Weekly Chart Trading Strategy: less than 20 mins a week!

In this Forex trading vlog, Etienne shares a weekly chart trading strategy in the Forex market. You'll learn to trade higher timeframe profitably and find out how reversal price action setups unfold on weekly chart trading. Vlog 645
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Chapters:
0:00 Start of the video
0:53 Weekly Chart Trading Process
3:04 Price Action Reversal Basics
5:16 Live Trade Example - USD/CAD
5:26 Identifying The Zones
6:47 Reversal Price Action Setups
9:27 Trade Entry
11:17 Managing Your Trade
16:43 Live Trade Example - GBP/USD
#tradingstrategy #forextrading #weeklychart
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// MUSIC
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// ABOUT ME
My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at.
// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
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[@danchanner7887]

Engulfing candles on USD pairs often retrace 30-60%. Rather than taking the fomo stop entry, go for a 50% retracement limit entry which will have a much higher RRR.

[@AssasynCounterExtrem]

And how would you set Stop-losses for that? 30% or 60%.

[@danchanner7887]

@@AssasynCounterExtrem no the SL would be a couple of pips above/below the engulfing candle.

[@aamersaeed1529]

But in this video why he is not doing that? even with pinbar candle we can wait for 50% retracement and then enter in the market to get higher RR.

[@MyMy-tv7fd]

VP at No Nonsense Forex also trades the USDCAD on the weekly, but he is still using his trend indicators, so he must be trading the non-ranges - if we could combine both it would be awesome

[@breannestahlman5953]

Thank You Etienne. So many learnings and videos to watch . . .

[@MilesPickens]

Great content. Thank you for this

[@brucesmith6868]

Thanks E good info

[@petsfunnyvideos2364]

More videos like this weekly live trade breakdown

[@bowiestar]

i like it - nice strategy - i modified and back tested it - looks good dude thanks

[@DesireToTRADE]

Always my pleasure! Anything I can teach you more about on KZbin?

[@bowiestar]

@@DesireToTRADE my biggest hurdles atm are - finding a mentor - finding a group to hang out with - finding a trading buddy - or even finding a job, so i can learn like a pro

[@bowiestar]

@@DesireToTRADE Hi dude, what does it mean when past candles change size? I was watching my exchange platform and noticed two past candles grew in the body. Only by a little bit, but i would think that once the candle is closed - the body shouldnt change size? thanks

[@ivanrusev4097]

Hi there, what pairs/stocks/indexes do you recommend trading this way (that are often in ranges)?

[@tradezinger1065]

Biggest takeaway is when you said that there is veeeery few people , if any, that is trading this time frame. And this brings fairly good opportunities if you have the patience.... or maybe you don't need to have patience, maybe you keep doing your daily trades and on top of that, allocate some money to these types of trades, like you said. I noticed that you didn't look at the fundamental news. Not looking at them is part of the strategy? or didn't you look at them to make the video short? I would definitely love to see more of these types of higher time frame strategies .... do you have one for the 4H chart? Great stuff Etienne, thank you very much. Cheers!

[@DesireToTRADE]

Yes, I agree with you! Personally, I don't look at fundamentals to make any trading decision outside of day trading. I think any news is already priced in the market and the moves aren't big enough to reverse a weekly chart for sure. I'll try to do more of those videos... here's one for the 4hr chart: kzbin.info/www/bejne/sGbTdYytq5yVgbs

[@tradezinger1065]

Hi @@DesireToTRADE thank you for your response. Understood... now, if my trading time frame is the 4H? is this big enough to consider the fundamentals priced in as well? Thank you for all your advice and the link to the 4H chart video! : )

[@koosvandermerwe8298]

How much of capital is risked on weekly timeframe?

[@nagibma]

Thank you Etienne for another great content. One question , What percentage of the account do you risk with this weekly strategy considering 3 to 12 weeks to get your win? Thank you.

[@DesireToTRADE]

You’d calculate your risk of ruin to know that. It also depends how much drawdown you’re willing to go through. Personally I keep it at 2% per trade because It’s a complement to my regular swing trading.

[@johngribble9210]

With trades running so long don't your profits get eaten up by swap charges?

[@ZaheerAhmed-ll2tm]

Hey I am in forex from last year i learn alot from ur videos but still i have no proper strategy. Can u help me which of ur course should i buy to become a consistant profitable?

[@DesireToTRADE]

I have a course to create your own profitable strategy. I think that'd be the best if you're already been learning about indicators, price action, etc. Details are here: www.desiretotrade.com/creating-your-own-profitable-strategy/

[@andrewmorris2820]

I worked at a very profitable prop house in NYC and they trade nothing less than daily and mostly take signals off the monthly charts. Avoid the noise and lure of trying to make a quick buck in short timeframes. Algos will eat you alive.

[@DesireToTRADE]

Thanks for sharing that perspective!