ABSTRACT

LEARRN
HOW TO
TRADE LIKE
THE PRO’S
AND START
EARNING
AS NOW

Eryq
Mutune
FOREX
TRADING

THE YOUNG BILLY

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Foreign exchange Market

-The foreign exchange market (Forex, FX, or Currency market) is a global

decentralized or over-the-counter (OTC). Market for the trading the currencies.
-This market determines foreign exchange rates for every currency.
-It includes all aspects of buying and exchanging currencies at current or
determined prices.
-In terms of trading volume, it is by far the largest market in the world, followed by
the credit market,
-The main participants in this market the larger international banks, financial
centers around the world.
-Forex market runs from Monday to Friday.
-Foreign exchange market is unique because of the following characteristics:
 Its huge trading volume, representing the largest asset class in the
world leading to high liquidity.
 Its geographical dispersion.
 Its continuous operation : 24 hours a day except on weekends I.e.,
trading from 22:00 GMT on Sunday (Sydney.) until 22:00 GMT Friday
(New York);
 The variety of factors that affect exchange rates;
 The low margins of reflective profit compared with other markets of
fixed income ; and
 The use of leverage to enhance profit and loss margins with respect
to account size.

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ADVANTAGES OF FOREX
1. It requires low capital- some brokers allow deposits of 5 dollars.
2. NO labour costs required.
3. Accessible anywhere so long as there’s internet connection.
4. Transactions can be made at any time of the day.
-there are various methods of transactions.
Currency pair
Example:
GBPUSD

Quotient
Base currency
currency

-We usually trade the base currency against the quotient currency.
PIP
-The smallest change in the value of a currency against another currency.
Example
AUDCAD 0.86608

FRACTIONAL PIP
PIP
-A profitable trader always calculates the amount he/she is risking and the reward.
Profit/loss=pips*lot size*10
RISK TO REWARD RATIO.
-Is the stop loss distance to target price distance in pips
SL:TP
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Candlestick patterns

-Different candlestick patterns have an importance in indicating what is happening

in the market.
-They pottery different psychology that is meaningful in decision making to
execute trades.
1. Inside bar candle.
-This is whereby the first candle has a bigger range than the next candle.
-It indicates reversal of trend.
-The colour of the candle here matters a lot.

a. Bullish inside bar candle.

- A large bearish candle followed by a small bullish candle.

-Indicates reversal of a downtrend to an uptrend after breaking the

pattern upwards.
b. Bearish inside bar candle.
-A large bullish candle followed by a small bearish candle.

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-Indicates reversal of an uptrend to a down trend after breaking the

pattern downwards.
2. Doji candle.
-Means that there is indecision in the market… in that the market opened
and closed at the same price.

- A break after the indecision is an added factor of confluence.

-upward break creates a buy option.

-downward break creates a sell option.

3. Pin bar candle.

-A candle that has a hummer like shape…where it has a small body and one
of it shadow is larger than the other shadow…. In fact it covers ¾ of the
whole range of the candle.

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-The colour of the candle doesn’t matter but its shape does a lot.
 Bullish pin bar
-It’s lower shadow is longer than the upper shadow and it covers ¾ of
the rage of the candle.

-psychology behind it is that sellers tried to push the price downwards

but buyers overcome them and pulled the price back upwards before
the candle closes.
-Indicates that buyers are stronger than sellers…price is most probably
to rise. This creates a buy option.
 Bearish pin bar
-It’s upper shadow is longer than the lower shadow and it covers ¾ of
the range of the candle.

-psychology behind it is that buyers tried to push the price upwards but
Sellers overcome them and pulled the price back downwards before
the candle closes.
-Indicates that sellers are stronger than buyers. Price is most probably
going to fall. This creates a sell option

4. Engulfing candle
-When the first candle is full covered by the second candle.

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-Here the colour of the candle matters a lot in interpreting what is actually
happening.

-It’s an indication of reversal of trend.

 Bullish engulfing
-This where the first candle is bearish and it is fully covered (engulfed) by the
second candle which bullish.

-It indicates reversal of a downtrend to an uptrend once price breaks from

the pattern moving upwards thus creating a buy option.
 Bearish engulfing
-This is where the first candle is bullish and it is fully covered (engulfed) by
the second candle which is bearish.

- It indicates reversal of an uptrend to a downtrend once it breaks from the

pattern moving downwards thus creating a sell option.
NB
-The candlestick pattern should appear at relevant positions like
support at resistance levels for it to be effective.

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TYPES OF ORDERS

 Market execution
-Type of order where you buy or sell at the current market price (bid/ask
price).

 Pending order
-Type of order where you place your buy/sell order but it is no triggered
instantly.
1. Limit orders
2. Stop orders
 Limit orders
 Buy limit order
-Type of order where you buy lower than the current market price
(bid price).
 Sell limit order
-Type of order where you sell higher than the current market price
(ask price).
 Stop orders
 Buy stop order
-Type of order where you buy higher than the current market price (bid
price).
 Sell stop order
-Type of order where you sell lower than the current market price (ask
price).

-Limit orders are used to enter a trade when the price has already
moved without you hoping that the price will came back and trigger
your order.
-Stop orders are used to place trades in direction of the trend after

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TYPES OF ENTRIES
 Aggressive
 Conservative
 Aggressive
-It’s somehow greedy or inpatient where you want to maximize profits.
 Conservative
-When you patiently wait for confirmations like triggers and retests.

