Jan 24 – Jan 29 2021
Results
AUDCAD – We were looking to get long but as stated on the setup chart, we were watching the .9850 level where we expected some issue. 2 longs on this pair off the four hour. Range break on Jan 26 with reversal candle for 33 pips to 9850. No short trigger. Outside candle on Jan 28, buy stop highs for 51 pip run to 9850. Missed the outside bar for the short.
AUDNZD – Price melted to the downside.
ETHUSD – Ranged
EURCAD – Got our basing and our target was hit to the pip. 75 pips to target from basing break.
EURJPY – Didn’t quite make highs but 115 pip run from daily reversal
EURUSD – Price held at our noted level and while we didn’t get a trend change, price came close to our low target for 93 potential
GBPNZD – This setup was for range trading. Price dropped to the support from the middle of range for 40 pips. Support rejected for 107 to opposite side. Price did travel higher but this was range trading.
NZDCAD – There was the upside we wanted for a long but could not get an entry until later in the week. Reversal candle on four hour led to 46 upside potential
NZDUSD – Price did break higher but this chart was hard to read on the four hour chart.
With 484 pips in FX and a Bitcoin entry that gave us a $5000 run, not a bad week given the change in the presidency in the United States. We have a few setups that can go either way this week as possible trend changes are underway. This week, I brought in ETHUSD and BTCUSD is still trying to find legs to the upside. Check out GBPNZD from last week as it gave trades in both directions.
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