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| Best Forex book of 2007! |
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| HELLO,
We hope everybody had a great 4th of July. Around these parts weather was simply perfect and the festivities continued well into the night. For once working odd hours, as we do, being the night owls, paid off, as the fireworks didn't bother us one bit.
As it turned out, and as we fully expected, there were no fireworks of any kind in the markets that day. Seemed like currency traders world wide took a day off and the next one, too. That turned out to be a pattern for the rest of the week with some choppy action over last couple of days.
Thankfully for us, we managed to take advantage of nice moves on Monday and that basically made our week.
"Rainbow" service made 229 pips in closed trades, that's including a rather large loosing trade in CAD-JPY later on. We go into the weekend with one new open position.
Our remaining services had a mixed weak. "Daily Pound" lost 11 pips while "Daily Euro" gained 38 pips. That's very typical when the prices behave as they did over last few days.
Follow the link below to see details of all our trades.
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Here are the results we achieved last week:
- Rainbow made 229 pips in closed trades;
- Daily Pound lost 11 pips;
- Daily Euro made 38 pips for the week;
Follow the link on the right to view details |
Last week's results.
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Here is a trade we featured here last week. We went long EUR-CAD using intermediate term charts. We excluded this trade from our "Rainbow" service, as we placed a lot of orders right at the open on Sunday. Regardless, we took this trade for the purpose of record keeping of this website. Trade is currently in loosing territory, but well within tolerance level. We stay in it and will likely increase our target to 1.4700. |
| Here is one of the number of trades in "Rainbow" service we took early in the week. We went Long EUR-USD at 1.3565 and in a few hours had a decent score of +61 pips. There were also trades in USD-CHF and USD-JPY at the same time and the same set up. |
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We are taking a look at AUD-USD for this coming week. We believe this pair is starting to show signs of weakness. We put a SELL order at 0.8533, with a Target of 0.8480. If that in fact is achieved, we will likely have more trades to the downside.
Have a great trading week! |  |
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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 . |
Risk disclaimer:
Substantial risk is involved. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets. Don't trade with money you can't afford to lose. Nothing in our website shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Trading involves high risks and you can lose a lot of money.
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