 | Hi there,
As you might have noticed, there is another addition to our website,"SpectrumForex blog". It is updated daily. We make brief notes there but main feature of the blog is daily Pivot Points. We publish them for the following currency pairs:
EUR-USD, USD-JPY, GBP-USD, USD-CHF, EUR-JPY, GBP-JPY, USD-CAD and AUD-USD. It's just another tool in traders arsenal, for those who don't know how to calculate them. How can they be of use? Well, there are many ways. As the name implies, "Pivot point" is an expected reversal area. Being aware of this area a trader can monitor smaller time frames, like 15M or 5M and look for reversal patterns in these regions. Pivot Points can also be used as a breakout levels. Our research has indicated that when Pivot Point is violated, price has the tendency to move in that direction. As a matter of fact we are using "Pivot Points" in this manner in a few accounts where we trade some currency pairs automatically. By the way, they can be calculated for any time frame. If there are other crosses of interest to you not covered in our blog, let us know and we'll try to add them.
We had an average week, all three of our services recorded gains. "Rainbow" gained 226 pips in closed trades. We go into the weekend with two open positions. One of them is of concern at this moment, but as we indicated to our subscribers in a weekly summery, we expect the situation to be remedied soon.
"Daily Pound" registered 26 pips gain and "Daily Euro" had earned 29 pips. Follow the link provided to view trades details.
Also, as we do every other week, we updated pages covering annual performance including the graphs. That's where you can view trade by trade starting from beginning of the year. Next update of those pages will be in two weeks time. |
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Here are the results we achieved last week:
- Rainbow made us 226 pips in closed trades;
- Daily Pound earned 26 pips;
- Daily Euro gained 29 pips for the week;
Follow the link on the right to view details |
Last week's results. |
| Last week we featured a possible trade in EUR-USD. We wanted to SELL at 1.3060 with a target of 1.2980. As you can see from the inclosed chart, price moved swiftly in opposite direction and trade didn't happen. Not much more to add, really. |
For next week we are taking a closer look at GBP-JPY. We see a possible trade to the down side here with an entry at 226.05, seeking 224.80. A prior move above 228.20 would make this trade invalid until farther price development.
On this note we wish everybody a great trading week! |  |
Once again we must stress that the trades highlighted here are only a small sample of our trades. If you have any comments or would like to obtain more information please contact us at info@spectrumforex.com . |
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