Forex Trading Plan for the Week — Full Breakdown & Transcript

[02:03] Today is bank holiday. As you can see from the from Forex Factory, today is bank holiday in Europe today is bank holiday in Europe in Great Britain and the in the US. So,

[02:16] I don't expect much movement from the market today because of this. Okay? Then tomorrow um there's a news

[02:29] on Wednesday. We have some AUD high impact news. US dollar high impact news on Thursday and British and GBP high impact news on Friday. So, there's no really nothing much

[02:46] that is going to affect the charts um this week. Maybe apart from today. Apart from today being that only being that today we're not going to see a lot of movement um because of the bank holidays.

[03:01] We're looking at the Forex market. We'll be We'll be analyzing our regular pairs. there is some clarity in the market right now, which is what I want to show you guys right now. We're

[03:15] going to start from the or the from the dollar index. Okay? I always say this every every Monday. We had a break of structure down here. And each end of character down here, which means that the US dollar is very

[03:29] bullish. It simply means that after this, we had this retracement down this way into this region. And now, our target is to take out this particular high. This is just a direction of the US dollars on

[03:45] the higher time frame. If you go down to the lower time frame, If you go down to the lower time frame, what can we see?

[04:01] price has after price took off from this zone, this demand zone, we had a movement upward that broke

[04:17] So, what is expected is after the is we had a we've been having a a range here. So, what is it then from here to again

[04:31] retrace back into this region, then go at to attack to attack here. And we can do similar thing. Price could do similar thing until it takes out this particular um high. So, this is the direction for

[04:45] right now? Right now, what's am I going to be trading? Is this. One is this is just the place to wait for.

[04:59] This is where you want to wait for price to come to before you take But, this may not happen this week. So, it doesn't mean you're going to wait the whole of the next week for you to take a trade.

[05:11] from here, we can start looking for entries. This is the line, this particular line. Once we break below this line, once we break below this line with a candle body closure this way,

[05:26] then we can start looking for opportunities to take a short position Okay? Until we get to this particular region, then this is where we start looking for entries to go higher.

[05:39] This is just the plan. So, since we are waiting for this particular line on the US dollars us break, so we can look start looking for short positions. It means that the opposite is going to happen for the

[05:51] EUR/USD on the higher time. For EUR/USD. Okay, so it means that we're looking for a break in the in the euro, we should be um a a price to break to the upside and

[06:05] long positions um before we now start looking for short position once we get to a zone like this on EUR/USD. So, that's the let us get straight to the USD. Okay?

[06:18] And there's something I haven't said here because I know you guys know here because I know you guys know that every that I like to know where you guys are

[06:33] attending live from. Just simply tell me the city the city and the country. attending this live from. So, this is the EUR/USD.

[06:47] Okay? Yes, Deeps, I see you. Deeps is here. Yes, Deeps, I see you. Deeps is here. See you very well.

[07:04] I'm going to go to the 4-hour time frame. Abuja, Nigeria. Tressily.

[07:19] Tressily. See What is it? Jamaica? If I'm correct.

[07:34] Oh, there's another from Abuja. Most of you in this show are just from Abuja. Welcome, Deeps. Welcome. Um

[07:53] We We have this week over over here. Then, on the lower time

[08:05] time frame, on the other side, we had a change of character here. Um After this change of character, what do I expect? Price to retrace this way. Then, this is a target. This

[08:21] is a target. This is where we are going to. We just have to look for how to get to that particular Okay? So, I'm going to go back to the 1-hour

[08:34] to really dive into this. So, again, I said just like we did with the this

[08:50] the this this currency is is EUR/USD, okay? We'll do forex today. Tomorrow, we'll do This This currency is EUR/USD. So,

[09:04] here, we had a break of structure. I I want to say it again, this is the target here. This line over here is a target.

[09:16] are going to. We're just looking for how to get in to get here. He over here is

[09:37] we sure we're looking at something like this. something like this. Price should go this way. for and

[09:52] here. Yeah.

[10:04] we're probably looking for what is to go long on the 1 hour. Let me zoom in. Sorry. Okay? Now, this is not showing on the 1 hour. the last high on the 1 hour. Okay? But if I is

[10:18] just show you that. On the 30 minutes, it's not. On the 15 this shows to be a break of structure. This particular one. higher time frame. Okay? If this is valid,

[10:33] then what it simply means is this. a retracement this way, this way, then we can look for opportunities

[10:54] to go long to this particular region. Yeah. because what we have here is uh

[11:12] character. What we have here is also a break of structure, but only waits to This is a more If this goes this way, If this goes this way, then it is a more um

[11:25] It's more It's a more solid A+ setup than this particular one. It means into this region to take this um trade high.

[11:43] if we have confirmations on the high on the lower time frame, that is what's really really matters when you have confirmation on the lower time frame.

