In the legal profession, lawyers and advocates are always guided by one major ethical code throughout their practice, whether in the courts or their outdoor legal engagements; they must never disclose or discuss details shared to them by their clients in confidence with outside parties. This practice is commonly referred to as ‘The Rule of Confidentiality.’ With this code of practice, any details shared by a lawyer in a court of law that was disclosed to them in confidence by their clients is dismissible and can be rendered futile by the presiding judge/advocate. This rule holds grounds throughout their practice unless the courts or the Law otherwise demands or provides grounds strong enough to necessitate the lawyer/advocate to disclose such confidential information.

That’s too much legal talk for a Forex & CFD’s trading article, right? All this will make total sense in a moment. Let’s call it ‘the preempting before the sentence.’

The rule of information confidentiality applies equally for the esteemed medical profession. No doctor or medical practitioner is allowed to discuss their patients’ diagnosis and treatment status with their colleagues or spouses. The ‘Confidentiality Rule’ holds grounds and guides their professional practice, the same way as the legal profession.It is with this resonance that as professional Forex and CFD’s traders, we must as well uphold this healthy code of ethical practice when going about our trading activities, and to stay truthful to the Rule of Confidentiality. Never at any point and time should a trader share or make public their open/running trades to their friends or to the public. The fact that isn’t an oversight body to keep us in-check in our adherence to this rule must be our very reason to develop self-engraved discipline if we are to achieve meaningful and long term trading success. There are very few professions, not even the legal nor the medical profession, where the rule of confidentiality has ever been so imperative to the welfare and value-based performance than in the trading business. The ability to develop strong self-restraint and discipline among traders cannot be overstated. This principle falls on the significance of upholding the right trading psychology as a strategic ingredient in achieving long term successful trading.

The main reasoning behind this rule is that once a trader makes their trades known to their peers or to the public, or any other party for that matter, (even worse to their spouses) is that it invites the emotional burden of ego and pride, driven by the desire ‘to be right’. Human beings possess an inborn urge to be right. Over the years, society has condemned failure and losses as if they define your ultimate destiny. On the contrary, it is the challenges, failures, and losses we encounter in life that grow our resilience and grit to break free and make a mark in achieving success. As a rule of the thumb, anyone who doesn’t experience failure or losses, whether in trading or in life, is either not trying at all or not doing enough, and is therefore self-limiting.

At Fourthstreet Consultants, we don’t discuss or publicize our live trades. This only causes one to grow the ‘need’ to convince the other party of how ‘right’ they were. Consequently, this mounts their ego and clouds their judgment, thereby distorting their actions, which ultimately leads to costly mistakes. Mistakes that could easily be avoided by keeping calm, and strictly following your trading plan to guide all your actions in the markets.

It’s okay to share trading ideas and thoughts as that shows one’s command and understanding of their trading business, but no trader should ever make their personal open trades public, unless one is doing it purely for educational purposes only. 

For instance, Module (III) of our comprehensive Forex course covers a full three months of live trading. We took our time to record every trade we took live on the market charts for our trainees/traders, recording both the losing and the winning trades. We adopted this approach because there’s no better way of teaching than illustrating live. Every trainer must demonstrate their craft or skills live to their students. Otherwise how can you teach that which you can’t practice? The recorded live trading sessions, together with the test of the Forex trading course educational content is only accessible to our members who sign up for our Online course.

The goal was to illustrate and teach our traders that losses are part of the trading business, the same way you cannot avoid losses in life or in any other ‘real’ business. You can only control and keep the losses small, while locking in big profitable trades. At the end of the three months of our live trading as is covered in our Online Forex course, (which is essentially a quarter of a year) we made a great deal of net profit, even with the few losses we encountered factored in.

Lesson of the day; whether you’re a novice or an experienced trader, strive to develop the discipline of ‘not disclosing your open trades,’ keep them private. In case you get the urge to talk about them, it’s advised you write them down in your trading journal to keep track of your progress and performance. Otherwise they will dent your ego and confidence in your trading system, especially if your trades end up as losers.

Joshua Matumo,

Founder, Fourthstreet Consultants.


This pair is currently trading within a descending channel whereby price has been resisted by the channel’s resistance, evident by the presence of a bearish engulfing.


The engulfing shows potential reversal around the resistance having engulfed a couple of candlesticks. Look for price action confirmation on the lower time frames to join the downtrend. Lack of bearish confirmation may result in a rally back to the upper boundary of channel.

Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.


The pair is currently trading within a major support zone and a long term trend line which matches up as resistance. Prices are currently at the support zone.


This week we shall be looking for reversal buy signals in the lower time frames of daily and 4 hour, or otherwise, as price action directs.

Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.


