Hello,
We hope everybody is enjoying summer, except those parts of the world where there is winter now. While weather is still nice, August and with that summer is coming to an end. Who cares about it? Well, in a roundabout way we do! Why? Well, we discussed it a couple of months ago that summers are generally very erratic movements' periods, especially for our systematic method. While so far we were doing well this summer, it finally caught up with us this last week. More about it in a moment.
At the end of the section there is going to be a recoup of our long term recommendations which were first published on May 28th. Forgot what that was? Here's a chance to recall it and it's worthwhile! But let's do the nasty first. Here we go.
System 1 took a real beating this week. It lost 147 pips with a monthly total of -182 pips! That hurts!
System 2 lost 87 pips, making it's total for August -63 pips. |
Discretionary trades.
Not everything went terribly wrong last week. Here's a recoup of those few positions that were featured in the recent past. Our slow moving CHF-JPY trade is still moving slowly but in the right direction. Currently we are about 60 pips in positive territory with a target of 95.00. Here's the chart. |
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| Currently +60 pips, taget 95.00 |
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Next one of the featured trades is USD-CAD. As you recall we have 2 separate trades riding here. Trade 1 is about 180 pips positive, while trade 2 is about -30 pips. Regardless, our target is still 1.1500.
Take a look. |
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| Target still 1.1500 |
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Next week's trade.
For this coming week our focus is on EUR-CAD. We see an opportunity here to go long at 1.4450 with a target of 1.4550. In other words we are looking for a gain of 100 pips in under a week. |
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| Target 1.4550. |
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Long term recoup.
About 3 months ago we devoted our segment to a long term projection of GBP-CHF and GBP-JPY.
Here is a link to our original article. In a nutshell, we expect a resurgence of GBP for years to come, especially against these two crosses; GBP-CHF and GBP-JPY.
So far these pairs made a large and steady moves to the upside. Please remember that our forecast is extremely long term, which means that drawdowns can be for hundreds of pips and last weeks or even months. We are BUYERS at any slide of 500 pips or more for either cross!
Original forecast was published on 05.28.2006. That point is marked as two crossing red lines. Please note, it was possible to make as much 750 pips in GBP-CHF and even 1000 pips in GBP-JPY!
In the light of this forecast shouldn't you take a closer look at what we had to say about NZD just last week?
Remember, you've seen it HERE FIRST! |
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| Solid move since featured. |
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| Red cross marks the point when original forecast was published. |
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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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