May 2 – May 7 2021 RESULTS UPDATED
AUDUSD – Good to see this trade play out for 140 pips to highs. Four hour chart gives us a failure test entry at .7722
BTCUSD – Price broke through our zone and held at the lower swing pivot. Outside bar on the four hour chart gave a buy at 55450 for a 4100 dollar run.
EURUSD – Initially looking short after the momentum push down but needed to see a pullback. Instead, we saw basing with lower volatility candles which pointed to upside. The failure test on the daily was an entry to shift long above 1.2026 which led to 140 pips upside.
NZDUSD – This was a perfect pullback trade. Price came into our zone, put in an inside candle (this is a consolidation) and playing the break upside of the inside candle at .7149. Price ran 149 pips to highs.
Some out of the blue momentum moves last week were tough to watch go but with no setup, we have to take a pass. We also had a rare stop out on the EURCHF off a failure test entry for a short. We did end up with potential of 259 pips off a handful of setups.
This week we find a lot of currency pairs either ranging or momentum move has already happened. Those will often times head into a trading range which, at the start, can be tough to trade.
April 25 – April 30 2021 RESULTS UPDATED
AUDCAD – Started off the week looking long off the four hour chart however we saw the a-b=c-d correction setting up. What turned out looking long turned into a short below .9653 for 198 potential pips
CADCHF – We were looking for further weakness however price just bolted to the upside.
EURCHF – Monday gave us a failure test of highs which sets up a short. Short-lived and a quick stop out for -66. That, again, setup up another short that led 47 pips downside.
EURNZD – Price ranged
GBPUSD – No trade
NZDCAD – Price smashed through our level with no long setup
NZDUSD – Quick pop off the break upside for 80
479 pips potential with the Forex setups from last week. Another week showing why using the four hour chart, gives you more opportunity for entries on the daily chart setups. These setups are no different as you will want to use four hour charts to see how price is evolving.
No crypto setups. Right now, Crypto is so volatile that you have to be nimble on a daily basis in order to make profit.
Thanks so much ❤️❤️📈📈
This is absolutely wonderful
Hi SD.. I’m Bkay, thank you so much for the information you share with us new traders, highly appreciated…I was wondering as a price action trader, what timeframes do I have to use to check for reversal candlestick patterns?
Thanks for the words. All timeframes are important depending on your style. For me, daily charts, four hour charts, and a bigger picture weekly/monthly are used.
Thanks.
@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