Hey traders
This video describes how I accurately predicted the reversal now taking place on the USD CHF.
Once you know these 5 factors that usually lead to False Breakout Reversals - 2 of which apply to the USD CHF - you can predict and avoid the losses associated with them and then trade them as they make their way back inside of the Consolidation.
Lets see what happens with these forecasts for the GBP JPY and USD CHF that are expected to provide trade setups between today Friday and Monday. Enjoy!
Duane
DRFXTRADING
…hey traders…if you check your charts now…you will see the USD CHF reversal signal as predicted.
Youll also notice the GBP USD gave the Bullish Reversal Signal as predicted…
Why are these reversals taking place? Due to the weakness of their initial Breakout Signals…the 1st of 5 possible reasons breakouts fail…
Lets see how much I can get from these pairs.
Duane
DRFXTRADING
Hey traders
This is what is possible on the EURO USD…movement back to Range Support Boundary. Just need the right signal on the 4 H Chart.
Duane
DRFXTRADING
Well the EURO USD declined to its target in keeping with the forecast. Had doubts about the signal given by the 4 H - preferred if the Bear Candle exceeded the 2 Bull Candles by a greater distance which is why I traded it Demo instead of Live - but still proves the accuracy of the forecast and that targets of less than 50 Pips can be had once clear and justified.
See video forecast below once again and the charts of the trade as done on my Demo.
FORECAST VIDEO
FORECAST SIGNALS
SIGNAL AND ENTRY
RESULT
Questions let me know.
Duane
Duane Shepherd
DRFX SWING TRADING
Traders!
Check out this EURO AUD trade that captured 66 Pips in just 10 Hours on my Live Account as I took advantage of the sharp rally on this pair that took place earlier this week. This was done with the Strategy of targeting gains of 50 to 70 Pips within 24 Hours.
Main Points from the Trade?
How to spot False Consolidation Break Reversals
Trading Targets to be used for these Reversals.
Entry Signals & Stop Losses to use on the 4 Hour and 1 Hour
Avoiding Unexpected Reversals.
I believe that Candlesticks offer much more for traders with the possibility of large turnover without Complicated Indicators or Conflicting Economic Data that just complicate things unnecessarily in a market that is already difficult.
VIDEO SUMMARY BELOW
TRADE SUMMARY
TRADING METHODOLOGY
SUMMARY OF THE METHODOLOGY
MARKET SETUP TRADED
TRADING PLATFORMS USED
DETAILS OF THE EURO AUD TRADE RESULT
The trade took advantage of the False Consolidation Breakout Reversal Setup on the Daily Chart, as the pair headed back inside of its Range Setup following the failed breakout attempt below Support. Once the Double Bottom Signal was given at Support to start the reversal, entry took place with the Bullish Engulfing Candlestick Signal on the 4 Hour Chart, with the 1 Hour Chart being used for Stop Loss Placement ( done if Stop Loss on 4 H would be too large).
As you will see in the video, FXCM is used to identify Market Direction and Entry Signals based on the New York Close of the Daily candle (very accurate candles). However, my Live Trades are done with FXPro because you can see the exact % Values of your Risk and Reward for each trade and you receive email alerts when the trades are closed so you do not need to watch your trades. This helps to avoid the self-sabotaging habit of closing trades too early!
DAILY CHART CONSOLIDATION SETUP & SIGNAL
4 HOUR CHART ENTRY SETUP
1 HOUR CHART STOP LOSS
THE TRADE RESULT ON MY LIVE ACCOUNT
KEY HIGHLIGHTS OF THIS TRADE
These short term targets are a lot more frequent than the larger targets of 70 to 100 Pips that I tried to capture. Once the rules are followed, large gains and faster turnover are possible. Plus since most trades close eithin 24 hours ans less as with this trade…waiting for your trades to hit their targets not that stressful.
You traded it?
Questions ?let me know…
Regards
Duane
DRFXTRADING
Hey traders
I believe that avoiding market traps is just as important if not more than capturing profitable trading opportunities.
Today was an example of this.
As you can see below, the accurate warning I gave to the traders I help, averted trading losses on the NZD CAD as it reversed sharply. By using Candlesticks, it is easier to spot and avoid these market traps set every week that lead to losses.
