April 21, 2024 • 9 mins
View my Monthly & Weekly Chart Trades Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Watch Prop Firm Masterclass #544: View my Monthly & Weekly Chart Trades In this video: 00:33 – Great feedback about our latest videos. 00:58 – A look at my MN1 and W1 chart trades. 05:00 – GER40 Index trade. 07:23 – Trade through Blueberry Markets. 07:46 – Attend my Masterclass, Prop Firm webinar and book a call with us. 08:40 – Email me directly, like, share and subscribe. In this week's video and podcast, I'm going to share with you two trades that I've taken, one on the monthly chart, one on the weekly chart. One's a reversal, one's a continuation, one's a forex trade, one's a non forex market. Let's get into that and share those trades right now. Hey there, traders! It's Andrew Mitchem here at the Forex Trading Coach for video and podcast number 544. Great feedback about our latest videos. Loving the feedback that we're getting regarding the changes that we've made here and by showing you trades and just helping people to understand what the market's doing and to understand how we trade here in Forex Trading Coach don't forget we always promote very low risk per trade high reward to risk and the strategy works across all timeframe, charts and all different markets. A look at my MN1 and W1 chart trades. Now today's a great example of that. I'm going to run through two trades for you, the NZD/USD on a monthly chart and the German 40 index on a weekly chart. So let's jump straight onto the charts here and you can see the two trades on the cover, the first one here is a monthly chart trade that's just hit the profit target this week. This is the NZD/USD Monthly chart. So going back here, this is the monthly chart. So this is the candle here that closed in February for the January candle sets January of 2024. And we decided to take the trade heading into the first February when the January candle closed. And you can see in here my trade was not actually filled until the 20th because I take limit orders. So I'm looking to take a sell trade after this candle has closed, but I'm only looking at taking the sell trade If the price first retrace is now, I don't need to be sitting there waiting for 20 days for the price to retrace. On the 1st of February, I put my orders in. If within the first candle in this case, the one month the price retrace is to my entry level. Fantastic and then takes me on a sell limit looking for the price to then fall. Now you can see in here that the market opened on this candle at 0.6110 and my entry level was 0.6162, so some 52 pips higher. And you can see that the price pull back up here got me filled as my entry level and the stop loss was fine. It remained in the market and then the price fell away. By the end of February we were into some good profit. You can see the advantage of entering back up here using limit orders. By the close of the month we were already up 92 pips roughly. And then what happened going into the month of March? The price then came back up, tested that same level. Notice how it stopped at the same level. We're still safe. And by the completion of March, we then ended up being around about 188 pips up and then the profit target was hit down here on the 15th of March, 15th of April, just a few days ago at 0.5905. So a few things to notice there. One were at before the right number of 0.5900, but also using the way that we trade with our entry and exit levels, we had a great profit target. Now if you look at rough numbers, looking at the without calculating these exact but there's roughly our entry level, our stop loss was at 0.6222, which is in a roundabout here and that was 60 pips, 65 pips and our profit target was in 0.5, which was then in around about there, 257 pips.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
In this week's video podcast, I'mgoing to share with you two trades that
I've taken. One on the monthlychart, one on the weekly chart.
Ones a reversal, one's a continuation, one's a forest's trade, one's a
non forests market. Let's get intothat and share those trades right now.
(00:26):
Hey, the Traders is Andrew Mitchamhere at the Forest Trading Coach with video
and podcast number five hundred and fortyfour. Loving the feedback that we're getting
regarding the changes that we've made hereand by showing you trades and just helping
people to understand what the market's doingand to understand how we trade here at
the Forest Trading Coach. Don't forget, we always promote very low risk per
(00:49):
trade, high reward to risk,and the strategy works across all time frame
charts and all different markets. Nowtoday is a great example of that.
We're going to run through two traderades for you. The New Zealand US
dollar on a monthly chart and theGerman forty index on a weekly chart.
So let's jump straight onto the chartshere and you can see the two trades.
