Hello again!
Welcome back all our readers as well as warm "Hi" to those who check this site out for the first time. Those of you who are on vacation and resting we wish great time and those of you who like us are grinding away we wish, what else, a nice vacation soon! Now, we can easily say that a lot of people are on vacation because of very erratic action of the markets, as is changes of direction were happening every few ours.
So her we go, last week's scores.
System 1 lost 52 pips last week, with a total for July at -43 pips.
System 2 lost 118 pips last week, wich makes it's monthly total also -118 pips.Ouch!
Not trying to minimize it, but it was somewhat strange week and we feel these losses will be recovered easily.
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Discretionary trades.
Most of our discretionary trades, at least the ones we featured here, are in secondary crosses and experienced some movement last week. We'll start with coverage of USD-CAD. Our original position shows about 210 pips profit and our additional standing buy order was also executed at 1.1280. That one is about break even. Once again our target here is 1.1500.
Here's the chart. |
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| 210 pips profit, target 1.1500. |
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| Next one is CHF-JPY, which has started to move. At the moment we are in profit for 75 pips, with our first target being 95.00 and possible secondary 97.00. Take a look at the graph. |
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| So far 75 pips profit, target 95.00. |
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| Another featured trade was EUR-CHF. We were doing good for a while, until couple of days ago when sudden weakness in this pair went against us. Currently we are minus 50 pips. Regardless we are maintaining position with target unchanged at 1.5800. |
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| At the moment -50 pips, 1.5800 target. |
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| Last but not least a trade from last week. This is GBP-CHF. As you recall we had a buy order at 2.2675 with a target of 2.2750. Our order was executed and currently we are about 10 pips in profit. We think this trade will come to a speedy resolution on Monday. Our plan is to close most of position at 2.2750 and ride out than balance to 2.2850 market permitting. |
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| Target 2.2750 |
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Well we come to a point when we usually have a possible trade for next week. our research suggested to feature USD-CHF for a long trade. We do however have so many trades with CHF in them that we decided to not go into detail on this one.
We wish all traders terrific week and see you next weekend! |
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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