 | Good day to all!
Story of the week most certainly was British Pound,or more specifically, the "cable"- GBP-USD. It reached 2.0000 for the first time in 15 years! It's a very important psychological level and also key level for long term charts and technical traders. This event was dutifully noted by press, but more interestingly, even our local daily newspapers here, in this Forex trading desert, had good size articles on front pages of business sections. While it's not exact science, when press picks up on something they rarely give a light of day, it generally means the event is nearing it's full extent. In this example it would mean that mean GBP-USD is reaching temporary peak. That, of course is a loose observation not a fact.
Ourselves we had a mixed week. "Rainbow" service had only 3 trades and all of them made some money. "Daily Pound" posted gains for a week, but in all honesty those gains were achieved during one day. The rest was very choppy. "Daily Euro" lost some money but the losses were small.
Altogether, it was a slow week for us. Outside of the 3 trades in JPY crosses we were sitting on our hands. That won't last. The dynamics of the moves are changing and we fully expect to get much busier this coming and following week.
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Here are the results we achieved last week:
- Rainbow made us 395 pips in closed trades;
- Daily Pound earned 75 pips;
- Daily Euro lost 30 pips for the week;
Follow the link on the right to view details |
Last week's results. |
| Last week we featured a trade in EUR-GBP. There was a stipulation that trade is to be cancelled if the price at the open gaps above our entry price. That's, in fact what happened. We have the ability to monitor prices in even earlier "trading" before most brokers open their platforms. In these early activities, the gap was even more dramatic. Trade was cancelled and, as always, subscribers were immediately notified. |
| Here is one of our trades from last week. We went SHORT AUD-JPY, in fact we went SHORT most of JPY crosses. This trade produced 112 pips. You can see the other trades from last week by following this link. |
For this coming week we are looking at CAD-JPY. It seems to us this pair is ready for some sell off. Our plan is to go SHORT at market open on Sunday afternoon in the neighborhood of 105.60-105.50 with a target of 70-80 pips or 104.70 or so.
This is another instance that a wide gap on the open cancels the trade. Subscribers will be immediately notified.
We wish everybody great week and profitable trading! |  |
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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