Jan 2 – Jan 8 2021
How did these play out?
NZDJPY – Looking pullback long on this pair after that breakout. Pretty simple and pain free trade for 122 pips upside
NZDCAD – Short lived pop upside for 79 pips
GBPUSD – We were looking long but price had put in a sloppy bull flag
GBPJPY – Couldn’t even get a pop above our zone
EURJPY – No entry until we had an obvious reversal off the four hour chart On Jan 5 for a 119 pip run in price.
CADJPY – We were looking to short the rally and the entry was the trend line break on the four hour chart. Price fell 44 pips before a huge rally to the upside.
AUDUSD – Price gave us a one day pullback (to support) and the thrust down on the four hour chart was too large to trade off of support. Dialed down to the hourly chart so we could draw a trend line. Got the break and price rose 140 to the upside.
AUDCAD – One day pullback and price ranged. Buy break of four hour range which gives you room to adjust if price rejects off of highs (buying breakout on lower time frames is a viable entry trigger). 82 upside pips.
Not a bad way to end the year with 316 pips potential in our four setups. Trade entries were simple trend line breaks or obvious reversal candles.
As we head into 2021, it’s a good time to review your trading plan and see what worked and what didn’t.
Going into 2021, we will continue to provide you with setups that you can use to develop your own trading approach.
NZDJPY
NZDCAD
GBPUSD
GBPJPY
EURJPY
CADJPY
AUDUSD
AUDCAD
@SD
Many thanks for replying and I would just like to add that for someone who is 53 years old…..starting out all over again I wanted to say thankyou for the amount of information you have provided for the likes of me who are just starting out.
Good luck to you and all that follow your trade setups as for me I am going to be practicing until I know, understand the tools I will be using (including charting software), and develop my edge as a PA trader.
Best
Hey Jay. You are welcome. Take your time, understand why I choose these setups and the trade triggers.
Is there a way that the charts with recommendations can be enlarged or blown larger so that the level numbers are visible clearly. Thank you. Mohann
You don’t need the exact price point. Just find the location on the chart and draw a box. You used to be able to click on the image and get the larger….but a few sites were using my images on their sites. I disabled that function.
Thank you for your analysis.
Hi SD,
I have been following your trade set ups. To be honest, I like your approach which has taught me alot in this market. Great work
Glad to read that John. What’s great about the setups I pick and the trade triggers on the lower time frames, there’s usually a trade that works (even a little) or a trade that never triggers. Really helps win loss rate which, although not the only measure of success, it’s a good starting point.
Hi SD,
I hope I find you well.
I can now easily find the triggers and trade successfully.
Now, I want to spot the setups for the coming week on my own and compare what I have with yours.
Can you tell me what should I look for or how should I go about it.
Your help in this regard will be much appreciated.
Hey Shingi. Glad to see that finding the triggers has become easier. You probably have about 3 you can use on the lower time frame trigger chart – trend line breaks, breakouts, failed tests of lows/highs. If you go back over all he setup charts, you will start to see a theme as to why I pick the ones that I do. Much better way to “get it” as opposed to me explaining it
Really nice content. I’m learning a lot on how to get in to the markets at the right levels. Cheers.
Great setup
Hi SD, do you have a social media platform where you traders signals so I that I can know exactly when to take a trade. Thanks
And great work, you’re the best at what you do
Hey David. Thanks for the words. No, I don’t use social media. Weird, I know! Your goal should be to find trade triggers that work for you. So many ways to do that – indicator, reversal candle, breakouts on lower time frames, trend line breaks……..
Hi SD, I took a 2/1 profit on NZDJPY thanks for that and look forward to the coming weeks setups
Great work Oliver.
Please,I need some of the indicators that you mentioned in ur scalping trading strategy.
(1)Fisher Indicator
(2)supertrendTrend Indicator.
kindly help on how to get them.Because it’s not in the indicators list on my MT4 platform.
You are going to have to search for them. I don’t use MT4 but I am sure they are coded somewhere. Google, can be your friend: https://www.best-metatrader-indicators.com/super-trend/
Hi, I’m a newbie. Which charting software do you use or would recommend
I use Tradingview for all my charts. There is a free version but since I trade stocks and futures as well, I use the pro plan and data add-ons.
Hi SD – Happy New year!!
How did last week’s setups do?
https://forextradingstrategies4u.com/forex-trading-signals-5/
Great setups