I am a Short & Medium Term Experienced Trader who enjoy gaining from the market quick pips( bt. 10 and 30) as bouncing trading for the Short Term Strategy while from 50 & above pips for the Medium Term Strategy relying on daily charts for start of up or downtrend movement of many pairs, besides Gold & Oil, using my advanced indicators as a whole system to figure that.
Short Term Strategy Take Profit is bt. 10 and 30 pips while stop loss is 30 pips, aand very important note for this bouncing trading strategy(crucial resistance, support, psycological price levels) is you do not enter an order if a pair price hit few pips(bt. 6 and 10) before my buy or sell signal but only if it directly hit it at first intact you enter a trade.
While for Medium Term Strategy Take Profit is 50 pips increased to 100 then 150 and so on… as a certain pair continues its up or downtrend movement each day and I’ll daily update you about that, while stop loss is 50 pips from the start of daily candle taken order & Take Profit can be used as stop loss, if a pair moved with more than 50 pips gain but reversed before the 100 pips, you set stop loss at 50 pips gain from entry of order,
another example is if a certain pair wasn’t able to gain fast 50 pips from start of daily candle and you realized that its moving sideways then you TP bt. 10 and 50 pips,
3rd example which is as the first one, if a pair reached 200 pips gain and reversed you can set stop loss at 150…
Ofcourse, After days of reading my posts you’ll learn well how both strategies work.
Now to the Most Important part which is My Forex Signals for tommorow:
Monday the 28th of March 2011:
Short Term Strategy:
Euro/Usd sell 1.4150 then 1.4190/95 then 1.4250 then 1.4280/85, buy 1.3985/90 then 1.3905/10 then 1.3880/85
Gbp/Usd sell 1.6135/40 then 1.6190/95 then 1.6260/65, buy 1.5980/85 then 1.5910/15 then 1.5875/80 then 1.5835/40
Usd/Jpy sell 82.00 then 82.45/50 then 83.00 then 83.90/95, buy 80.70 then 80.50 then 80.10/15
Usd/Chf sell 0.9270 then 0.9350/55 then 0.9395 then 0.9430, buy 0.9100/05 then 0.9075/80 then 0.9050
In coming days, I’ll post around 7 to 12 pairs buy and sell signals.
“Then” Means after entering a buy or sell order for the first said price and gained bt. 10 and 30 pips, you enter at second price signal if the pair broke the first signal price after bouncing back(10 to 30 pips) but again remember that you do not enter the market if for example the price hit 0.9260/65 for the Usd/Chf and not directly 0.9270 as sell order…
Medium Term strategy:
Euro/Usd This pair collapsed down again to support at 1.4050 after a bad news release of EU Summit, besides talks by James Bullard who’s the president of the St. Louis Fed that Fed quantitative easing can end early, which gave hope for increase of interest rate by Fed in near future, this pair friday close suggest 2 options for Monday:
First is continuing the collapse to 1.3980/90 if breaks 1.4050, then weakness would extend to 1.3870.
Second, this pair might go up again to try 1.4150 then 1.4200.
Despite downtrend is more possible but keep close look if this pair breaks 1.4050 before entering a sure sell order.
Gbp/Usd this pair continuing downtrend movement which started from 3 days to reach around 1.6000, while next step must be retracement then heading to 1.5980/85 as good support, break would lead to 1.5910 then 1.5880 then 1.5820/30, while only break of 1.6140 might turn this pair to upside levels again despite not favorable option…
Usd/Chf this pair broke fast many resistance after bad EU summit & Fed News of QE ending early, to go above 0.9200 suggesting an uptrend move would be heading to around 0.9430 but ofcourse with resistance on the way like 0.9270 then 0.9350/60.
Usd/Jpy this pair finally broke resistance at 81.35/40 to crucial level at 81.50 after sideways movement for some days but closing below this price at 81.30 suggest 2 possibilities, First is contiuing sideways movement or contiuing uptrend to reach as high as 83.95 in few days coming and this option is more favorable.
Aud/Usd continued uptrend movement that started from a week ago and it was a wise decision to close buy order near 1.03000 and wait for a retracement on Monday to buy again at much lower price, same for Nzd/Usd good close buy order at 0.7560/70 and for now lets stand aside for a good correction before entering new buy.
Usd/Cad this pair might move sideways bt. 0.9750 and 0.9830 while above is 0.9890 first.
Euro/Gbp this pair must move bt. support 0.8745/50 then 0.8710/15 while above 0.8810/20 is targeting 0.8940.
Euro/Chf this pair kept going up, despite Euro weakness at end of friday but used Chf very weak currecy on friday to close at high price, if this keeps it will be heading to above 1.3000 to reach 1.3090.
Gbp/Chf using Chf weakness to close high, possibily heading to 1.4870 then above if breaks or will be moving sideways.
Euro/Jpy closed at crucial support 114.55 suggesting upward movement still alive to try 115.50, break would extend gains fast while support below said support would be 113.80 then 113.35/40.
Gbp/Jpy this pair moved sideways on Friday with very tight price range which isn’t normal for this pair, closing neutral bt. resistance and support, suggesting 2 options: above 1.31.00 is 131.70 then break would extend fast gains while below 130.00/10 would extend weakness fast…
Euro/Aud, Gbp/Aud, Gbp/Nzd continued powerful downtrend that started from 3 days,
Take Note that all these pairs are still on same direction movement, but any entry now must be at high retracement price to enter new sell orders.
Chf/Jpy is a pair to look at to sell after close price on Friday suggest it moving toward 87.00, meaning around 150 pips gain from open if keeps downward direction, so enter a sell order only if Chf keeps weakness against all currencies which was the case on friday…
Gold friday close daily candle suggests 2 options: first is a retest of 1445/46 then crucial 1450 level while downward is 1420 then around 1400.
Oil daily candle close suggests going to retest 106.60/70 then 107.60/65 while downward is 104.80/90, break there would lead to around 102.80/90 as good support.
Please take crucial note that you musn’t enter buy or sell orders for all pairs that I talk about starting or continuing an up or downtrend movement, but apply orders for pairs you usually trade if you are somehow an experienced trader for at least few years.
or you can easily trade smart by triggering orders for a strong currency pair against a weak currency pair, for example on thursday and friday the Aussie & Nzd Currencies were very powerful against all other pairs while sterling was weak and started downtrend against dollar and the said currencies, so it was best to sell Gbp/Aud & Gbp/NZD which collapsed 600 pips each(yes 600) in 3 days, meaning 1200 pips in just 3 days for both.
Ofcourse, other pairs were also good to sell like Gbp/Usd & Euro/Aud collapsing more than 300 pips but compared to the above 2 pairs that is only half the pips gained for a simple reason, the dollar wasn’t that powerful currency as Aussie and Nzd while Euro wasn’t that bad currency but with moderate powering then weakening which led it to collapse mostly on friday alone(200pips).
Also Aud/Chf moved 200 pips up on friday after the Chf currency weakened against all currencies…
I’ll surely update you each day about continuation of up or downtrend for each pair or possible reversal or sideways movements…
About Monday News Release, You must take close look at US Pending Home Sales & ECB President Trichet Speaks.
A Good US Data followed with a disappointing Trichet talks would more power the dollar especially USD/Chf & Usd/Jpy while weakening Euro/Usd and vice versa for a bad US data and hints by Trichet about increase in rates next month April.
Enjoy your Sunday & Have A Great Monday Trading