It Is Time to Make a Big Change

If you think your life is not what you like it to be, and it has to be better, then you should change it now, not even tomorrow.

Don’t wait for the ideal situation to change your life. That ideal situation will never come, and so, you will never change your life.

All of you deserve a better life. You just need to want it and work toward achieving it.

That was the first tip for the day.

The second tip is about the markets. It is really good that you like to trade the markets to make money, to increase your wealth, to make a living, to become rich, or for whatever reasons you have.

But first you must have money to make money on the markets. You need a source of income that makes money for you consistently. Then you can use a portion of the money you make to trade the markets to make more money.

This is what all of the successful traders, businessmen and investors do. They force their money to make more money for them. They make their money to make more money.

This is how it works. And, this is what we teach our clients. We support them to achieve this goal.

The systems we develop for our clients are to help them achieve this goal. And, we are about to launch a new system which is the best of the best, because it is designed and developed based on our 18 years of experience in developing online business systems.

We are always after finding a good way to make wealth and happiness for our followers. We have made so many changes during the past several years to achieve this goal.

Finally, we came to this conclusion that we know our followers and their needs better than anybody else, and if there is someone who can change our followers’ lives, it is US, not any other company.

We have several websites/blogs in our network, but LuckScout’s followers and fans are mainly after trading. Therefore, we do know that any program that we launch, it has to cover these important topics:

  • Trading
  • Market analysis
  • Technical analysis
  • Fundamental analysis
  • Currency, stock and cryptocurrency markets

Our new program not only covers all of these topics, but it covers a strong system that launches an online business and affiliate system for you, to enable you to generate active/passive income from your trading and market analysis passion, while you are learning to become a consistently profitable trader.

It means you earn while you learn.

It keeps working for you after you become a consistently profitable trader, so that it enables you to increase your wealth and the money you make.

Additionally, if you already have a regular business, online business, job, expertise, etc., our system enables you to achieve more success with it. If you have already joined an affiliate system (e.g. KaratBars), you can achieve more success with it using our system.

This program will be launched very soon. We will give you enough information about the way it works, how it works, and what it is exactly.

Please stay tuned to get in as soon as it is launched, because our team cannot handle an unlimited number of clients in this program.

OK… Let’s take a look at the market.

Before you see the below market analysis report, please note that this is NOT a trading or investment advice and we are not trading and investment advisers. We are sharing this just to answer the questions of those who are interested in these market. You understand that you buy/sell/hold at your own risk.

New Monthly Candlestick Has Opened

Do you know how important the monthly candlestick is?

You have to analyze the monthly time frame, even if you are a day trader.

Why?

Monthly time frame and monthly candlesticks show you the long-term markets’ directions: Monthly Time Frame Is the King

For example, those who have been following us here on LuckScout.com, know what a monthly candlestick, with such a long lower shadow which has broken out of Bollinger Lower Band means:

GBPUSD Monthly

The last closed monthly candlestick (March 2020) has closed with a long lower shadow above a strong support level at 1.19578 on GBP/USD monthly chart. It is still possible that the next candlestick tests the support level. But this market will turn around most probably.

If the next monthly candlestick closes with a strong bullish body, then we are going to have a bullish market for the next several months, or even years.

Same thing on AUD/USD monthly chart, above the 0.6009 support level:

AUDUSD Monthly

When a long time frame like monthly tells you where the market will most probably go, you can then refer to the shorter time frames and look for the strong signals that are agreeable to the direction that the monthly time frame shows.

For example, if you refer to GBP/USD weekly chart now, you will see that a too strong buy signal is formed, which is agreeable to what you saw above on GBP/USD monthly chart. It means, you can go long based on what you see on the weekly chart. However, we need one strong bullish candlestick on the monthly chart to have the same long trade setup there.

So, you can go long based on the trade setup that you see on the weekly chart. But, instead of doing this, you can wait for the monthly chart to form the long trade setup as well, to go long, if you want to hold your position for several months or even years.

Two scenarios look more probable on GBP/USD weekly chart:

GBP/USD Weekly

Tip: When you trade based on the shorter time frames, your risk will be higher. When you trade based on a longer time frame like monthly, your risk will be lower, but your position has to be much smaller because you are going to hold your position longer, and you can be faced with strong market fluctuations. However, as you hold your positions for a longer time, you expect to catch a big movement that can make you thousands of pips, based on the trade setup you have followed on the monthly time frame.