Example that illustrates the entries

Conservative

Aggressive

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Fibonacci Numbers

•Fibonacci numbers: 0,1,1,2,3,5,8,13,21,34,55,89,144,233…

•Each number is 1.618 times greater than the preceding number
•Golden Ratio
•1.618 is called Phi (Golden Ratio). Inverse is 0.618
•The 38.32% ratio is derived from dividing a number in the Fibonacci series
by the number 2 places to the right 89/233 = 0.382
•The Golden Ratio mysteriously appears in nature, architecture & biology
Fibonacci in Nature

DNA molecule 34/21 = 0.618 angstroms

Human body

Tree (stem and branches)

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Uptrend

Target 1: 100%
B

50 %, 61.8% Retracement
C

When the corrective wave of an uptrend retraces to the 50% or 61.8%

level, it has a higher probability of continuing the trend.
-Next target projection is 100% level
Fibonacci Retracement Levels

Is it a 50% or 61.8% retracement?

B

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Fibonacci Retracement Levels

Drag to B

Fibonacci

C is at 50%

Click on A

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Fibonacci Retracement & Projection Levels
ADowntrend
C
50 %, 61.8% Retracement

B
Target 1: 100%

-When the corrective wave of downtrend retraces to the 50% or 61.8%

level, it has a higher probability of continuing the trend, next target
projection is 100% level.

Fibonacci Retracement & Projection Level

A

Is it a 50% or 61.8% retracement?

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Fibonacci Retracement & Projection Levels

Click on A

C at 61.8%

Fibonacci

Drag to B

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Confluence of Fibonacci level + Support/Resistance

Resistance + Moving Average

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Forex rules
1. Early everyday check the forex factory on the red major news.
-Set alarms of the red news to trade 10 minutes before the news release.
2. Check the fx-helper on the strength of currencies on different timeframes.
- (H4-H1) and (H1-M15)
3. Check the fx-hours to know which pairs of currencies are active.
-Trade active currencies their price movements are vigorous.
-Trade either: Two active currencies.
One active currency and the other to be really strong or weak.
4. Once I get the pairs to trade look at the chart window, try to figure out the
psychology behind it, draw the high and the lows on the higher timeframes since
these are supply and demand zones and apply the strategies that you have
mastered.
5. on identification of a valid trade:
-Position size- risk 5%-10% of your capital.
-Place a bracket order. -entry price
-stop loss
-stop loss
- i.e The stop loss should be:
>8 pips and >12 pips for GBP on M15. 1.5ATR
AND
>24 pips and >36 pips for GBP on H1. 1.5-2ATR
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-It should be below/above the recently tested moving average.
6. Once an order is placed don’t look at it. Let it hit your profit target or your stop
loss.
- Fire and forget strategy proven to be really profitable in the long run
7. Low risk filters.
No major red news in the next 10 candles.
No major resistance/support levels between Entry price and profit target.
Exit trades before a trading day/week ends. At 0.00am.
Do not buy too high nor sell too low stretched from the moving average. Price
tends to bounce back.
8. Take only high profitable trades.
-Check on the factors of confluence before taking a trade. NOT DOING
SOMETHING IS DOING SOMETHING.
-DO NOT CHASE TRADES let the trades come to you, Patience is a virtue here.
9. In case when the trade is in profit you can always shift your stop loss in profit to
secure your profits.

TRADING STRATEGIES
1. IMPULSE PULLBACK STRATEGY.
-Optimum at M15.
Short setup
-Short setup signaled by the 6EMA crossover below the 18EMA.
-Moving average alignment (6EMA<18EMA<50EMA<200SMA) on M15 and H1
timeframes.
-At the crossover we should have a swing low candle or after the crossover.
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-Next candle after the swing low candle should be a pullback candle.
-Maximum of 3 pullback candles.
-unlimited no. of inside bar candles.
ENTRY-sell stop order below the last pullback/inside bar candle
STOPLOSS-2ATR/Above the high of the pullback/inside bar candle/Above the
recently tested moving average.
TARGET PRICE-Should be 1.5R (Optimum).
HIGH PROBABILITY TRADE
-The last pullback/inside bar candle to be a pin bar and/ to be testing the moving
averages.
INVALID TRADE
-When the 6EMA crosses above the 18EMA.
18EMA
-When price pulls back and breaks above the 50EMA.
6EMA

18EMA

6EMA

Pullback

Impulsive Pullback inside

Impulsive
candles candles SL
candles
SL.

ca
Long setup
-Long setup signaled by the 6EMA crossover above the 18EMA.
-Moving Average (6EMA>18EMA>50EMA>20OSMA) on M15 and H1 timeframes.
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-After the crossover we have the swing high candle or next candle after the
crossover.
-After the swing high candle we should have pullback candle or inside bar candle.
-Maximum of 3 pullback candles.
-unlimited no. of inside bar candles.
ENTRY –buy stop order above the last pull back candle or inside bar candle
STOPLOSS-2ATR/ below recently tested moving average.
TARGET PROFIT-1.5R (optimum).
HIGH PROBABILITY TRADE
-The last pullback /inside bar candle to be a pin bar and/should be testing the
moving averages.
INVALID TRADE
-When the 6EMA crosses below the 18EMA.
-When the price pulls back and breaks below the 50EMA.
Impulsive SH Impulsive
candles SH Inside bar
Pullback candles
candles
Pullback

6EMA
6EMA

18EMA
18EMA

2. BULL FLAG SURF STRATEGY.

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INDICATORS
a. Moving Averages.
b. ATR (14) black.
c. TCE200.
d. ADX (mark level 25).
-Optimum M15 timeframe.
Long setup
-Trend up. 6EMA>18EMA>50EMA>200SMA on M15 and H1 timeframes
(Higher timeframe alignment).
-ADX should be above 25. (Indicating that the trend is strong)
-Price to be bouncing of the 6EMA or the 18EMA.
-Impulsive candles.
-Corrective candles.
C

Bullish bull flag surf

ENTRY-Buy stop order above the last corrective candle.

