USDCHF has been in a wedge pattern for a few days now. We take advantage of divergence forming earlier in the day to shoot for the resistance levels on the way to an overall fibonacci target higher up. Also covered in this video is further information on how to maximise your profits.
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Disclaimer: The topics in this video ARE easier discussed than actually conducted. Having said that they are VALID trades and several of our members profited from them.
There are several trades discussed. Cheers.

The EUR/USD bounced in the early part of the Asian session to begin a steady upward climb. The entry was simple: Wait for the break of resistance, then go long at the re-test of that level. The choices each trader made after that dictated whether the profit was (a) 15 pips, or (b) up to 40 pips.

We see the pound giving some retracements, and an opportunity to take advantage of a retracement/resistance area bounce and utilise analysis of current price action to maximise the potential of our trade when it looks like there may be no follow through with our overall plan.
Enjoy!

New York traders wasted no time this morning in pushing the USD/JPY below support at yesterday’s low. The re-test of support provided an ideal second-chance entry. The first 30 pips down to the 115 psychological level were easy, but the additional 25 to the M1 pivot point required patience and discipline to follow the guidance of the short-term moving averages during the retracement.

Late into the London session the GBP/USD had a 5/8 ema/sma cross & a stochastic cross up on the 15m chart, providing a quality long trade setup after the break of the 21ema. However, what if you missed the entry? Well with a combination of support areas (5ema, Bollinger Bands 55ema), and shorter term time frame stochastics you can gain proper confirmation to insert yourself into a pre-existing move. Using this method some members were able to make the 40 or so pips left in the total M1-M3 pivot move of 90 or so pips if they missed the initial entry. Once could also use this method to add additional lots with a decent level of confidence, and a low risk vs. reward situation.

The London session saw the USD/JPY rise more than 100 pips, so a sharp reversal downward might have been the last thing on the minds of some New York traders. However, there were some technical clues on multiple time frames suggesting that a downward move might be forthcoming. Those who heeded the signals, went along with the change in flow at the start of the New York session, and gave the trade “room to breathe” were rewarded with about 50 pips in profit.

On a very active London FX session you pretty much could have focused on any pairing for pips. This is a breakout trade plan of the USD/CAD from the Daily chart channel that has contained price for almost 5 weeks. Using a combination of stochastic crosses on 15m and 3m charts, fibonacci retracements/extensions, pivot points, and EMA’s we were able to fairly accurately enter at the breakpoint with minimal risk if we were to be wrong. The result was anywhere from 75-120 pips from the Loonie depending on entry on a fairly fast breakout move.

In today’s video:
entry on an ongoing trend opportunity.
maximising opportunites.

Enjoy.

Early in the New York session, the USD/CHF broke the M4 pivot point and a major psychological level to reach R2. While waiting for a bounce at M4, traders who monitored currency correlation and the 3-minute chart found no reasons to execute a long trade. Instead, the subsequent signals led to a short trade which targeted the central pivot point, producing a 40-pip profit.