GBPCHF long surprise this morning.

 

So I was thinking STROBOT had gone slightly mad when he went long on GBPCHF this morning just before Sunday.

He took the long just before midnight on that green signal. Lo and behold  he was right even though I was scratching my head a bit as it did look like it was going to continue bearish!!!

The trade is now safe and moving forwards, STROBOT won’t trade again now till after 16:00 GMT because Mondays are trade setup day.

Here’s STROBOT’s currency strength chart which was really the driver for this trade along with Heiken Ashi.

Sterling as you can see is heading nicely up to our target @ 1.52340 or so.

http://www.strobot.co.uk

 

 

How I took a 114 pips Profit in 4 hours with SignalTrader Trading System

So yesterday I took 114 pips from GBPAUD. There was a nice open space and the pair had been bouncing along the white resistance line (detected by SignalTrader Trading System).

The order was entered at 1.84500 but Signaltrader Trading System moved it with the market until it turned up at 1.84308. The target set in below 1.85545 was reached in around 4 hours and TP’ed at which point it bounced off the white dotted target line – but that was fine as I was already closed.

 

So here is a sample trade setup.

Note that I’m looking for a wide trade target, I don’t put orders on pairs with no space to the white lotted line.

Note that the Daily/weekly trends are bullish so this move is against the overall trend that has put the pair down on the support line, SIgnalTrader Trading System will manage the entry price until such time as the pair does actually reverse, then it will manage the trade till either the Trader removes it or it achieves profit or stops out. If it stops out then it can stop out in profit as SignalTrader Trading System will move the stop loss behind the trade is it moves up. This means that you are only at risk for as long as it takes for the pair to get a safe distance into profit.

Find out more about this system:- http://www.iwanttobeaforextrader.com

 

DAY 14 – Orders on

Sunday night/Monday Morning

 

NZDUSD – Trend Bullish – 0.8153 BUY target 0.8186,0.8241,0.8330
GBPUSD – Trend Horizontal – Possible break to the downside failed, awaiting something….
GBPJPY –  Trend Bullish – 153.23 BUY order Target 153.79, 154.12, 154.67 as Friday did not trigger
EURJPY – Trend Horizontal – No trade As Friday
AUDUSD – Trend Bullish – 0.9227 BUY Target 0.292,0.9316 – ALREADY ACTIVATED entering hook phase looking for go @8AM UK time or thereabouts on market open added BUY @ 0.9209 the base of the hook
USDJPY – Trend Bearish – 96.93 SELL target 96.40,96.07,95.51
USDCHF – Trend Bullish – Not clear, double bottom need to see another movement
USDCAD – Trend Bullish – No trade possible break to the downside but not yet as Friday
EURGBP – Trend Horizontal – No trade Low ATR

How do I work these out? – I use the pro-act traders method – see the link above.

It is better to learn to fish, than just to be given fish……so this is the last day I will be posting my trades. Unless people ask for it.

Warning: These trades are my own calculation and are for educational purposes only. If you take them you do so at your own risk, it is your decision and you should do analysis for yourself.
AUSUSD triggered buy. Daily chart.
Hourly Chart (Note I switched to my RF1010 chart, there are not a lot of buyers at this time of day but that’s fine for me).
Look at the buy signal on the 10 minute chart.
Wide Open Spaces

EURO could be a disaster…

Well it seems only yesterday the words EURO and CRISIS were being used together to discuss the CYPRUS problem, well it’s the turn of Greece. I would imagine Greece will default tomorrow and this will cause a fall in the EURO. Unless Mr Draghi manages to pull something out of the hat.

The question is, will this cause a domino effect with other EU countries.

GBP is doing well with really good signs of recovery and the dollar following suit.

An interesting and volatile few days ahead I think.

My plan incidentally is to hold out and not enter EURUSD trades until after 9am this morning. If EUR GDP is negative then I’d like to get in on that move and take profit before DRAGHI & Interest rate decisions at 12:45 and 13:30 respectively.

Going against the flow this morning.

Interestingly, GBPJPY although it has high BUY market sentiment is falling. Yesterday I bought the run up and now we’re bearish, this could all change at 10:30 with the Bank of England speech.

AUDUSD buying is going on at 95% sentiment. BUt I think that is limited because at 13:30 we have USA GDP. I am expecting a rally from the dollar so I want to be well out of my AUDUSD buy’s before then.

Please leave your questions and comments, if you disagree with me that’s cool but please tell me about it! You can use the questions and comments link above.