Engulfing candles on USD pairs often retrace 30-60%. Rather than taking the fomo stop entry, go for a 50% retracement limit entry which will have a much higher RRR.
VP at No Nonsense Forex also trades the USDCAD on the weekly, but he is still using his trend indicators, so he must be trading the non-ranges - if we could combine both it would be awesome
Biggest takeaway is when you said that there is veeeery few people , if any, that is trading this time frame. And this brings fairly good opportunities if you have the patience.... or maybe you don't need to have patience, maybe you keep doing your daily trades and on top of that, allocate some money to these types of trades, like you said. I noticed that you didn't look at the fundamental news. Not looking at them is part of the strategy? or didn't you look at them to make the video short? I would definitely love to see more of these types of higher time frame strategies .... do you have one for the 4H chart? Great stuff Etienne, thank you very much. Cheers!
Yes, I agree with you! Personally, I don't look at fundamentals to make any trading decision outside of day trading. I think any news is already priced in the market and the moves aren't big enough to reverse a weekly chart for sure. I'll try to do more of those videos... here's one for the 4hr chart: ua-cam.com/video/z5pDYwv7bKY/v-deo.html
Hi @@DesireToTRADE thank you for your response. Understood... now, if my trading time frame is the 4H? is this big enough to consider the fundamentals priced in as well? Thank you for all your advice and the link to the 4H chart video! : )
I worked at a very profitable prop house in NYC and they trade nothing less than daily and mostly take signals off the monthly charts. Avoid the noise and lure of trying to make a quick buck in short timeframes. Algos will eat you alive.
Hey I am in forex from last year i learn alot from ur videos but still i have no proper strategy. Can u help me which of ur course should i buy to become a consistant profitable?
I have a course to create your own profitable strategy. I think that'd be the best if you're already been learning about indicators, price action, etc. Details are here: www.desiretotrade.com/creating-your-own-profitable-strategy/
@@DesireToTRADE my biggest hurdles atm are - finding a mentor - finding a group to hang out with - finding a trading buddy - or even finding a job, so i can learn like a pro
@@DesireToTRADE Hi dude, what does it mean when past candles change size? I was watching my exchange platform and noticed two past candles grew in the body. Only by a little bit, but i would think that once the candle is closed - the body shouldnt change size? thanks
Thank you Etienne for another great content. One question , What percentage of the account do you risk with this weekly strategy considering 3 to 12 weeks to get your win? Thank you.
You’d calculate your risk of ruin to know that. It also depends how much drawdown you’re willing to go through. Personally I keep it at 2% per trade because It’s a complement to my regular swing trading.
Engulfing candles on USD pairs often retrace 30-60%. Rather than taking the fomo stop entry, go for a 50% retracement limit entry which will have a much higher RRR.
And how would you set Stop-losses for that? 30% or 60%.
But in this video why he is not doing that? even with pinbar candle we can wait for 50% retracement and then enter in the market to get higher RR.
VP at No Nonsense Forex also trades the USDCAD on the weekly, but he is still using his trend indicators, so he must be trading the non-ranges - if we could combine both it would be awesome
Biggest takeaway is when you said that there is veeeery few people , if any, that is trading this time frame. And this brings fairly good opportunities if you have the patience.... or maybe you don't need to have patience, maybe you keep doing your daily trades and on top of that, allocate some money to these types of trades, like you said.
I noticed that you didn't look at the fundamental news. Not looking at them is part of the strategy? or didn't you look at them to make the video short?
I would definitely love to see more of these types of higher time frame strategies .... do you have one for the 4H chart?
Great stuff Etienne, thank you very much.
Cheers!
Yes, I agree with you! Personally, I don't look at fundamentals to make any trading decision outside of day trading. I think any news is already priced in the market and the moves aren't big enough to reverse a weekly chart for sure.
I'll try to do more of those videos... here's one for the 4hr chart: ua-cam.com/video/z5pDYwv7bKY/v-deo.html
Hi @@DesireToTRADE thank you for your response.
Understood... now, if my trading time frame is the 4H? is this big enough to consider the fundamentals priced in as well?
Thank you for all your advice and the link to the 4H chart video! : )
I worked at a very profitable prop house in NYC and they trade nothing less than daily and mostly take signals off the monthly charts. Avoid the noise and lure of trying to make a quick buck in short timeframes. Algos will eat you alive.
Thanks for sharing that perspective!
More videos like this weekly live trade breakdown
Thank You Etienne.
So many learnings and videos to watch . . .
Hey
I am in forex from last year i learn alot from ur videos but still i have no proper strategy. Can u help me which of ur course should i buy to become a consistant profitable?
I have a course to create your own profitable strategy. I think that'd be the best if you're already been learning about indicators, price action, etc. Details are here: www.desiretotrade.com/creating-your-own-profitable-strategy/
Hi there, what pairs/stocks/indexes do you recommend trading this way (that are often in ranges)?
Great content. Thank you for this
i like it - nice strategy - i modified and back tested it - looks good dude thanks
Always my pleasure! Anything I can teach you more about on UA-cam?
@@DesireToTRADE my biggest hurdles atm are - finding a mentor - finding a group to hang out with - finding a trading buddy - or even finding a job, so i can learn like a pro
@@DesireToTRADE Hi dude, what does it mean when past candles change size? I was watching my exchange platform and noticed two past candles grew in the body. Only by a little bit, but i would think that once the candle is closed - the body shouldnt change size? thanks
With trades running so long don't your profits get eaten up by swap charges?
Win-Win scenario. You earn, broker earn.
How much of capital is risked on weekly timeframe?
Thanks E good info
Thank you Etienne for another great content. One question , What percentage of the account do you risk with this weekly strategy considering 3 to 12 weeks to get your win? Thank you.
You’d calculate your risk of ruin to know that. It also depends how much drawdown you’re willing to go through. Personally I keep it at 2% per trade because It’s a complement to my regular swing trading.