STOPLOSS-2ATR/below the last corrective candle/pattern and below the
moving average being surfed/& should be >8pips.
TARGET PRICE-1.5R (Optimum).
HIGLY PROBABILITY TRADE
-The last corrective candle to be a pin bar and to be testing the moving
average surfed
INVALID TRADE
-Trade is invalid when the price corrects and breaks the moving average
surfed by a big margin.

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C
I 6EMA

18EMA
C
I
50EMA
C
200SMA

Short setup
-Trend down 6EMA<18EMA<50EMA<200SMA. On both M15 and H1 timeframes.
-Strong trend: ADX to be above 25.
-Price should be bouncing of the 6EMA or the 18EMA.
-Impulsive candles.
-corrective candles.

.
I

Bearish bull flag surf

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ENTRY-Sell stop order below the last corrective candle.
STOPLOSS-Above the last corrective candle/pattern which should be 2ATR, >8pips
and above the moving average being surfed.
TARGET PRICE-1.5R (Optimum).
HIGHLY PROBABILITY TRADE
-The last corrective candle to be a pin bar and to be testing the moving average
surfed (6EMA or 18EMA).
INVALID TRADE
-Trade is invalid when the price corrects and breaks the moving average surfed by
a big margin.

200SMA

I
C
50EMA
C
18EMA
I
6EMA

3. FX IMPULSE PINBAR STRATEGY

INDICATORS
a. Moving average.
b. ATR (14) black.
c. TCE200.
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d. ADX (Mark level 25).
-Optimum M15.
Long setup
-Signaled by the 6EMA crossover above the 18EMA.
-Trend up alignment:
-6EMA>18EMA>50EMA>200SMA on both the M15 and the H1
Timeframes.
-A bullish pin bar within the next 10 candles after the crossover.

Bullish pin bar candles

ENTRY-Buy stop order above the bullish pin bar.
STOPLOSS-2ATR and />8 pips below the bullish pin bar and should be below the
moving average recently tested.
TARGET PRICE-1.5R-2R (Optimum).
HIGHLY PROBABILITY TRADE
-The bullish pin bar should be testing the 6EMA & 18EMA and even highly
probable when testing the 50EMA / the recently tested Moving average.
INVALID TRADE
-When the bullish pin bar appears after the first ten candles after the crossover.
-when 6EMA crosses below the 18EMA again.

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6EMA

18EMA

50EMA

Short setup
-Signaled by the 6EMA crossover below the 18EMA.
-Trend down alignment.
6EMA<18EMA<50EMA<200SMA on both the M15 and the H1 timeframe.
-Occurrence of a bearish pin bar within the next ten candles after the crossover.

Bearish pin bar candles

ENTRY-Sell stop order below the bearish pin bar.

STOPLOSS-2ATR&/ >8pips below the bearish pin bar and should below the recently
tested moving average.
TARGET PROFIT- 1.5R to 2R (Optimum).
HIGHLY PROBABILITY TRADE
The bearish pin bar should be testing the 6EMA & the 18EMA and even more
probable when testing the 50EMA/ the recently tested moving average.
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INVALID TRADE
-when the bearish pin bar appears after the first ten candles after the crossover.
-When the 6EMA crosses above the 18EMA again.

50EMA

18EMA

6EMA

NB: The upper/ lower shadow of the bearish/bullish pin bar should
Be ¾ of the range of the candle.

4. THE EMA BOUNCE STRATEGY

INDICATORS
a. Moving Averages.
b. Average True Range (period14) black.
c. Fibonacci tool.
d. TCE200/TCE Dashboard.
-Optimum at M15 and H1 timeframes.
-Price tends to bounce off one of the moving averages acting like relevant
support/resistance.
Long setup
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Recent Swing high

50 EMA
Previous Swing high

Recent Swing Low

Previous Swing Low

-Uptrend bias on both the lower timeframe (M15/H1) and on the upper timeframe
(H1/H4).
-18EMA>50EMA>200SMA.
-Series of candles;
-Impulsive candles.
-Corrective candles.
-Enter on formation of a trigger at the end of the corrective wave.
-Bullish engulfing candle break upwards.

-Consolidation of candles break upwards.

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-Doji candle break upwards.

-Pin bar-Enter just above it.

-End of corrective wave is estimated by:

-Fibonacci retracement level (38.2/50/61.8).
-When price tests the recently tested Moving Average.
ENTRY-Buy stop order just above the trigger.
STOPLOSS-2ATR and should be below the recently tested moving average (50EMA)
TARGET PRICE-1.5R/2R Optimum and below the recent high.
Recent Swing high
Target Price

2R
Previous Swing high
Entry @Recent Swing Low
1R
Stop loss

Previous Swing Low

50 EMA

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HIGHLY PROBABILTY TRADE
-When the trigger formed is a pin bar testing the recently tested Moving Average.
INVALID TRADE.
-When price corrects and breaks the recently tested moving average/61.8
Fibonacci retracement level.

