Weekly Forex Review – 13th to the 17th of November

Welcome to another edition of the Weekly Forex Outlook and Review, this edition this week for the 13th to the 17th of November Forex Market. Aspects covered in the video review include evaluating how price action moved last week on multiple markets as well as highlighting potential trading areas ( areas to look for evidence and a potential opportunity ), management point areas and target areas.

Both high probability trend and counter trend areas highlighted this week in the review.

Pairs and Markets Analysed this Week: EURUSD ( 4 Hour ), GBPUSD, AUDUSD ( 4 Hour ), NZDUSD ( 4 Hour ), USDCHF, USDJPY, EURCAD, EURJPY ( 4 Hour ) and Gold ( 4 Hour ).

For economic events this week click here.

 
Above Video – Weekly Forex Outlook and Review for the 13th to the 17th of November Forex Market

Are You Looking for an Effective Trading Strategy?

If so, then I highly recommend checking out our Forex Training Page. On that page are four current Training Series available. The Engulfing Trader Series for important high probability trading training, The 5 Day Trend Training Series for trend trading training and the more recent training release called The Candlestick Training Series for multiple candlestick trading and evaluating potential reward.

For more details on all the Training Series available at Forex Reviews click here.

eurusd 4 hour bearish evidence trading area

Above – Highlighting on EURUSD a great area on this market to look for bearish evidence and a potential move to the downside from this area. That area is the 1.17 zone area on this market.

nzdusd 4 hour trading areas 13th of november review

Above – Highlighting on NZDUSD the 0.7057 zone area as a potential target area to the upside for those holding a buy position on this market as well as a great area to look for bearish evidence and a potential move to the downside from this area. Also, if this market pulls back and retests the 0.6870 zone area again this week, this is still a great area on this market to look for bullish evidence and a potential move to the upside from this area.

usdjpy daily target area and bullish evidence area

Above – Highlighting on USDJPY a potential long term target area to the downside for those holding a sell position on this market, as well as a great area to look for bullish evidence and a potential move to the upside from this area.

gold 4 hour bullish evidence area

Above – Highlighting on Gold the 1267 zone area as a great area on this market to look for bullish evidence if the market retests this area again this week and a potential move to the upside from this area.

The 1267 zone area is an area on this market that has acted as strong support multiple times in the recent past on this market.

Midweek Forex Reviews

Come back and check below for potential upcoming Midweek Reviews ( video or comment updates ) in the week ahead.
Have a great trading week and happy trading!

About Timon Weller

Timon Weller is the professional Writer and Trader behind the blog Forex Reviews. Timon Weller is also a professional Teacher of Price Action Trading and creator of the popular Training Series teaching people how to trade Price Action effectively called The Engulfing Trader. For other Forex Training available here at Forex Reviews click here.

For more on Timon Weller Click Here. To Learn more about How to Trade the Market and get updates Click Here.

Comments

  1. Muhammad Ashraf says:

    Hi, great work, great teacher.
    GOD bless you.

  2. Thanks Timon for your review.

    In answer to your question I have been trading for about 18 months of which half of that has been with a live account.
    I have had a bad last few weeks where I believe I have been not disciplined enough with my trading and being too eager to enter trades
    without waiting for enough consolidation of evidence.

    I am hoping I can turn that around.

    • You’re welcome David.
      Thanks for sharing how long you have been trading.
      Oh okay, sounds like you were entering too early on some recent trades at important zones.
      What I would suggest is if you have not already done so already is writing down your trading plan and having near your trading desk.

      Also, make sure that you are evaluating risk to reward to make sure reward potential is much more than the risk before considering an entry in the market. I suggest traders make sure that more than a 2 to 1 reward to risk exists on setup if a higher time frame setup and if a lower time frame setup below the 4 hour that more than a 4 to 1 reward to risk potential exists on setup before considering.
      This is important for covering some losses along the way while following a trading process.
      Regards,

  3. Miss Reese says:

    Hi Timon,
    Been trading for around 3 years now and over 1 year following your market reviews. Not quite as profitable as I want to be, still lots of losing trades even after following your training series.

    • Hey Miss Reese,
      Thanks for sharing your trading journey so far.
      Probability depends on a number of factors, what time frame you are trading ( higher time frame, higher probability than lower time frames ), how strict a money management process you are using and what type of trading zone you are trading ( trend based or counter trend ).
      With that being said, getting some losing trades is part of any trading process, even high probability trading methods.

      What I would suggest is to make sure that you are evaluating risk to reward to make sure reward potential is much more than the risk before considering an entry in the market. I suggest traders make sure that more than a 2 to 1 reward to risk exists on setup if a higher time frame setup ( 4 hour or above ) and if a lower time frame setup below the 4 hour that more than a 4 to 1 reward to risk potential exists on setup before considering. This is important for covering some losses along the way while following a trading process.
      Regards,

      • Ali Senejani says:

        Very true Timon. I only started making profits after 2 years when I started following your 2% risk rule and the 2 to 1 reward to risk guidelines….
        The training series you offer are great strategies but if none of the above are followed then it is very easy to blow an account and lose control over the trades in the long term.
        Thanks for your great help as I have started seeing profits in my account now.