(01:11):
Want to cover the first one hereis a monthly chart trade that's just
hit the profit target this week.This is the new Zealand dollar US dollar
weekly chart. So going back here, this is the monthly chart. So
this is the candle here that closedin February for the January candle, so
(01:33):
that's January of twenty twenty four,and we decided to take the trade heading
into the first of February when theJanuary candle closed. And you can see
and here my trade was not actuallyfilled until the twentieth because I take limit
orders. So I'm looking to takea cell trade after this candle has closed,
(01:55):
but I'm only looking at taking thecell trade if the price first for
traces. Now I don't need tobe sitting there waiting for twenty days for
the price to retrace. On thefirst of February, I put my orders
in if within the first candle inthis case the one month, the price
retraces to my entry level, fantasticand then takes me on a cell limit
looking for the price to then fall. Now you can see in here that
(02:19):
the market opened on this candle atzero point sixty one one zero and my
entry level was sixty one sixty two, so some fifty two pips higher,
and you can see that the pricepulled back up here, got me filled
at my entry level, and thestop loss was fine, remained in the
(02:44):
market, and then the price fellaway. By the end of February we
were into some good profit you cansee the advantage of entering back up here
using limit orders. By the closeof the month, we were already up
ninety two PEPs roughly, and thenwhat happened going into the month of March,
the price then came back up testedthat same level. Notice how it
(03:05):
stopped at the same level. We'restill safe. By the completion of March.
We then ended up being around aboutone hundred and eighty eight PEPs up.
And then the profit target was hitdown here on the fifteenth of March,
fifteenth of April just a few daysago, at fifty nine zero five.
(03:25):
So a few things to notice there. One, we're out before the
rand number of fifty nine zero zero. But also using the way that we
trade with our entry and exit levels, we had a great profit target.
Now if you look at rough numbers, looking at the without calculnes exact,
but there's roughly our entry level.Our stop loss was at sixty two to
(03:49):
twenty two, which is in around about here, and that was sixty
pips, sixty five pips, andour profit target was in here at zero
five, which was down in around about their two hundred and fifty seven
pips. You can see the exacttrade down here, but you get the
(04:11):
idea of the reward to risk involvedthere. You know, it's about a
sort of what you said about afour to one. Top of my head
figures there reward to risk. Sothat's the trade, a continuation pattern because
we're in a big DWN trend,a pullback down trend again, another pullback,
but overall we're in a big downtrend. And then we take the
cell trade here, great trade.What you will notice if you have a
(04:33):
look at my profit on this tradeis have a look here. There were
two more trades on the weekly chartsthat both lost. Now that shows the
importance of reward to risk because youcan see both these trades were pretty much
the same profit or loss in thiscase, both losing trades but very small,
(04:54):
low control. But when we havea profitable trade, it's multiple times
the risk. Really important to seethat. Moving on to the second trade,
so that was the monthly continuation.The next trade is this German forty
index at the bottom here. Sothis just shows that our strategy works different
timeframes and it also works on differentmarkets. Now this is a reversal trade
(05:16):
because we've had this enormous uptrend onthe German forty index and then we had
this outside candle here forming a newswing high. We love to look for
d shapes for reversals. Imagine aletter N in here. Now my charts,
as I've mentioned in the last fewweeks, I have more indicators on
here. I have a candle identifyor indicator. I look at Boninge bands,
(05:40):
Febinacci levels, etc. On topof this, and divergence. So
all these things on top. Butfor the purpose of this video podcast,
we just strip everything back to makeit make you focus on the candle pattern,
which is really important. Here.We then look at does the trade
have stop loss protection? Is inthe right part of the chart. Have
(06:00):
we got room to move for ourprofit target? All those things on top,
but just the absolute basics to identifythis trade was the candle pattern here
on the German forty. You cansee the trade down here again high reward
to risk. So this is areversal big up trend. We're then taking
a cell limit looking for the priceto first open, go up, and
(06:21):
then four Now, same thing here. If you look at the open of
that candle in here, it's roughlyaround what eighteen two hundred and twenty two.
My entry level was eighteen thousand,two hundred and ninety three, So
I'm needing the price to pull backup first, and then when it hits
(06:41):
that level, then reverse and youcan see exactly what that's done. And
again it's just recently closed at seventeenthousand, eight hundred and seven, which
is in just above where we areright now, so you can see as
a reversal trade, I'm not neededthis to come all the way back down
here. We just have a specificprofit target in mind that we're looking for
(07:06):
there, and this because of thenature of the way we enter and next,
it gives us those high rewards torisk trades as you can see here.
