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Earth & Sky Trading System

By Pierre Du Plessis

www.ForexMentorPro.com 1

http://cb1279.lmtmentor.hop.clickbank.net/?tid=EAS

Risk Disclosure Statement

The contents of this e-Book are for informational purposes only. No part of this publication is a solicitation or an offer to buy or sell any financial market. Examples are provided for illustration purposes only and should not be construed as investment advice or strategy. All trade examples are hypothetical. No representation is made that any account or trader will or is likely to achieve profits or loses similar to those discussed in this e-Book. By downloading this e-Book, and/or subscribing to our mailing list you will be deemed to have accepted these and all other terms found on our web page ForexMentorPro.com in full. The information found in this e-Book is not intended for distribution to, or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to the law or regulation or which would subject us to any registration requirement within such jurisdiction or country.

CFTC RULE 4.41

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, IMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Copyright © Forex Mentor Pro 2011. All rights reserved. Updated March 2017

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You may not, except with our express written permission, distribute or commercially exploit the content. Nor may you transmit it or store it in any other website or other form of electronic retrieval system.



Brought to You by ForexMentorPro.com

Pierre du Plessis, the author of this eBook, is just of one of the successful traders who has learned to trade with us at Forex Mentor Pro. Initially starting as a student member he went on to trade full time and later started to mentor others.

We are confident that you will find our service to be the best value Forex training on the market today, and we are committed to helping you make it as a professional trader.

We look forward to working with you!

Forex Mentor Pro Team

+++++++++++++++++++++++++++

This e-book is to be used in conjunction with the templates and information that can be found to download in the member’s area/education section.

Please be advised it takes time and effort to learn all the nuances of any system. Pierre shows in advance what he is intending to trade and why using his strategy. He is also available in the forum every trading day to answer questions and offer tips and advice.

Please do not think that by reading the book you are in a position to start trading real money tomorrow.




Earth & Sky Trading System

Introduction – About Me:

Name: Pierre du Plessis

Country: South Africa

Age: 45 years

Occupation: Professional Full time Currency Trader & Mentor.

Bio – I live in the Garden Route, South Africa and have three children. I am also known as `daddy.day care` to my friends. I trade from home hence very involved with the day to day family needs. School lifts, hockey, rugby, karate – you name it, `daddy.day care` will be there.

I`ve been a currency trader for the last 10 years. A lot of my success came about when I joined the Forex Mentor Pro Program and I changed to trading 4 hour and daily charts. I have spent years trading 15 minute charts with some success, but this change of direction has taken me to a different level. Once you have mastered trading from bigger time frames – you will never look back.




My trading method is a combination of Marc`s M2 system and a few twists of my own mainly using weekly and monthly pivots, specific fib levels that gives me an Earth and Sky trading zone and specific EMA`s that gives me the direction.

With this system you will trade with the main trend and that will test your patience. Why? Because you will have to wait for price to come to your trading zone before you can take any trades.

What does the word patience mean?

Patience emphasizes calmness, self-control, and the willingness or ability to tolerate delay.

I personally like the part where it says – ability to tolerate delay. That’s the secret of trading – to tolerate delay and wait for the market to come to you.

So in short, there will be times where you need to wait for price to come to you, the best way to do that without getting impatient or trigger happy is to get a hobby. Get something that will distract you from trading until the price gets to the preferred trading zone.

What does the word discipline mean?

DISCIPLINE (noun) The noun DISCIPLINE has 5 senses:

1. a branch of knowledge 2. a system of rules of conduct or method of practice 3. the trait of being well behaved 4. training to improve strength or self-control 5. the act of punishing

Familiarity information: DISCIPLINE used as a noun is common.



http://www.audioenglish.net/dictionary/discipline.htm%23noun

DISCIPLINE (verb) The verb DISCIPLINE has 2 senses:

1. train by instruction and practice; especially to teach self-control 2. punish in order to gain control or enforce obedience

Why did you need to know the definition of these two words before we start? A system is useless if you don’t have patience and discipline. I can give you the best systems in the world that makes other people plenty of money, but if you as an individual don’t have the discipline or the patience to trade a system, I will guarantee you, as a trader you will not be successful. These two factors will be the key to your success as a trader. You must remember that some point you’re going to have to figure out how it is that you want to trade. This requires deciding on an approach that is suitable for YOU, and committing to it.

Very few people actually do this, on the other hand those that do, generally get very well rewarded for it.

This system will guide you into the right direction.



http://www.audioenglish.net/dictionary/discipline.htm%23verb

An Overview of Currency Trading: All of us occasionally need our minds jogging so it is hoped this will help.

Forex – What is it?

The Foreign Exchange market is the full name but it is known by many other titles, a selection of which are “FOREX” or “Forex”. Additionally terms such as “Retail Forex:”, “FX”, or “Spot FX” or indeed “Spot” all describe what is, at present, the world’s largest financial market. This market trades at in excess of $4 trillion daily. The daily amount traded on the New York Stock Market is circa $25 billion daily, thus one can observe that the multiple is 160 greater on the Forex market. This leads us to ask the following question.

“What is the Foreign Exchange Market constituted of?”

Put simply the answer is money, but this must not be seen as necessarily hard cash. The trades are almost predominantly electronic and as such represent the buying of one currency and the sale of another – effectively “back to back transactions”.

Trade is conventionally undertaken via a broker or dealer. There is an established pattern of pairs such as EUROUSD or USDGBP, but one should be aware that with the introduction of currencies such as the rouble new patterns are rapidly being established.

As previously stated trade is not always, indeed is predominantly not, physical thus as one needs to put one’s mind around that concept. If one can think in the somewhat abstract terms of acquiring a share in say the Japanese economy, and substitute that for the tangible currency, and then link that to the inflationary or recessionary trends in the economy, the picture is drawn.



It is fair to say that the exchange rate of a currency bears strong relationship to the state of an economy. However, in the case of a currency linked to many countries such as the Euro, it is the combined effect of a number of countries’ economies which will affect the exchange rate of that currency.

Spot Rate:

This has neither a physical or central location. It is as previously stated largely electronic thus it is akin to an Over-the-Counter (OTC) or “Interbank” market, as it is run within a network of banks on a continuous basis for 24 hours 5 days of the week i.e. Monday to Friday.

Retail Traders:

Until about 20 years ago Forex was the sole domain of major players in the field of banking. Substantial limited capital in the region of between $10 - $50 million was required, which precluded any involvement by the individual. The growth of the Internet has revolutionised that position, and now trading accounts are available to what one may term as “Retail Traders”.

All one needs to become one of these traders is a computer, good broadband, solid information on the basics of trading Forex and time. In the initial stages of trading, investment is best undertaken in relatively small amounts, accompanied by plenty of time to think through your strategies. To formulate these one need to understand the two types of trading.

Types of Trading:

There exist two types of analysis which should be explained: Technical and Fundamental.

Technical Analysis involves the dissection and breakdown of price movements through the medium of charts. This allows for the



identification of trends, allowing for an understanding of profitable trading opportunities.

Fundamental analysis focuses on market analysis through the strength or weaknesses of its economy.

A combination of the two types of analysis will allow for success.

Chart Types:

The types are:

1. Line charts 2. Bar charts 3. Candlestick charts

Line and bar charts will be familiar to almost all people so they need no explanation, whereas candlestick charts will be new to most investors. These have been developed and evolved to price movements of a security, derivative or currency over given periods of time.

They can best be depicted as a combination of line and bar charts, but are frequently used to obtain technical analysis of pricing patterns. Candlesticks are seen as more informative than bar charts. They display absolute prices and relationships to prior period prices. To assist in delineating the figures, quite frequently, candlesticks are coloured.



Candlesticks (AKA Candlestick Charts) Candlesticks are formed by using the high, open, close and low prices.

The lines (wicks) which protrude above or below the body of the candle indicate the high and low pricing bands. These are called shadows.

The top of the upper shadow is the high, whilst conversely the bottom of the lower shadow is the low.

The longer the wick the stronger the buying or selling in the period in question. The shorter the wick the indication is less buying and selling has transpired. In the traditional parlance of the financial world we have both “bull and bear” markets.

