Looks like we might be ranging between 0.7490 and 0.7723 so keep an eye on these levels

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8) Aussie/JPY on the DAILY chart:

Difference between last week’s open/close: Plus 50 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

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.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 83.24 and 84.51 levels

Potential area to look for reaction: At the 82.74 and 83.24 and 83.87 levels.

Potential Profit take areas: At the 81.00 and 80.68 and 79.84 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 79.84 levels.

Potential Profit take areas: At the 82.74 levels

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 !!!

Notes:

Keep an eye on the main weekly pivot at 82.74 but I will prefer if we can get back up to 83.23 and 83.87  where I will re look to short.

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the AUD/USD pair. Be careful; don’t take the same trades on both pairs at the same time!

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9) USD/JPY on the 4 hour chart:

Difference between last week’s open/close: Min 333 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

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.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 109.66 and 110.66 levels

Potential area to look for reaction: At the 109.23 ( main weekly pivot) and 109.81 levels.

Potential Profit take areas: At the 108.00 and 107.67 and 106.76 levels

MACDEE Divergence: Yes !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 107.67 and 106.76 levels.

Potential Profit take areas: At the 109.23 ( main weekly pivot) levels.

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 !!!

Notes:

Looks like we might have a double bottom at 107.67 with MACDEE divergence so the pullback is on the cards……keep an eye on the weekly main pivot but I will prefer if we can get to the 109.81 level where I will re look to short.

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10) USD/CAD on the 4 hour chart:

Difference between last week’s open/close: Min 55 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

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.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 1.3051 and 1.3134 levels

Potential area to look for reaction: At the 1.3052 levels.

Potential Profit take areas: At the 1.2885 levels

MACDEE Divergence: No
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 1.2885 and 1.2800 levels.

Potential Profit take areas: At the 1.3052 levels.

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 !!!

Notes:

Currently at the WS1 pivot at 1.2885 with an oversold stochastic so possible support now for a counter trade back up to 1.3052 might be on the cards

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11) USD Index on the 4 hour chart:

Difference between last week’s open/close: Min 40 pips

GAP TRADING:

Did we open with a gap this week? No

Did the gap close? N/A

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.

Earth and Sky Trading Zone for the week:

Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the “adjusted” Earth and Sky Trading Zones for the week.

Price is under the 200 EMA
34 EMA (sky) is under the 55 EMA (earth)
Direction: Short
Potential trading zone: Between the 94.37 and 94.69 levels

Potential area to look for reaction: At the 94.38 and 94.55 levels.

Potential Profit take areas: At the 93.74 levels

MACDEE Divergence: No
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 93.74 and 93.34 levels.

Potential Profit take areas: At the 94.38 levels.

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 !!!

Notes:

Possible support at the WS1 pivot coming up but be careful…..if we make a new low follow it with your fib to get the adjusted zone for the week……also keep an eye on what the Euro Index is doing

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Please remember we are NOT a “tipping service.” What we aim to teach you here at fxmentorpro is how to look for trade set ups using different methods, taking you’re trading to the next level.

Have a good one mates

Pierre 😛

`Learn from yesterday, Live for today and hope for tomorrow`

You dont need to walk alone…
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 “Get Started Today” Button below

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