Charts below. Video to follow.
OVERALL SETUP
Pair appeared to be forming a Pennant on the Daily Chart. With the Double Bottoms on the 4 H Chart, it was expected to give us a Bullish Entry Signal to continue higher to target what would be the Resistance Boundary…
DAILY CHART
4 HOUR CHART
Eventually the 4 H Chart started to show signs of providing the needed signal. However, it needed to be of a certain size to justify entry otherwise would be too risky…
CHART OF 4H - SIGNAL NEEDED
Instead of a strong signal, what was given was a weak signal that was too risky… I warned that this was weak and that trading it was not wise…
…and lo and behold…warning was spot on…
There are certain types of Candles that lead to profitable movements but if they are smaller than these, Candles have a low chance of leading to a successful trade…
…The Key is being able to distinguish between the profitable ones and the risky ones that lead to reversals and unnecessary losses.
Duane
DRFXTRADING
Here is the video describing how we avoided the market trap above
Duane
DRFX SWING TRADING
Hey traders
100 Pips on GBP AUD as the Pair Rallied in response to the Weekly Chart Double Bottoms and Daily Chart Counter Trend Line Break.
WEEKLY CHART
In addition to the Double Bottoms, there was also a Trend Line Break to support the rally as the pair looks to be in the early stages of the formation of a Consolidation Setup…
DAILY CHART
This was followed by a Counter Trend Line Break on the Daily Chart…
Breaks of these lines are strong indicators of the continuation of the existing trend…
Entry took place with the Stop Loss placed at the Uptrend Line on the 4 Hour Chart …
…and the trading gain that resulted from it…
These are the Setups and the type of Gains you can achieve with Candlestick Signals especially when used on the reliable larger time frames…
This chart represents the 2 approaches I use to take advantage of the larger Pip Ranges provided by the Daily snd 4 Hour Charts…
50 to 70 Pips
100 to 200 Pips
The key is being able to predict the 200 to 500 Pip movements of the Larger Time Frames and then choosing the Pip Targets of your choice.
Check out the Video that predicted this move.
Questions…let me know…
Duane
DRFXTRADING
Following along, thanks!
Another GBP AUD trade plus EURO AUD
Candlesticks allow you to forecsat and trade with greater accuracy.
Especially on the larger charts…
Duane
DRFXTRADING
The Video Analysis of the CAD JPY 76 Pip/3.68% Gain on my Live Account shows how Japanese Candlestick Signals allow us to Accurately Predict the Forex for strong trading gains each week.
VIDEO ANALYSIS
THE CAD JPY TRADE
In this case, I took advantage of the formation of the Range Consolidation Setup on the Daily Chart.
This result has meant that my Rate of Return since this new approach started in February this year is now up to 10.98% after being down from 16% as at June…
RATE OF RETURN FEBRUARY TO JUNE 30, 2018
RATE OF RETURN FEBRUARY TO SEPTEMBER 13, 2018
This trade along with a small gain on the USD JPY means Return for September is now just below 4%.
DETAILS OF TRADE
As you can see, this recent Bullish Movement that I traded was predicted last week as I expected the formation of this Range…
A few days later, the Bullish Signal was provided as expected…
So what was taking place was that the Resistance Boundary had already been formed with just 1 Support Point formed and the Bullish Signal and rally was then going to create the 2nd Support Point and complete the Range Setup…
Given this signal and the Bull Crown Setup on the 4 Hour Chart…
…the trade therefore had a very strong chance of rallying as expected.
I then went down to the 4 Hour Chart to look for a setup to take advantage of this pair…
There were actually 2 options for your Stop Loss.
The choice depends on how much you want for a Stop Loss. Both options are possible as trendlines offer a strong area to protect your trade.
I decided to use the Trendline for my Stop Loss and therefore this was the Setup I used , with the target set for the area just below the Resistance Boundary…
After the market pulled back temporarily as expected ( to offer an even better entry price)…it rallied to the Resistance Area as expected…
Exit actually took place 5 Pips before the actual target was hit because at the end of the 2-Day Holding Period I set for these types of trades, it had not yet been hit. So decided to exit for 76 Pips instead of waiting indefinitely for just 5 more Pips.