Bulls have been driving the price to the moon on the weekly chart of the Euro versus the Australian Dollar for the last 14 months but they assumed renewed vigor since February this year. Four weeks ago a predominant pin bar doubling as a mother candlestick formed which was the genesis of lower prices. As expected following a pin bar of that magnitude price moved further lower forming inside bars. Then a breakout candlestick occurred confirming the inside bars for continuation of the downtrend.


We may be looking at the early stages of a retracement in the larger uptrend or a complete reversal only time will tell which is which. Price may possibly halt at the near term resistance level, therefore continue monitoring your charts for opportunities to join in the impending price moves.


Focusing on the unending uptrend of the Gold versus the Euro on the daily time frame which has persisted for 16 months and resulted in the formation of an inverse head and shoulder pattern in the past 6 weeks. This pattern is a potential signal for higher prices provided it breaks out on the upside which it did in fact with a reversal candlestick pattern at the neckline signalling a retest. Price is however at a very significant price level which has been a resistance zone in the past.


In as much as we have high probability bullish signals, take utmost caution since price is at a resistance zone and a major one. Further price action as always will ultimately guide us on the right path to follow.

Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.


Since the month of December last year a bear market ensued on the Euro versus the Japanese Yen which is clearly seen by the descending price channel that has formed since then. Price has respected the resistance and support levels of the channel to the tee. Safe to say that the main trend is a downtrend. Last week’s candlestick was bearish closing off at the support level.


While the market is trading within the channel we should be patiently waiting for a breakout and follow price in that direction. The breakout may happen on either side of the channel therefore let’s be vigilant and avoid getting caught up in predicting the market movements before the breakout happens.


Examining the weekly chart of the British dollar versus the New Zealand dollar which has been on an uptrend for the past 10 months, we can see that the trend up has entered a new phase. An ascending triangle formed which broke out above the pattern. A breakout on the upside of a pattern within an uptrend is a strong signal as it’s in line with the current trend.


In addition to the breakout we also have a weekly confirmation candle. The resistance of the pattern also coincides with a major level. Therefore we have a breakout out of a major level as well as a chart pattern. That’s an example of a trading confluence. As further price action guides us on the bull market, watch for the ideal areas to join the trend in case you missed an earlier entry.

Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.


For the past year the New Zealand Dollar versus the Canadian Dollar has been on a steep downtrend with one major retracement visible on the weekly time frame. Price was recently at our major level which has been acting as our support zone. In the previous week price was supported and a dominant bullish candlestick was formed.


A bullish engulfing is a potential  reversal candlestick formation, however we can see that we have a resistance zone as our trend line a few pips away from the current price level. Further price action will ultimately guide as whether a complete reversal of the downtrend is imminent. A breakout above the resistance zone would increase the probability of a reversal.


One year ago the bear market on the US Dollar versus the Swiss Franc began. The gradient of the slope is gentle which informs us the strength of the downtrend is medium-weak. Last week as price approached the resistance zone, sellers pushed the price down quite aggressively forming a bearish engulfing. This is a significant occurrence since it’s happening at a price boundary.


Our main trend is bearish and a potential reversal signal towards the downside has appeared. The next action seems laid out already. However, it is important to let price action further guide you. A look at a lower time frame will be ideal to guide your next course of action.

Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

I have heard that nothing gives a writer so much pleasure than when his works have been quoted and applied by the readers. On this particular evening, I find myself in a deep conversation with an old friend.

‘You should write a book’ she exclaimed, commenting about my last article; Three reasons why you must learn an online skill

I cleverly rubbed that part off, because a book and an article are two different animals. The conversation turned to forex trading, and said that she would love to start online Forex trading as a side ‘hustle’. 

“Not a hustle, it’s Forex trading as a side business”, I quickly interject. Because I personally don’t relate too well with the term ‘hustle’, same way I don’t like being ‘busy’. (Story for another day). I promised her that I would write more, but not a book yet, for her and other people who want to get into forex trading, but it would be up to them to redefine what they need from it. But I also told her that there’s simply no excuse, no fear too insurmountable, for not acting on it if it is what she wants to do, regardless of her schedule.

So this here is a piece for you, Freya, and for everyone who, like her, have busy daily schedules, whether in employment or entrepreneurship, and your only reason for not starting Forex trading as a side business is that you feel there isn’t enough time in your days yet.

The common analogy that most people with a day job, or busy daily schedules hold is one of a lack of time to trade, and to sit in front of a computer watching markets all day. Most people think that they have to watch the markets from their computers all day to be traders, which is simply not true. You don’t have to sit in front of a computer all day to trade and make returns. I, for instance, don’t stay fixated on the screens the whole day. As a matter of fact, it is unhealthy for trading, and has negative effects on the trading results, as I will explain later on. I am a trader, a consultant, and an entrepreneur, I have busy working schedules. Today, in this article, I will share with you my personal approach to trading, a significant strategy that allows me to maximize from trading the forex markets, and at the same time freeing up my day to take care of other business affairs. It’s called the END OF DAY TRADING. You get to keep your day job, run your daily business errands, and maximize from trading the forex markets. Working smart, as opposed to ‘being busy.’ Let’s get into it already, shall we?