      • Miss Reese says:

        Hi Timon

        Thanks for your very useful comments.Just recently changed to only trade Daily or H4 time frames, with the focus on trend based trades.
        I am revisiting your Engulfing and trend trading series lessons again. Arguable the biggest downfall to my loosing trades is risk to reward.

        Its a steep learning curve and yes losses are part of the learning process so we keep a positive mind-set and fine tune the trading strategy.

        Thanks again for your weekly market insights it is very informative.

        R

  4. Thanks Timon !!!! I love your Forex update. I have been following you for over a year.

  5. Hey Timon – another great weekly review – I”ve been trading for over 5 years, and would say that the last 2 have been more consistent. Have a great week!

  6. Hello Mr Timon,
    I’ve been trading for about 3-4 months now… i think i’ve been doing poorly mainly due to weak money management, lack of discipline and probably experience. Been following you since 1-2 months ago. I love your weekly updates and videos, keep up the good work, its really helping me as a new trader…

    • Thanks for feedback Omar.
      Yeah, money management is an important aspect in trading. What I would suggest is if you have not already done so already is writing down your trading plan ( which includes money management rules ).
      Have a great week!

  7. Marc Nicque says:

    Hello Timon,
    I have been trading almost 2 years now, with no success, following the idea stream on tradingview.
    Like I mention before I was slowly loosing money. Since I bought your Engulfing Series, I start to recover some losses.
    I’m trading only at the end of the day now and place the trade with success. Aud/nzd was the last trade, and still running.

  8. Thanx for everything Tim
    A little over a year now………..Still in learning phase, The Candlestick Series really helped me a lot.

  9. Hi Timon, in answer to your question I have been trading forex on and off for several years. Mixed success, mainly losses, with different strategies until I did your training. Opened a demo account and tried for 6 months, all good, so have been trading live again (cautiously) for one month – 4 wins out of 5 trades! Thank you for your help and weekly info sessions, all adds to understanding and confidence.
    Cheers!

  10. Thanks for an other great review and to answer your Q been trading for 3 years and the same watching your reviews thanks again Andrew.

  11. Hi Timon
    I started trading 3 years ago. I paid heavily for training with another company. I later bought 2 of your series. It’s been an on and off journey. I’m still evolving. Most of the material I have read now makes sense to me as I step back occasionally to review my performance. For example: money management is critical. Demo trading is critical. Having a specific strategy is critical. Testing your strategy and knowing its success rate (on demo) is critical. Knowing the time frames that suit your strategy is critical. Knowing the type of trader you are, is critical ( swing, day, scalper, etc) and lastly, keeping an eye on the news and how to manage your trades in the context of big moves is also important. Now having said all that…it’s like… If I truly want to be successful at trading…I now have to go back to demo trading, and prove what I’ve learnt, before coming back live….lastly…I notice it’s best to demo trade an account size you can truly afford to trade live, so that when you go live, its like a repetition of the same thing you did with the demo, not something less. Well, sorry this has been so long.

  12. Ali Senejani says:

    Hi Timon. Great review. EURJPY did very well from last week. EURCAD is also performing well from that support zone….

  13. Hi Timon.
    Thanks for another great review. In answer to your question, I have been trading the IC Markets demo for quite some time now. I am winning most of my trades, but I am not trading consistent enough to go live yet and start trading with real money. I feel once I am generating profits for at least 3 months consistently, I will go live. Would be great to get some feedback from you on this.

    • You’re welcome Shane, thanks for the feedback.
      Yes, I suggest this as well, it is the preferred sequence.
      Make sure the trades you are considering offer more reward than the risk. I suggest traders make sure that more than a 2 to 1 reward to risk exists on setup if a higher time frame setup ( 4 hour or above ) and if a lower time frame setup below the 4 hour that more than a 4 to 1 reward to risk potential exists on setup before considering. This is important for covering some losses along the way while following a trading process.
      Regards,

  14. Hi Timon,

    great review once more. I have just recently bought the engulfing trader series after being fed up with all the indicators on my screen and feeling lost in the woods by all the information provided.

    I am trading since 2017 and have yet to make profit, i do well on my Demo accounts but i guess i jumped in too early with a Live account.

    Just to let you know, i have made my own technical analyses and aside from a few pips, my structures lined up perfectly with yours for this week:)
    I have been in great profit so far this week:D! Cannot be happier, but i am sticking to my trading plan and try not to get too excited.
    I took a buy trade on the EURNZD on 1.67690 just after the railroad pattern on 10th of November and it still going strong up to the next structure,

    I took another trade with the EURJPY at 1.32475 (after the engulfing bullish candle near structure) and again, that one is still running!

    I like your videos and trading education, i will try to take it all in and study hard every day!

    Hope your doing well;)

    Grtz!

    • Hey Jeremy, thanks for getting access to The Engulfing Trader and for the feedback!
      Thanks for sharing your trading journey so far, sounds like your trading has gone through a transition period from the old methods you used to trade ( indicator based ), however is now improving and getting closer to the process.
      Yeah I am good, thanks mate, hope you and your family are well as well.
      Regards,

  15. Thanks Timon for your insight on EURCAD.
    I made a nice profitable buy trade yesterday and it closed out last night on the projected resistance zone.

    • You’re welcome David!
      Glad to hear you benefited from that recent bullish move on that market from the important zone area.
      That market was one of the great performers this week.. 🙂
      Regards,

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