6EMA

18EMA
C

50EMA

200SMA

Example bouncing off the 50EMA

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-Uptrend wave pattern (Recent swing high is higher than
previous swing high, recent swing low is higher/equal to
previous swing low)?

Is this a Valid Wave Pattern?

M15 MA Bounce Long Setup -GBPCHF

Recent swing high

Target Price
GBPCHF 29 Nov Previous swing high
Sell Limit Order 1.3300
18 EMA>50EMA>200SMA
1R =38 pips
Entry
Buy Limit Order 1.3262
50 EMA recently tested 1R =19 pips
Sell Stop Order 1.3243
Stop Loss

Recent swing low

Previous swing low

50 EMA recently tested

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MA Bounce Long Setup- GBPCHF
H1 H1 Must Be Aligned

Target Price
GBPCHF 29 Nov Sell Limit Order 1.3300
18 EMA>50EMA>200SMA
Buy Limit Order 1.3262 Entry

Sell Stop Order 1.3243 Stop Loss

M15 MA Bounce Long Setup- GBP CHF

Target price Reached

Target Price
GBPCHF 29 Nov

2R =38 pips
Entry

1R =19 pips

Stop Loss

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Short setup

Previous
Swing high Recent
50EMA
Swing high

Previous
Swing Low
Recent
Swing Low
-Down trend bias on both the lower timeframe (M15/H1) and the higher
timeframe (H1/H4).
-18EMA<50EMA<200SMA.
-Series of candles:
-Impulsive candles.
-Corrective candles.
-Enter on formation of a trigger at the end of the corrective wave:
-Bearish engulfing candle break downwards.

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-Consolidation of candles break downwards.

-Doji candle break downwards.

-Bearish pin bar candle-Enter just below it.

-End of corrective candle estimated by:

-Fibonacci retracement level (38.2/50/61.8)
-When price tests the recently tested Moving Average.
ENRTY-Sell stop order below the trigger.
STOPLOSS-2ATR & should be above the recently tested Moving Average.
TARGET PRICE-1.5R Optimum.

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Swing high
50EMA
Stop loss
1R
Entry Recent
Swing high
2R
Previous
Target Price
Swing Low
Recent

200SMA

50EMA

I 18EMA
C

I
6EMA
C

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-Downtrend wave pattern (Recent swing high is lower than previous
Swing high, recent swing low is lower/equal to previous swing low

Is this a Valid Wave Pattern?

M15 MA Bounce Short Setup- NZDJPY

NZDJPY 16 Nov 18 EMA<50EMA<200MA

50 EMA recently tested
Recent
Swing high
Previous
Swing high
Stop Loss
Buy Stop Order
Entry 1R =8
pips
Sell Limit Order

2R =16
Previous pips
Target Price
Swing low
Buy Limit Order

Recent
swing low
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H1 MA Bounce Short Setup-NZDJPY
Ensure H1 is Alignment

18 EMA<50EMA<200MA
NZDJPY 16 Nov

Stop Loss
Buy Stop Order
Entry
Sell Limit Order

Target Price
Buy Limit Order

M15
MA Bounce Short Setup-NZDJPY Target Price Reached.

NZDJPY 16 Nov 18EMA<50EMA<200MA

Stop Loss
Buy Stop Order
1R =8
Entry
pips
Sell Limit Order
2R =16
pips
Target Price
Buy Limit Order
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HIGHLY PROBABILITY TRADE
-When the trigger formed is a pin bar testing the recently tested moving average.

INVALID TRADE
-When price corrects and breaks the recently tested moving average/61.8
Fibonacci retracement level.
5. TREND CONTUNUATION STRATEGY
INDICATORS
a. ZigZag tool (6, 5, 3) Black.
b. Average True Range (period 14) Black.
c. Fibonacci retracement tool.
d. TCE200/Dashboard.
-Optimum at M15 and H1 timeframes.
-Price moves impulsively and correctively in direction of the trend.

Short the Rally

Long the Dip

Long setup
-Uptrend bias on both the lower timeframe (M15/H1) and the higher timeframes
(H1/H4).
-The current swing high to be higher than the previous swing high.
-The current swing low to be higher than the previous swing low.

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-Series of candles.
-Impulsive Candles.
-Corrective candles.
Current
High
Current
High
Previous Previous
High High

Entry 18 EMA
Current Current
Low 50 EMA Low
Previous
Previous
Low
Low

200 SMA

-Enter on formation of a trigger at the corrective wave (at current swing low)
-Bullish engulfing candle break upwards.

-Consolidation of candles break upwards.

-Doji candle break upwards.

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-Pin bar-Enter just above it.

-End of corrective wave is estimated by:

-Fibonacci retracement level (38.2/50/61.8).
-When price tests the recently tested support level (trend line).
ENTRY-Buy stop order just above the trigger.
STOPLOSS-2ATR & should be below the support level (trend line).
TARGET PRICE-1.5R Optimum.