Normally, the Forex markets have various timeframes, which gives traders the freedom to choose particular time-frames that fit the nature of their schedules and trading plan. Day traders may choose to analyze the charts and look for price action trading patterns using the 30 minutes and the hourly time-frame. In the same manner, The practice of end of day trading requires a trader to check through the various pairs on their watch list, i.e. the currency pairs that they choose to trade, and analyze the forex charts for clearly marked out price action patterns that may be available to trade using the ‘Daily Time frame’. What this means is that for End of Day traders like myself, we only open our laptops to look out for clearly marked out price action trading opportunities at the close of the day, i.e. around 11pm, just before jumping into the next day.

With this trading approach, I only need about 30 minutes to screen through my currency pairs, (because I already know what I am looking for). In case I find nice setups that offer me a good Risk to Reward ratio, I then set up my stop loss and take profits targets as guided by my trading plan. Once all parameters are set, I execute the trade(s) and close up my laptop for the markets to do the work.

I know it sounds simple, but ideally, that’s how it should be. That’s how most of life’s missions should be, if only we checked our attitude and committed to learning instead of trying to cheat the process and be heroes. Anyone out there trying to complicate trading by clustering their charts, timeframes, and complicated trading approaches is only prolonging their journey to attaining meaningful success and consistency in making money from the markets. For new traders or anyone reading this piece and you’re totally green to trading, worry not for our online comprehensive course that comes with one on one consultations/mentorship polishes you on all the aforementioned pillars of trading, ranging from Price action patterns/signals/ market analysis, risk management, trades execution and management, amongst other integral topics and principles of successful Forex trading. For new traders, I covered what it takes to be a profitable trader consistently and for the long-term in a recent article that we published on our blog. You can catch up on it right here.

All I am left to do is to open my laptop/android phone the following day to check on the progress of my trades that I set up the previous night. At this point, I am not looking for other trading opportunities/setups, which means 5 minutes or less are enough to check that all is running well with my trades. Timewise, I am totally free to run other errands, and in the case of those with day jobs, your work is already done as far as trading is concerned. You would only need to spend about 10 minutes or less, for a maximum of twice a day to check on the progress of your trades. That is if your price targets are close to being hit, or have already been hit, which would mean that you have banked some profits for the day. 

Other times, a trade might take a little longer to hit your price targets, maybe an additional day or two, which is fine as long as the trade is going in your direction. This is the real definition of professional trading, i.e. approaching trading as a business . Our sole goal as traders, which is how we approach trading, and our training our traders at Fourthstreet Consultants, is to make money, as opposed to ‘making a lot of trades.’ Big difference.

Interestingly, unlike what most new traders think that day trading and executing too many trades in a day equals profitable trading, this particular approach of trading has all the benefits, and has been proven to greatly improve trading results and simplify the entire trading process. I have marked out three ways as to how End of day trading using end of day price action trading affirmations/patterns stands out as the best approach to trading & will ultimately improve your results, even for existing traders;

1. Eliminates Overtrading

One of the biggest predicament for both new and experienced traders is overtrading, and the ability to overcome it thereof. The urge to constantly check through the markets arouses the excitement and the greed to open more illogical trades, sometimes due to the mere sense of boredom, resulting in overtrading. Money in Forex trading is made by sitting, not by trading. Take a second to ponder on that point. Contrary to the common economic concept of more input equals more output that applies in other businesses, less is more in trading.

 A trader that picks only four of the best price action trades in a month with a proper Risk to reward ratio (say 1:3), for instance, stands to make a great deal of profits compared to a trader who executes 20 random trades (scalping) out of fear and greed, that in most cases have very low or even negative risk to reward ratio. This is the logic behind practicing end of day trading. It helps traders to avoid falling into the temptation of overtrading by constantly checking through open market charts. Once you set up your trades at the end of the day, you forget them and let the market do the hard work. You avoid overtrading which is one of the main downfalls for most traders.

2. Proper Trading Psychology

You have probably heard that adopting the right trading psychology contributes to more than 40% of one’s trading success. From the word go, you’ve got to have the right expectations about the markets. For instance, understand that losses are part of the business, the same way no business out there doesn’t encounter its streams of losses from time to time. Your job as a trader, therefore, is to manage losses and keep them small, as opposed to trying to avoid them. By adopting the End of Day trading approach, you only get to set up your trades at the close of day, and leave them to work out. Consequently, you are able to detach yourself, and basically your emotions from your running trades. It is an easier way to manage your emotions and grow a strong trading psychology that enriches your trading skills and results thereof. We call it the ‘set and forget’ approach, whereby you follow your trading plan in choosing the best trades, and once they are executed, you exit the charts and let the market do the hard work. You only check on how your trades are performing at long intervals of say 5 hours or so. Easy, calm, and collected.

