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www.forexe-books.com | Happy Halloween!
Here we go, that's this time of the year again. It seems only yesterday we were posting a Halloween update last year. While the theme is "fear and scare" we hope all have fun and joy, Especially when it comes to trading. On the other hand trading is a form of Halloween. If looked at closely, every chart is littered with ghosts of "fallen" traders and dead dreams. Somebody said long time ago that trading is 90 percent boredom and 10 percent horror. Sometimes it's true.
Dollar just continues to get weaker. Especially against EUR and AUD. Remaining currencies, like GBP and JPY are showing some weakness of their own. Even CAD is not gaining as fast as it did before. Australian Dollar, however, behaves as if being on steroids. Next week we will take a closer look at AUD-USD. We have monthly data going back to 1969. That will allow us to see where current lofty level of over 0.9000 fits in historically.
Our services did O.K. this week. Nothing spectacular, but all 3 were positive. See the results below and follow the link for more details.
Next week we will update complete results pages as well as long term performance graphs for our systems.
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Here are the results we achieved last week:
- Rainbow made 187 pips in closed trades;
- Daily Pound earned 105 pips;
- Daily Euro gained 21 pips for the week;
Follow the link on the right to view details |
Last week's results. |
| Our "Trade of the week" from 10.21.07 or last weekend. The cross is EUR-AUD and we are long in it. From the outset, we anticipated a relatively long holding time but even though, trade is not looking good. We need to see how the prices will react around next support, if we get that low. For now, it's a hold. |
| Here is a better trade. We entered GBP-JPY Friday before and held it over the weekend. Our entry was 235.04 with a target of 233.00. We were out of it few hours after markets opened on Sunday with 204 pips. |
| Trade of the week. |  |
We are taking a look at GBP-JPY here. Our intended direction is to the downside. We have a SELL order at 232.70 with a target of 230.55. We are using an intermediate time frame for this one, so it's possible that, IF the trade is initiated, we are looking at some 2-3 weeks holding time. Of course, you never know for sure. We will see...
We wish everybody a great trading week and fun Halloween! | |
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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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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.
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