Brainstorming Session: OctaveJay's Weekly n Daily Trade Setups

The crazy thing about the Forex Market is the fact that there are so many opportunities every single day to
the point where us traders will never have the time to trade them all...

This is not a typical thread where I will be providing help or training, this is just a space where I will discuss
my ideas and brainstorm every single day or week.

Like Edward de Bono said, and I quote " It is better to have enough ideas for some of them to be wrong, than
to be always right by having no ideas at all."

I have talked to a lot of traders for the past few weeks, and they told me that my 1MTF/M5TF System(Intra
day-Trading) is too fast for them, and they barely have time to cope with the velocity... So, in a Picasso's style,
I have decided to use this space as a source of inspiration to post my HTF setups....

Look, if you choose to observe or trade on my ideas, I expect you to know everything that you need to know
as a trader...

Week 1: Feb 21st - Feb 26th, 2016


Potential Trade Setups on my radar this week

1. USD/JPY, H4TF
2. USD/CHF, H4TF
3. USD/CAD, H4TF
4. EUR/USD, H4TF

1. NZD/USD, H4TF
2. EUR/JPY, H4TF
3. EUR/AUD, H4TF
4. GBP/CHF, H4TF

1. AUD/CHF, H4TF
2. CAD/CHF, H4TF
3. NZD/CHF, H4TF
4. CHF/JPY, H4TF

1. USD/MXN, H4TF

Note: I will be posting my chart work and the thought process behind all of them pairs on Sunday night....
Some of them pairs will establish Trends that are going to last for at least 2-3 weeks depending on the
Fundamental aspects.

Stay tuned!

A quick Snapshot on USD/JPY, H4TF:

Federal Reserve policymakers worried last month that a global slowdown and financial market selloff
could hurt the U.S Economy and considered changing the Central Bank's planned interest rate hike path
for 2016. Although, most of them still expected to raise rate this year, but they were divided on the last meeting,
according to a report this week.

When I look at this chart below, I could clearly see that the market is at an exhaustion point, and the market markers
are going to create some kind of a story to ignite a little bit of faith among traders to start buying this pair.....

The only way to do that is by causing a "Gap Up" at the open on Sunday night, then a small retracement to tell us that
this pair is not going to violate last week Low....

I placed a small Buy Pending Order last friday so that I can have more interest to observe this pair throughout the week....I am
looking forward to adding more positions once I have the Bullish Confirmation on the M30TF.



Note: As a trader, when you analyze the market on the Higher-Timeframe, it doesn't mean that you have to find your Entries
on that same TF, it's best to get to a lower TF for Entries...So, it only makes sense to use M30TF as Entry point...

The first thing you do is to identify Last week High and Last week Low so that you can make a case for your decision throughout the week.

USD/JPY, M30TF

Current Market Condition: Bearish
Last week High: 114.865
Last week Low: 112. 294

Profit Target Projections: ( Apply the "IF THEN" Thought Process )

IF USD/JPY maintains it's Bearish Momentum, THEN my TP for the week is : 110.710

IF USD/JPY reverses to a Bullish Momentum, THEN my TP for the week is : 116.420

Remark: It might take a few days or weeks for either Targets to hit, but the most important thing is to protect
your capital. Meaning, once the market moves 30-40pips in your favor, move your SL at Break-even and Observe.

USD/CHF, H4TF

A lot of top Hedge Fund managers got burned earlier this year, because they relied so much on
Market Correlation, and as trader when you look at what USD/JPY and EUR/USD are doing, you would definitely
be afraid to trade USD/CHF or even get close to it after the mess last year by the Swiss Bank....

Unexpected Events do occur, and as long as the market is moving and I see opportunities, I will always find
a way to jump in and manage my trades....

Make no mistake, this is definitely a chart to think twice about, and really see what's going on through the noise.
It's best to trade this pair on the Hourly chart, but if you have to catch the trend at the beginning.

Observation only at this point, but the Uptrend has been established and I would like to see some continuation.

Keep your eyes open on CHF Risk Events this week.



USD/CHF, M30TF

Current Market Condition: H4TF: Bullish - M30TF : Bearish
Last week High: 0.99677
Last week Low: 0.97646

Profit Target Projections: ( Apply the "IF THEN" Thought Process )

IF USD/CHF maintains it's Bullish Momentum, THEN my Long TP for the week is : 1.00936

IF USD/CHF reverses to a Bearish Momentum, THEN my Short TP for the week is : 0.96381

Remark: It might take a few days or weeks for either Targets to hit, but the most important thing is to protect
your capital. Meaning, once the market moves 30-40pips in your favor, move your SL at Break-even and Observe.

A quick Update on USD/JPY, M30TF:

My first buy trade from last Friday has been hit for a quick 45+pips.

Second trade is on right now, and I am waiting for London traders to tell me exactly where
they want to drag this pair throughout the week.