Target Price
Current Swing high

2R
Previous Swing high
Entry
1R Current Swing Low
Fibonacci
level Stop loss

Previous Swing Low

EMA

HIGHLY PROBABILTY TRADE

-When the trigger formed is a pin bar testing the recently tested Moving Average.
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INVALID TRADE.
-When price corrects and breaks the recently tested support line (trend line) /61.8
Fibonacci retracement level.
Bullish Engulfing

Current Swing high Consolidation (>=4 candles)

Previous Swing high

Fibonacci level

Current Swing Low

= Fibonacci level and Or EMA support

Previous Swing Low

EMA

C
I

P.S.H

C
C.S.L

C.S.H
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TCE Long example
M15 TCE Long Setup -GBPUSD

Previous swing high

Target Price Sell Limit Order 1.3534
GBP USD 2 Jan Current swing high
18 EMA>50EMA>200SMA 2R =18 pips

Entry Buy Stop Order 1.3516

Bullish Engulfing 1R =9 pips

Stop Loss
Sell Stop Order 1.3507
Previous swing low

Current swing low @

50 EMA support

TCE LONG SETUP-GBPUSD

H1
H1 Must Be Aligned
ENTRY
GBPUSD 2 Jan

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TCE LONG SETUP-GBPUSD

Target price Reached

Target Price
Sell Limit Order 1.3534

Entry upon price break

above high of Engulfing
Pattern

Entry
Buy Stop Order 1.3516

Stop Loss
Sell Stop Order 1.3507

Bullish Engulfing

Short setup
-Downtrend bias on both the lower timeframe (M15/H1) and the higher timeframe
(H1/H4).
-The current swing high to be lower than the previous swing high.
-The current swing low to be lower than the previous swing low.
-Series of candles:
-Impulsive candles.
-Corrective candles.

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Previous

Previous high
200 SMA
High
Current
50 EMA high
Current
High
18 EMA
Entry

Previous Previous
Low Low

Current
Low
Current
Low

-Enter on formation of a trigger at the end of the corrective wave.

-Bearish engulfing candle break downwards.

-Consolidation of candles break downwards.

-Doji candle break downwards.

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-Bearish pin bar candle-Enter just below it.

-End of corrective candle estimated by:

-Fibonacci retracement level (38.2/50/61.8)
-When price tests the recently tested resistance level (trend line).
ENRTY-Sell stop order below the trigger.

STOPLOSS-2ATR & should be above the recently tested resistance level (trend
line).
TARGET PRICE-1.5R/2R Optimum.
Current
Swing high
EMA Swing high
Stop loss
1R
Fibonacci level
Entry

2R
Previous
Target Price
Swing Low

Current

HIGHLY PROBABILITY TRADE

-When the trigger formed is a pin bar testing the recently tested resistance level
(trend line).

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INVALID TRADE
-When price corrects and breaks the recently tested resistance level (trend
line)/61.8 Fibonacci retracement level.
Bearish Engulfing

Consolidation (>=4 candles)

Previous
Swing high Current
EMA
Swing high

Fibonacci
level Current Swing High
Previous = Fibonacci level and or EMA Resistance
Swing Low
Current Swing low

P.S.H
H

C.S.H

I
C

P.S.L I
C
C.S.L

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TCE SHORT EXAMPLE
M15 TCE Short Setup- GBPUSD

GBPUSD 11 Jan Apr

18 EMA<50EMA<200MA
Current
Previous swing high
swing high at 50EMA

Stop Loss Buy Stop

Order 1.3498
Bearish
1R =13 pips
Engulfing
Sell Stop
Previous Entry Order 1.3485
swing low
Target Price 2R =26 pips
Buy Limit Order 1.3459 Current
swing low
TCE SHORT SETUP-GBPUSD
H1 ALIGNMENT
18 EMA<50EMA<200MA

ENTRY

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TCE Short Setup- GBPUSD
M15
Target price Reached

GBP USD 11 Jan

Stop Loss
Buy Stop
Order 1.3498
1 R =13 pips

Entry
Sell Stop
Order 1.3485

2 R =26 pips
Target Price

Buy Limit Order 1.3459

6. NEWS SCALPING STRATEGY

-A strategy that takes advantage on rapid and large movement of price driven
by Major market news in a currency pair.
-Trade is monitored at M1 timeframe.
-M5 timeframe is for entry of orders, 3 minutes before news release.
-Two orders placed; buy and sell stop orders, 8 pips above/ below the market
Price (bid/ask price).

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-On news release first 10 seconds either of the two orders or neither or both
gets triggered.

• Note: For GBPUSD, the distance used is 12 pips

Long Entry: Buy Stop Order 1.2858

1R =8pips Market
Long Stop Loss: Sell Stop Order 1.2850 Price
1.2850 At 3
Short Stop Loss: Buy Stop Order 1.2850
Mins before
1R =8pips News
Short Entry: Sell Stop Order 1.2842

-Cancel the trade that is not triggered 10 seconds after news release.
-Exit the triggered trade 60 seconds after news release by shifting your
Stop loss in direction of the price movement to protect your profit and exit in
blue (profit).
Scenario 1 (Long Entry Triggered)
• Price moves up and triggers long entry order once news is released (within
10 seconds)
• Cancel short entry order immediately
• Exit Long Trade after 60 seconds (news 1 minute candle closes). Exit by
shifting stop loss order to latest market price.
-Outcome can be -1.5R loss to unlimited R gains (usually 2R to 10R is possible

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Long Entry: Buy Stop Order 1.2858

