SignalTrader Trading System 5.6 update

 

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Example Trade

Look at the Gold Line on top of the Silver Line, this is Signal Trader indicating a reversal, then, down we come target the next white line down. – Incidentally you could leave the trade on until the end of the white line underneath the pair showing a retracement is going to come soon.

Video

 

 

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Morning Trade GBPJPY buy

 

SignalTrader Trading System is suggesting a buy GBPJPY Stop 170.630 entry 171.014 TP 172.224 Target 124.10 pips (nice!). We have UK news @ 9:28 which if could could trigger a retrace up. However GBP has a habit of rallying prior to news on the anticipation of retail traders which could nicely knock us up into safe trading with a 16 pip trailing stop.

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Update

I moved my stop back because of the small hook but it was in profit anyway it has now moved up and I’m 36 pips in profit. Will let you know where we close but I am still looking for 171.064

Trading Video 30th December 2013 – Trade Setups

Good morning Traders! Trading Video for this morning

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Trading Update

GBPNZD closed in profit all other orders cancelled on entry of GBPNZD sell.

EURUSD and USDJPY overnight

The dollar rallied against the JPY but did not reflect in other currencies. WARNING if you are long on EURUSD you may find when the markets open they reflect that rally. But anything could happen.

On the EURUSD topic I’m sitting tight this morning. EURUSD and GBPUSD rose yesterday but I am sure this is USD related and nothing to do with EUR / GBP. My feelings are that a move like this could retrace very fast back to price. Whatever happens I see no reason for either trade to be up this high at this stage. I wonder if on GBP news later we may see a slump back down to where the trade was. If not, it will go more bullish.

Possible causes for this up move against USD.

1. Boston  – that’s over
2. Gold
3. Banks pushing price up before a big $ buy
4. Because someone has gotten board of being in the bearish channel and wants a new one
5. Investors are looking for the 10 year bond auction later this session. Note perhaps the ECB have sold off dollars in a big way to get the most they can from this auction.

Technicals support the bullish move, but it just doesn’t feel right to me. So I’m going to give it a break today and trade USDJPY.

What is also strange to me is that news appears to be making hardly any difference to the direction the trade is going. Yesterday we had good USD news and bad EUR news, and the EUR rallied. It seems to me that whatever is causing this is some temporary thing. My feelings based that if a trade moves to fast away from price, it will reverse back to the price.

Perhaps it would help if I drew some more lines on my charts?