New post on my blog. Please take a moment to read it: ProsperityFXPro | Creating wealth for currency traders – one trend at a time.
I have exited my GBP/USD long i was in since this morning. 1st Target was 1.5347 and due to the likelihood of the market reversing and the fact that the London session was closing I have recommended taking our money off the table early.
Best wishes, until tomorrow.
Michael 
I have shorted the GBP/USD with my team at 0800gmt at 1.52695 sl at 1.5393 and tp at 1.5233
Nice one。。。。
We have exited this trade for technical reasons. We are waiting for further PA development.
Michael
Markets are fractal. What happens on macroscopic level also happens on a microscopic level - in other words, what happens on the monthly timeframe also takes place on the 1 hour timeframe.
This is something I have know for some years - both through study and trading experience.
My forex trading system has undergone an evolutionary upgrade recently - I have back tested and live forward tested it on the 15min, 30min and 4hr timeframe, as well as 1 day, 1 week and 1 month timeframes (although these I was unable to forward test - we would have to wait months or more likely years!) and I am pleased to report to you that it works perfectly.
Here are trades that have shown up just for last week alone using this method:
GBP
EUR
This week began with exactly the same kind of setup/entry as last week - I took it myself and helped my team enter in the London session at a good price (remember that falling window?) and we made pips.
Using this modified timeframe entry system (and it did need to be modified somewhat - not a straightforward lower-timeframe imitation of an entry) I expect we will have more entries to capitalise on market movements both during and in-between larger trend-trade setups.
Enjoy the ride!
Michael
PS. Please check out ProsperityFXPro | Creating wealth for currency traders – one trend at a time. for more detailed charts.
copy of twitter alerts:
Prepare to go long on gbp/usd with two separate trades, smaller in size than you would usually… we will use two separate stoplosses…this slightly riskier-than-usual trade but keep a tight stop below the current hourly candle low (11gmt). I will confirm upon hour end
We may take a long trade on GBP/USD at end of hour. Market showing confusing signs of future movement. However, I believe we need to take…
long gbp/usd now
STOPLOSS 1: 1.5338 STOPLOSS 2: 1.5317
TAKE PROFIT : 1.5555
Hopefully Euro will give us a long soon also. It is not ready hence the smaller entries to keep risk low.
If we have reason to add to the trade I will inform you
Divergences
Posted on 18/01/2012
One of our trading group members asked me questions regarding diverge setups.
These were the charts he sent me:
My comments:
Divergences are indeed very useful patterns to take advantage of. In my humble opinion, and this is purely based on my own experience trading fx is that for the best divergences setups you need the highs and the lows on the stochastics to be sequential. I do not like to see other peaks and troughs inbetween.
Here ia a 15 min chart of the EUR/USD to demonstrate my point:
Here is the same chart zoomed in:
Note how is is much easier to recognise the divergences on a zoomed out chart.
Hope this improves your trading.
Best wishes,
Michael
PS. if you wish to see better quality charts tune into www.propserityfxpro.com 
Thanks for this on divergences Mike, really useful and I’m going to experiment with them some more on my demo account. I think they’re easy to spot and very often seem to work nicely. Thanks for the pointers.
Also great signal on GBP today. No idea how you came up with it but the trade is working very nicely.
All the best,
Billy
very nice signal, long GBP/USD from 1.5347,SL 1.5317.Unbelievable. Thanks
Many thanks Mike for the signal & divergences explanation. Looking forward for ur videos
So far we have had a maximum floating profit of [B]95 pips[/B] and [B]97 pips [/B] on our two entries respectively. This was on the 12gmt hour candle today.
Good call today Mike, very strong re-entry call on gbp/usd. Even more reason to believe the saying The trend is your friend.
Took my first trade yesterday and am very impressed. I have followed and studied numerous systems and it is very refreshing to see the confidence that Mike exhibits - confidence is contagious. I don’t know how he does it but so far his calls and opinions are very accurate. I am looking forward to learning more and contributing to the group. Thanks again…
I feel like I’m missing out. On Twitter you said
“Gave my team a long on gu at 15:10 as a reentry with stop @ 1.5441or tight beneath it - approx. 6 pips. Will it work out?”
I looked for previous tweets, i looked here and on your site. Where did you give your team this signal? Sorry, if I’m missing something obvious.
The call was made on skype - there are a number of traders following Mike through the London session and into the NY session. I think all you have to do is search skype for prosperityfxpro and he will accept you into the trading group.
Thanks mstewert!
Hi Odell,
Thank you for joining us on skype. It will really accelerate your fx education just being there a while and interacting with the other traders.
I shall explain the scenario with the ‘missing signal’:
We have been long on an entry on GBPUSD since yesterday. Some of my team were eagerly looking for a reentry into the trend and asking me for help pinpointing an entry. Although I have not until now been keen on reentering, I discovered throughout today’s London trading session a highly specific method to reenter the trend, as well as the most accurate scalping entries you can possibly imagine. As each one of these was working out, I let my skype team know the reentry that the market gave this afternoon. As it was not yet officially part of my trading system, it was not given out on twitter (another reason to stay tuned with us on skype 
) . However, I am pleased to report now that we have a very neat ‘triple-tier’ fx trading system that will only serve to make trading much more cash profitable, but also more rewarding and fun (not to mention stress-fre 
).
I will have an article here on babypips as well as my private trading blog ProsperityFXPro | Creating wealth for currency traders – one trend at a time. by tomorrow, together with screenshots taken from my tradestation.
Wishing you the very best of success, and a very warm welcome on behalf of everyone in our group.
Michael
PS. Any skype team members are welcome to comment on this post and share their thoughts.