So reversal trade there on the weeklychart, continuation trade here on the
monthly chart, both profitable, bothhigh reward to risks. If you're looking
for a forest broke, I canhighly recommend blueberry markets. I've been with
(07:28):
blueberry markets for years and years,a great bunch of people and great chatting
software. Lots of markets as well, they're really really good. I'll put
a link to Blueberry Markets so youcan open an empty four or empty five
account with them. And the otherthing. If you've not been on my
free one hour master class, it'san on demand master class. It takes
(07:50):
you through kind of similar tones I'vejust shown here, but lots more examples
about what we do, how wetrade, etc. Give yourself an hour
to jump onto that. Up alink to that as well. If you're
out there looking to learn how totrade, look no further than us.
We've been trading. I've been tradingmyself for about twenty years and coaching for
(08:11):
fifteen years. Very proud of theway that we have built up the Fust
Trading Coach over the years to helpso many people from all parts of the
world to be successful. By theway, both these trades that I've shared
with you are here, the twowinning trades and the two losing trades.
We're all on our membership site forour clients to follow and to learn from
(08:31):
and to earn from. So that'sit for this week. I look forward
to catching up with you this timenext week with some more trades to share
with you and any questions you have, please send me an email directly Andrew
at Theforust Trading Coach dot com.If you're on YouTube, please like,
share, subscribe, and if you'reon the podcast, hope you enjoyed listening
(08:52):
and hopefully you can get to lookat these trades on your charts as well.
I see this time next week byfinat
In this week's video podcast, I'mgoing to share with you two trades that
I've taken. One on the monthlychart, one on the weekly chart.
Ones a reversal, one's a continuation, one's a forest's trade, one's a
non forests market. Let's get intothat and share those trades right now.
(00:26):
Hey, the Traders is Andrew Mitchamhere at the Forest Trading Coach with video
and podcast number five hundred and fortyfour. Loving the feedback that we're getting
regarding the changes that we've made hereand by showing you trades and just helping
people to understand what the market's doingand to understand how we trade here at
the Forest Trading Coach. Don't forget, we always promote very low risk per
(00:49):
trade, high reward to risk,and the strategy works across all time frame
charts and all different markets. Nowtoday is a great example of that.
We're going to run through two traderades for you. The New Zealand US
dollar on a monthly chart and theGerman forty index on a weekly chart.
So let's jump straight onto the chartshere and you can see the two trades.
(01:11):
Want to cover the first one hereis a monthly chart trade that's just
hit the profit target this week.This is the new Zealand dollar US dollar
weekly chart. So going back here, this is the monthly chart. So
this is the candle here that closedin February for the January candle, so
(01:33):
that's January of twenty twenty four,and we decided to take the trade heading
into the first of February when theJanuary candle closed. And you can see
and here my trade was not actuallyfilled until the twentieth because I take limit
orders. So I'm looking to takea cell trade after this candle has closed,
(01:55):
but I'm only looking at taking thecell trade if the price first for
traces. Now I don't need tobe sitting there waiting for twenty days for
the price to retrace. On thefirst of February, I put my orders
in if within the first candle inthis case the one month, the price
retraces to my entry level, fantasticand then takes me on a cell limit
looking for the price to then fall. Now you can see in here that
(02:19):
the market opened on this candle atzero point sixty one one zero and my
entry level was sixty one sixty two, so some fifty two pips higher,
and you can see that the pricepulled back up here, got me filled
at my entry level, and thestop loss was fine, remained in the
(02:44):
market, and then the price fellaway. By the end of February we
were into some good profit you cansee the advantage of entering back up here
using limit orders. By the closeof the month, we were already up
ninety two PEPs roughly, and thenwhat happened going into the month of March,
the price then came back up testedthat same level. Notice how it
(03:05):
stopped at the same level. We'restill safe. By the completion of March.
We then ended up being around aboutone hundred and eighty eight PEPs up.
And then the profit target was hitdown here on the fifteenth of March,
fifteenth of April just a few daysago, at fifty nine zero five.
(03:25):
So a few things to notice there. One, we're out before the
rand number of fifty nine zero zero. But also using the way that we
trade with our entry and exit levels, we had a great profit target.
