WE TAKE A TOP-DOWN APPROACH IN OUR ANALYSIS. THE MONTHLY, WEEKLY AND DAILY TIMEFRAMES ARE OUR DIRECTIONAL CHARTS. WE THEN LOOK AT THE 4HOUR CHARTS FOR OUR SWING TRADING ENTRIES, WHILE THE 1HOUR AND 15MINS TIMEFRAMES ARE FOR OUR DAY TRADING ENTRIES
Target finally hit. Patience and discipline are key in this business
Target yet to be hit, but on track
Crude and Brent Oil broke out to the upside recently. Its made a retracement to retest the minor support area created during the move up. We expect this support to hold and a continuation of price to upside
Quick update GBPSGD
Price burst up at the open in a quick surge to reach the previous daily highs as earlier analysed
GBPSGD 9th May 2021
The Market closed on Friday 7th May 2021 with a correction retesting support on the daily timeframe. We expect support to hold and drive prices northward. On the 4hour chart, price is still trading below resistance. It will need to break above this resistance before you think of any longs. The bias from the daily timeframe standpoint is bullish when market opens on the 10th of May 2021 for a new trading week.
It took quite a while from the last posting, but 6hours later hour target has been hit. Once our entry criteria was met, we shorted this pair and once it was at a level that our plan says to move stops, we shift the stoploss to let the trade run risk-free until the target is hit. We don’t stay glued to the screen monitoring every move and stressing out, we let the market do its thing. Thats what trading is supposed to be about. That’s what we teach in our strategies. Remember, you are not paid for spending more hours on the computer screen; you are paid for trading the right way.
This is one of our trades we took on the GBPCAD. As seen below, our stops were moved to eliminate the risk and and let the trade run. Its just about to hit the target
The trade played out as analysed but didn’t reach the expected target. Depending on the entry timeframe, if you took the trade you should have been able to take some profit when price reached 1:1 R:R depending on your own strategy. As for us, it didn’t meet our minimal profit target and and it was a risk-free break-even trade according to our proprietary trade management rules. The other trades we took with the students are still running in comfortable profits but are yet to reach our targets, which is usually a minimum of 3:1 Reward:Risk as per our trading plan
NOKSEK 4th May 2021
On the weekly timeframe, there’s still room to the top for price to retest before any bearish moves. On the Daily timeframe, price moved impulsively to the upside and has now completed the retracement after testing the 50% Fibonacci area. On the four-hour timeframe, price is still trading below resistance. We would need price to break above this resistance first, then we will be looking to see if it meets our conditions for entry in the area of resistance turned support. The monthly, weekly and daily charts are our directional timeframes and they’re all currently indicating a bullish bias, while the four-hour time chart is our entry timeframe for swings, and the 1hour and 15min time charts are our day trading strategies
Price later brokeout of the consolidation and surged to the upside as originally analysed. The opposing bearish wedge never really took shape and price hit every predicted target
Nine days later, this pair is still struggling to break above resistance from a 4 hour perspective. From a Daily perspective, its moving correctively upwards after a downward corrective move. This is a bad sign from a swing trading perspective for those looking to long this pair. In fact, this corrective upward move has created on both the Daily and 4hour timeframes what is known as a bearish wedge which is a bearish pattern. It’s therefore extremely risky to be looking for buy opportunities even if it broke above the 4hour resistance as earlier analysed. Make no mistake, it can still move up, but its not worth the risk at the moment. So its better to remove it from the watchlist of those pairs we are looking to buy from a swing trading perspective. If you know how to trade wedges, you could instead look for shorts at the moment at the retest of the upper trendline or the breakout of the lower trendline if the market gives you bearish price action signals (you need to at least have a basic knowledge of price actoion candlestick patterns)
EURTRY 28th April 2021
Below are the three charts timeframes of EURTRY pair. On the weekly, price is trading above the support area. It currently bouncing off the support at the 61.8 retracement. The daily chart is clear. Price moved impulsively upwards over a course of 6days breaking every recent high to retest the previous 5months’ highs. Its currently retesting the support area and has just bounced off the the 61.8 and 50 fib levels. We’ll be watching the four hour chart for any possible long entry opportunities. but first, price needs to break out above the 4Hr resistance area. then we’ll apply our strategy to see if it fits our conditions for entries in accordance with our trading plan
After three days this pair is still failing to break below the 4hr ascending trendling which was acting as support. Price has now created some bullish structure and we cant consider it for our watchlist anymore.
EURAUD 20th April 2021
The weekly is trapped in a range and has just retested the highs of the range and we would expect it to retest the lows. The Daily is currently retesting minor daily resistance and we would expect it to hold for the move downward. However, there is an upward sloping trendline on the 4Hour that would act as support. If price can break below it, we would expect a small reversal to retest it before a continuation to the downside, but it has to be broken first for any lower moves to happen.
Price broke above above the 4hr resistance and is presently testing the highs as earlier analysed.
NZDCHF 20th April 2021
Price just broke above the Daily resistance area and is currently retesting it as support. Its however still below the 4hr resistance. If price can break above the 4hr resistance, the Dail and 4Hr will match directionally and we would expect an upward move of prices to at least retest the daily highs at the very least
Price broke above 4hr resistance and quickly took off as we had earlier analysed
NZDJPY 20th April 2021
Price broke above weekly resistance and is currently retesting the weekly and minor Daily support areas. Its however below the 4hour resistance. If it can break above this 4hr resistance, we expect an upward price move
As earlier analysed, price broke above the 4Hr resistance and went up to test the daily highs as per our analysis
EURSGD 19th April 2021
This is the EurSgd pair. The monthly and daily charts are showing a bullish bias. These are directional timeframes. On the 4hr chart however, price is at resistance. If it can break above this resistance, we could add it to the watchlist for possible long entries.
This high impact news has just come out affecting the dollar negatively, at least in the short term. This affects the sentiments of traders of the GBPUSD with GBP gaining strength in the short term. We were waiting for the dollar to show some more strength but it never happened so we couldn’t trade it in the direction of our bias. And for now its definitely unlikely our trade entry conditions will be met with the current sentimental weakness so we might as well get it off our weekly watchlist. Price would need to break back below some support levels before we put it back on our watchlist, probably next weak. For now, we’ll keep an eye on it to see if the Daily resistance holds to maintain our bearish bias of the pair
Update: GBPUSD 16th April ’21
The Daily area seems to be holding at the moment, the right shoulder is completed. We now have it on our entry TF in the Swing trading room, waiting for our entry conditions to ride a potential move to the downside
GBPUSD 15th April 2021
We are adding this pair on our Watchlist. The monthly, weekly and daily timeframes all show a bearish bias. We expect the monthly to retrace to at least the 38.2 fib, the weekly is currently retesting resistance and we are watching if it will hold. The Daily TF is showing a potential weird Head and Shoulder. Should the weekly supply area hold when the daily H&S completes, we will be watching with students for an entry in the marked area for a move to the downside if it meets our entry criteria
Update: GBPAUD 15th April ’21
Market played out as earlier analyzed. Daily resistance held and price crashed to the downside. Hope you took advantage of our free analysis and capitalized on the move for some good pips as we usually do with students
GBPAUD 12th April 2021
After breaking below monthly support, price moved correctively to retest the support now turned resistance. The weekly has just broken and closed below support. On the daily there was a break of support and now price is retesting the support now turned resistance. If the resistance holds, we expect a bearish move. We will then add it to our watchlist and look for our entry conditions and signals in the swing trading room
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