Basic Candlestick Patterns

N.B.: The following candlestick examples are black and white for demonstration only. On the charts black equals down (bear) and white equals up (bull).



Spinning Tops:

Candlesticks with a long upper and lower shadow and small red bodies have the name “Spinning Tops”. The body colour is not relevant. The pattern indicates the indecision between buyers and sellers.

The body (hollow or filled) reflects minimal movement between open and close, whilst the shadows are indicative that neither buyer nor seller could gain the upper hand.

Although the session opened and closed with minimal movement, because there was no upper hand gained, there was an effective stalemate.

When a spinning top develops in an uptrend, it will indicate there are few buyers and a reversal of direction could be pending.

Should a spinning top form during a downtrend, this signifies few sellers are left and a potential reversal in direction could occur.

Marubozu:

Marubozu states that there are no shadows from the bodies. Depending on whether the candlestick’s body is filled or hollow, the high and low are the same as it’s open or close. The pictures portray the two types.

A Green Marubozu (a Japanese candlestick indicating strongly traded stock in one direction during a session and closing at a high or low



daily price) normally contains a long green body with no shadows. Open price equals the low price and the close price equals the high price. One may refer to this as a bullish candle as it indicates that buyers controlled the whole session.

A Red Marubozu contains a long red body with no shadows. Open price equals the high and close the low. As opposed to the green candle this is bearish and controlled by sellers.

Doji:

A Doji candlestick represents the equilibrium between supply and demand. These candlesticks have virtually the same open and close price. The Doji thus has a very small body that appears as a thin line.

Doji is an indication of indecision or a fight to get turf positioning between buyers and sellers. Prices oscillate around the open price during the session, but close near to the open price. Neither buyer nor seller has obtained a majority decision.

There are four special types of Doji lines.



Long Legged Doji:

Designated by long upper and lower shadows, almost synonymous in length, but traders should be vigilant in observing the close in relation to the midpoint. A close below the midpoint is a show of weakness.

Dragonfly Doji:

Forms when open, high, close and low create a long lower shadow. The indications from these events are that sellers are forcing prices down during the session, but buyers are forcing prices back to the opening level or better.

Gravestone Doji:

It has a long upper shadow with no lower shadow, and is formed when the open, low and close are equal. The high creates the long upper shadow. The Gravestone Doji indicates buyers driving up prices during the session, and sellers bringing down the prices below the opening level.

Four Price Doji:

Open, low, high and close are all equal. This is the clearest example of indecision between bulls and bears.

When a doji forms on your chart, pay special attention to the preceding candlesticks.

If a Doji is created after a series of candlesticks with long hollow bodies, the signs point towards the buyers becoming weaker. To maintain a rising position more buyers are required but they are conspicuous by their absence. Sellers are in the wings to drive down the prices.



Keep in mind that a Doji does not mean a short is always existent. Look for further clarification. Wait for a bearish candlestick to close below the long green candlestick’s open.

Should a Doji form after a series of candlesticks with long filled bodies, (akin to red Marubozu), the Doji is indicating sellers are falling away. They need more sellers to strengthen their position. Buyers are loitering to force the prices back up.

While the decline is faltering as new sellers are in a dearth, further buying strength is required to cement any reversal. Keep a look out for a green candlestick to close above the long red candlesticks’ open.



Reversal Patterns:

Prior Trend:

For a pattern to qualify as a reversal pattern there should be a prior trend to reverse. Bullish reversals are marked by a preceding downward trend as opposed to the prior uptrend depicting a bearish reversal.

The trend is traceable via technical analysis.

The trend line determined the trend direction before the reversal.



Hammer and a Hanging Man:

The visual appearance of both charts is the same but both have a different meaning depending on a past price action. Both have little bodies, (green or red), long lower shadows and short or indeed absent upper shadows.

The hammer forms during a downward trend and indicates a bullish reversal pattern. The name has been applied to this trend as the “market is hammering out a bottom”. Hammers signal that the bottom is imminent and prices will recover. This trend occurs when price is falling. The long lower shadow indicates that sellers pushed prices lower, and that despite selling pressure buyers could sustain the market to allow price to close near the open.

One does however need to retain a sense of caution when seeing a hammer form in a downward trend. It may be a trigger to buy but caveat emptor is always a good policy. A more bullish indicator would assist in reducing your risk,



Recognition Criteria:

The long shadow is about two or three times the length of the real body.

Little or no upper shadow. The real body is at the upper end of the trading range. The colour of the real body is no importance.

These are similar to the above, save that the body colour is unimportant, though a red body is more bearish than a green body.

The hanging man which marks a strong resistance level represents a bearish reversal pattern. As prices rise, the formation of a hanging man predicts sellers are in preponderance over buyers. The long lower shadow elicits that prices were pushed lower by the seller. Buyers did force prices up but only to a position near the open. The indication is no buyers are available to raise the price.



Inverted Hammer and Shooting Star:

The inverted hammer and shooting star look identical. The singular difference is whether the trend is upward or downward. Both candlesticks have minute bodies, (filled and hollow) long upper shadows and small or absent lowers shadows.

The Inverted Hammer indicates the possibility of a reversal as

the price has been on the fall. Its long upper shadow shows the buyers tried to bid the price higher. Nonetheless, sellers reacted to the buyers’ actions and attempted to reverse their actions, but the buyers maintained their position by closing near the open. This allows us to presume that the sellers’ position was weak so the buyers assume their position.

The shooting star is identical to the inverted hammer in that it is a bearish reversal pattern, but occurs when the price has been rising. Its shape shows that the price opened at its low, recovered, but fell back to its base. In this situation the sellers



have overpowered the buyers. This is a bearish indicator due to the absence of buyers.

Summary of Candlesticks:

Candlesticks use all four positions, open, high, low and close.

Strong buying or selling is indicated by long bodies. The longer the body, the more intense the buying or selling pressure.

Conversely short bodies are indicative of little buying or selling.

Upper shadows signify the session high.

Lower shadows signify the session low.

Candlesticks with a long upper shadow, long lower shadow and small real bodies are called spinning tops. The pattern allows one to see the indecision between sellers and buyers.

Marubozu means there are no shadows from the bodies. Dependant on whether the candlestick’s body is filled or hollow, the high and low are the same as it’s open or close.

Doji candlesticks have the same open and close price or at least their bodies are extremely short.

The hammer takes on a bullish reversal which emanates from a downward trend. You will recall the hammer is so named because it is hammering out a bottom.

The hanging man is a bearish reversal pattern indicative of a top or strong resistance level.

When price is falling, the possibility of a reversal is indicated and an inverted hammer occurs.



The shooting star is a bearish reversal pattern that reflects the internal hammer, but occurs when a rising price is present.

This is important information.

Make a chart of all these basic candle patterns and reversal candlestick patterns, laminate it and stick it on your desk or wall. It will come in very handy to identify reversal patterns once price gets into your trading zone.

Reversal candle patterns forming once we hit key support/ resistance levels.



Ok – after that mouthful let’s move on to some other fun stuff, the indicators we will use with this system.

Earth and Sky Indicators and Support/Resistance we will be using:

The following are Indicators we will use for the Earth and Sky System and are included in the downloadable template:

• Time to next bar indicator - It will show you how much time is left before the current candle closes.

• My signal Bar - It will show you the direction of the 4 hour and daily 200 and 34/55EMA`S and will show you the difference between last week's opening and closing price.

• Grid indicator - It will show the psychological levels (whole numbers) on the charts for a 4 and 5 digit broker.

• Bollinger Bands - Set to only show on the 4 hour and higher time frames.

• The 200 EMA (Pink colour - set only to show on the 4 hour and higher time frames)

• The 55 EMA (Brown colour - Earth - set only to show on the 4 hour and higher time frames)

• The 34 EMA (Blue colour - Sky - set only to show on the 4 hour chart and higher time frames)

• The H4 and D1 indicator - Set to show on 4 hour and daily charts - It will show you the levels for the 4 hour and the Daily 200 and 55 EMA`s on the charts so that it is easier to spot these levels and to help find support/resistance.