My FXCM Demo Account is used for my Analysis because of the greater clarity of their Charts…but my Live Account trades are done with FXPRO. FXPRO allows me to see the exact Risk% and Return% values and I receive alerts when trades are closed so that we dont have to monitor the trade. However, trades are done both on the FXCM Demo and FXPRO Live Account together.
…so you can see the results on my 4 Hour and Daily Charts from my Live Account…
KEY POINTS
1. NEVER MONITOR THE TRADE
Despite what is a common practice in the Forex, it is highly destructive to monitor your trades and watch the charts. Why?
After you execute a trade, the market will not always shoot to your target in a straight line. It will wave and pullback and eventually resume the movement to your target. If you watch the market and see these movements on your Live Account however, it is natural to become stressed and doubt yourself, leading you to be tempted to close trades too early. Doing this over the long term may reduce your losses , but will self sabotage your profit potential and defeat the purpose of having a profitable strategy.
This is why I recommend having a strategy with a specific Holding Period where 95% of the time it will hit the target within that time without any intervention on your part.
2. ACCURATE EXIT TARGETS
Even though the market tends to hit the Resistance/Support Boundary, there are times when it will pullback and start its reversal without hitting it. This is why I set the trading target to an area just ahead of the Resistance and as you can see from the charts below, the market has in fact started to pull back…
I call this area the ‘Near End’ Value and exiting trades here allows you to avoid sharp reversals that take away your trading gains.
So this was a great trade that showed how accurate Japanese Candlestick Signals - especially when used on the Larger Charts - allows you to Forecast and Aggressively take advantage of the profitable moves of the Forex each week.
Stick to this approach, profits will come.
More to come!!!
Duane
DRFXTRADING
This was the latest in a series of trades identified by my Methodology over the last few weeks…proving that Candlestick Signals are your best bet for Trading Success…
GBP AUD
USDJPY
GBP AUD AGAIN
EURO AUD
AUD USD
EURO AUD
Possible False Breakout Reversal on the USD JPY. Usually whenever the market struggles like this outside of Consolidation, it means that a reversal back inside is likely to take place soon. Get ready! But we have to wait for the right signals and setups before trading.
DAILY CHART
4 HOUR CHART
Duane
DRFXTRADING
Small trade. Exited early when realized it was overbought. Still got 1.2% from it.
September now up 5.0%…
8 Month Return now up 12.3%. February was when the new strategy started…
It was up by 16% in June after which experienced a little rough patch…
However just a few more trades left to hit 14% again and the 30% target…
Lets see what next week brings.
Hey traders
A more detailed analysis of the USD JPY trade and possible upcoming setups this week.
Duane
DRFXTRADING
29 Pips and 1.5% Return from the EURO USD. Took advantage of EURO weakness over the last few days as it forms Consolidation on Daily Chart and headed to Support. The signal to start selliing it was the Evening Star Bearish Candlestick Signal. The trade shows how to trade the early trends that form Consolidations instead of waiting until they are formed to then trade between Resistance & Support.
Live Account is now up to 14% with favourable statistics…after a period of setbacks in the middle of tge year…The 30% target expected to be hit in the next few weeks.
Average Risk of 2% to 3% per trade, targeting 4% to 5% in most cases. Will therefore need around 4 trades to hit that 30% target.
Duane
DRFXTRADING
Nice!
I just started following you thread things look great!
KC
Great appreciate it. Questions welcomed
Hey traders
4.6% and 46 Pip Gain on the NZDUSD overnight.
Rate of Return now up to 19.35% since the new Methodology began in February…
Meaning only a few trades needed to hit 30%…
Trade basically involved trading to the Support of the Pennant being formed on Daily Chart…
Entry Signal and Setup took place on the 4 Hour Chart which provided the Evening Star Candlestick Formation to resume the Downtrend…
And after just 17 hours…target hit…
Recall that my analysis and trade signals are taken from FXCM Charts (clear, easier to use), but my Live Trades are done with FXPRO (1. You Can see exact Risk Reward in Percentages to ensure you keep within your Risk/Reward Parameters. 2. You Receive Alerts when trades are closed so you dont have to monitor the trade).
So a good trade that shows how to spot and trade Consolidation Setups on the Larger Charts using Accurate Candlestick Signals.
Video to follow.
Duane
DRFXTRADING
