EUR/USD
Weekly Trend direction: Bearish
Weekly trend reversal level: 1.4085
Key G7 resistance levels: 1.3580, 1.3620/50, 1.3710, 1.3760/80
Counter-trend and scalping opportunities:
Strategy: Whilst below the weekly trend reversal level sell rallies to resistance levels after an entry signal.
Today’s trade suggestion: The euro’s fortunes have reversed quite dramatically, and we have a very bearish pattern on all chart time frames. We’ll look to sell the euro into resistance levels after pullbacks. This is not a good time to be picking bottoms and trading counter-trend. There are very few clear support levels below us and we have just broken below major range support.
Update 17 November: General dollar strength has sent currencies crashing lower as expected, and the euro has major support at 1.3450. We continue to look to sell into rallies, with resistance levels overhead starting at 1.3580 (previous support and the 38% Fibonacci of the latest swing.
Summary: Sell rallies to resistance levels listed above after a G7 entry signal.
In this video I show you how I analyze the ‘probability set up’ in 5 easy steps, then use those same steps to rate the trade setup, which gives me a confidence rating which I then apply to my trade entry. All of this takes just a few minutes but keeps me trading calmly and collectively as I then use this confidence rating determine my position size – thereby ensuring an overall well balance trade at every turn.
- Analyze 5 simple criteria
- Rate your probability set up from this on a 1-5 scale
- Adjust your position size accordingly
- Take unemotionally and with far greater confidence.
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Hi Guys, sorry wasn’t paying attention today (Monday Morning). I see James is actually closing down his T24 alert service and replacing it with the more improved TFD Alert System.
So to all my clients who are members of the T24 service please make sure you go to this page immediately and switch over or you will miss out.
For those that are not following this service. I strongly recommend you grab yourself spot. James loves to shut the door quickly when he launches a new service so he can focus on those clients.
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Cheers,
Chris.
EUR/USD
Weekly Trend direction: Bearish
Weekly trend reversal level: 1.4085
Key G7 resistance levels: 1.3780/1.3800, 1.3840, 1.3930
Counter-trend and scalping opportunities:
Strategy: Whilst below the weekly trend reversal level sell rallies to resistance levels after an entry signal.
Today’s trade suggestion: The euro’s fortunes have reversed quite dramatically, and we have a very bearish pattern on all chart time frames. We’ll look to sell the euro into resistance levels after pullbacks. This is not a good time to be picking bottoms and trading counter-trend. There are very few clear support levels below us and we have just broken below major range support.
Summary: Sell rallies to resistance levels listed above after a G7 entry signal.
Experience is so crucial to a trader, but how do we gain the right type of experience? As human nature goes, we rarely learn from our mistakes. But in trading it is essential we do just that!
If you are one of those traders who keep making the same mistakes over and over again, then this video is for you.
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EUR/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.3850
Key G7 support levels: 1.3950, 1.3850
Counter-trend and scalping opportunities:
Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.
Today’s trade suggestion: This week remains long, despite the rather suspicious-looking daily and weekly candles, which warn of a potential medium term top in place. We are currently at support near 1.3950, but we have no clear G7 signal to buy just yet. Further support lies below at 1.3850 – the weekly reversal level. Watch and wait for a clear G7 signal at either 1.3950 or 1.3850 before buying the euro.
Summary: Buy dips to support levels at 1.3950 and 1.3850 after a G7 entry signal.
GBP/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.5950
Key G7 support levels: 1.6080/50, 1.6020, 1.5960/50
Counter-trend opportunities:
Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal
Today’s trade suggestion: Another triumphant week for the pound, and clearly bullish after last week’s rally. Continue to look to buy into dips to the support levels listed above after a clear G7 entry signal. It’s not prudent to stand in front of this rally, and counter-trend trades are probably not advised!
Update 03 November: Nothing to add. We have gone sideways since Monday.
Update 08 November: No change. Continue to buy dips to support levels listed above.
Summary:
Buy the pound into dips after a clear G7 entry signal.
There will be no trading today because of the NFP news. Have a great weekend 
Update 3 November: Back up to the top of the range and trading inside a newly formed hourly channel (see chart) Frankly this is getting boring, so be prepared for a big move when traders become complacent. We are short from the 1.4050 area (range top, 786 Fib and channel top) after a G7 signal, and we’ll have to see how it plays out. Be alert for opportunities in either direction.
Summary: Continue to trade the range: Look to sell into rallies to 1.4000 or 1.4080, or buy into dips to supports between 1.3950 and 1.3830.
EUR/USD
Weekly Trend direction: Bullish
Weekly trend reversal level: 1.3734
Key G7 support levels: 1.3900, 1.3870, 1.3830/00
Counter-trend and scalping opportunities: 1.4000
Strategy: Whilst above the weekly trend reversal level buy dips to support levels after an entry signal.
Today’s trade suggestion: Another “flip flop” week, stuck in the range between 1.4100 and 1.3700. The weekly chart is just about bulling, but the doji candle suggests we could go either way this week, just like the past two. Key support levels are listed above. Key resistance levels lie at 1.4000 (the 786 Fib) and 1.4080 (the range top) We will consider trading in either direction this week, as long as we remain below 1.4100. Look for opportunities to buy and sell after a clear G7 reversal signal. Don’t be tempted to pick a direction and commit to it, being especially careful to stick to stops!
Summary: Continue to trade the range: Look to sell into rallies to 1.4000 or 1.4080, or buy into dips to supports between 1.3900 and 1.3830.
EUR/USD
Update 29 October: Back up to the 1.3950 level yesterday and no respite to the range trading which has dominated this month. We continue to look to sell the euro into rallies whilst below 1.4050, and we are short already from 1.3930, just below the 61.8% Fibonacci at 1.3950. Let’s see how this one works out. If not, we’ll look to sell again higher up near 1.4000/50. It’s been a difficult second part of this week, and as it’s the last Friday of the month, things can get worse, so be careful!
Summary: Try small counter-trend longs around 1.3800/3780. Exit longs and wait for a signal to sell at resistance levels listed above.