• The MN and W1 indicator - Set to show on the daily and higher time frames - It will show you the levels for the Daily and Weekly 200 and 55 EMA`s on the charts so that it is easier to spot these levels and to help find support/resistance.



• Monthly pivot points - Set to only show on the Daily chart. It will show us support/resistance areas.

• Weekly pivot points - Set to only show on the 4 hour chart. It will show us support/resistance areas.

• Ribbon Indicator - Set to only show on the 30 min chart. It will be used for confirmation.

• Cross over Alert - Set to only show on the 30 min chart. It will be used for confirmation.

• MACD Trigger Indicator - With a setting of 5,13,1 - It will be used to spot MACD divergence/convergence.

• Colour Stochastic - With a setting of 13,8,5 and 89/13 as overbought/over-sold - It will be used to spot when a pair is overbought/oversold.

• RS All indicator - (Spaghetti ) : Only set it up so that it shows on 1 chart otherwise it uses too much power and will slow your platform down. This indicator will show us which pairs are strong moving/weak moving and overbought/oversold and will help us to pick the pairs we want to trade during the week.

• REMEMBER: Once you deleted it from a chart save it as a new template! Don't worry too much about the in's and out`s regarding how to upload all these indicators to your charts or how they work - we have a template that you can download at Forex Mentor Pro in the education part with loads of educational video clips to show you how to use them trading the Earth and Sky System.




Support and Resistance: Support and resistance is one of the most widely used concepts in trading.

When there is an upward movement, and then a reversal in the market, the highest point before it is pulled back is known as resistance.

When the market regains its upward trend, the lowest point reached before it started to recover is known as support.

Indicators:

Two kinds of indicators occur: leading and lagging. Before a new trend or reversal occurs a leading indicator will

appear. A lagging indicator lags behind the trend. Technical indicators have two categories: Oscillators and trend

following or momentum indicators. Oscillators can be Stochastic, RSI, and Parabolic SAR. Momentum indicators can be MACD, Moving Averages. From the type of market you are trading in you can establish

the appropriate direction.



Earth and Sky Chart Indicators:

As you accumulate knowledge you are effectively building you own tool box. Some of the tools you might have already are:

MACD:

A good indicator of spotting early trend movements. It is made up of two diametrically opposed moving averages

and vertical lines as in a histogram, a chart which measures the distance between two moving averages.

Moving average lines are those of other moving averages. The problem is that as it uses many moving averages it is a

lagging indicator. One possible approach to a MACD is to wait for the fast line to

either “crossover” or “cross under” the slow line and enter the trade accordingly, as it indicates a fresh trend.

Settings for my MACD trigger indicator - Fast EMA is 5, Slow EMA is 13 and signal SMA is 1.

With this setting we will also be able to identify MACD divergence/convergence fast that will help us to identify possible trades that might be setting up.



Stochastic:

Indicates overtraded conditions. The time to sell because the market is overbought when the

moving average lines are above 89. The time to buy is when the market is oversold and the average

lines are below 13. We will use the above settings with the my colour stochastic.

The following indicators are positioned on the chart.

Moving Average:

A moving average can be used to level out price action. There are numerous types of moving averages. The 2 most

common types are: Simple Moving Average and Exponential Moving Average.

Simple moving averages give the most advantageous form of moving averages, but the spiking effect rather negates their benefits.

Exponential moving averages strengthen the weight to recent prices and thus give a better picture of trading activity.

The current activities take precedence over past or future predicted market activities.

Irregular moving averages respond quicker to price action and react to trends better. The drawback is that the spiking effect again kicks in and that can remove you from the market.



Smooth moving averages have a time lag to price action, but benefit from the deletion of spikes and fake outs. Nonetheless, due to their slow reaction, one can miss out on trade opportunities. They are rather a belt and braces approach to trading.

Simple moving averages are smoother than Exponential moving averages.

Longer period moving averages are smoother than shorter period moving averages.

We will use the 200, 55 and 34 Exponential Moving Averages.



Bollinger Bands:

A measure of the market’s volatility. Seen as acting in a similar fashion to mini support and

resistance levels. The top Bollinger band will be a moving resistance area and the

bottom Bollinger band will be a moving support area.



Weekly and Monthly Pivot Points:

Pivot points fall into the realm of professional traders and market makers, and are used to establish entry and exit points based on current day’s trading in opposition to that of the prior day. Trends need to be fully understood before using this method, and probably this is an area for professionals and not retail traders.

Pivots are seen as useful in Forex, as many currency pairs have a tendency to fluctuate between these levels.

Range-bound traders enter the market near specific support levels, whilst when the pairs show resistance they will issue a sell order.

Breakout Traders use pivot points to locate key levels that need to be disturbed for a move to be considered as bona fide.

As pivotal points are non-complex in the main, place them in your toolbox. They give visibility of the causal effects of price movement. Effectively you can synchronise your thinking with market changes.

Support pivot points/Resistance pivot points with other technical analysis tools such as candlestick patterns, MACD crossover and MACD divergence/convergence, Moving Averages Crossovers, Stochastic overbought/oversold levels and trend line break at pivot point areas can give super results.



Example: Weekly pivot points on a 4 hour chart:

Example: Monthly pivot points on a Daily chart:



Some other indicators we will be using that you might not have:

• Time to next bar indicator - It will show you how much time is left before the current candle closes.

• My signal Bar - It will show you the direction of the 4 hour and daily 200 and 34/55EMA`S and will show you the difference between last week's opening and closing price.

• Grid indicator - It will show the psychological levels (whole numbers) on the charts for a 4 and 5 digit broker.

• Ribbon Indicator - Set to only show on the 30 min chart. It will be used for confirmation.

• Cross over Alert - Set to only show on the 30 min chart. It will be used for confirmation.

• RS All indicator - (Spaghetti) : Only set it up so that it shows on 1 chart otherwise it uses too much power and will slow your platform down. This indicator will show us which pairs are strong moving/weak moving and overbought/oversold and will help us to pick the pairs we want to trade during the week.



Some other indicators we will be using that you might not have:



Example: A complete chart with all our indicators we will be using trading the Earth and Sky.

This is how your 4 hour and Daily chart will look like – don’t worry it is not as complicated as it looks. (We have a template in the education part at Forex Mentor Pro to download)



Something to remember:

Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch its prey. It may hide in the bush for a week, waiting for just the right moment. It will wait for a baby antelope, and not just any baby antelope, but preferably one that is also sick or lame. Only then, when there is no chance it can lose its prey, does it attack. That, to me, is the epitome of professional trading.

Always remember that in all trading there is risk, so the greater the analysis and supporting patterns you employ to support the decision

you take, the chances of a successful trade are increased.

This was a succinct approach to Forex, but by no means a comprehensive outline. It has been drawn up to keep you from the initial pitfalls of trading. One should never forget that through trading you will build up a bank of knowledge which will be based on the solid foundations gained from the preceding definitions and tips.

So now we are ready to move on. It is good to review some chart examples and indicators we will be using trading the Earth and Sky System.



Earth & Sky Trading System Overview: 1) Market Traded: Currencies, Gold, Silver and Oil. 2) Sessions: The system is suitable for any session. 3) Pairs: I place my currency pairs into 4 groups - any one of the

pairs can be traded in this group. 4) Charts: Daily and 4 hour charts with a 30/60 min. chart entry

when price gets to a preferred trading zone.

5) Free Charting Software (I use a Demo Account at `One Financial Markets` for analysis I do for Forex Mentor Pro): Use this broker so that your charts look the same as mine (many brokers have different offset times that means your charts will not look the same as mine. Indicators (EMA`S & pivots especially will be in a different position) One Financial Markets FCA regulated broker in the UK Download a free demo account here: CLICK HERE USA members are unable to open any type of account with almost all European brokers. Legally we are not allowed to recommend any broker to USA clients but as you are only looking for a free demo account then check out www.forex.com Account type: Mini account – The maximum amount of money you can have in this type of account with some brokers are $50 000. Why a mini account? One lot size equals one dollar. This makes my life easier to choose the preferred lot size to trade when I place an order and in general make thing uncomplicated.



http://www.onefinancialmarkets.com/?cb=1&utm_source=ForexMentorPro.com&link_id=CCW2&referral_id=0010492

http://www.forex.com/

6) Indicators I use: As set out on page 21 and 22 of this e - book and my vertical lines that will help you to draw the Fib lines on a Daily or 4 hour chart you need for the upcoming trading week or month. (If you right click on your chart, go to properties, in properties go to `COMMON` then click on the `Show period separator`)

7) This system will help you with four things most traders struggle with: The preferred trend, areas to look for entries, areas to look for stops, areas to look for profit take.

