Marc Waldon

Earth & Sky Forex Trading System

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Earth & Sky Forex Trading System

Earth & Sky Forex Trading System

earth and sky forex trading systemHi, fellow forex trading mentor, South African, Pierre Du Plessis has created his “Earth & Sky Trading System”, based around my own and you can see what I am looking to trade each and every week as well as my results. Check out my blog posts here: CLICK HERE To See My Blog

The following is a copy of the post Pierre made for members of our www.forexmentorpro.com the 5* rated, low cost forex trading program. In which he explains his trading plan for the week ahead, using his system and other technical tips and analysis.

Just to forewarn you, Pierre has his own inimitable style and as English is not his first language, his spelling isn’t always perfect BUT this guy knows how to trade and loves to teach others. He runs our members only forum and is happy to share his analysis, tips and advice every trading day.

This is his post from Tuesday the 14th April 2015:

Good morning

Hope you are all well and that you are feeling `pip full` for the week ahead!! 🙂

Last week Tuesday in my analysis I said that I will be keeping an eye on the Euro Index and the negative correlated Dollar Index to set the pace.

The main trends for me were still in place………..and I also mentioned that we had on the Euro Index Daily chart a M formation  (double top)……..and on the Dollar Index a formation  (double bottom) coming up over the next week or so………

Let’s have a look at the before and after photo clips so that you can learn from them:

BEFORE: 

Earth & Sky Forex Trading System

AFTER:

Earth & Sky Forex Trading System

The more screen time you put behind you the easier it gets……so don’t beat yourself up if you didn’t spot it before hand!!

Earth & Sky Forex Trading System

AUSSIE/DOLLAR `EARTH AND SKY` TRADE:

I also showed you that I wanted to short the Aussie/Dollar last week and showed you the reasons why!! Well I took the short and by late Friday this trade was 50 odd pips in the green. I don’t like leaving trades open over a weekend but with a breathing space of 50 pips, I gave it a shot. 👿

Early Monday morning in the Asian session price had a nice drop and at one stage I was up 160 odd pips missing out on my profit take area with 10 pips or so…….unfortunately price had a bit of a pull back and kicked me out for 120 odd pips…..but it was not a bad trade at all. 🙂

Best part………..I showed you beforehand what I was looking for and why!!!

LAST WEEKS CHARTS:

Earth & Sky Forex Trading System
Earth & Sky Forex Trading System

 

THE RESULTS: 

Earth & Sky Forex Trading System
Earth & Sky Forex Trading System in action

 

I know some of you did get on this bus……..well done!!

For those that didn’t spot `THIS` ride…..don’t stress about it, there will be more AS LONG AS YOU……………….. 

Earth & Sky Forex Trading System

…………………………………………………………………….

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!!! 👿

……………………………………………………………………………..

Earth & Sky Forex Trading System

…………………………………………………………………………….…

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. 

Remember, if price don’t pull back on the pairs you trade and make new lows/highs follow price with your fib to get the adjusted Earth and Sky Trading Zones for the week.

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.  

……………………………………………………………………………….

Ok Pierre – Enough talk…..show us what is cooking in the Forex Kitchen this week!!

…………………………………………………………………………………

 1) Euro Index on the 4 hour chart:

Difference between last week’s open/close: Min 215 pips

Did we open with a GAP? No

Earth and Sky Trading Zone 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 95.91 and 96.68 levels
Potential area to look for reaction: At the 95.55/71/80 levels as we have loads happening there and 96.30

Potential Profit take areas: At the 94.16 and 93.23 levels

MACDEE Divergence: YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 94.16 and 93.23 levels

Potential Profit take areas: At the 95.80 level

Notes: Price is currently sitting at the WS1 pivot…..however if we make new lows without the pullback, follow it with your fib to get the adjusted Earth and Sky zone for the 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/USD on the 4 hour chart:

Difference between last week’s open/close: Min 387 pips

Did we open with a GAP? No

Earth and Sky Trading Zone 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 1.0779 and 1.0907 levels

Potential area to look for reaction: At the 1.0718/37/48 levels as we have loads happening there

Potential Profit take areas: At the 1.0544 and 1.0438 levels

MACDEE Divergence: YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 1.0438 and 1.0269 levels

Potential Profit take areas: At the 1.0718 level

Notes: If we make new lows – follow it with your fib the get the adjusted Earth and Sky trading 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.

……………………………………………………………………………….………

3) Euro/JPY on the 4 hour chart:

Difference between last week’s open/close: Min 320 pips

Did we open with a GAP? No

Earth and Sky Trading Zone 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 128.77 and 130.03 levels

Potential area to look for reaction: At the 128.66/76 and 129.40 and 130.00 levels.

Potential Profit take areas: At the 126.00 and 124.56 levels

MACDEE Divergence: YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 126.02 and 124.56 levels

Potential Profit take areas: At the 128.66 level

Notes: Price currently sitting at the WS1 pivot…..if we break to the downside follow it with your fib to get the adjusted Earth and Sky zone for the week.

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!

…………………………………………………………………………………..…..

4) Euro/GBP on the 4 hour chart:

Difference between last week’s open/close: Min 123 pips

Did we open with a GAP? No

Earth and Sky Trading Zone 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 0.7279 and 0.7329 levels

Potential area to look for reaction: At the 0.7265 and 0.7281 levels.

