Forex books!
We have wide selection of Forex
trading books, training courses,
trading systems and software!
www.forexe-books.com | Good day to all!
After previous week, this one felt anticlimactic. That, of course, was very deceptive as the moves were still large. We have witnessed reversals of fortunes, as most currencies were recovering their losses against JPY and USD. This is very much in line with our analysis and fits very nicely with "typical' behavior of the markets, if there ever is such a thing.
Price action seemed more orderly, as if calm after the storm. For us it resulted in very slow week. Slow in terms of number of trades. "Rainbow" service saw only 3 trades, all of them winners. It has been few months since we had such a quiet period. Nonetheless, those 3 trades produced good results, 427 pips in gains. We are happy with it.
As of this writing, we think there is going to be farther slow down in price movement in most pairs. Probably 2-3 weeks of price consolidation before more clear picture emerges. So far odds favor resumption of previous trends, that is renewed strength in USD and JPY. We will see.
Our other services also had rather quiet week. Both "Daily Euro" and "Daily Pound" posted small gains. "Daily Euro" moved into positive territory on the last trade of the week, on Friday, when it caught good profit.
Results are posted below. Follow the link in order to see trade by trade results. Snapshots of "Rainbow" trades are posted down this page, as is "Trade of the week" for next period.
|
Subscribe
Services
Forex Data
Forex Bookstore
Spectrumforex Blog |
Here are the results we achieved last week:
- Rainbow made 427 pips in closed trades;
- Daily Pound gained 59 pips;
- Daily Euro earned 15 pips for the week;
Follow the link on the right to view details |
Last week's results. |
Last week we didn't offer a "Trade of the week". Rather we conducted some predictive analysis for JPY crosses. We used EUR-JPY as an example. We also traded in line with our conclusions. There were only 3 trades last week, one of them was in GBP-JPY.
We went LONG at the market right after the open last Sunday. Our fill was 226.87. Our target was reached about 12 hours later, for 203 pips gain. That was a nice way to start the week.
|
| Here is next one of our trades. We issued a BUY alert for NZD-USD on 08.20.07 and our order was filled on 08.22. at 0.7044. Target was 0.7180 and it was reached next day. Altogether a good trade, for 136 pips profit. |
Next week's trade.
|  |
Today we are looking at a longer term USD-CAD chart. This is daily chart of and we seek to go LONG here. Our plan is to BUY at the open on Sunday. Our target is about 1.0850, with a Stop/Loss area around 1.0350. We are not placing a firm S/L but rather will evaluate what is going to happen if the price gets to that area. Since we are using daily chart, we need to be committed to this trade for about 1-2 months. Hopefully, the conclusion will be reached sooner, but that's the outlook. Trade will be postponed for later review if there is a substantial gap on the open.
Have a great trading week! | |
|
|
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 .
|
Risk disclaimer:
Substantial risk is involved. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets. Don't trade with money you can't afford to lose. Nothing in our website shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Trading involves high risks and you can lose a lot of money.
|
|