8) I have also adapted it in recent years to be able to trade counter trend which is known as “swing trading.” As it is against the main trend I halve my risk, but it has been very successful and it means even when markets are not trending the Earth & Sky system still works. All systems go through periods when the market pattern does not suit the system. This way I always have opportunities. We will be looking at a couple of examples regarding counter trades later on in this e - book.



A Stress Free Trading Plan and System:

In order to become a profitable currency trader, you will need a decent trading plan. A trading plan will be your rule book and currency bible. Without it you won’t succeed as a trader. Read it every day and stick to it.

You can have all the trading tools in the world, but if you don’t have a plan on how you will use them, you will never be successful.

Remember, you are starting a business, and if you want your business to succeed, you need to have a PLAN!

What currencies will you trade?

Group 1: The Euro/USD, Euro/GBP, Euro/JPY (all positive correlated) and the USD/CHF that is negative correlated with the Euro/USD pair. (Move in opposite direction) moves on average 65 pips per day* this is revised amount for 2016/2017. For many years the average range was over a 100 pips per day. Same for the rest:

Group 2: The GBP/USD and the GBP/JPY pair (positive correlated) moves on average 85 pips per day.

Group 3: The AUD/USD and the AUD/JPY (positive correlated) moves on average 55 pips per day.

Group 4: The USD/JPY and USD/CAD and Dollar Index (positive correlated) moves on average 55 pips per day.

The pips you see next to each group are the daily average for the specific group. This is handy for manual profit take.

* Since writing this e book back in 2011 I have added a lot more pairs to my system all of which is covered in detail in the Forex Mentor Pro members area training courses and daily blog posts.





Let’s see what correlation means:

Correlation: Correlation is a statistical measurement of the relationship between two variables. Possible correlations range from +1 to –1.

A zero correlation indicates that there is no relationship between the variables.

A correlation of –1 indicates a perfect negative correlation, meaning that as one variable goes up, the other goes down.

A correlation of +1 indicates a perfect positive correlation, meaning that both variables move in the same direction together.

I look at 11 pairs for Forex Mentor Pro every week...........But now you have to be careful. Why? – Some of them are correlated meaning they go in the same direction or some of them in the opposite direction. I have 2 monitors allocated for charts – so I place the following pairs next to each other in 4 groups.

The 4 Groups are.......

Group 1: The Euro/USD, Euro/GBP, Euro/JPY (all positive correlated) and the USD/CHF that is highly negative correlated with the Euro/USD pair.

Group 2: The GBP/USD and the GBP/JPY pair (positive correlated)

Group 3: The AUD/USD and the AUD/JPY (positive correlated)

Group 4: The USD/JPY and USD/CAD and Dollar Index (positive correlated)

So now you only have 4 possible currencies to trade for the week.

Why only 4 currencies? Because of the correlation that comes into play. If you get a signal for a setup you will only take one pair at a time for that group. When these charts are next to each other you



will be able to see the better trade of the two that is forming or which one has the bigger profit take potential with the smallest stop.

Placing the pairs next to each other can also be used as confirmation if you want to take a trade. So say you might want to take an entry on the EURUSD because of a trend line break at a weekly pivot level – changes are good you will see it on the USDCHF chart as well.

It can also show you when not to trade this group. If it looks like the correlation of the group is a bit messy for the week – don’t trade that

specific group.

Example of correlation - placing two charts next to each other:

This is a 4 hour AUDUSD and an AUDJPY chart next to each other. These two pairs move in the same direction. When on trends down the other one will follow. Have a look on the charts at the blue rectangles. Notice how both currency pairs went outside the Bollinger band at the same time before both started to trend down. This is positive correlation at work.

Check out this website for up to the minute correlation:

https://www.mataf.net/en/forex/tools/correlation

ignore any time frame below 4 hours.




Trading Times: Monday to Thursday:

You will manage open trades on Fridays. You will have no new entries on Fridays. You will not trade Non-Farm Payroll News (no problem – you

don’t trade Fridays). You will not trade interest rate announcements. You will not trade any other kind of news. You will not trade USA or European bank holidays as we need

volume/momentum.

Fibonacci Levels: Your Fibonacci (Fib) Settings: 0, 50, 62.5, 75 and 100. (Your Earth and Sky trading zone will be between the 50% and the 75% fib levels) That will be the light blue area on my chart examples. Yes it's not the conventional fib. levels but for me it's all about the trading zone not the actual levels! We will look for multiple reasons in the Earth and Sky trading zone followed by confirmation before we will take a trade. The Earth and Sky zone will be the only area where you will start to look for your weekly entries if you want to trade with the main trend.



Earth and Sky Trading Zone:

This will be your Earth and Sky Trading Zone – Between the 50% and 75% Fib pull back area. Only once price gets into this zone – you will

attempt to hit the `ball` for a home run !



Examples of Earth and Sky trading zones on the 4 hour charts:



Get to love a current trend line! You would have noticed in my previous posts that I absolutely love current trend lines. Why? It gives you the confirmation you need to take a trade. You can’t just trust areas of support, resistance, pivots, Fib levels and the rest of it for an entry!! This will be the areas of interest for us where we will look for potential trade set ups. In order for us to take the trade we need confirmation – How? A current trend line break will give you that confirmation. If we wait for the trend line break, we will be able to see where to place our stops and where to look for profit take areas. Here is something that is so simple that you always must ask yourself before you place a trade. (You can’t do it with a forward order) Say you are looking to go short at a level but price gets to your 50% Fib trading zone level – ask yourself - ` Self, did price break my current bull trend line?` If the answer is no – why do you want to short here? Now price gets to the next level of interest – ask the same question – don’t just trust EMA`s pivots and the rest of the indicators. To assume things in trading is dangerous ..................assume stands for: Making an ASS OF YOU AND ME!! Remember all the indicators we use can give us an indication, a guide line if price is in an overbought or oversold area but a trend line break will give us the confirmation that the price has turned and swing the odds to our side.

THE ONLY THING YOU NEED TO TRUST IS THE QUESTION - `Did price break my current trend line ? `



What is the meaning of Confirmation? 1. a. The act of confirming. (Area where price might react like, in the trading zone at EMAs, Fibs, pivot points this type of thing.) b. Something that confirms; verification. (Price broke the trend line at these aeries) 2. a. A Christian rite admitting a baptized person to full membership in a church. (So that you can start praying that you did the right thing :) b. A ceremony in Judaism that marks the completion of a young person's religious training. (Everybody is having a party because you made it as a trader) Trend lines are probably the most common form of technical analysis used today. They are probably one of the most underutilized as well. If drawn correctly, they can be as accurate as any other method. Unfortunately, most traders don't draw them correctly or they try to make the line fit the market instead of the other way around. In their most basic form, an uptrend line is drawn along the bottom of easily identifiable support areas (valleys). In a downtrend, the trend line is drawn along the top of easily identifiable resistance areas (peaks)



How to draw a current trend line:

1) Down Trend: Connect the latest cycle high to the last cycle high, which must be higher than the first one drawing from right to left.



2) Up Trend: Connect the latest cycle low to the last cycle low, which must be lower than the first one drawing from right to left.



If you are new to trading or struggling with trend lines and technical patterns in general check out the additional e-book in the Earth & Sky section)- “Understanding the Myths of Market Trends & Patterns” Your trading chart windows you will have open on your platform: The following settings have all been done for you and are preset in the downloadable template:

Daily chart with set with......200, 55, 34 EMA, Bollinger Bands set at 20 – 0 – 2. The 34/55 EMA sets the main trading direction with monthly pivot points. Direction Indicator, Time to next bar indicator and the MACD and Stochastic and the RS All indicator.

