Welcome back.
The month of May is over and what a month it's been. Let's set the record straight right away: May of 2006 was the WORST month on record since we started this service almost 2 years ago. There, now we're in the clear. We hope that this abysmal performance will not repeat any time soon.
As far as the week goes there was some improvement, so we stay the course as we believe results will be getting better now.
System 1 made 63 pips last week, closing month of May at -271 pips, starting month of June +63 pips. Follow this link to view complete details.
System 2 lost 2 pips last week, closing month of May at -94 pips, starting June +19 pips and bringing it's annual total to +171 pips. To see trade by trade go here. |
Discretionary trades.
As promised last week, we return to our regular format. We will review some of the trades we have both featured on these pages and taken over last few weeks. As last week we focused on a VERY, VERY long term analysis, we have sort of a gap in our more day to day observations.
We'll start with a trade we've been carrying along for a few weeks. USD-CAD with a target of 1.1500 is currently about 50 pips in a loss. We had a nice run up in this trade but since retreated. We continue holding it. |
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| Target still 1.1500 |
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Two weeks ago we took a look at 2 developing situations. First was a BUY in EUR-AUD. That trade worked itself out very fast . Our target of 1.7100 was met the very first day and we took a nice 150 pips profit.
Second trade was a potential BUY in GBP-CHF. Trade was never entered as our buy price was not met. We keep our BUY order and monitor the situation. See the snap shots. |
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| Target met in one day! |
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| Price has not reached our buy level. |
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| Finally, from last week our trade in GBP-JPY was entered. We are currently about 100 pips in red. We hold the position and our target is still 216.00. |
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| Target still 216.00 |
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And last but not least, a quick look at possible trade for next week. Our focus is CHF-JPY. A high probability buying opportunity has been developing here for a number of weeks and months. We believe this pair is about ready to go UP. We placed a buy order at 93.25 with first target at 95.00 and longer term goal of reaching 97.50. If you were to take this trade be advised this is a longer term proposition (couple of months?).
We wish everybody good trading and see you next week! |
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| Target 1- 95.00, target 2 - 97.50 |
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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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