[12:05] for the euro from here. two things. One is this region. This region is is the

[12:20] golden zone. Okay?

[12:34] you you'll see that this golden zone actually doubled as the demand zone. So, what I expect is this. If price from where it is then

[12:48] go to the 5 minutes. This is very important. Go to the 5 minutes and look for a confirmation entry. Okay? Once you get it, then it's go to enter this trade to

[13:01] um for this particular for here. Now, if you're very good with this, you can actually look for a trade take this down, but it is safer to look for this

[13:13] look for long from here. And when it gets here, we'll start And when it gets here, we'll start looking for shorts from here. It's It's really simple. Um long from here.

[13:38] here. We'll go lower target this first before um looking at any other thing. Uh GBP GBP is not really clear

[13:51] um from It's not as clear as as we had EUR/USD. EUR/USD. It's not as clear as EUR/USD.

[14:12] action here. This is what This was the This You should I say this is the golden or the golden month of GBP because there was a lot of opportunities here. been that nice.

[14:26] And some movements are unexpectedly um hazard of pips. So, what do we have? We have this change of character this change of character here.

[14:53] because of the change of character, we should expect But then again, why I'm not totally agreeing with this is because of if you

[15:06] agreeing with this is because of if you look at correlation from the DXY and the euro this might not hold. This might not hold. So,

[15:19] personally, I I not take this because um um because of that correlation. So, if if the DXY is saying something, Euro is saying similar

[15:31] thing and GBP is saying a totally different thing, it should correlate but have to just stay your hand and just wait. What do I do? wait. What do I do? Um

[15:43] I I it's better I just keep away first or really really go in and observe everything well before taking any trade. But looking at this, there's still there's still a trade that is very possible, just the like the trade we saw

[15:57] on the trade we have the trade we have on um So, this here on this time frame is a breaker

[16:12] structure, clear breaker structure. This day I agree. Even if our target Even if we this is our our target. If we look at here, if we take this from this low

[16:26] because this is the low of this breaker structure, you notice that this is my zone.

[16:45] And we have an order block here. This is a demand zone over here.

[16:58] We also have there's also another demand zone below here. Okay? So, this is simply the region I this region here is the region I might look for

[17:12] confirmation entry to take a long position from here. GBP. If this happens, then I'm doing this for

[17:24] The same thing with here. If this happen, I'm doing this for Euro. For AUD, it's simply the same thing. But I want to see this high taken out for AUD.

[17:37] I want to see this high taken out before I do the same thing. So, this high is then I want to take a long position from here

[17:49] for AUD to go high. But a short from here, I don't know But a short from here, I don't know because this is still um close like

[18:03] really are not really giving me the same signal that Euro and DXY is giving me. So, I have to be very careful in trading from here when price gets here. But from here, I'm very really okay taking

[18:17] here. The final The final thing we're going to look at is simply the

[18:33] um is simply gold. More people, we have Precedia from Lokoja. You are welcome. Yes, I'm inside the currency. I do Ikondo.

[18:50] I see you. Abel from Togo, Lome, Togo. Welcome. Then my brother from Enugu, Omere in Nigeria. That's actually where

[19:05] I'm from. So, you're welcome. I see you, Emeka. what are we looking at for gold? Uh this if you trade gold this this is

[19:18] this is really really clear like it's so clear. This is really clear clear if you trade gold. So, for gold this is a break of structure here. Clear. Break of structure.

[19:32] Then if you look at that um 4-hour order block. So, I'm going to mark it here 4-hour supply zone.

[19:49] marked out. I'm going to back to the 1-hour. So, what does this mean? This simply means that if gold come all the way to this if you if gold find his way to this high

[20:07] this is where I look for confirmation on the 5 minutes take a short position on gold. This trade I mark it as very very this is an A if the if gold comes here it is an A setup.

[20:23] Okay, it's an A setup. If gold comes here mission entry look for it.

[20:45] I I I just believe it it can be above seven. If you get the setup from this very positive um trade if you trade um gold. But on the on the lower time frame

[21:00] the same thing um I want to see if I'm to take this trade I want to see price break above this, then retracement to fill this that gap,

[21:13] then confirmation to take it higher to this So, this is a riskier trade. This is a higher probability trade. So, you can do this,

[21:27] you can take this one if it happens. You can actually do You don't have to take this one if it happens. This one is optional if clean, then go ahead and do it. If it's not,

[21:41] just wait for this particular one. This might happen later this week. This is So, this is my This is what I'm looking at for these currencies, um Euro, GBP, Australian Dollar,

[21:57] and gold. Tomorrow, we'll look at Bitcoin. Bitcoin and Ethereum, Solana, probably XRP to see the opportunities that lie

[22:14] XRP to see the opportunities that lie that are there to trade in the crypto markets.

[22:37] have Let's have a very um profitable I'll see you guys tomorrow. tomorrow. Bye, everyone.