By the way, why do you think some results [B]look [/B]hypothetical?
LOL, no problem you can post whatever you want and Iāll correct any flaw withinā¦
Would not be showing off when I say that most of the time, the 3 targets I talk about and the 3 short term signals (buy or sell) are more than enough for exits TP & SL. Only at times of very powerful trend or spikes or collapses, market price for some pairs might move more than the targets especially when we have a previous day of tight daily range due to low volatility for whatever reason if bank holidays orā¦then the following day have high volatility, so powerful movements would surely pass the targets in such case but those are not common or not always situations but rare.
Besides, I do not see it as really worth to hold an order for more time to gain 20 more pips after you have above 100 pips gain.
Certainly, if a trader can perfect exits to milking pips till the end would be Great but after years of experience I well know that many times itās not good to milk entries & exits because many times market price do not go to your preferred or expected price level and you might end up with no trade or wait for some more pips for exit and see price reversing and loosing you some pips while youāre still waiting for exact exit price.
All mentioned results are with Good Entries and exits but other pairs not mentioned had Good Results too, starting with:
Gbp/Usd It seem that you do not trade the retracement instead only breakout, because this pair had Great opportunity to trade the retracement which was at 1.5575/85, market price marked 1.5579, so it was a good buy market price went after hitting retracement to as high as 1.5648, so I surely see it as perfect entry at retracement for around 50/60 pips
Nzd/Usd this pair also had possible perfect entry at "would face double tough resistance at High 0.7805/10, break if possible"
which means any entry bt. 0.7895 till 0.7905 since market price marked 0.7905/10 at early day hours, if you werenāt able to exactly enter at 0.7905/10, market price offered many opportunities bt. 0.7895/05 for many hours for a gain of around 40 pips despite market price didnāt hit retracement but good exit was a little above 0.7850(as 50 is a psychological level)
Aud/Usd same can be said for this pair as āwould face resistance at High 1.0375/80ā, as traders must remember that high is for sell, low is for buy, perfect entry at high 1.0375/80 which was highest price level for yesterday, and result was comfortably above 50 pips gain
Euro/Jpy Perfect entry sell at retracement(but maybe you do not trade retracement so you missed this great trade) till exactly second target 99.00/05 which was lowest reached price for yesterday, result around 100pips easily
Gbp/Jpy same for this pair retracement trade sell at 120.15/20, but non of said targets were reached, but easy exit was for around 40-50 pips since market price held much around yesterday lowest price at 119.59
Oil & Gold continued successful powerful uptrend movement yesterday with high pips gain as trend tradingā¦
Hello Jerry,
I canāt understand why you see the results as āhypotheticalā, you can simply Try my Signals & Analysis on your broker demo account and see what comes out with you. Simply, enter trades as retracement and breakout levels even if that means both entries or hedge trade for same pair and see where market price would go on with your orders, look at exits at my said targets. Ofcourse if you well know how to trade, you can enter the right trade breakout or retracement for any pair/s and see the magic results youāre reading here.
I do not think thereās any unrealistic info about the daily results because any trader can match or compare my daily info to what happened in the market.
Now, you can enter your broker account and matchā¦
As I had advice before, no need to enter trades for all pairs but only pairs a trader well know how they performā¦
Besides, some pairs might have no possible trade for the day as non of retracement breakout high or low have been target for any reasonā¦
All what I leave for traders using my signals & analysis is just to do your homework well by learning studying retracement and breakout strategies and the rest is easy for you all since I provide you traders with clear perfect accurate price levels for both entries & exits.
