Greetings, fellow traders! Another week has passed, and I’m pleased to report that I’ve once again secured my month’s profits within just seven days. Now, a pivotal question beckons: what’s the strategic move moving forward?
Allow me to present the comprehensive analysis I shared with our members this past Sunday, even as I battle a rather uncooperative cold – a detail you’ll soon catch in the video.
In the previous week, I adeptly maneuvered the markets, capitalizing on select trades to secure a noteworthy 5% profit for the month. Yet, a mere ten days remain in this month’s trading cycle. Now, the contemplation ensues: should I forge ahead, maintaining my involvement in the market, or should I adopt a more reserved approach, content with preserving my hard-earned profits while observing the chart dynamics unfold?
For those of you following my live webinars, you’re well aware that I skillfully called out and managed a series of trades, effectively navigating through a remarkable 600 pips.
Key Takeaway: Precision in Entries Yields Success
Further elucidating the matter, I elaborate on my adept management of winning trades, boasting an impressive accumulation of 550 pips in profit.
The Crossroads: To Pause or to Reach for the Stars?
The crossroads of this juncture demand reflection upon one’s trading persona. As a cautious trader, my inclinations lean towards calling it a month at a stellar 5% profit, which, considering a $1 million funded account, translates to a gratifying $50,000 in profits. The client is content, and so am I. The siren call of greed may whisper the possibility of amassing more gains in the month. However, it’s paramount to establish boundaries and adhere to one’s guiding principles.
Should your monthly target coincide with the 5% milestone, a prudent decision would be to momentarily halt your trading endeavors. Instead, dedicate the remaining days to meticulous analysis, introspection, and identification of areas for improvement. This week, exercise heightened vigilance, and consider engaging exclusively in trades that receive the prestigious “A+” designation.
Navigating the Spectrum: Aggressive vs. Conservative Moves
Enter the aggressive trader, poised to plunge back into the market fray, potentially leading to one of two outcomes – amplified gains or a perilous erosion of profits, or even worse, their entirety. The repercussions ripple through both your earnings and the compensation from the funded challenge. The choice, my friends, is yours, and I’ve extended my advice as far as I can.
Navigating the Forex Landscape Ahead+++++++++++++++++++++++ Brace for a week of impactful events. On Tuesday, Manufacturing data for EUR, GBP, and USD command attention. Come Wednesday, all eyes shift to NZD, where the cash rate announcement holds significant sway over NZD pairs. A critical juncture emerges on Thursday with GBP CPI data, signaling potential shifts in interest rates. Wrapping up the week, a series of speeches beckons, promising an eventful closure to the trading week. Do note that my analysis originates from May 20th, and I urge you to monitor the news for potential developments that could necessitate adjustments to my outlined plan.
Engage in Our Live Training Session+++++++++++++++++++++++ Should you yearn for insights into specific areas, I encourage you to submit a ticket via the helpdesk. Our upcoming live training session awaits your active participation. Register now for the session taking place on Tuesday, May 23rd, at 11:00 AM London time (BST/GMT+1).
Join the conversation and embark on an in-depth, real-time exploration of market dynamics and prospective trades for the week ahead.
MAJOR Pairs: Analyzing Market Dynamics
Analyze the USD index, a crucial indicator hovering at a pivotal juncture on the weekly charts. With the index entangled at 55 and the 200 MA looming above, a breakout beyond this juncture could foreshadow USD strength.
My guiding principle remains steadfast: I prioritize “A” grade trades originating from both weekly and daily charts, positioning orders and then relinquishing control. “B” grade opportunities warrant closer scrutiny on smaller timeframes to gauge their response within my designated zone.
My analytical approach commences with scrutinizing daily and weekly charts, pinpointing vital support and resistance levels. These markers subsequently find their place on Pierre’s Earth and Sky template. Weekly and monthly pivot points contribute to the landscape, culminating in a tapestry of opportunities throughout the week. The crux, however, lies in selecting a directional bias for the upcoming days. Critical caveat: abstain from trades when proximity to a trend line or pivot casts uncertainty. In an ideal scenario, aim for long positions near major support or pivot points, harboring the potential for a substantial 40-pip advancement. Vice versa applies to short positions.
