1200+ Pips in a Week – EUR/AUD – Trade 3 of 6

1200+ Pips in a Week – EUR/AUD – Trade 3 of 6 2018-02-23T12:39:35+00:00

5 Days : 6 Trades : 1200 Pips

Such is the power of my Daily Forex Strength / Weakness Analysis

Based on nothing more than a simple daily bar “Sell at market open and hold to market close” strategy, here you can see how this EUR/AUD Long trade unfolded, making a stonking + 361 pips profit in the process.

This is 1 of 6 trades taken that week as a result of my Daily Forex Strength / Weakness Analysis.

Seriously – Forex Trading without this analysis is like driving your car – blindfolded !

We start the week at 8pm GMT on Sunday 12th November 2017 when I issued the following Forex Strength / Weakness Analysis:

Sunday 12th Nov 2017 – Week 46 – Market Open Forex Strength / Weakness Analysis

20.00 GMT – Bigger Picture

S1: USD W1: NZD
S2: GBP W2: CHF
S3: JPY W3: AUD

How to Use this analysis:

Example: If USD is the strongest (S1) and JPY is the Weakest (W1), open the USD/JPY chart on the daily timeframe, see if price action agrees.

You don’t have to stick to the No1 (S1 Vs W1) crosses either: There are 9 potential currency crosses available per table, so maybe pair the 2nd strongest (S2) with the 3rd weakest (W3) and see what the respective chart has to offer.

My week 46 Sunday analysis above clearly shows that as of 8pm GMT on Sunday 12th November 2017:

  • AUD is the 3rd weakest currency in the market.
  • My previous Week 45 Sunday analysis showed EUR as the 3rd Strongest so I was already watching this currency
  • Add to which, EUR was showing on my previous weeks Intraday Analysis (Mon to Fri) as the strongest currency
  • Put the above together and you can see why I was interested in this currency cross.

Let’s pull up the EUR/AUD chart and see what it has to offer.

Start of week 46 – chart and written trade rational:

Forex Strength and Weakness Technical Analysis | Forex Signals | Charles Clifton Forex Trader : Coach : Signal Service | www.CharlesClifton.co.uk

Rational: EUR/AUD Long

I will simply reiterate most of what I had to say last week:

Here we have a fascinating chart to play with. One of the best examples of a near 9 month ascending triangle I have seen in quite sometime – a near perfect rising trend line in play since late February capped by multiple tests of resistance at the 1.5230 handle and a fakeout (false breakout) to boot.

I see such a pattern as showing upside potential, and this is born out by the ascending triangle pattern being widely seen as a continuation pattern, effectively building pressure toward the upside. Lets face it, this pattern cannot stay in play for much longer, something has to give.

I’m widely know for stating the obvious in that price can only go in one of three directions; Up, Down or Sideways. In this case price has to either move to the upside breaching resistance, to the downside breaching rising trend line support, or sideways, again breaching rising trend line support to establish a trading range.

NB: Last week we saw price again test rising trend support and Friday’s bull bar was good and strong, however last weeks RBA rate statement did little to drive this pair in either direction so we again wait and watch price test it’s 1.5230 resistance level.

End of week 46 – chart and trade outcome:

Forex Strength and Weakness Technical Analysis | Forex Signals | Charles Clifton Forex Trader : Coach : Signal Service | www.CharlesClifton.co.uk

Outcome: EUR/AUD Long

The market opened @ 1.5222 and closed 373 pips higher @ 1.5575 – I entered long on Sunday’s market open, exiting  just before Friday’s market close.

It had to give, and it did ! Our best performer of the week giving us a stonking + 361 pips of profit !

Ready to trade with, not against the market ?

Then subscribe below and gain immediate access to the daily analysis you need.

Sill not convinced ? Need more proof ?

Of the 9 potential Forex crosses my analysis immediately alerted me to 3 trade setups resulting in + 688 pips profit.

A further 3 trade setups triggered during the week, giving me another + 526 pips profit.

That’s over 1200 pips profit in 1 week !

Here’s all 6 trades taken that week: Click the images below to see the charts, trade setups and outcomes.

Trade 1: NZD / USD Trade 2: GBP / AUD Trade 3: EUR / AUD
Forex Strength and Weakness Technical Analysis | Forex Signals | Charles Clifton Forex Trader : Coach : Signal Service | www.CharlesClifton.co.uk Forex Strength and Weakness Technical Analysis | Forex Signals | Charles Clifton Forex Trader : Coach : Signal Service | www.CharlesClifton.co.uk Forex Strength and Weakness Technical Analysis | Forex Signals | Charles Clifton Forex Trader : Coach : Signal Service | www.CharlesClifton.co.uk

​​

Week 46 Trade 4 Week 46 Trade 5 Week 46 Trade 6

Ready to trade with, not against the market ?

Then subscribe below and gain immediate access to the daily analysis you need.

“Need to know more about this analysis ? I’m here to help, so feel free to drop me a line via my contact page HERE

Leveraged trading carries a high level of risk to your capital. Please ensure that you fully understand the risks involved before you trade. Read more HERE