4 Hour chart with weekly set with ......200, 55, 34 EMA, Bollinger Band set at 20 – 0 – 2. The 34/55 EMA sets the current 4 hour trading direction with weekly pivot points. Direction Indicator, Time to next bar indicator and MACD and Stochastic and the RS All indicator.

The 30 min chart with the ribbon indicator EMA`S.



Example of a 4 hour chart with an Earth and Sky short trading zone and all the other indicators we will be using when we trade the Earth and Sky System:



Example of a DAILY chart with an Earth and Sky short trading zone and all the other indicators we will be using when we trade the Earth and Sky System:



Direction:

You will try to only trade the 4hour chart when the direction of the 4 hour and the Daily 34 and 55 EMA`s are pointing in the same direction. Have a look at the 34 and 55 EMA`s on both time frames.

Don't stress about it if you don't understand yet, the Direction Indicator will help us with the direction and make it easy to spot the direction on the 4 hour and daily chart. Let`s have a look at some examples. (You can find more notes on page 87 -89 regarding direction) Direction Indicator:

Here we can see that the 34 EMA is above the 55 EMA on both time frames plus we above the 200 EMA`s on both time frames too......so the main direction is long for the Euro/Dollar pair.

Here we can see that the 34 EMA is under the 55 EMA on both time frames plus we under the 200 EMA`s on both time frames too......so the main direction is short for the GBP/CHF pair.

More on the direction if you read pages 84 to 86.



The Earth & Sky Thinking: 34 EMA Blue (Sky) - 55 EMA Brown (Earth) If blue is above brown and price is above the 200 EMA, you will look for a long Earth and Sky zone, if blue is under brown and price is under the 200 EMA, you will look for a short Earth and Sky zone to trade. Remember the blue = Sky and brown = Earth. This will give you an immediate sense of direction in the market. If the Sky is above the Earth then the market is long, if the Sky is under the Earth then the market is short on that specific time frame. The following chart is an example where the Sky is above the Earth and price above the 200 EMA = market is long on this 4hour chart and the daily. This mean we will only look for a long Earth and Sky zone. Can you also see that the direction indicator is showing us to look for longs on both time frames?



Here is the same chart with our Earth and Sky long zone: Can you see how I fib on the 4hour chart from last week`s low to this week`s high to get an Earth and Sky long trading zone?

If the 4 hour EMA`s are different from the Daily EMA`s, then you will move away from the 4hour chart and look for an entry only on the daily chart. Remember the Daily chart will have the monthly fib on it, not the weekly fib. Let`s have a look at an example with fibs on a Daily chart. The direction indicator is showing that it is mixed on the 4 hour but long on the daily chart.



Daily chart with monthly Fib example:

We wanted to trade the 4hour chart but can’t fib the previous week to get a zone because the closing price (like on this chart) was lower than the opening price of the previous week and the direction on the 4 hour is mixed – but we still long on the daily chart. Now we can`t fib the 4hour chart anymore to get an Earth and Sky long zone (Main trend) so we will have to fib the daily chart to get an Earth and Sky long zone. Let`s have a look:

Daily chart with the Earth and Sky long zone:

Can you see that the direction indicator is showing us that the 4 hour direction is mixed and not the same as the daily chart and that price was trending down last week as we closed min 125 pips lower than the opening of the previous week, but remember the main trend is still up according to the daily chart.



In this case we can`t fib the 4hour chart to get an Earth and Sky LONG zone, so we will have to fib the daily chart. Can you see how I fib on the DAILY chart from last month`s low to this month`s high to get an Earth and Sky long zone? Remember:

On a Daily Chart we will have the monthly Earth and Sky trading zone between the 50% - 75% fib area.

On a 4 Hour Chart we will have the weekly trading zone between the 50% -75% fib area.

Now you have identified a possible trading zone area with your fib where price might react and where we want to do business. So what now?

Let`s have a look at a couple of examples how to fib, how to set up a trading plan for that specific pair, how to take the trades in the

zones, where to place the stops and where to take profit.



Example: 4 Hour Chart with an Earth and Sky long zone.

In this example we have the Euro/USD 4hour chart. The Direction Indicator tells you that the direction is long on the daily and 4hour time frames. Now you know that you can fib the 4hour chart from

last week`s low to this week`s high to get the long trading zone.



When price gets to your Earth and Sky long trading zone between the 50 and 75% fib area, then you will start paying attention and answer some questions using my cheat sheet: The 4 hour chart: MACD - What is it doing? Do we have divergence/convergence. Is it high or is it low? Is it rolling or curling over? Stochastic – is it crossing in an overbought or oversold area? Do we have any 55 EMA`s and 200 EMA`s in the zone as they are usually strong support/resistance EMA`s that can stop price. Do we have any weekly/monthly pivot points in this zone? Do we have previous support/resistance in the zone if we look to the left of the chart that maybe holds hands with these EMA`s or pivot points ? Do we have a psychological level in the zone close to the above mentioned areas? Do we have any reversal candle patterns showing up at these levels? The 1 hour chart: What is happening on the 1 hour chart going thru the above list again. Now we also have to draw a current trend line on the 60 min chart that needs to break first before we will be able to take any long trades.



Let`s have a look at this Euro/USD 4 hour chart on page 54 as a case study: If we look at the chart we can see the direction indicator is green on both time frames - We need to look for an Earth and Sky long zone and we will be able to fib the 4hour chart to get the Earth and Sky trading zone. .......................................................................................................... Let's use my cheat sheet to answer some questions to get the information we need for a trade plan for this pair. ..........................................................................................................

My cheat sheet for the Euro/Dollar on the 4 hour chart :

Difference between last week’s open/close: Plus 53 pips.

Earth and Sky Trading Zone for the week:

Price is above the 200 EMA 34 EMA (sky) is above the 55 EMA (earth) Direction: Long Potential trading zone: Between the 1.06191 and 1.05649 levels

(Earth and Sky long zone between the 50% and 75 fib area)

Potential area to look for reaction: At the 1.06075 and 1.06000 level.

(We have a 200 and 55 EMA and a psychological level in the zone and previous support resistance areas if we look to the left of the chart in the same area so this is a roadblock)

Potential Profit take areas: At the 1.07139 level. (Last week`s high or any weekly pivot point we might have that can be a roadblock - look also for previous support/resistance that can form a roadblock)

MACDEE Divergence: No Stochastic: No man's land



We have now identified our long Earth and Sky zone with possible `roadblock` areas on the 4hour chart. Once price moves into the trading zone we need to drop to the 60 min chart and do some homework before we can take the long trade. 1) Place a current bear trend line on the 60 min chart. 2) Look for MACD divergence 3) Look for oversold stochastic 4) Look for candle formations at roadblock areas. (previous support and resistance areas) 1 Hour chart with trend line and previous support/resistance:



We can see how price found support at our roadblock levels we indentified when we did our homework using the cheat sheet. Price broke the current bearish trend line and act now as confirmation to take the long position. We will place the long order once the 60 min candle closes. The stop will have to be underneath the low we had at that psychological level. We will always look to place a barrier between the entry price and the stop. In this case we have that psychological level and that previous low we made that act now as a support and barrier before price can get to our stop. 1 Hour chart with trend line break as confirmation:



For extra confirmation we can also drop to the 30 min chart and wait for a ribbon cross and the trend line break before we go long. This ribbon indicator is a 13/27 EMA cross and forms part of the downloadable template at Forex Mentor Pro. The 30 min chart with trend line break and the ribbon indicator that crossed - so this is good confirmation to go long:



Direct orders and stops: If you have the time to trade the current trend line break in the trading zone area on the smaller time frames, then you can have your stops above the previous high or low price made before the trend line break or you can look to the left of the chart to identify support and resistance levels that can be used for stop areas. Look for EMA`s, Bollinger bands and pivot points, previous support/resistance that can be used as a barrier between your entry and your stop. Forward Orders and stops: Some of us don't have the luxury to spend time in front of the charts. If that is the case then we will have to rely on forward orders. We will do exactly the same homework like we did above to find the Earth and Sky trading zones where we want to look for trades. We will identify the high probability areas (by answering some questions on page 53) within the Earth and Sky trading zone and place our forward orders at these high probability levels. Our stops will have to be just above the 75% or just above the 100% fib levels if we trade forward orders taking short entries and just under the 75% or just under the 100% fib levels if we trade forward orders taking long entries. We will also look for EMA`s, Bollinger bands and pivot lines, trend lines, previous support/resistance levels that can be use as a barrier between our entry and our stop levels.



