 | Hello again!
Summer has started, although in these parts one would be hard pressed to notice it. Unbelievable, seems like just yesterday we were greeting the arrival of New Year. Goes by fast. There are matters to bring up regarding our "Rainbow" system. We mentioned to our subscribers in this Friday's weekly update, that we might be altering the formula a little bit. As you know, it's our mission to provide systems and services to help with "hands off" trading. We strive to have our systems to be as mechanical as possible. With "Rainbow" it means one update per day, with most trades being break outs. There is an occasional update at around 12-13 EST but those are rare and they only advise closing of existing positions, not new alerts. We always want our subscribers to be able to respond to updates, which means the less of them,(the updates), the better. Last week we included more entries "at the market" in our signals, more than normally.
We are tinkering with a notion of also making the "morning update" part of service and issue it daily. If this is implemented, these updates would also include possible entry signals, not just exits. This might inconvenience some users, who work during that time and simply are not able respond to more updates. We also would be issuing more "at the market" calls. Now, we must make it clear, all trades would still be based on charts no shorter than 1 H, so there is no need to monitor them on continues bases. We are trying to reach traders who have no time or interest to be glued to a computer screen around the clock. We are asking for comments and opinions regarding these possible changes, which are in a development stage.
We did good last week, all our services made gains. "Rainbow" trading was very busy, we cut some loosing trades early in the week and go into this weekend with one older open trade and two new ones, which were just established on Friday. We were focused heavily on CAD and CHF crosses. We posted snapshots of some of those trades here.
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Here are the results we achieved last week:
- Rainbow made 510 pips in closed trades;
- Daily Pound earned 53 pips;
- Daily Euro made 31 pips for the week;
Follow the link on the right to view details |
Last week's results.
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| Last week we featured a possible trade in EUR-AUD. Our intended entry was at 1.5980 with a target of 1.6080. As we can see from the enclosed chart, our entry price has not been reached yet. This trade is still valid and we keep our order active. |
Shot at 1969-12-31 |
You can go here to view more trades from last week. |
We are taking a closer look at EUR-CAD. We had very good results trading CAD crosses last week. We are looking at an intermediate chart of EUR-CAD, with a BUY order at 1.4451 and a target of 1.4650. Due to the time frame used, this trade can take 2-3 weeks to work out and it's possible to see fairly deep draw down.
Have a great trading week! |  |
Shot at 1969-12-31 |
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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