Hello everyone! Last week was another solid one in the room!
Members:
Pure Price Action Series – CLICK HERE to access
NEW ~ Price Action Candlestick Patterns Series – CLICK HERE to access
Pipsqueaks article additions – CLICK HERE to access
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An updated File Pack will be released this week. It includes 2 new files including the Foltron Dashboard and Foltron EA. These updated EAs include some fixes that were reported to our support team.
Charlie released presentation #2 of the new price action candlestick series requested from multiple members in the room. CLICK HEREÂ
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UNDERSTANDING THE P&A
Setup is from the Poppin’ Picaso strategy
Short/Sell vs Buy/Long – In the forex market, think of money as a commodity, you are buying a currency hoping that its value will increase, and if you are selling you are betting that it will decrease
TP Levels – A take–profit order (T/P) is an order used by currency traders specifying the exact rate or number of pips from the current price point where to close out their current position for a profit. The rate deemed to be the level where the trader wants to take a profit is sometimes referred to as the “take–profit point”.
What should my SL be? This is something that you will need to decide on. Just as I give you TP levels based on previous Support and Resistance, you will want to examine the screenshot or your charting platform and determine what SL you prefer based on those Support and Resistance levels.
Support & Resistance Levels – These are simply price levels or a range of prices that an asset doesn’t often go over (resistance) or go under (support).
Trail Stop – Click the link to learn what a trailing stop is
Semafor – This indicator appears as a green or red dot or sun symbol
100 hma and 14 hma – The hma is the hull moving average indicator. It is purple and turquoise for the 100 length and purple and green for the 14 length
200 sma – The sma refers to the Simple Moving Average with the length of 200. It appears white in the Poppin’ Picaso setup
Oscillator – The oscillator is the OsMa indicator in the second to lowest quadrant of the Poppin’ Picaso setup
RSI – The RSI appears in the lowest quadrant and refers to the Relative Strength Index
Last week’s results from the P&A were:
GBPUSD hit no TP levels
AUDUSD hit no TP levels
EURUSD hit TP levels 1 and 2
USDCHF hit all 3 TP levels
Prediction & Analysis for the upcoming week is as follows:
***As always…remember to move your SL as TPs are hit and even if TP3 is hit…continue to trail stop to achieve maximum profit potential***
We use the Poppin Picaso strategy for the weekly P&A. Based on the indicators at week end and general price action, we use the previous support and resistance levels to determine TP levels.
GBPUSD – short/sell
TP1 – 1.300210
TP2 – 1.298178
TP3 – 1.296147
We ended the week with:
Semafor – buy dot
100 hma and 14 hma – price is below 100 and above 14
200 sma – price has a ways to move toward
Oscillator – neutral
RSI – exited and re-entered 70 line
AUDUSD – short/sell
TP1 – 0.766937
TP2 – 0.765546
TP3 – 0.764201
We ended the week with:
Semafor – sell sun
100 hma and 14 hma – price is below 100 and above 14
200 sma – price has a ways to move toward
Oscillator – neutral
RSI – exited and re-entered 70 line
EURUSD – short/sell
TP1 – 1.140333
TP2 – 1.138881
TP3 – 1.137316
We ended the week with:
Semafor – sell sun
100 hma and 14 hma – price is above 14 and below 100
200 sma – price has a ways to move toward
Oscillator – neutral
RSI – exited and re-entered 70 line
USDCHF – long/buy
TP1 – 0.959475
TP2 – 0.960472
TP3 – 0.961543
We ended the week with:
Semafor – sell dot
100 hma and 14 hma – price is below 14 and above 100
200 sma – price has a ways to move toward
Oscillator – neutral
RSI – neutral
See you Monday and cheers my friends 🙂
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