Let’s say we want to place a forward long order in at the 55 EMA area as we had multiple reasons here and it falls into our Earth and Sky long zone. Now we will have to place our stop just under the 75 % fib level or at least look to place our stop on the other side of a support/resistance barrier. Red circles on the chart.



Profit take areas:

Profit take areas will be at the previous weeks high/low or at pivot point areas or roadblock areas where I have EMA`s or previous support/resistance areas that can stop the move. Let`s have a look at that Euro/USD long we took.

Our first roadblock we had was at the psychological level at 1.07000 so this can be the first profit take area.

Second roadblock was at the high we had for the week at 1.07139 so this can be the second profit take.

Third roadblock was at the blue line where we had a weekly pivot point waiting so this can be the third profit take area.



A Brief Introduction to Risk Management: How much to risk per trade & how to calculate the lot size? This is a complex subject that we cover in more depth in the courses. However in the the members area you will find the Fotis Risk Management tool that cost over $500 to have developed. It does all the work for you and you can download it free of charge. There is a video and full set of instructions on how to use it. The basics Before you place an order you need work out how much to risk and the potential of the trade. Ideally its best to look for trades that have the possibility of giving at least twice as much profit as the amount risked.

This is known as the risk reward ratio. Therefore if you are looking to risk $50 on a trade you need to see that technically the trade has the potential to make $100.

You need to calculate where you aim to enter, where to place the stop and the potential target BEFORE taking any trade. Then you need to calculate the lot size for that $50

It’s also important to control how much you risk on ALL of your trades at any one time.

On a small account never risk more than 2/3% of your account per trade. Never have more than 5/6% overall exposure on open trades at once.

On a bigger account many professionals only risk 0.5% per trade.

This tool will calculate the potential risk/reward ratio for you so you can determine how much to invest in any trade and what lot size is required. It will help you set targets for stop and entry points as well as letting you squeeze more out of every trade.



When to trade and when not to trade – that’s the question!

Yes, it is true that the Forex is open 24 hours a day, 5 days a week, but that doesn’t mean it’s always active the whole day. You can make money in the Forex when the market moves up, and you can even make money when the market moves down. However, you will have a very difficult time trying to make money on certain days.

Here are a couple of suggestions when to trade and when to sit on your hands – go fishing or go shopping with the wife.

When to trade if you want to lose money!

If you really do not want to trade during the busier times of the market when trade volume and pip movement is highest and where you think it will make money easier, then by all means, feel free to trade on these times mentioned below. I guarantee you’ll have a more difficult time trading!

Fridays: Fridays are very unpredictable and is a good day to trade if you want to lose the profits you made during the week.

Sunday market open: There is very little movement on these days.

Holidays: Banks are closed which means very little volume for whatever country is having the holiday. Holidays are great to trade when you would rather lose your money than take a day off and enjoy the other things in life.

News Reports: No one really knows where the price will go when a news report comes out. You could lose a fortune trading during news releases if you don't know what you're doing.



Pip ranges:

After a bit of research looking at the pip range for the 4 major pairs for each day of the week, what did I learn?

Well it looks like the middle of the week is the time to look for that 4 hour or daily M2 entry.

That will be on a Tuesday and Wednesday. Fridays are usually busy until 12pm EST and then the market pretty much drops dead until it closes at 5pm EST.

If you go to this site, you can attach a free link that will give you a lot more information as to your trading performance: MyFxbook.com

It will tell you your most profitable & worst: pairs, times of the day/week, risk of ruin, draw down versus profit and a lot more.

It will also help you to build a verified track record if you ever want to trade for private clients or a fund.

Whenever I work with students on a “one to one” basis I always insist they do this as it makes them accountable and gives them nowhere to hide if they break the rules and do something silly!

Do this now. Being accountable often makes the difference between a retail trader succeeding or not.



http://www.myfxbook.com/

My Work Station The best will be to have 2 monitors so that you can run two correlation pairs next to each other like say the 4 hour EURUSD chart against a 4 hour USDCHF chart. In currency trading you need to see things clearly. This is difficult on a laptop. If you are not able to see clearly, it might cost you money or you might lose out on a good trade. I have three monitors, one as my main work station and my second and third are allocated for my charts. On my desk I have a laminated copy of my stress free trading plan. This helps me to keep focused on what I want price to do before a take an entry. On my wall I have a black board with a weekly trading record. This helps me to see where I am for the week/month and what needs to be done to reach my monthly target. The last but not the least is a reliable calculator. You will use this everyday working out stops, pips, profit take areas and lots more.



Now that you have seen the system – how does it work?

Trading for me is all about levels. You have noticed traders talk about selling the rallies in a down trend or buying the dips in an uptrend. This system will help you with four things most traders struggle with:

1) The preferred trend. 2) Areas to look for entries. 3) Areas to look for profit take. 4) Areas to look for stops.

This system will show you where there is a potential rally or potential dip for a specific currency pair in the market. These rallies or dips will usually be in the preferred trading zone.

Armed with this information, you will be able to identify the better levels in the market for your potential entry.

First you need to know how to fib it.

This is the backbone of this system. First you need to change your values on your Fib to my settings. You only need the 0%, 50%, 62.5 and 75 and the 100% settings. There is a video in the site that shows how to do this.

Sometimes you need to be a little creative with the way you draw your Fibs.

Remember, we are looking for a trading zone where we will look for possible entries not a specific value.

This will come with practice and later you will find it second nature and do it without any headaches.

To make my trading zone more obvious, I will highlight it with a rectangle. Do it on your charts as well – it makes it so much easier if you go through the charts to see which currency pair is in the trading zone.



Something one of our members posted regarding how to draw Fibs:

“The only trouble with a Fib being subjective is sometimes it feels like I'm trying to make the Fib fit and area I'm interested in. But very

often it is correct.

Maybe this is the correct approach for “Fibbing” as we are looking for confluence when looking for areas of interest.”

In the end we need it to be like a puzzle where all the pieces fit together to give us that confluence we need to identify the appropriate/better trading zone where we want to take our trades.



Let’s have a look at some Earth and Sky trading zone examples.

1) Bullish Market (Daily and 4 hour direction shows bullish) How to fib the 4hour chart for the weekly trading zone.

Example:

We are in a uptrend trend. The 34 EMA is above the 55 EMA and price above the 200 EMA`s. Last week `s closing price was higher than the opening price according to the direction indicator.

Now we need to fib from last week’s low to the current highs of this current week to get the Earth and Sky long trading zone. Notice how I followed price in the current week with the fib until the correction comes.



Now we need to fib from last week’s low to the current weeks high to get the Earth and Sky long trading zone. Notice how I followed price in the current week with the fib until the correction comes.



2) Bearish Market (Daily and 4 hour direction shows bearish)

How to fib the 4hour chart for the weekly trading zone.

Example:

We are in a down trend. The 34 EMA is under the 55 EMA and price under the 200 EMA`s. Last week `s closing price was lower than the opening price according to the direction indicator.



Now we need to fib from last week’s high to the current week`s low to get the Earth and Sky short trading zone. Notice how I followed price in the current week with the fib until the correction comes.



Sometimes the need arises to draw monthly fibs on a daily chart. This will be when the 4 hour EMA`s are going in the opposite direction from the Daily 34/55EMA`s. The main trend is still short according to the direction indicator.

Remember the vertical lines. On a daily chart it will give you monthly intervals. So, no need to stress. You do exactly the same as you would have done on a 4 hour chart – now you will have the monthly trading zone on a daily chart.

1) Bearish Market (Daily and 4 hour direction not the same so now we need to fib the daily chart)

How to fib the DAILY chart for the MONTHLY trading zone.

Example:

The 4 hour EMA`s are mixed from the Daily 34/55EMA`s. The main trend is still short.



