Marc Waldon

PATIENCE IS POWER

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PATIENCE IS POWER

PATIENCE IS POWER

Good morning everyone.

My name is Leo Plasman. Most of you know me as Crosby, my trader name. Pierre asked me to put my Earth &Sky analysis for this week in the blog. It is a challenge and I hope that my analysis can help your trading for the week and will be a solid base for Pierre’s catch up on Friday.

A little background
I am from The Netherlands and a member of ForexMemberPro since 2013. After going through the educational material on this website and following the different blogs, I decided to use Pierre’s E&S method for my Forex trading. After a few months of trading on a demo account I started trading with a live account.

I am a full time trader now trading Forex with E&S and Gold, Oil and a few Stock indices with Omar’s Triple Threat.

I have experienced that making money with trading depends first of all heavily on a consistent use of a method (not necessarily E&S) and secondly on all kinds of psychological aspects. The most difficult aspect for me has always been and still is to be patient. As a constant reminder I have printed the following text, which I framed and is hanging right in front of me on the wall.

PATIENCE IS POWER

Patience is NOT the absence of action;
rather it is “timing”.
It waits on the right moment to act,
for the right reasons
and in the right way.

I hope that my write up will be of any use for you to trade this week. I will be available in the forum during the London and NY sessions.

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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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 1) Euro Index on the DAILY chart:

Difference between last week’s open/close: Plus 19 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 98.62 and 97.92 levels

Potential area to look for reaction: At the 98.95/93 ( 4H 200 EMA and 38.2% ), the 98.80, 98.66 and 98.28 levels.

Potential Profit take areas: At the 100 level

MACDEE Divergence: No
Stochastic: Overbought

Counter Trades:

Potential Counter Trades: At the 99.69 and 100.02

Potential Profit take areas: At the 98.91 level

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 is currently held up by the 4H 55 and weekly pivot, but I prefer a pull back to at least the 4H 200. As long as the daily 200 EMA at 98.28 holds I will be looking for long set ups.

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: Min 118 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 1.1083 and 1.0952 levels

Potential area to look for reaction: At the 1.1107 and 1.1087/74 levels.

Potential Profit take areas: At the 1.1233, 1.1344 levels

MACDEE Divergence: No
Stochastic: No man`s land

Counter Trades:

Potential Counter Trades: At the 1.1233 and 1.1344 levels

Potential Profit take areas: At the 1.1100 level

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 is currently held up by the 4H 55 and weekly pivot, but I prefer a pull back to at least the 4H 200. As long as the daily 200 EMA at 1,1074 holds I will be looking for long set ups.

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: Plus 92 pips

GAP TRADING:

Did we open with a gap this week? Yes

Did the gap close? No

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 125.96 and 125.31 levels

Potential area to look for reaction: At the 126.17/14 and 125.96 levels.

Potential Profit take areas: At the 127.24 and 127.90 levels

MACDEE Divergence: Yes
Stochastic: Overbought

Counter Trades:

Potential Counter Trades: At the 127.24 and 127.90 levels

Potential Profit take areas: At the 126.17 level

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 broke out of a triangle last Friday and is now in line with the other basket pairs.

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 101 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 0.7868 and 0.7829 levels

Potential area to look for reaction: At the 0.7862 and 0.7847 levels.

Potential Profit take areas: At the 0.7945 and 0.7962 levels

MACDEE Divergence: No
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 0.7945 and 0.7962 levels.

Potential Profit take areas: At the 0.7878 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: 

Price is in the trading zone but watch the other basket pairs. They have still some distance to go to the trading zone. If they drop this pair will follow. In that case I will be looking to long if we reach WS1 or the 4H EMA 200

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 4 hour chart:

Difference between last week’s open/close: Min 326 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 1.4261 and 1.4363 levels

Potential area to look for reaction: At the 1.4254 and 1.4311 levels.

Potential Profit take areas: At the 1.4059 and 1.3973 levels

MACDEE Divergence: No
Stochastic: Overbought

Counter Trades:

Potential Counter Trades: At the 1.4059 level.

Potential Profit take areas: At the 1.4218 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: 

While the 4 hour 200 EMA holds … my bias is to look for shorts.

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 DAILY chart:

Difference between last week’s open/close: Min 87 pips

GAP TRADING:

Did we open with a gap this week? Yes

Did the gap close? No

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 161.27 and 162.69 levels

Potential area to look for reaction: At the 161.72 and 161.94 levels.

Potential Profit take areas: At the 158.45 and 157.03 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the 158.67 and 158.45 levels

Potential Profit take areas: At the 160.08 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 in the trading zone finding resistance at he 4 hour 200 EMA.

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!

PATIENCE IS POWER

 7) Aussie/Dollar on the DAILY chart:

Difference between last week’s open/close: Min 93 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 0.7395 and 0.7251 levels

Potential area to look for reaction: At the 0.7400, 0.7353 and 0.7312 levels.

Potential Profit take areas: At the 0.7557 and 0.7649 levels

MACDEE Divergence: No
Stochastic: No man’s land

Counter Trades:

Potential Counter Trades: At the MR3 pivot at 0.7557 level

Potential Profit take areas: At the 0.7407 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: 

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

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 8) Aussie/JPY on the 4 hour chart:

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

GAP TRADING:

Did we open with a gap this week? Yes

Did the gap close? No

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: 

Looking at the 4 hour chart we are stil ranging between the 4 hour EMA 84.03 and the daily 200 EMA at 86.06. I am looking to trade if price breaks and closes outside one of these levels.

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 DAILY chart:

Difference between last week’s open/close: Plus 197 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              Notes: 

Looking at the daily chart …. then it looks like we might be ranging between 111.00 at the bottom and the 115.00 level at the top, where we also find the WR2 and the monthly pivot. Trades can be taken between these levels OR when price breaks out of this area.

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 10) USD/CAD on the DAILY chart:

Difference between last week’s open/close: Plus 225 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 1.3237 and 1.3395 levels

Potential area to look for reaction: At the 1.3311 and 1.3381 and 1.3399 levels.

Potential Profit take areas: At the 1.3018 and 1.3000 and 1.2923 levels

MACDEE Divergence: No
Stochastic: No man`s land

Counter Trades:

Potential Counter Trades: At the 1.3085 and 1.2923 levels

Potential Profit take areas: At the 1.3197 and 1.3300 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 we are camping out at the 4 hour 55 EMA at 1.3197 and WPV. Like the correlated USDX price might visit the 200 EMA where I will look to short.

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

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 11) Dollar Index on the 4 hour chart:

Difference between last week’s open/close: Plus 127 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 96.56 and 97.55 levels

Potential area to look for reaction: At the 96.66 and 96.87 and 96.95 levels.

Potential Profit take areas: At the 94.99 and 93.32  levels

MACDEE Divergence: No
Stochastic: No man`s land

Counter Trades:

Potential Counter Trades: At the 95.00 and 94.57 levels

Potential Profit take areas: At the 95.89 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 we are camping out at the 4 hour 55 EMA at 96.01. Like the correlated USDCAD price might visit the 200 EMA where I will look to short.

Correlation: This pair is NEGATIVE CORRELATED (moving in the opposite direction) as the Euro Index!

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

Regards,

Leo

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