Potential Profit take areas: At the 0.7189 and 0.7132 levels

MACDEE Divergence: No
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 0.7189 and 0.7132 levels

Potential Profit take areas: At the 0.7265 level

Notes: Price is currently sitting at the WS1 pivot at 0.7189 – if we make a new low follow it with your fib to get the adjusted Earth and Sky zone for the week.

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!

……………………………………………………………………………………….

5) GBP/USD on the 4 hour chart:

Difference between last week’s open/close: Min 286 pips

Did we open with a GAP? No

Earth and Sky Trading Zone 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 1.4775 and 1.4879 levels

Potential area to look for reaction: At the 1.4737 (main weekly pivot and 38.2 fib) and 1.4775 levels

Potential Profit take areas: At the 1.4568 and 1.4491 levels

MACDEE Divergence: YES!!!!!!!!!!!!!!!!!!!!!
Stochastic: Coming out of oversold

Counter Trades:

Potential Counter Trades: At the 1.4491 and 1.4343 levels

Potential Profit take areas: At the 1.4737 level

Notes:  Keep an eye on the weekly main pivot and 38.2 fib this week at 1.4737 as it can be the roadblock for the week.

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 144 pips

Did we open with a GAP? No

Earth and Sky Trading Zone 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 177.28 and 178.27 levels

Potential area to look for reaction: At the 176.97 and 177.28 and 178.25 levels

Potential Profit take areas: At the 174.64 levels

MACDEE Divergence: YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 174.64 and 173.36 levels

Potential Profit take areas: At the 176.97 level

Notes:  Remember – if we make a new low without the pullback, follow price with your fib to get the new Earth and Sky zone for the week.

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!

……………………………………………………………………………………….

7) AUD/Dollar on the 4 hour chart:

Difference between last week’s open/close: Plus 23 pips

Did we open with a GAP? No

Earth and Sky Trading Zone 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 0.7645 and 0.7692 levels

Potential area to look for reaction: At the 0.7651 and 0.7660 even as high as 0.7692 levels.

Potential Profit take areas: At the 0.7581 and 0.7553 levels

MACDEE Divergence: No
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 0.7581 and 0.7553 and 0.7498 levels

Potential Profit take areas: At the 0.7660 level

Notes: Be careful with counter longs.

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) AUD/JPY on the 4 hour chart:

Difference between last week’s open/close: Plus 131 pips

Did we open with a GAP? No

Earth and Sky Trading Zone 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 91.87 and 92.45 levels

Potential area to look for reaction: At the 91.83/95 and 92.45 levels.

Potential Profit take areas: At the 90.75 level

MACDEE Divergence: No
Stochastic: Oversold

Counter Trades:

Potential Counter Trades: At the 90.75 and 89.39 levels

Potential Profit take areas: At the 91.91 level

Notes: I will prefer a pullback to at least 91.83 where I will be looking to short again.

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!

………………………………………………………………………………………

9) USD/CHF on the 4 hour chart:

NOTES: I am not touching any CHF pairs at the moment.

……………………………………………………………………………………….

10) USD/JPY on the WEEKLY chart:

Difference between last week’s open/close: Plus 133 pips

Did we open with a GAP? No

Notes: I am keeping an eye on the weekly chart at the moment. Looks like we might have a top at the MR1 pivot at 121.89……what concerns me is the MACDEE divergence we have here on the BIG time frame suggesting that we might be in for a deep pullback so take note.

It’s a little concerning as we have a possible ascending triangle on our hands suggesting that price might trend higher once we break the 121.89 level…….but then on the other hand we have MACDEE divergence suggesting a deeper pullback……so conflict here so we just need to wait and see which trend line is going to break !!!

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11) USD/CAD on the WEEKLY chart:   

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

Did we open with a GAP? No

Notes:  I am keeping an eye here too on the weekly chart……we broke some big EMA`S to the downside over the last 3 weeks BUT price can’t manage to break the 1.2351 level to the downside. Looks like we trending sideways with the top at 1.2840 and bottom at 1.2351. So look out for possible bounce trades from these levels!!

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!

……………………………………………………………………………………….

12) USD Index on the 4 hour chart:

Difference between last week’s open/close: Plus 271 pips

Did we open with a GAP? No

Earth and Sky Trading Zone 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 98.17 and 97.25 levels

Potential area to look for reaction: At the 98.60/46 (38.2 fib) and 97.71 levels.

Potential Profit take areas: At the 100.00 and 100.58 levels

MACDEE Divergence: YES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Stochastic: Overbought

Counter Trades:

Potential Counter Trades: At the 100.58 level

Potential Profit take areas: At the 98.46 level

Notes:  We have MACDEE divergence and an overbought stoch warning us there is a pullback on the cards………….so take note!!!

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.

If you would like the chance to try out our 5* rated forex mentor program for just a $1, receive analysis like this and talk with me in the members only forum, CLICK HERE for your $1 7 day trial. You won’t regret it 🙂

Have a good one mates

Pierre 😛

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

Remember to make the video clip bigger to see the levels more clearly!  

 

Earth & Sky Forex Trading System

 

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