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We hope our readers in USA enjoyed a long weekend and the last vestiges of summer. We stayed at our computers on the off chance of something happening. Just as expected, nothing interesting took place. Seemed like Forex traders worldwide took a day away from trading. Good for everybody.
Markets were very slow to wake up from holiday nap. Took a few days before things started to move again. For all practical purposes it wasn't until Wednesday when markets sprung up back to life, and Friday was the day when we saw best moves of the week. News release in US, particularly the employment data. As it's been mentioned here many times, we don't trade fundamental news, but we want to be aware when they are announced and what they cover.
Our "Rainbow" service was effected by this slower then of late week. We had less trades and those that were executed, took very long time to trigger. Despite that and a loosing AUD-NZD trade to open up a week, service produced 133 pips profit in closed trades. We can live with that.
Our remaining services did good. "Daily Euro" gained 91 pips, also after a slow start. That is a nice result forn that system.
"Daily Pound" was also positive for the week.
To see the results trade by trade please follow the link below. |
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Here are the results we achieved last week:
- Rainbow made 133 pips in closed trades;
- Daily Pound gained 75 pips;
- Daily Euro earned 91 pips for the week;
Follow the link on the right to view details |
Last week's results. |
Time for a look at our "Trade of the week" from 09.02.07. Set up was to go short AUD-JPY at 93.55 with a target of 92.00. Trade didn't get executed until very late in the week, just few hours before market close. We decided to exit as we felt a little uneasy about leaving it open for the weekend. We took 24 pips loss.
For more about AUD-JPY scroll to the bottom of this page. |
Here is our "Trade of the week" from 08.26.07. We went LONG USD-CAD using daily charts. We gave ourself 1-2 months time frame for this trade. So far it's been 2 weeks and we are just above break even,
The lower chart is our latest trade we took. This one was SHORT EUR-CHF at 1.6420, with a target of 1.6370. Trade worked out very nicely, for 50 pips profit. |
| Trade of the week. |  |
Our trade of the week is AUD-JPY. Yes, again. We are taking another stab at this cross. We cut our previuos trade here short for the reasons mentioned earlier. Here we are placing a SELL order at 93.05 with a target of 92.00.
We wish everybody 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 .
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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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