1 R =8 pips Market

Price
Long Stop Loss: Sell Stop Order 1.2850
1.2850 At 3
Short Stop Loss: Buy Stop Order 1.2850
Mins before

1 R =8 pips News

Short Entry: sell stop order 1.2842

Scenario 2 (Short Entry Triggered)
• Price moves down and triggers short entry order once news is released
(within 10 seconds)
• Cancel long entry order immediately
• Exit short Trade after 60 seconds (news 1 minute candle closes). Exit by
shifting stop loss order to latest market price.
-Outcome can be -1.5R loss to unlimited R gains (usually 2R to 10R is possible)

Long Entry: Buy Stop Order 1.2858

1 R =8 pips Market

Price
Long Stop Loss: Sell Stop Order 1.2850
1.2850 At 3
Short Stop Loss: Buy Stop Order 1.2850
Mins before

1 R =8 pips News

Short Entry: sell stop order 1.2842

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Scenario 3 (Neither Orders Triggered within 10 seconds)

• Upon release of the news, the price does not move enough to trigger the
long order or the short order within 10 seconds
• In this case, we cancel both long and short orders immediately.

Scenario 4 (unlikely but possible)

-It is possible that currency pairs moves rapidly in one direction and then the
opposite, triggering both long and short positions and hitting both stop losses,
resulting in a -2R or -3R outcome.

Long Entry: Buy Stop Order 1.2858

1 R =8 pips Market

Price
Long Stop Loss: Sell Stop Order 1.2850
1.2850 At 3
Short Stop Loss: Buy Stop Order 1.2850
Mins before

1 R =8 pips News

Short Entry: sell stop order 1.2842

Important Points
-Only trade this strategy with stable internet connection.
-We only trade 5 major news announcements (RED flag) with specific data.
• Non-Farm Payrolls (NFP).
• CPI (Consumer Price Index).
• GDP Data.
• Unemployment Claims.
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• Interest rates.

www.forexfactory.com
Time synced to

traders local time

GDP+ unemployment rate on CAD

CURRENCY PAIRS TO TRADE

-We only trade major news announcements (RED flag) on major currencies
 USD News -> Trade EUR/JPY/CAD USD
 GBP News -> Trade GBP USD,
 CAD News -> Trade USD CAD
 JPY News -> Trade USD JPY
 EUR News -> Trade EUR USD
 CHF News -> Trade USD CHF
 NZD News -> Trade NZD USD
 AUD News -> Trade AUDUSD

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Example:
www.forexfactory.com Time synced to
traders local time

GDP+ unemployment rate on CAD, we trade USD CAD

Examples of news scalps

9.29
Minute candle USD CAD Scalp 1 Dec
9.28
9.30 News
Long Entry 1: Buy stop 1.2888
1 R=8 pips
Price at 9.27pm 1.2880 SL 1: Sell stop 1.2880
SL 2: Buy stop 1.2880
1 R= 8 pips

Short Entry 2: Sell stop 1.2872

Short trade
Triggered
9.27
Orders placed Profit
= 58 pips (4.8R )

Short trade
Exit after
Major news at 9.30pm 1 Min candle
Closes

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USD CAD Scalp 21 Dec
Minute candle

8.27 ( Order placed )

1 R=8 pips
8.30 News
Long Entry 1: Buy stop 1.2802
1 R= 8 pips
SL 1: Sell stop 1.28000 Price at 8.27pm 1.2800
SL 2: Buy stop 1.2800

Short Entry 2: Sell stop 1.2792

Short trade triggered

@1.2786

Profit
= 48 pips (3.42R )

Short trade Exit

1.2738 After 1min
Major news at 8.30pm
Candle closes

-No indicator is required in news scalping just forexfactory.

-Early every morning check the forexfactory on updates of the red major news.
-set alarms 10 minutes before the news release to prepare for the trade.

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USD CAD Scalp 22 Dec

Minute candle

Long trade

Exit after 1min

Candle closes

@1.2775

Profit

= 46 pips (1.9R )
Major news at 8.30pm

Long trade

Triggered &

Filled 1.2729

8.27
Orders placed
Long Entry 1: Buy stop 1.2713

1 R=8 pips
SL 1: Sell stop 1.2705
Price at 8.27pm 1.2705
SL 2: Buy stop 1.2705
1 R= 8 pips

Short Entry 2: Sell stop 1.2697

8.30 News

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7. TRADING THE RANGE

INDICATORS
a. Moving Averages.
b. Average True Range (period 14) black.
-A strategy that seeks to long FX pairs that are at the
bottom of a consolidation pattern within a bigger uptrend
and shorting FX pairs at the top of a consolidation pattern
within a bigger downtrend.

Consolidation pattern Resistance

Support
-Optimum at M15 and H1 timeframes.

