Hello everybody! Another week is over in the Forex pit. Dollar continued to weaken, gold is making new high and gasoline price is off the charts. People are talking about some "good all days" which I don't understand because people ALWAYS have something to complain about.
Speaking of which we must clarify an issue of our performance results. As we stated in our last week's comments, we are in a partnership with http://www.fx-auto.com
This company offers integration of our signals into an automatic, hands off trading experience. Farther more http://www.fx-auto.com also acts as a third party tracker of our results. As we mentioned last week there is a performance results discrepancy for the month of April as reported by us and http://www.fx-auto.com
The reason is that we started our cooperation in mid April so they followed our results for not entire month. In May this will be avoided as the tracking will cover whole month. We hope this explains it. By the way, we only trade System 1 with http://www.fx-auto.com
So what happened last week?
System 1 lost 20 pips, started May at -20 pips and is +242 pips for the year. Follow this link for all the details.
System 2 made 21 pips, is +21 pips for May and +267 pips in 2006. To view the trades go here.
Discretionary trades. First of all let's look at the trade we initiated last week, which was USD-CHF. Currently we are at a loss for about 140 pips. We continue holding this position and our target remains 1.2900. See the snap shot.
Currently loosing 140 pips.
Our next holding is AUD-JPY which is 250 pips in positive territory. We still however are seeking additional 150 pips. View the chart.
250 pips gain.
Next week. We are looking at a couple of situation for this coming week. First one is rather short term trade in EUR-CHF. We have a standing BUY order at 1.5650 and a target of 1.5700. We think right here is a short term bottom for this pair.
Next trade was already initiated. It's long USD-CAD at 1.1060 and 1.1500 target.
This obviously is a little longer term trade.
We wish everybody best of luck and great trading!
If filled at 1.5650 our target is 1.5700
First target 1.1500.
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 .