Now if you look at rough numbers, looking at the without calculnes exact,
but there's roughly our entry level.Our stop loss was at sixty two to
(03:49):
twenty two, which is in around about here, and that was sixty
pips, sixty five pips, andour profit target was in here at zero
five, which was down in around about their two hundred and fifty seven
pips. You can see the exacttrade down here, but you get the
(04:11):
idea of the reward to risk involvedthere. You know, it's about a
sort of what you said about afour to one. Top of my head
figures there reward to risk. Sothat's the trade, a continuation pattern because
we're in a big DWN trend,a pullback down trend again, another pullback,
but overall we're in a big downtrend. And then we take the
cell trade here, great trade.What you will notice if you have a
(04:33):
look at my profit on this tradeis have a look here. There were
two more trades on the weekly chartsthat both lost. Now that shows the
importance of reward to risk because youcan see both these trades were pretty much
the same profit or loss in thiscase, both losing trades but very small,
(04:54):
low control. But when we havea profitable trade, it's multiple times
the risk. Really important to seethat. Moving on to the second trade,
so that was the monthly continuation.The next trade is this German forty
index at the bottom here. Sothis just shows that our strategy works different
timeframes and it also works on differentmarkets. Now this is a reversal trade
(05:16):
because we've had this enormous uptrend onthe German forty index and then we had
this outside candle here forming a newswing high. We love to look for
d shapes for reversals. Imagine aletter N in here. Now my charts,
as I've mentioned in the last fewweeks, I have more indicators on
here. I have a candle identifyor indicator. I look at Boninge bands,
(05:40):
Febinacci levels, etc. On topof this, and divergence. So
all these things on top. Butfor the purpose of this video podcast,
we just strip everything back to makeit make you focus on the candle pattern,
which is really important. Here.We then look at does the trade
have stop loss protection? Is inthe right part of the chart. Have
(06:00):
we got room to move for ourprofit target? All those things on top,
but just the absolute basics to identifythis trade was the candle pattern here
on the German forty. You cansee the trade down here again high reward
to risk. So this is areversal big up trend. We're then taking
a cell limit looking for the priceto first open, go up, and
(06:21):
then four Now, same thing here. If you look at the open of
that candle in here, it's roughlyaround what eighteen two hundred and twenty two.
My entry level was eighteen thousand,two hundred and ninety three, So
I'm needing the price to pull backup first, and then when it hits
(06:41):
that level, then reverse and youcan see exactly what that's done. And
again it's just recently closed at seventeenthousand, eight hundred and seven, which
is in just above where we areright now, so you can see as
a reversal trade, I'm not neededthis to come all the way back down
here. We just have a specificprofit target in mind that we're looking for
(07:06):
there, and this because of thenature of the way we enter and next,
it gives us those high rewards torisk trades as you can see here.
So reversal trade there on the weeklychart, continuation trade here on the
monthly chart, both profitable, bothhigh reward to risks. If you're looking
for a forest broke, I canhighly recommend blueberry markets. I've been with
(07:28):
blueberry markets for years and years,a great bunch of people and great chatting
software. Lots of markets as well, they're really really good. I'll put
a link to Blueberry Markets so youcan open an empty four or empty five
account with them. And the otherthing. If you've not been on my
free one hour master class, it'san on demand master class. It takes
(07:50):
you through kind of similar tones I'vejust shown here, but lots more examples
about what we do, how wetrade, etc. Give yourself an hour
to jump onto that. Up alink to that as well. If you're
out there looking to learn how totrade, look no further than us.
We've been trading. I've been tradingmyself for about twenty years and coaching for
(08:11):
fifteen years. Very proud of theway that we have built up the Fust
Trading Coach over the years to helpso many people from all parts of the
world to be successful. By theway, both these trades that I've shared
with you are here, the twowinning trades and the two losing trades.
We're all on our membership site forour clients to follow and to learn from
(08:31):
and to earn from. So that'sit for this week. I look forward
to catching up with you this timenext week with some more trades to share
with you and any questions you have, please send me an email directly Andrew
at Theforust Trading Coach dot com.If you're on YouTube, please like,
share, subscribe, and if you'reon the podcast, hope you enjoyed listening
(08:52):
and hopefully you can get to lookat these trades on your charts as well.
I see this time next week byfinat
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