Now we need to fib from last MONTH`S high to the current MONTH`S low to get the Earth and Sky short trading zone. Notice how I followed price in the current months low with the fib until the correction comes.



Remember currency trading is addictive.

My kids always tell me when they are upset with me - ` You are not the boss of me!

This is the way how you need to feel about currency trading. Trading is not your boss but if you are not careful with it its…very addictive. When I start to feel like it is taking over my life – then I know it’s time to take a break from it. The market will still be there next week.

What is my advice to you as a new trader?

Stick to a trading plan. That is your currency bible. It will give you the guidelines to become a profitable currency trader. Without it you will be lost. With it you stand a better change at the battle field. With it, trading doesn’t have to be stressful. You will have a road map for the week so you can be focused on what needs to happen before you take a trade.

Since I originally wrote this e book in 2011 I have made slight changes, alterations and additions to my system. This is quite normal for professional traders. We need to constantly evolve and change with the markets. For example what is happening today is completely different to what happened before and during the financial crash.

If you would like to acquaint yourself with my updates and get daily analysis and trading ideas, as well as “talk” with me in the forum that I run, then consider giving Forex Mentor Pro a try, you won’t regret it.



We have a great group of like- minded positive people, many of whom now trade full time and are happy to share their knowledge with you, no matter how dumb the question might seem.

Attached you will find a shorter “Stress free trading plan” and a probability study - In order for you to keep trading the system, make a copy, laminate it and keep it on your desk for daily reference. Use the check list to assist you before you place a trade. You will also find on pages 86 to 88 more information regarding the direction indicator and how to fib if you still in the dark after the read in this e book.

I hope that this e book will bring consistency in your trading and that it will take your trading to the next level of success.

Regards

Pierre.

Pierre Du Plessis

Learn from yesterday, Live for today and Hope for tomorrow !



Trading Cheat Sheet Notes: Currency Groups:

Group 1: The Euro/USD, Euro/GBP, Euro/JPY (all positive correlated) and the USD/CHF that is highly negative correlated with the Euro/USD pair.

Group 2: The GBP/USD and the GBP/JPY pair (positive correlated)

Group 3: The AUD/USD and the AUD/JPY (positive correlated)

Group 4: The USD/JPY and USD/CAD and Dollar Index (positive correlated)

I will only take 1 group entry at a time

Trading Times: Monday to Thursday

Manage open trades on Fridays. No new entries on Fridays. Don’t trade NFP. (No problem – I don’t trade Fridays) Don’t trade interest rate announcements.

FIB Setting: 0, 50, 62.5, 75 and 100. (My Earth and Sky trading zone will be between the 50% and 75% fib levels). This is the only area where I will start looking for my weekly entries if I want to trade with the trend. If price gets to my zone, I will look at my indicators to give me more confirmation regarding overbought/oversold areas. If I have the time, I will move down to the smaller time frames like the 60 min or 30 min chart and wait for a current trend line break or ribbon indicator cross. If I wait for the trend line break or the cross, price will show me where to place my stop. This will be above the previous high or low before the trend line break or cross happened or I can look at the candles to the left of the chart after the trend line break that will give you support or resistance levels that can be used for stop levels.



Forward Orders: I will do exactly the same homework like I did normally to find the Earth and Sky trading zones where I want to look for trades. I will identify the high probability areas (by answering some questions on page 53) within the Earth and Sky trading zone and place a forward orders only at the high probability levels. My stop will have to be just above the 75 or just above the 100% fib levels if I trade forward orders taking short entries and just under the 75 or just under the 100% fib levels if we trade forward orders taking long entries. We will also look for EMA`s, Bollinger bands and pivot lines, trend lines, previous support/resistance levels that can be use as a barrier between my entry and my stop levels. Open trading windows:

Daily chart with monthly Fibs set with......200, 55, and 34 EMA`s, Bollinger Bands set at 20. The 34/55 EMA sets the main trading direction.

4 Hour chart with weekly Fibs, set with ......200, 55, 34 EMA`s, Bollinger Band set at 20.

MACD Trigger Indicator with settings: 5,13,1 Stochastic with settings: K period 13, slow 8 and D period 5

(87 -13).



Setup for entry:

Calculate lot size using a lot size calculator set at 2/3% per trade.

I will only trade the 4hour chart when the direction of the 4 hour and the Daily 34/55 EMAs are pointing in the same direction.

If the direction on the 4hour chart EMA`s are different from the Daily chart EMA`s, then I will move away from the 4hour chart and look for entries on a Daily chart with the monthly trading zone. Only once the direction of the 4 hour EMA`s is the same as the Daily EMA`s will I move back to a 4hour chart as my main trading chart.

34 EMA Blue (Sky) - 55 EMA Brown (Earth) Pink - 200 EMA. If blue is above brown and we above the 200 EMA, I will look for longs, if blue is under brown and we under the 200 EMA , I will look for shorts.

On a Daily Chart: between the 50% - 75% = trading zone area = monthly fibs.

On a 4 Hour Chart: between the 50% -75% = trading zone area = weekly fibs.

Now I have identified a possible trading zone area with my Fib where price might react.

If price gets to or into the trading zone, then I will pay attention to the MACD – where is the histogram? What is it doing? Do we have MACD divergence/convergence? Stochastic – is it crossing in an overbought or oversold area?

Now I will move down to a smaller time frame like a 30 or 60 min chart. I will place a current trend line and wait for the break or a ribbon cross on the 30 min chart before I place an order. If I am able to wait for the trend line break, then I will be able to see where to place my stop that will mean I can have a bigger lot size than if I only trade with a forward order.



Stops and Profit take:

My stop will have to be just above the 75% or just above the 100% fib levels if I trade forward orders taking short entries and just under the 75% or just under the 100% fib levels if we trade forward orders taking long entries

If I have the time and trade the current trend line break in the trading zone area on the smaller time frames, then I can have my stops above the previous high or low price made before the trend line break or I can look to the left of the chart to identify support and resistance levels that can be used for stop areas.

Profit take areas will be at the previous weeks high/low or pivot point areas or roadblock areas where I have EMA`s or previous support/resistance areas that can stop the move.

I WILL WAIT FOR PRICE TO COME TO MY ZONES !!



Probability Study Notes: On Mondays I will look at.......

1) What is the direction of the daily 34/55 EMA? UP/DOWN

2) Is the 4 hour 34/55 EMA the same as the Daily? YES / NO

3) If the answer is no trade from the Daily chart.

4) Draw the Fib on your preferred time frame.

Questions you need to ask when price gets into the trading zone

Looking on the chart:

1) Where is the 200 EMA in relation to price? Answer:..........................................................................................

2) Is the 34/55 EMA still open and still trending in the preferred

direction? Answer:..........................................................................................

3) Do I have any weekly/monthly pivot points in the trading zone?

Answer:..........................................................................................

4) Do I have any psychological whole numbers in the trading zone? Answer:..........................................................................................

5) Do I have any reversal candle patterns forming at these levels in

the trading zone? Answer:...........................................................................................



6) Do I have any trend lines coming from older areas in the trading zone that can give resistance or support? Answer: .........................................................................................

7) What is the Bollinger band doing – is price outside it – is it a one in

a million years Bollinger band? Is it trending down or up? Is it curling up or down? Answer:............................................................................................

8) What is the MACD doing – is the histogram crossing or about to

cross or do we have MACD divergence/convergence? What are the 2 moving average lines doing? Is it open or about to cross? Answer:..............................................................................................

9) What is my Stochastic doing – is it crossing – is it in the overbought oversold area? Answer:.............................................................................................

If the probability study shows me that price will most likely react in the trading zone wait for confirmation by asking myself...

“Did price break the current trend line on the 30/60 min chart and did we have a ribbon cross on the 30 min chart ?”



Probability study for the Euro/Dollar on the 4 hour chart :

Difference between last week’s open/close: Plus 53pips.


Remember, if price don’t give us the pull back but instead make new lows/highs follow price with your fib to get the "adjusted" Earth and Sky Trading Zones for the week.

Price is above the 200 EMA 34 EMA (sky) is above the 55 EMA (earth) Direction: Long Potential trading zone: Between the 1.07093 and 1.06467 levels.



