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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Updates from Survey Suggestions:
An updated File Pack was released last 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 and will be releasing presentation #3 this week, of the new price action candlestick series requested from multiple members in the room. CLICK HERE
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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 all 3 TP levels
AUDUSD hit all 3 TP levels
EURUSD hit all 3 TP levels
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 – long/buy
TP1 – 1.289697
TP2 – 1.291780
TP3 – 1.294013
We ended the week with:
Semafor – buy sun
100 hma and 14 hma – price is below 100 and above 14
200 sma – price has a ways to move toward
Oscillator – exhausted to downside
RSI – exited and re-entered 30 line
AUDUSD – long/buy
TP1 – 0.761002
TP2 – 0.762083
TP3 – 0.763098
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
EURUSD – short/sell
TP1 – 1.138519
TP2 – 1.136751
TP3 – 1.134872
We ended the week with:
Semafor – sell sun
100 hma and 14 hma – price is below
200 sma – uptrend
Oscillator – flipped to downside
RSI – exited and re-entered 70 line
USDCHF – long/buy
TP1 – 0.964699
TP2 – 0.965687
TP3 – 0.966711
We ended the week with:
Semafor – buy sun
100 hma and 14 hma – price is below 14 and above 100
200 sma – neutral
Oscillator – flipped to upside
RSI – neutral
See you Monday and cheers my friends 🙂
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