3. Keep Your Day Job/ More free-time

It goes without saying that adopting end of day trading allows you to comfortably keep your day job, while adding another source of revenue in your bucket. For those trading full time, they are able to free their day time for other engagements such as doing market research, back-testing more trading strategies, engaging in other business ventures, and spending time with family. This is how I am able to trade and attend to other calls of business and varied life commitments. With this incitement, No one has any excuse whatsoever for not learning an online skill such as trading the markets, to create an additional source of revenue, especially in the current internet world of information overflow. Convenience is the real value in the current day, and the future. This is the very awakening that inspired us to put forth a comprehensive Forex course that is online-based, making it available for everyone on our website for easier and flexible accessibility. Basically, you have no excuse for a lack of growth, only a call of action and commitment awaits you. Good luck!


Exactly 4 weeks ago in the month of February we covered this pair where there was a descending triangle which was on the brink of a breakout with price at the resistance zone of the pattern. Forex 101 suggests that descending triangle patterns do breakout on the downside. Well just like there are no guarantees  in life neither are there any in the Forex market. Price broke out on the upside which was one of the possibilities we discussed 4 weeks ago.


Price did indeed breakout and the uptrend continued at a higher velocity denoted by the steep gradient of the slope. Pay close attention to the market as price is at a major resistance level. Patience is needed as further price action will guide you on whether to follow price after it has either reversed or broken through the resistance level.


After an extended period of a bull market which began 3 years ago, bulls have accelerated the uptrend in recent weeks. During the week that just ended we see a prominent pin bar/shooting star candlestick on the weekly time frame. However zooming in to the daily time frame which is our time frame of choice on this episode of our weekly analysis, we can see a candlestick pattern comprising of a mother candlestick and a set of inside bars. The latter are a potential continuation signal.


It is common knowledge that a pin bar is a potential reversal signal nevertheless we see a different scenario on the daily time frame where we find evidence that the market might be on a small pause before carrying on with higher prices due to the occurrence of inside bars. Price action confirmation is key for either higher or lower prices. This would come after a breakout below the low of the mother candle which would indicate possible lower prices to come and vice versa is true.

Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.


Scanning the daily time frame of Gold versus the US Dollar, we are made aware of a double top occurring at the top of a mean uptrend. Bulls have been on a tear on this commodity for 2 years. A double top is a potential bearish signal which in this case price may either reverse completely and be the beginning of a new trend or may be the start of a counter trend before the main trend ensues. Your analysis and time will guide you on which course of action to follow on the bearish move, whether the former or the latter.


Coming after the breakout we have to see our confirmation entry signal before we can open any position.Therefore continue to monitor this pair as we await further price action. 


Following up on this pair that we analyzed at the beginning of the month of March,our pattern was a double top that had made a weekly breakout. Our bias was that there’s a very high probability that sellers would take price lower. True to our analysis price fell into a waterfall moving for about 600 pips before hitting a bottom and forming weekly pin bar.


Following up on this pair that we analyzed at the beginning of the month of March, our pattern was a double top that had made a weekly breakout. Our bias was that there’s a very high probability that sellers would take price lower. True to our analysis price fell into a waterfall moving for about 600 pips before hitting a bottom and forming weekly pin bar.

Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.


Viewing the Euro versus the Australian Dollar on the weekly time frame brings us to one of the most common candlesticks we know as price action traders. A pin bar at the top of a an uptrend that has been ongoing for the past 3 years. Furthermore the pin bar comes after a gap up; knowing that some gaps are usually filled, is this a potential signal of a reversal or a minor retracement before price continues higher? 


Price action will guide us to know when and whether we should be waiting for opportunities to short sell the market. Keep in mind that selling at this point is a high risk trade especially with no confirmation candle in sight yet since the trend is an uptrend. Therefore we wait to see whether there’ll be a confirmation candle which can be done on a lower time frame.We monitor this market closely and act when there’s enough evidence and reason to.


During the month of October 2019 we looked at a potential break out of a symmetrical triangle on the weekly chart of the Canadian Dollar versus the Swiss Franc. It turned out that the breakout was a false one and price quickly reversed back into the pattern and went lower, retraced for a few weeks and later broke out below the triangle. Bears have shown great control and dominance in the trend lower as it’s a strong downtrend.


It’s very evident that we’re currently in a downtrend, is it coming to end? Or do sellers still have the power the price push further down? Additional price action will guide us accordingly to know whether we look for opportunities to join the trend in case we missed it or wait to see whether there’s a chance that a trend reversal is on the horizon.

Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.