Lahore, Pakistan -- (ReleaseWire) -- 06/29/2014 -- Pierre DuPlessis from Forex Mentor PRO Program released his Friday Round up. Anyone interested can try Forex Mentor PRO program for 7 days for $1 only. This is what Pierre DuPlessis says: “Some of you have asked the question – ` Is Forex trading dead and difficult to trade these days?
Well my mates Forex trading is NOT DEAD at all. Yes things are slower if we look at the Forex charts but dead – no way!! I see most of you are on the adrenaline rush gold have given you over the last couple of weeks and that is great – but as Omar have warned you over and over…..Gold can bite……..and it can bite hard !!! So for the members that`s not into gold……you are lucky because I still can show you the money every week by just using a couple of simple methods we teach here at Forex Mentor Pro.
This week……looking at the charts…….the methods we teach……..there were over 500 pips on the table for the taking!!! Yes mates…..OVER 500 PIPS…….and here you were thinking Forex is dead. So my mates……don’t write Forex of just yet….
AUD/Dollar on the 4 hour chart:
Price is above the 200 EMA
34 EMA (sky) is above the 55 EMA (earth)
Potential trading zone: 0.9389 to 0.9358
Potential area to look for reaction: At the 0. 9400 and 0.9389 and 0.9358 levels.
Potential Profit take areas: The 0.9441 and 0.9451 levels
MACDEE Divergence: No
Stochastic: No man’s land
Did we open with a GAP? No
Potential Counter Trades: The 0.9441 and 0.9451 levels.
Notes: Yesterday I posted a potential short setting up from the weekly pivot – this trade is currently in the green with a profit take point at the 0.9400 level.
Fridays notes: Method – Counter Pivot point trade giving us 90 pips PLUS Earth and sky giving us 90 pips
This pair gave us 180 pips with two methods this week. First we had a counter short from the WR 1 pivot early in the week and then an Earth and sky long out of the zone. Second one was a little more risky as we dropped to the 75% fib this week where we found some support – Problem was that we had news coming out 12 hours later that could have a high impact on this pair. Never the les, some of you got in at the 75% fib – stop on the other side of that 4 hour 200 EMA and profit take at the WR1 pivot at 0.94441……Price got to this level this morning and might be a great area to look for shorts again early next week…”
About Pierre DuPlessis
Pierre DuPlessis joined Forex Mentor PRO Program as a student few years back. Now he is one of the mentors at the Forex Mentor PRO Program and teaches new traders how to trade on H4 and D1 charts.
For more information about the Forex Mentor PRO Program 7 days trial for $1 only, please visit the following website: