GBPCHF & GBPJPY shorts UK CPI @ 9:30

Ok I have trade setups now on GBPCHF and GBPJPY I’m into getting two trades out of each.

You can see that GBP is now pushing away from CHF (A) and that it bounced nicely off the top of the brearish trend (B), we have market participation and structure for the shorts – BUT we do have UK CPI @ 9:30, I would imagine the markets will use that as an excuse to force down to the bottom of the first trend.

GBPJPY has the same sort of story, yesterday (A) you can see the pair has bounced off the trend line and also that the software has drawn a white dot above the candle which is a sell signal. There’s not much of a trade before support but I’m thinking we are going right down to the bottom  of the trend. (B)

 

http://www.strobot.co.uk < find out how you can get charts like this!

 

Trading without Panicking. Or the flow of the Forex

The Forex works shifts. If you place a trade during the day GMT (EUR/USD session) it will pull back on you during the Asian session. If you place a trade in the Asian session, guess what, it will pul back on you in the EUR/USD session.

Thus, small traders regularly get stopped out overnight if their stops are too small.

The Problem with Stops

Stops are a problem. Sure, you don’t want to wipe out your account. But also you don’t want to have your stop so close that the pair cannot get a proper direction. STRobot for instance uses ATR + a moving average to calculate stops. This means the stop is appropriate for the mood of the market on that pair.

In this case check out the white dotted line, that is where STRobot and the SignalTrader Forex trading system would hold the stop.

 

To find out more about the SignalTrader Forex Trading System & STROBOT please http://www.strobot.co.uk < CLICK HERE

Interesting place on AUDCAD for a long.

I have a strobot long trade sitting on EURJPY in a long, nice and safe.

I have an entry order as well sitting on AUDCAD as well in a long – not a robot trade.

Here’s why.

On the daily chart you’ll see the price is heading towards the bounce point on the white line. It’s diverging from the bullish daily 200 period MA which means we could be in for a move up. You’ll see how when we move towards it we tend to rally up away from it. I don’t trade between the 200 daily ma and the white weighted pivot line.

So here on the 15 minute chart you can see how close we are to the bounce point.

 

 

 

More details of STROBOT and the SignalTrader Forex trading system.

http://www.iwanttobeaforextrader.com

 

 

Could be over 200 pips today?

I have had GBPCHF short order that SignalTrader Trading System is managing on since last night and SignalTrader Trading System has kept it out of the trade for now, there is CHF news in 9 minutes. So I’m hoping for a retracement.

 

Last night the FOMC news pushed the dollar bullish so I’m now looking for reversals on those as well. This is AUDUSD

and NZDUSD

..and here’s a note about the trading system, most of you will place your entry orders somewhere above price, SignalTrader Trading System actually will MOVE your entry order/stops to match the market, so when you get a break you are ready for it, but when the market is just ranging around you don’t have to worry.

Sometimes ofcourse we do get false breaks and get stopped out. But with SignalTrader Trading System it has a unique trailing stop system so that most of the time we don’t loose that much (if anything) and in fact if we have a losing trade it will stop out with a small profit.

http://www.iwanttobeaforextrader.com is the website for the SignalTrader Trading System. The Forex tool your brokers don’t want you to see.