Once again, Forex Mentor Pro showed you the money this week!!

Pierre DuPlessis on May 17, 2013
Read-All-About-ItGood morning everyone.
Hope you are ready for the weekend.
I AM TRAVELING TODAY SO CANT MAKE A VIDEO CLIP – BUT PLEASE TAKE SOME TIME OUT TO READ THIS POST PLUS SEE IF YOU CAN SPOT THE FOLLOWING TRADES ON YOUR CHARTS! Remember, we want to teach you to spot the setups yourself !!
We didn’t have a bad week here at Forex Mentor Pro, :smile: with the Earth and Sky system giving some pips, Marc`s M2 and M1 gave some pips and I think Dean made some pips with his SST method too.
Trades of the week for me:

1) The Euro Index found support at that 50% fib level at 108.16 on Monday. This was also the weekly main pivot area plus if we look to the left of the chart, previous support. Multiple reasons and price jumped from here 48 pips just to be stopped at the weekly WR1 pivot at 108.64, if we look to the left of the chart this was previous resistance. I know some of my mates in the forum got onto this one with a counter short where we fell all the way back to the mother in law on the 4 hour chart, some 80 pips away !!! Two trades – plenty of pips!!
2) Now one of the basket pairs are the Euro/Dollar. On Tuesday I said we had a zone between 1.3064 to 1.3194 BUT THAT WE NEED TO LOOK AT A POTENTIAL AREA, ANYTHING between 1.3040 to 1.3064. Price came very close to 1.3040…..when we were finding resistance here – THE EURO INDEX WAS AT THAT WEEKLY PIVOT POINT REMEMBER, so this gave us extra information and confirmation to short the Euro/Dollar and BANG!! – 160 PIPS thank you. Price is currently finding support at 1.2869, the weekly pivot point!!!! Now if you familiar with the M1 method, we had some nice trades on Tuesday and Wednesday that together also gave you a home run for the week. (Home run = 100 pips)
3) I am still in this one – EURO/GBP  Tuesday we said – `I don’t want to fib this pair this week. Price is at a very important level. Looking at the Daily chart, price is at the monthly mid pivot at 0.8502 where we also have the 55 Daily EMA and 4 hour mother in law with a Bollinger band coming down. Looks like we might range between this level and 0.8374 where we have the Daily 200 EMA.` I took the short at 0.8500 as we had multiple reasons here to short…….PLUS THE EURO INDEX GAVE ME THE EXTRA CONFIRMATION AS WE WERE AT THE WEEKLY PIVOT POINT TO SHORT THE EURO/GBP. Currently 50 odd pips up!
4) This was a stunning trade this week: I warned in the forum not to look for longs on the GBP/Dollar and said the bias is to short at 1.5380 as we had the Mother in law on the 4 hour here plus the daily 55 EMA. This level was also motioned in my write up early in the week. Price found the resistance at this level and dropped a like a stone all the way to the weekly pivot waiting at 1.523…..even as far as 1.5200 it dropped. A cool 170 odd pips
5) The Aussie/Dollar didn’t give us the pullback we expected, but broke the low at 0.9941 on Tuesday morning giving us a M2 setup!! If you familiar with the M1 method – look how this held hands this week with the M2 method. This trade bagged 200 pips.
6) I know some of you took a counter trade on the Dollar/CHF at the weekly pivot at 0.9699. Nothing wrong with that….BUT JUST REMEBER – THE TREND IS YOUR FRIEND
7) The dear old CAD gave a nice M2 trade and this is a text book example that you should save in your scrap book for future reference. Price broke a hell of a lot of EMAS at 1.0136/49 TO THE UPSIDE. This pair gave us opportunities twice this week to, long here with the second trade currently 80 odd pips in the green.
8) The trend is your friend!! The Dollar Index 15/30 min chars gave us some stunning M1 trades on Tuesday and Wednesday morning. Tex book stuff – save it in your scrap book.
9) Then last but not least – I see one of our members motioned in the forum that he took a `Earth and Sky System` short on the Euro/Cad – The zone was between 1.3154 to 1.3196 with a potential reaction point at 1.3175 where we had the 62.5 fib, 55 EMA and prev. resistance….price came to this area and gave a clear nice trend line break on the 60 min chart – giving 80 odd pips. Well done mate Mark_P !!
 
:smile: So mates – Once again, Forex Mentor Pro showed you the money this week!! :mrgreen:
Have an awesome weekend

 Pierre, Vassilis (Capsmart), Raa, Omar, Mary, and other experienced members will be available in the forum to give you a more up to the minute assessment & whether they see any potential trades lining up in the next few days. Many members tell me this is the best forex forum there is (no back biting & bitchiness, nor spam, that spoils most forums) and all members are happy to help new visitors. Its a great resource, USE IT: Forex Forum