Welcome back!
Once again we'd like to take the opportunity to apologize for the abbreviated nature of last week's comments. Unfortunately a brief but sudden ailment knocked me flat on my butt.
Back to business at hand, our Systems' performance is less than inspiring. No, let's call it how it is, performance is lamentable! Last week was second worst on record and the month of May if closed today would be our worst month ever, since the inception of service almost 2 years ago.
In light of these facts, next months subscription is FREE to our existing customers. Also we feel that the loosing streak is coming to an end, and our systems once again will start to produce some pips over coming weeks and months.
So how bad has it been? System 1 lost 145 pips last week, is -220 pips for May and only 42 pips positive for the year. Go here for all the details.
System 2 lost 150 pips last week, which makes it -93 pips for the month and makes it annual total at +153 pips. For trade by trade data follow this link.
Such is trading. We are facing next week with confidence. |
Discretionary trades.
Since we didn't post anything last week we start review with older trades. From two weeks ago; we had a BUY order for EUR-CHF which never took place.Our BUY level was not reached and the order was cancelled. This pair continued lower. See the chart. |
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| Trade was not triggered. |
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| Another trade we had featured is long trade in USD-CAD. This trade is currently about 120 pips in positive territory . Our direct target here is 1.1500 and then we'll decide if we want to keep it longer. |
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| First target 1.1500 |
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Next week's trades.
We will focus on couple of opportunities we see in secondary crosses. First will be EUR-AUD where we have a standing BUY order at 1.6900. We are looking to get to 1.7200.See the chart. |
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| Buy 1.,69, Target 1.71 |
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Next possible trade we see in GBP-CHF. Our BUY order is at 2.2930 with a target of 2.3150. Both of these trades we think are fairly short in duration and we expect to be out of them within couple of weeks.
Some thoughts here about GBP-British Pound. We believe that this currency is in the very beginning of a major, long term Bull market. We already stated a few weeks ago that we will see 225.00 against JPY this or next year, now we are saying that we'll see GBP-CHF at 2.45-2.50 in the same time frame.
In fact, if we were investors, not traders we would load up on these two crosses, hold them for 5-7 years! Remember, you've seen it here first!
As a matter of fact we'll devote next weeks comments to a discussion about GBP.
Good trading everyone!. |
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| Target 2.3150 |
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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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