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Scott Phillips: Very interesting EURUSD setup right now

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I’d like to offer a heartfelt thank you to everyone who bought the System Building Masterclass at launch yesterday.

If you bought, please go to my calendar and make a skype appointment, and we can have a chat about how we can get you up and running with the best system for YOU.

If you are on the fence and don’t know if the System Building Masterclass is for you feel free to book a call and we can talk about it.

Check out my Price Action Masterclass here

Daniel and I are diligently adding all the new content, yesterday we added a 5 video series on the Scalpius Mean Reversion System, which is extremely easy to trade and suitable for beginner traders. Today we add the instruction videos and code for the Standard Momentum System v2.0 which is awesome. Perhaps more awesome than anything yet.

What I’d like to show you now is a system trade that I’m taking right as we speak. This is a 4hr mechanical system trade.

Firstly what I’m looking for is a daily chart with the EMA’s “lined up” with blue line below the purple line below the red line. Like this in EURUSD right now.

 

 

Now this is just an objective way of saying “the market is probably trending”. It doesn’t mean it’s perfect, or that it’s not lagging, or that moving averages mean anything at all.

It’s just a no-arguments way of saying “the market is trending”. If those moving averages line up on the daily – look to short on the 4hr chart.

OK So at that point we are looking for the 4hr chart and three very specific things

1) We are looking for the same moving average configuration. Blue line below the purple line below the red line.

2) We are looking for a pullback, at least to the blue moving average.

3) And then a retest of that pullback (you know retests from the Price Action Masterclass here) which is an objective entry setup with black and white rules.

 

 

I’m willing to bet that this is easier than what 99% of you are doing now.

Instead of reading the news, pouring over blogs and twitter and agonising over charts… a simple set of rules.

Rules a drunken monkey could follow.

See setup. Take setup. Wash…rinse… repeat.

I can understand if you feel an instinctive revulsion to trading this way. After all, it’s not cinematic. You can’t brag about it on facebook.

It’s pretty boring to be honest.

I just placed this trade, and the charts are off now. They won’t be switched back on for another few hours, and then only for 5 minutes.

If you want to make money and not have fun, system trading is what every serious professional does.

Build a system, or borrow one of mine.

It’s a better way. Check out the System Building Masterclass HERE

Have a great day

Scott

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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