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| Hello again!
Welcome back! We hope all our steady visitors had a chance to surf over the new web site and familiarize with the changes. We had some emails from people generally stating that the new site is an improvement.
Thank you for your comments and for taking the time to send them!
Now to business at hand. Last week was a relatively slow week for us. Dollar seems to be gathering strength and we think in general terms that will continue against the majors.
A little bit of explanation is necessary to understand the way we calculate and display results for our Rainbow system.
Currently we have 3 position opened and unresolved or as we call it "Pending".
Results for these positions will added to the week and month in when they are closed. For example,
our CHF-JPY positions results will be tabulated for the day the trade is closed. That way we don't have to go back in our tables to change results and leaving everybody scratching their heads. We strive to achieve transparency in our reporting.
Let's say this trade is unresolved next week, it will be reported as first in the column, with the date on which it was opened. The date will be from before the week reported.
We hope it makes sense and should improve understanding of the way we state results. |
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Here are the results we achieved last week:
- Rainbow made us 162 pips in closed trades;
- Daily Pound produced 24 pips;
- Daily Euro gained 31 pips for the week;
Follow the link on the right to view details. |
Last week's details. |
Discretionary trades.
There is not much to report as most of the trades we featured on these pages had been closed. There is on matter. We entered our EUR-AUD trade again at the same price as before 1.6975. We are seeking 1.7150 or higher. We think it might take up to 2 weeks for this trade to work out. |
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This week we'll take a closer look at AUD-NZD. It looks to us that a bottom is forming here. We believe this presents a high probability trade set up. We entered long at 1.1290 with a target of 1.1500.
Should the price reach our objective, there might be additional trade. We designate this trade as a "Long term". It's possible to see a big drawdown before we see our objective. We'd like to remind everybody that we use very little leverage for our discretionary and "Rainbow" trades, as opposed to other systems where leverage can be higher.
As always we'd like wish everybody good week and profitable trading!
See you next 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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