USD/CAD, H4TF

There's a correlation between this pair and oil prices, and if you want to know more about it, you might
need to do some research on your own because all the information is there on the internet, but what you
need to know as a trader is whenever the Oil price is going down, it weakens the Canadian dollar or its
economy....As a result CAD/XXX goes Down, and XXX/CAD goes UP.

Right now, when I look at the H4TF, it's very clear to me that this pair is in a Massive Dowtrend, and
the funny thing is the oil price hasn't been moving up that great to paint that picture...Anyhow, I will be
trading the downside as long as it stays that way or reverse my market bias whenever I see a different
story....

So, keep your eyes on the Oil price to make a good case for this pair....

A good read on recent Oil Update:



USD/CAD, M30TF

Current Market Condition: Bearish
Last week High: 1.39105
Last week Low: 1.36524

Profit Target Projections: ( Apply the "IF THEN" Thought Process )

IF USD/CAD maintains it's Bearish Momentum, THEN my Short TP for the week is : 1.34955

IF USD/CAD reverses from an unexpected event/ Bullish Momentum, THEN my Long TP for the week is : 1.40698

Remark: It might take a few days or weeks for either Targets to hit, but the most important thing is to protect
your capital. Meaning, once the market moves 30-40pips in your favor, move your SL at Break-even and Observe.

EUR/USD, H4TF

This pair is everybody's favorite, and I really don't have much to say about it. Haha!

Based on the H4TF, this pair is still Bullish, but it's on a temporary Bearish Retracement. If this
pair wants to go down for the next 2 weeks, I would prefer a failed attempt to the upside near
the Synergy Box...



Note: Last week trading has been very choppy, and I don't want to do a Target projection for
this pair, but here's how the M30TF looks like:

More Updates are coming soon after Monday Trading day!

Stay Tuned!

Usd/jpy, h4tf




usd/jpy, h4tf

USD/CHF, M30TF

I am expecting a strong move to the downside and a rebound to the upside, but there's no guarantee because
USD has been crushed lately.

USD/CAD, M30TF

I failed to take advantage of this pair, I saw the pattern Formation very late and didn't know this was going to reverse
at that point. Got burned on a short trade.

EUR/USD, M30TF Update:

It's very interesting to see how USD/JPY and EUR/USD are moving in the same direction. Most people will
get nervous or be mad at the market, because they expect some kind of correlation... HAHA!!

This is why it's very important to do separate analysis on both pairs and most likely trade what you see
instead of what you think or learned in the past....

This is a perfect example. By the way, I didn't get the small bullish retracement that I was expected and this
is why I didn't risk anything on this pair.

NZD/USD, H4TF

When I look at the H4TF, it's very clear that this pair is trending to the upside, but for the past 2 weeks
I can see some kind of consolidation phase there...It's best to trade this pair on a lower TF for small quick
profit instead of holding it for so long....I have learned that this pair and AUD/USD tend to behave very well
around key risk events...




NZD/USD, M30TF

While H4TF shows Bullishness, the M30TF has a different story, and this is why we are experiencing indecision
at this point....

EUR/JPY, H4TF

I enjoy trading this pair, but this time I missed out on a massive move to the downside...I might be waiting
for a small retracement to the upside, and take advantage of the trendline break.




EUR/JPY, M30TF

All indications point to more downside, but it's too risky right now for me to go in, I have to wait for the
pullback and see how it plays during the Asian Session.

USD/CAD, M30TF

As of right now, we are very close to the TP for the Week, and I didn't have any patient anymore. So, I walked
away with +140pips.

EUR/CAD, M30TF

This pair wasn't in my radar, but I got nervous trading EUR/AUD, so I decided to trade EUR/CAD instead,
and on top of that, this pair has a tendency of trading in the same direction as UCAD whenever there's
weakness amongst EUR and USD....

And, clearly I was on point, even though I didn't trust myself with both pairs open... LOL

Stick to your rules, and you will be rewarded GREATLY.... Not much this week, but I walked away with +184pips
on this one....

Note: Tomorrow, I will do a recap and lay out all the pairs from my radar....

Honestly, the watchlist was a bit too much for me, and hopefully next month, I will work with a smaller list...

Take care yall!

Jay

Week 2: Feb 28th - March 4th, 2016


Potential Trade Setups on my radar this week

1. USD/JPY, H4TF
2. USD/CAD, H4TF
3. EUR/USD, H4TF

1. NZD/USD, H4TF
2. EUR/JPY, H4TF
3. GBP/JPY, H4TF

1. AUD/CHF, H4TF
2. CAD/JPY, H4TF
3. GBP/AUD, H4TF

1. NZD/CAD, H4TF


Note: I will post chart work on Monday or Tuesday... Same Technique apply from our first week....

Edit: I was too busy last Friday, and failed to do the recap.....