Long setup

-FX pair in a consolidation (Range) making same highs and same lows
• Resistance level tested 3 times
• Support level tested 3 times
-50 EMA is above 200SMA (Uptrend Bias)
-The support level is above the 200SMA.
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-Higher time frame H1/H4candles on Uptrend (Price>50EMA>200SMA)
-ENTRY-Buy Limit Order at support level of consolidation.
-STOP LOSS-Should be 2ATR below the support level/ Moving average
that support the price strongly.
-TARGET PRICE-Place a Sell Limit Order at the Resistance level of the
consolidation.
-1.5R optimum.
‘Trade the Range’ Long Setup

Resistance tested 3x TP: Sell limit 7792

1.5 R = 13 pips

Entry: Buy limit 7779

Support tested 3x 1 R = 8 pips

50 EMA above 200MA SL: Sell Stop 7771

Stop loss below the 200SMA

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HIGH PROBABILITY TRADE
-when stop loss is below the 200SMA.
INVALID TRADE
-When the support is not tested 3 times previously.
-when price breaks the support level.
-when the 50EMA crosses below the 2000SMA.
TRADING THE RANGE LONG SETUP EXAMPLE:

USD JPY 4 Oct

Resistance tested 3x Sell limit 9758

1.5 R = 12 pips

Support tested 3x Buy limit 9746

1 R = 8 pips

Sell Stop 9738

50 EMA above 200MA

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SHORT SETUP
-FX pair in a consolidation (Range) making same highs and same lows;
• Resistance level tested 3 times.
• Support level tested 3 times.
-50 EMA is below 200SMA (Downtrend Bias).
-Resistance level is below the 200SMA.
-Higher time frame H1/H4 candles on Downtrend (Price < 50EMA <200SMA).
-Entry-Sell Limit Order at Resistance level of consolidation
-Stop loss-Should be 2ATR above the resistance level/Moving Average that
resist the price strongly.
-Target Price-Place a Buy Limit Order at the Support level of the
consolidation.
-1.5R optimum.

Stop loss above the 200SMA

NZD JPY 13 Nov
SL: Buy Stop 78.84
50 EMA below 200MA
1 R = 8 pips

Resistance tested 3x Entry: Sell limit 78.76

1.5 R = 12 pips

Support tested 3x TP: Buy Limit 78.62

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-HIGH PROBABILITY TRADE.
-When the stop loss is above the 200SMA.
-INVALID TRADE
-When the resistance is not tested 3 times previously.
-When price breaks the resistance.
-when the 50EMA crosses above the 200SMA.
TRADING THE RANGE SHORT SETUP EXAMPLES

AUD CAD 10 Nov

Stop loss above the 200SMA

50 EMA below 200MA

SL: Buy S top 0.9728

1 R = 8 pips

Resistance tested 3x Entry: Sell l imit 0.9720

1.5 R = 12 pips

TP: Buy Limit 0.9708

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CHF JPY 26 Oct

50 EMA below 200MA

Buy Stop 11445

Resistance tested 3x 1 R = 8 pips

Sell limit 11437

1.5 R = 12 pips

Support tested 3x Buy Stop 11425

8. THE MOMENTUM BREAKOUT STRATEGY

-A strategy that seeks to long the strongest FX pair as it Breakouts
from Resistance Levels and shorting the Weakest FX pair as it
Breakdowns from Support Levels.
-Optimum at M15 and H1 timeframes.

Identify the pair to trade.

 Use the “myfxhelper” to identify the strongest currency and the

weakest currency over the Higher Timeframe.
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 (If you are trading on the H1 timeframe, look at the H4 Timeframe on
the Currency Strength Meter).
 (If you are trading on the M15 timeframe, look at the H1 Timeframe
on the Currency Strength Meter).
 Generally Currencies 60+ and above are strong and currencies 40 and
below are weak.
 Buy the strongest currencies and sell the weakest currencies
 E.g. USD Strong, NZD Weak. We Look to Short NZDUSD on the lower
time frame.
o E.g. EUR strong, JPY weak, We Long EURJPY on the lower time
frame.

Long setup

 Find currency pair to trade.

 Check the Currency Strength Meter on Higher Timeframe (H1/H4).
 Buy Strong (60+) and Sell Weak Currency (40-).
 Check Higher timeframe Uptrend (H1/H4: 6EMA> 18EMA>50EMA,
Price > 18EMA).
 Check Lower timeframe Uptrend (M15/H1: 6EMA> 18EMA>50EMA,
Price > 18EMA).
 M15/H1 Price Consolidating (Draw Resistance Line), Wait for Breakout
and a Swing High.
 Identify 50% Retracement Level and 161.8 Extension Using Fibonacci
Tool.
 Connect B (Swing high) and Drag to A (Resistance Level).

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Chart Setup (Long)

H1 Lower TF, H4 Higher TF

H1 H4
6EMA, 18EMA, 50EMA 6EMA, 18EMA, 50EMA
Average True Range (14 Period)

At Breakout…
6EMA > 18EMA > 50EMA
Price > 18EMA

6EMA > 18EMA > 50EMA

Price > 18EMA

ENTRY-Place a Buy Limit Order at 50% Retracement Level.

-Ensure retracement is at least 2 ATR or….
-Retracement at least 1 ATR with a support line level.
STOP LOSS-Place a Stop Loss 5-10 pips below Resistance level.
-Distance from Entry to stop loss is 1R.
-Ensure 1R is at least 2 ATR.
TARGET PRICE-At 161.8 Fibonacci extension level.
-Ensure at least 1.3R to 1.5R profit.