Without Try then ask me about your concerns or misunderstanding of some points of view in both strategies, no trader must judge those signals & analysis
Good Luck
Hello Traders,
Forex Signals & Analysis for 6th January 2012:
Short Term Signals:
Usd/Chf Buy at 0.9415/20 then 0.9360/65 then 0.9315/20, sell at 0.9585/90 then 0.9615/20 then 0.9695/00
Usd/Jpy Buy at 76.60/65 then 76.40/45 then 76.15/20, sell at 77.40/45 then 77.55/60 then 77.90/95
Euro/Usd Buy at 1.2695/00 then 1.2655/60, sell at 1.2935/40 then 1.3010/15
Gbp/Usd Buy at 1.5405/10 then 1.5365/70, sell at 1.5625/30 then 1.5690/95
Medium Term Daily Analysis
:
Usd/Chf This pair is still on uptrend, retracement at 0.9460/65, break is to our short term buy signals while on the upside facing resistance at high 0.9525/30, a base above would power the trend toward our short term sell signals
Usd/Jpy This pair is still on downtrend, retracement at 77.25/30, break is to our short term sell signals while on the downside toward our short term buy signals and low is at 76.60/65
Euro/Usd This pair is still on downtrend, low resistance at 1.2815/20, break is to retracement at 1.2865/70, above would target our short term buy signals while on the downside kept below low resistance is powering the trend toward our short term buy signals
Gbp/Usd This pair reversed to downtrend, retracement at 1.5535/45, break is to our short term sell signals while on the downside toward our short term buy signals and low is at 1.5395/00
Usd/Cad This pair is trying to base on uptrend with Important CAD News Release ahead on today, above 1.0175/85 to target 1.0255/60 then 1.0285/90 and possibly 1.0345/50, while below retracement is to target 1.0110/15 then low at 1.0075/80 and possibly powering the trend toward 1.0030/35
Nzd/Usd This pair turned neutral today, above 0.7820 is toward 0.7875/80 then 0.7910/15 and possibly 0.7940/45, while below 0.7775/80 is toward 0.7755/60 then 0.7735/40 and possibly all the way to target 0.7685/90
Euro/Chf This pair is still neutral ahead of Crucial Chf News Release today, above 1.2185 is toward 1.2195/00 then 1.2205/10 then 1.2215/20 then 1.2250/55 and possibly 1.2270/80, while below support 1.2155/65 is toward 1.2145/50 then 1.2130/35 and possibly all the way to target low at 1.2090/00
Gbp/Chf This pair is still on uptrend, retracement at 1.4690/00, break is to 1.4660/65 then 1.4635/40, while on the upside facing high resistance at 1.4765/70, above is powering the trend to target 1.4790/95 then 1.4805/10 then 1.4850/55
Euro/Gbp This pair is still on downtrend, retracement at 0.8280/90, break is to 0.8300/05 then 0.8315/20, while on the downside low at 0.8245/50, below is powering the trend toward 0.8230/35 then 0.8220/25 and possibly 0.8195/05
Aud/Usd This pair turned neutral today, above 1.0270/80 is toward 1.0370/75 then 1.0425/30 and possibly 1.0480/85, while below 1.0220/30 is toward 1.0180/85 then 1.0145/50 then possibly to target 1.0065/70
Euro/Jpy This pair is still on downtrend, retracement at 99.10/20, break is to 99.30/35 then 99.65/70 then 100.00/05, while on the downside looking to base above low at 98.55/60 to target the upside targets, below low is extending trend power toward 98.10/15 then 97.90/95 and possibly 97.35/40
Gbp/Jpy This pair is still on downtrend, retracement at 119.65/70, break is to 120.00/05 then 120.30/35 then 120.65/70, while on the downside toward 118.95/00 then low at 118.70/75, below here would extend trend power toward 118.30/35
Oil is still on uptrend, retracement at 100.80/85, break is to 100.15/20 then 99.65/70 and possibly 98.00/05, while above 101.65 is toward 103.45/50 then 104.50/55 and possibly 105.35/40
Gold is still on uptrend, retracement at 1610/11, break is to 1597/98 then 1592/93 then 1585/86 and possibly 1575/76, while on the upside toward 1637/38 then 1643/44 then 1661/62
We have Important News Releases today for the Swiss Franc, Canadian Dollar & Dollar Currencies today:
-
CHF Foreign Currency Reserves & CPI: Buy Euro/Chf, Usd/Chf & Gbp/Chf if 220B or below for the first and below 0% for the second while sell if above 240B for the first and 0.2% or above for the second
-
CAD Employment Change & Unemployment Rate: Buy Usd/Cad if 15K or below for the first and 7.5% or above for the second, while sell if 19K or above for the first & 7.3% or below for the second
-
US NFP: Buy Us/Chf & Usd/Jpy if 165K or above &/or 8.7% or 8.6% while Buy Euro/Usd & Gbp/Usd if 130K or below &/or 8.8% or above
I expect another crazy friday with Crucial Important News Releases especially US NFP, so Take Care Traders and Trade Right or Stand Asideā¦
Have A Great Trading Day & A Happy Entertaining Weekendā¦
Hi MM,
well, the problem I see is that for those pairs you mention that had good opportunities, on my charts the rates didnāt touch or cross the retracement line, so I didnāt take the trades you mentioned. For example, GBP/USD spiked down to 1.55774 on my chart - just a few pips short of touching the retracement line. Same with EUR/JPY - it had a little spike to 100.158 on my chart, so being short of touching the retracement line for just 4 pips I didnāt take this trade.
Iām not absolutely sure, but I think you said the rates need to touch the retracement line, right? If not, so how many pips ātoleranceā to the retracement line is acceptable?
[B]Result 05.01.[/B]
[B]USD/CHF[/B]
[B]Signal[/B]: This pair is again on uptrend, retracement at 0.9380/90, break is to our short term buy signals while on the upside toward high at 0.9490/00, above would power the trend toward the other 2 short term sell signals.
[B]Trade[/B]: No trade
[B]USD/JPY[/B]
[B]Signal[/B]: This pair is still on downtrend, retracement at 76.85, break is to the other short term sell signals while on the downside looking to had form a base at low 76.60, below would power the trend toward the other 2 short term buy signals.