Potential area to look for reaction: At the 1.07093 (50% fib and weekly main pivot and previous support/resistance) and 1.07000 psychological level and 1.06562 (daily 55 EMA) and 1.06527(4 hour 200 EMA) levels.

Potential Profit take areas: At the daily 200 EMA at 1.07944 and the WR1 pivot at 1.0816 levels.

MACDEE Divergence: YES! Stochastic: Overbought

Counter Trades:

Potential Counter Trades: At 1.07944 (daily 200 EMA) and the WR1 pivot at 1.0816.

Potential Profit take areas: At the 4 hour 55 EMA and 50% fib level and weekly main pivot level at 1.07093.

Warning: Counter trades are always more risky than trading with the main trend so change your lot size accordingly if you want to counter trade!

Notes:

We are currently at key resistance levels as we have a daily 200 EMA and WR1 pivot at 1.0816 with MACD showing divergence and an overbought stochastic so there is a potential counter trade that can set up. I will use the same method to enter a counter short like I use to take trades from out of my Earth and Sky zone.

I will drop to the 30/60 min charts, place the trend line and wait for the confirmation before I will take the counter short.

In my trading zone I have multiple reasons at my 50% fib area as we have the weekly main pivot, previous support/resistance and a psychological level here too. So this will be my roadblock area where I will look to go long again trading with the main trend.



***************************************************

Let's take a look at some IMPORTANT notes from one of my blog post`s at Forex Mentor Pro that can be useful for you when you do your own probability studies trading the Earth and Sky System!

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`Today we are going to look at my cheat sheet. What do I need to do every week when I do my analysis and most importantly - How do I do it. There is also a video in my section “Step by Step: How I do it”

Well let me just start by saying that I trade two methods:

1) The Earth and Sky trading zone method if I want to trade with the main trend.

2) The Support/Resistance pivot method if I want to take counter trades back to my Earth and Sky trading zones.

Let's have a look at my cheat sheet. If you feel a little lost when you read this, don't fear as it all will come together at the end.

...................................................................................

Part 1 to the cheat sheet: What time frame to fib?

First of all I need to work out if I will have to fib the 4 hour chart or the daily chart to get the Earth and Sky trading zone.

Let`s have a look at a couple of scenarios.

When to fib the 4 hour chart ?

1) Imagine price is in a down trend. The direction indicator shows that we have red lights on the 4 hour and daily chart plus price closed lower on Friday than the opening of Monday then we can fib the 4 hour chart from last week`s high to the low of last week / or



current low if we made new lows to get the Earth and Sky short zone for the week if we want to trade with the main trend.

2) Price is in an uptrend. The direction indicator shows us that we have green lights on the 4 hour and daily chart plus price closed higher on Friday than the opening of Monday then we can fib the 4 hour chart from last week`s low to the high of last week / or current high if we made new highs to get the Earth and Sky long zone for the week if we want to trade with the main trend.

...................................................................................

When to fib the daily chart?

Let's say we are in a downtrend. The direction indicator shows that we have green lights on the 4 hour and we closed Plus x pips higher than the previous weeks opening BUT we have red lights on the daily chart then we can't fib the 4hour chart to get the Earth and Sky SHORT zone for the week. The main direction is still SHORT, but price was trending UP the previous week on the 4hour chart so now we have to fib the daily chart to get the Earth and Sky short zone if we want to trade with the main trend



or if the direction indicator is mixed up on the 4 hour (colour not the same) as the daily then we also need to fib the daily chart to get the Earth and Sky short zone.

or if we have red lights on the 4 hour and the daily chart but we had little movement the previous week if we look at the opening/closing of the previous week then we also need to fib the daily chart to get the Earth and Sky short zone. I will look for an example and attach it later if I can find one.

...................................................................................

Let's say we are in an uptrend. The direction indicator shows us that we have red lights on the 4 hour and we closed Min 50 pips lower than the previous weeks opening BUT we have green lights on the daily chart then we can't fib the 4hour chart to get the Earth and Sky LONG zone for the week. The main direction is still LONG, but price was trending DOWN the previous week so now we have to fib the daily chart to get the Earth and Sky long zone if we want to trade with the main trend.

or if the direction indicator is mixed up on the 4 hour (colour not the same) as the daily then we also need to fib the daily chart to get the Earth and Sky long zone



or if we have green lights on the 4 hour and the daily chart but we had little movement the previous week if we look at the opening/closing of the previous week then we also need to fib the daily chart to get the Earth and Sky long zone.

Ok now we know what time frame to fib to get the Earth and Sky trading zone for the week? Let's have a look at the rest of the cheat sheet and just answer the questions!

Part 2: Just answer the questions for the specific pair to get a trading plan for the week


Price is under/above the 200 EMA: 34 EMA (sky) is under/above the 55 EMA (earth):

Direction:

Short = If the 34 is under the 55 EMA and 200 EMA we are short (Look at the direction indicator)

Long = If the 34 is above the 55 and 200 EMA we are long. (Look at the direction indicator)

Potential trading zone: Between the ...........and..............levels (Between the 50% to 75% fib area)



Sometimes we might have road blocks before the Earth and Sky trading zone, add then a 38.2 fib and have a look if it holds hands with the roadblocks. If it does, keep an eye on it as it can be the turning point for the week.

Potential areas to look for reaction in the trading zone:

Look for roadblocks (areas where price might have a reaction) in the zone like the 34 and 55 and 200 EMA`s (the 55 and 200 EMA`s are usually the strongest roadblocks) previous support/resistance if you look to the left of the chart, pivot points, psychological levels, candle formations, patterns like double tops/bottoms, the top/bottom of the Bollinger band.

Potential Profit take areas: At the levels. (Once again look for potential roadblocks like above plus, now look for last week's low/high area`s too.

MACDEE Divergence: Yes/No (Remember when we hit key roadblocks to drop down to the 60 min chart too and see if you can spot divergence here) Stochastic: Oversold/Overbought?

If we have MACDEE Divergence see if you can spot possible roadblocks like we did above. I want to see MACDEE divergence once we are close to roadblock areas........not when price is in no man's land. If we don't have MACDEE divergence showing on the 4hour chart once we hit key levels, drop to the 60 min chart and see if we have any there.

MACDEE divergence is an early warning sign that a possible correction is on its way!

Notes for myself:

Make notes using the information above to work out a trading plan for the week ahead.



Correlation: This pair is POSITIVE CORRELATED OR NEGATIVE CORRELATED with the following pair If you need more information regarding correlation go to https://www.mataf.net/en/forex/tools/correlation

***************************************************

Let's use the template and do a practical exercise on a 4hour Dollar/JPY chart.

***************************************************

The Euro/JPY on the 4 hour chart:

The direction Indicator tells us that price is bearish on the 4 hour and daily charts so we can fib the 4hour chart to get our Earth and Sky short zone.

Difference between last week’s open/close: Min 160 (We are in a strong down trend)




The Earth and Sky Trading Zone for the week :

Price is under the 200 EMA 34 EMA (sky) is under the 55 EMA (earth) Direction: Short

Potential trading zone: Between the 119.28 and 119.79 levels (between the 50% and 75% fib area)

Potential area to look for reaction: At the 119.57 (55 EMA) and 119.72 (WR1 pivot point and 200 EMA and previous support/resistance)

Potential Profit take areas: At the 118.24 level (last week`s low area) and at 118.00 and at the WS 1 pivot point at 117.64.

MACDEE Divergence: No Stochastic: No man's land

Notes:

Price currently camping out at the main pivot point. I will prefer a pullback to the 55 and 200 EMA where I will re look to short from. (Make notes for yourself regarding your plan you have for this pair)

Correlation: This pair is POSITIVE CORRELATED (moving in the same direction) as the Euro Index, Euro/USD and the Euro/GBP. Be careful; don’t take the same trades on these four pairs at the same time! If you need more information regarding correlation go to https://www.mataf.net/en/forex/tools/correlation

***************************************************

By answering the questions using the cheat sheet, we will have a comprehensive trading plan for the week ahead for the specific pair we look at.




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