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( Long Setup Bracket order )

Fibonacci Level 161.8 Take Profit:

Sell Limit

B: Swing High 1.3 R or More

Retrace at
Least 1-2 ATR
50 %
Retracement Entry: Buy Limit

1 R => 2ATR
Resistance A = Resistance
Support 5-10 Pips
Stop Loss

6 EMA
18 EMA
50 EMA

VARIOUS LONG BREAKOUT PATTERNS

B
Various Breakout Patterns

C =50%
Resistance
B

C =50%
Resistance
A

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23rd APRIL-LONG MOMENTUM BREAKOUT HI -CADCHF

On H4: CAD Strong and CHF Weak

23 April CADCHF H1 Long Momentum Breakout

Take Profit 0.7627 161.8

H1
22 pips
B
= 1.46R

Buy Limit 0.7605 0.50

1R = 15 pips
Resistance 0.7595 (> 2 ATR) A

Stop Loss 0.7590

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10th April AUDCHF H1 Long Momentum Breakout

H4
On H4: AUD Strong and CHF Weak

10 April AUDCHF H1 Long Momentum Breakout

161.8
H1 Take Profit 0.7175

32 pips
B
= 1.6R

Buy Limit 0.7143 0.50

1R = 20 pips
Resistance 0.7128 (> 2 ATR) A
Stop Loss 0.7123

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SHORT SETUP

 Find currency pair to trade.

 Check the Currency Strength Meter on Higher Timeframe (H1/H4).
 Buy Strong (60+) and Sell Weak Currency (40-).
 Check Higher timeframe Downtrend (H1/H4: 6EMA< 18EMA< 50EMA,
Price < 18EMA).
 Check Lower timeframe Downtrend (M15/H1: 6EMA < 18EMA
<50EMA, Price < 18EMA).
 M15/H1 Price Consolidating (Draw Support Line), Wait for Breakout
and a Swing Low.
 Identify 50% Retracement Level and 161.8 Extension Using Fibonacci
Tool.
 Connect B (Swing Low) and Drag to A (Support Level).

CHART SETUP (SHORT)

H1 Lower TF, H4 Higher TF

H1 H4
6EMA, 18EMA, 50EMA 6EMA, 18EMA, 50EMA
Average True Range (14 Period)

At Breakout…
6EMA < 18EMA < 50EMA
Price < 18EMA
6EMA < 18EMA < 50EMA
Price < 18EMA

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ENTRY-Place a Sell Limit Order at 50% Retracement Level.
-Ensure retracement is at least 2 ATR or….
Retracement at least 1 ATR with a support/resistance level.
STOP LOSS-Place a Stop Loss 5-10 pips above Support level.
-Distance from Entry to stop loss is 1R.
-Ensure 1R is at least 2 ATR.
TARGET PRICE-Place a Take Profit Order at 161.8 Fibonacci extension Level
-Ensure at least 1.3R profit.

( Short Setup bracket order )

50 EMA

18 EMA

6 EMA

Stop Loss
Resistance A = Resistance 5-10 Pips

Support 1 R => 2ATR

50 %
Retracement Entry: Sell Limit

Retrace at
Least 1-2 ATR

B: Swing low
1.3 R or More

Take Profit:
Fibonacci Level 161.8 Buy Limit

VARIOUS SHORT BREAKOUT PATTERNS

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A
Support
C =50%

A
Support

C =50%

/23rd APRIL CHFJPY H1 SHORT MOMENTUM BREAKOUT

H4 On H4: JPY Strong an CHF Weak

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23rd April CHFJPY H1 Short Momentum Breakout

H1

Stop Loss 110.22 A

Support 110.17 1R = 19 pips
0.50
(> 2 ATR) Sell Limit 110.03

33 pips
B
= 1.7R
Take Profit 109.70 161.8

3rd May EURUSD M15 Short Momentum Breakout

H1

On H1: EUR weak and USD Strong

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3rd MAY EURUSD M15 SHORT MOMENTUM BREAK

M15

Stop Loss 1.1175

5 pips

Support 1.1171 A
1R = 11 pips
(> 2 ATR)
0.50
Sell Limit 1.1164

14 pips B
= 1.3R

161.8
Take Profit 1.1150

FOREX PATTERNS
-In forex history repeats itself.
-First you draw the highs and lows in the daily timeframe.
-Outline the resistance and support trend lines.
-Here we use the Price action strategy and candlestick patterns.
-NB; High=Target, Shows entry points after breakout of trigger candle, TP-Target
price

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1. Flag
 Bullish flag

Flag
Post TP

High Target

TP

 Bearish flag

TP

High
Target
TP
Post
Flag

TP

2. Channels
 Rising channel Target

TP

High
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 Falling channel

High

TP

Target

TP TP

 Ascending channel (bullish)

Target
Target

TP

High

 Descending channel (bearish)

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High

TP

Target

3. Head and Shoulder TP

 Bullish (inverted head and shoulder)
TP

High
Neckline Target
TP

Right shoulder
Left shoulder

Head

 Bearish (head and shoulder)

Head

Left shoulder Right shoulder

Neckline
TP
High Target

TP

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4. TRIANGLE
 Ascending triangle (bullish)
TP

Target

High

 Descending triangle (bearish)

High

High

Target

TP

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 Reducing triangle
 Bullish TP

Target

High

 bearish

High

Target

TP

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 Expanding triangle
 Bullish TP

Target

High

 Bearish

High

Target

TP

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5. Wedge
 Rising wedge TP
 Bullish

v
TP Target

High

 Bearish

TP
Target
v
High

TP

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 Falling wedge
 Bullish

TP

Target
High

TP

 Bearish

High

TP

Target

TP

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6. Double top

High
Target

TP

7. Double bottom

TP

Target

High

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8. Triple top

High TP
Target

TP

9. Triple bottom

TP

Target

High
TP

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