After the video was made I decided to makes something live that I have been testing, this is the new Signal Monitor, I have been monitoring the buy and sell signals to find the best currencies for buying and selling. So the system now gives a “top 10” for buying and a “top 10” for selling based on the signals it receives.
Traders can now go ahead and only trade those pairs that match the monitor, fore sample we have an AUDUSD trade I would NOT take because both AUD and USD are on the SELL side. However the CADCHF is worth taking because CHF is the strongest buy and CAD is 3rd in the sells.
CADCHF SELL means BUY CHF and SELL CAD. Matches the signal monitor!
FOMC last night was the usual explosion. Anyway – SilverTrader DID correctly predict a buy but unfortunately it was just impossible to trade due to the fact the market moved so fast!
I also discovered that my customers were placing their trades far too close to the congestion so I have built in a new “red box” that is a NO FLY ZONE for trades to make sure they don’t get caught out.
Here’s a sample
So here is today’s trading video.
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Look at the potential profit from this USDJPY sell if it happens, retracing back from last nights FOMC – thanks to SilverTrader my sell order is in a safe place, close enough to catch the fire, but far enough away to be safe.
Normally non-cross pairs (for beginners thats those that have USD in them) tend to move pretty much in the same direction as the dollar. But this morning GBPUSD is rallying whilst NZDUSD is bearish. I closed of my profitable SELL GBPUSD trades today there is GBP news coming in with Mark Carney joining the Bank of England. I’m listening to LBC 97.3 talk radio and they are discussing it.
I don’t think there will be any change in GBP interest rates on Thursday after what I’ve heard today but there are a lot of good feelings about this new BOE. USDJPY buy I’m in 65 pips this morning hoping to see if we hit the magic 100!
We have had two 3 white candle signals one after the other on the 5 minute chart but I have been in this trade for a few days.
NZDUSD is one of my more frustrating trade as it’s bullish and I have 2 bearish trades on 🙁 I just need a good bit of USD news to send it hurtling into profit as it is hanging around the same sort of price.
If you have any questions or comments like “Paul, you’re a prat USDJPY is gonna fall” that’s great. Please leave it in the comments box or in the questions comments page. Don’t forget to sign up for membership, I’ve got some exciting things on the way to help your trading.
Ok there is an opportunity for a sell forming on the MACD/BOLLINGER BAND setup. Details here
You can see that the trade has left the bollinger bands and the streams are about to cross (like Ghostbusters!), I would imagine this will end up back in the long term bearish channel that it’s been sitting for quite some time.
Sorry I’ve not been posting as much as normal but I’m unwell at the moment.
There is a sell opportunity forming on the hourly/4 hourly chart for EURGBP at the moment. The pair has moved away from the bollingers and the streams have crossed (sounds like Ghosbusters). Hopefully today will be positive for GBP. To be honest I’m not quite sure what has held EUR in this position.
Good morning readers. My plan today is to buy GBP on the dips. Although I am wary that there was talk of further QE this morning on the radio station I listen to, that won’t happen till July and if GBP sentiment continues to be positive after the higher GDP stats last week I would imagine that it will continue bullish for a while and the pressure for QE will be off the new Governor of the Bank of England.
Although everyone seems to be in trouble GBP seems to be in the least trouble at the moment. So I’m staying with buying the dips of GBPUSD today.
I’m looking to trade GPBJPY today buying on the dips there is news out later which should show the UK has avoided a triple dip recession, GBPJPY has been bullish for a while, so even if the news is bad, it should recover. Here is the daily chart I think to be honest it’s a bit early to buy and I will wait for a dip
Note it has been bullish for the last two months, we have fallen from 240. A small trade that got there could make thousands of dollars!
AUDUSD continues bearish target 1.013 . AUDJPY as well targets the magic 100.
Steering clear of EURUSD as both EUR and USD seem to be playing a game of bad data good speeches. So they are both as bad as each other. It seems both currencies emit bad data, whilst their speeches pretend everything is ok.
As far as I can see pretty much ALL the currencies are falling. It’s just finding the ones that are falling fastest.