The AUD/USD weekly chart long trade setup is much weaker than the GBP/USD weekly chart long trade setup you saw above:

AUD/USD Weekly

Do you know why?

Please leave a comment and explain. Thank you!

Published by

LuckScout Team

"Whether you think you can, or you think you cannot, you are right." - Henry Ford

23 comments:

  1. GBP/USD is a 100% engulfing pattern and has hardly any upper shadow.

    It is also on a exhausted sideways market. Which means bears are giving up.

  2. So good to see LuckScout trading again!! I am so excited. I was one of the first to join back in 2015 and have been trading ever since.

    Question: Do you feel that the Daily candle is loosing a bit of its pattern strength? I know that you mentioned that the 4HR use to be a great candle to trade and over time it lost its validity. I have been seeing quite a few Daily too strong setups that just didnt move.

    Example:
    GBP/NDZ Daily 3/13/20 candle. Large spike outside the bollinger bands with the 3/13 confirmation on a sideways market.

    Thank you and good to see you back!

    1. Thank you 🙂
      Yes, many of the daily candlesticks on different markets’ daily charts are too choppy.
      The overall picture of GBP/NZD’s daily chart is like that too. So, we forget about it for now.

    1. So far the only strong and kinda holy grail setup formed in EurCad. It’s a very strong sell signal.

  3. Thank you for replying.

    Would you consider the Daily GPB/AUD high wave candles 3/16 – 3/20? I see that the market did not respect the indecision (yet).

    Also wanted to ask about the GBP/CAD weekly 3/8 candle. It is a too strong Bearish Engulfing outside the BB’s on a sideways market.

    Thanks again!

    1. You’re welcome.
      “High Wave” needs confirmation. I won’t consider any reversal signal on GBP/AUD market before this market reaches the 2.2399 resistance level.
      The 2020.03.08 weekly candlestick on GBP/CAD market is a too long candlestick which has broken below the middle band. When it is like that, again we should ignore the signal, because the market is already oversold. We have to wait for the market to form another reversal few candlesticks after this.

  4. Going onto a different pair

    EUR/CAD – showing a inside weekly stick at the moment with some very nice upper shadows on previous weeks and great bollinger band break. The daily is showing me a strong bull run and bulls are taking a rest for a future push up to the 1.60000 area for the true possible reversal.

    If this doesn’t happen then 1.7000 and 1.75000 is the next area to watch.

    Is this how your seeing it aswell?

  5. So happy to see luckscout’s analysis again. It ‘s been so long.
    Thank you John. Please convey my regard to Chris. Would he write again?
    Regina

  6. Gbpusd last candlestick closed higher (engulfed) the previous candlestick. The last audusd closed lower than previous candlestick.

  7. Chris,

    Can you comment on the USD/JPY weekly 3/8 candle? It appears that we have a reversal outside the BB with a long wick during a sideways market that happened on 104.60 support. Currently the MBB is holding tight, can you analyze this trade?

    1. The 2020.03.08 candle’s buy signal is strong. But the market has been moving sideways for such a long time. It doesn’t look liquid enough. So, the weekly signals are not valid.
      But if you check the monthly chart, you will see that it is still possible that it goes up and reaches the 125.848 resistance level. But no signal has formed there yet.

  8. Lot of traders around the world including big banks played their role in GBPUSD pairs and that why strong momentum did happen in GBPUSD pair to form engulfed candlestick and tell us that to this pair has strong trade setup than AUDUSD pair based on weekly time frame

  9. Audusd may not be a good reversal point of entry because, the market is not yet exhausted since we don’t have any nearby support, the bollinger bands upper and lower are not yet in squeeze, it is possible that the pair will test BMB before it continues in bearish trend however it will be showing the signs of exhaustion soon. Therefore we hold on patiently.

  10. Hi, my opinion about the setup for GBPUSD :
    The price is in a zone with a lot pullback in time, tested many times and resist.Also, the bears lose power,the container is empty, no more fuel.On weekly chart appears a BE, but we need 1 more bullish candle to be sure the bulls take the control.

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