So we’ve been sitting in a GBPAUD long for 5 days, this morning it was 70 pips against us but just could not break through the support @1.81984 or so.
Then GBP news came and off we went, it broke straight through the first target at 1.82890 and is now in a small pull back.
As you can see GBP still has some room to go with my TP at 1.83731.
This is a robot trade in fact as all of these are, I am just highlighting what it did!
I have a 3 day old trade on GBPAUD long – so far in the last 24 hours it has dropped 50 pips bounced back into profit and then dropped 30 pips. (roughly)
We are expecting good unemployment data from the UK later in the week but my feelings are that we just hold this trade, This is the bottom of a very slow moving bullish trend, we are sitting above the 50ma and just below the 200ma dailies. The pair is making higher highs but it is very very very slow and boring.
Luckily STRobot the trading robot doesn’t mind that and so I’m leaving him in charge.
I did well yesterday with GBPAUD closed profit. I actually took about 80 pips from two trades yesterday USDCAD long and GBPAUD short. I still have a long robot order on GBPAUD but at the moment the pair have gone the other way over night but I do expect big bullish pin and move up as it did not achieve target.
Today we have EUR CPI later. The EUR is giving cause for concern with respect to inflation and interest rates. Thursday this week could see a dropping of interest rates down to a puny 0.1% (yes folks thats nearly 0).
You can see the SignalTrader Massive indictor is showing that NZDCHF is about to cross, I would expect a move up today you can see that NZD a month ago exactly bounced off of the 200 period daily moving average (YELLOW LINE).
So my stop is in at 0.75854 and my tp way up at 0.76754 for 68.2 pips the spread is 3.7 pips so not too bad.
I’m trading $1 a pip on this trade.
I have released a new video showing how I trade 40 currency pairs from one chart.
If you would like to get hold of the SignalTrader Forex Trading System please visit http://www.iwanttobeaforextrader.com – due to popular demand I decided to put it back on the market.
So I decided to close the AUDJPY made a small loss of 10 pips as the cross was a faker. Look however at GBPAUD crossing now, remember Friday last week I said about it crossing the 200 daily MA well it has an with a vengeance!
Waiting for 15:30 when the robot will analyse the market pairs and look for more trades but at the moment it’s Profit Profit Profit!
Trading the daily charts is actually a lot easier than trading 15 mins and looking for small amounts of pips in my humble opinion. Looking for the cross with the SignalTrader Trading System gives us an advantage. Oh and my GBPAUD trade, I can’t lose it. My stop has been moved inside the entry at 23 pips so I’m looking to go all the way now to 1.81860.
The currency meter is telling me to sell of USDCAD this morning so I took a DIAMOND sell trade (see manual SignalTrader users).
As you can see from this screen capture of the web interface of SignalTrader Trading System the CAD is very strong and the USD is only at 40, below 40 I like to trade but I’ll make an exception as the CAD has been strong all night.
Yesterday by the way one of my traders took 160 pips profit out of 6 trades!.
As you can see from this chart I have entered now it has broken the white dotted line with a target of the next white dotted line.
Have a great trading day!
http://www.iwanttobeaforextrader.com to get your hands on this software!
DailyForexTrader trading video.
10th January 2014
Well it’s yours and my favorites USD Non Farm Payrolls today which can swing one way or the other, the expectation is a drop from 175K to 165K but I’ve seen MASSIVE differences between expectation and outcome, in other news CAD at 13:30 could be useful for the USDCAD trade I’ve had hanging around for a few days.
Yesterday was pretty brilliant for me. EURUSD sell and GBPUSD sell netted some great profits with some amazing moves on news. I did stop out NZDUSD sell later in the day but I mad so much from EURUSD and GBPUSD I covered my losses massively. One of my trades TP’d out 100% profit because I forgot to increase it to my normal 2.5x target.
I do have a rule that I don’t put more into a losing trade. If it stops. it stops. I learned the hard way sadly.
Anyway EUR could be in a bad way today with the Greek crisis, if Greece defaults we could see EUR fall further.
Have a great day people, please leave questions or comments on the questions or comments page or comment on this blog post.
Don’t forget to join – I’m going to be doing some great members area stuff in the future.
What an amazing day yesterday. A couple of loss trades (closed early) when the USD decided it had had enough of hanging around the doldrums and rallied across the board.
I’m keeping a gentle eye on the EUR as well as Greece are approaching crisis status. I would imagine a continued BULLISH USD day. However my broker is showing sentiment against the dollar!!!
With FXStreet talking of a EURUSD decline to $1.29 I think it’s unlikely we’ll see any further retrace against the dollar. So I’m buying USD this morning and selling CAD and GBP – there is forecasted house price data at 8am but I don’t imagine this to be able to quash the moves from the EUR strengthening the USD.
However – if Greece do get their act together before the deadline we could see quite a reversal.
I’m working on a trade evaluator for the members area – I’ll get it out as soon as I have it done basically I want to be able to put a pair in the top of it and it to scan RSS feeds/twitter and gather data about the pair and then give minute by minute trading advice.
It’s a big job but I think will help us all get more profitable trades.
Any questions – please use the questions/comments tab at the top.