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:
Charlie released presentation #1 2 weeks ago of the new price action series requested from multiple members in the room. CLICK HERE
Presentation #2 will be released this week.
Video updates will be occurring this month throughout the website for multiple topics including MetaTrader 4, strategies, installation, EAs and more as requested from members.
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 TP levels 1 and 2
EURUSD hit TP levels 1 and 2
USDCHF hit TP levels 1 and 2
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 – 1.286921
TP2 – 1.285551
TP3 – 1.284086
We ended the week with:
Semafor – sell sun
100 hma and 14 hma – price is below
200 sma – neutral
Oscillator – neutral
RSI – neutral
AUDUSD – short/sell
TP1 – 0.743191
TP2 – 0.742204
TP3 – 0.741118
We ended the week with:
Semafor – sell dot
100 hma and 14 hma – price is above 100 and below 14
200 sma – neutral
Oscillator – exhausted to upside
RSI – exited and at 70 line
EURUSD – short/sell
TP1 – 1.125425
TP2 – 1.123165
TP3 – 1.120603
We ended the week with:
Semafor – sell sun
100 hma and 14 hma – price is above 100 and below 14
200 sma – neutral
Oscillator – exhausted to the upside
RSI – exited and at 70 line
USDCHF – long/buy
TP1 – 0.964420
TP2 – 0.966843
TP3 – 0.969266
We ended the week with:
Semafor – buy sun
100 hma and 14 hma – price is below 100 and above 14
200 sma – neutral
Oscillator – exhausted to downside
RSI – exited 30 line
See you Monday and cheers my friends 🙂
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