[B]Trade[/B]: Long with breaking the retracement line. 3rd short term sell signal @ 77.05 reached for a profit of [B]+20 pips[/B].
[B]EUR/USD[/B]
[B]Signal[/B]: This pair reversed again to downtrend after failing to base above 1.3060/65 as said yesterday, retracement at 1.2965, break is to 1.2990, above would mix the picture again to target our short term sell signals while on the downside toward our short term buy signals with low at 1.2835/45.
[B]Trade[/B]: No trade
[B]GBP/USD[/B]
[B]Signal[/B]: This pair is still on uptrend after well holding above yesterday retracement(1.5575/85), today retracement is at 1.5590/95, break is to 1.5565/70, below here would target our short term buy signals while on the upsdie toward our short term sell signals.
[B]Trade[/B]: Short with breaking the retracement line. 3rd short term buy signal reached @ 1.5485/00 for a profit of [B]+100 pips.[/B]
[B]USD/CAD[/B]
[B]Signal[/B]: This pair is still on downtrend, retracement at 1.0140/50, break is to 1.0165/70 then 1.0185/90 then 1.0215/20, while on the downside toward 1.0085/90 then low at 1.0065/75, below would power the trend toward 1.0035/40. This pair had been trading for many many days the retracement level Very Good but today is an important news for the Canadian dollar currency, so weāll see if finally breakout would appear after I had analyzed yesterday that possible reversal at 1.0075 might had been formed. Lets wait and see, ofcourse ready for all possible scenarios.
[B]Signal[/B]: There were three possible trades for this pair:
- Short with breaking the retracement line. No tp level reached, pair did move upwards to break the retracement line, so probably a break even trade.
- Then long with breaking the retracement line, reaching tp1 @ 1.0165/70 for a profit of +20 pips. Pair did retrace down to the retracement line.
- Long at the retracement line for the second upward move. TP3 @ 1.0215/20 reached for a profit of +70 pips.
Overall gain for this pair was [B]+90 pips[/B].
[B]NZD/USD[/B]
[B]Signal[/B]: This pair is still on uptrend, retracement at 0.7840/50, break is to 0.7820/25 then 0.7795/00, while on the upside facing resistance at 0.7910/20, above is to target 0.7930/35 then 0.7955/60.
[B]Trade[/B]: There were two possible trades for this pair:
- Short with breaking of retracement line, TP1 @ 0.7820/25 reached for a profit of +20 pips. Pair did retrace to entry level.
- Again short with touching the retracement line, reaching TP level 2 @ 0.7795/00 for a profit of +40 pips.
Overall a profit of [B]+60 pips[/B].
[B]EUR/CHF[/B]
[B]Signal[/B]: This pair turned neutral today ahead of tomorrow crucial news release for the Chf currency, above 1.2190 is toward 1.2205/10 then 1.2220/25 then 1.2240/45, while below 1.2175/80 is toward 1.2155/60 then 1.2140/45 and possibly 1.2125/30.
[B]Trade[/B]: I donāt know exactly what to post for this pair. More likely a long trade with breaking the retracement line. But this pair would go up only a couple of pips and then go down again and keep bouncing up and down around the daily pivot level @ 1.2182 for the rest of the day. So for a potential long trade I think one would have had the chance to close the trade for a small loss of -20 pips. Considering a short trade one could have opened a short trade when the pair crossed the retracement line and then would break it in a downward movement, exiting around the daily pivot level for a profit of +10 pips. Overall, I think it had been better to stay out of a trade due to important news for this pair today. So I will count this as a no trade situation.
[B]GBP/CHF[/B]
[B]Signal[/B]: This pair is on uptrend today after many past neutral sideways days but perfect breakout yesterday above 1.4600 to all our said upside targets(read previous post), retracement at 1.4640/50, break is to 1.4565/70 then 1.4500/05, while on the upsdie toward High at 1.4740/50, above is powering the trend toward 1.4800/05 then 1.4840/45 and possibly 1.4945/50.
[B]Trade[/B]: No trade
[B]EUR/GBP[/B]
[B]Signal[/B]: This pair is still on downtrend, retracement at 0.8310/20, break is to 0.8350/55 then 0.8380/85 and possibly 0.8415/20, while on the downside toward low at 0.8250/55, below would power the trend toward 0.8235/40 then 0.8215/20 and possibly 0.8165/70.
[B]Trade[/B]: No trade
[B]AUD/USD[/B]
[B]Signal[/B]: This pair is still on uptrend, would be effected by the Trading of the Aud Trade Balance News Release after around 1 & a half hour from now, retracement at 1.0305/15, break is to 1.0275/80 then 1.0245/50, while on the upsdie toward High at 1.0405/10, above would power the trend to target 1.0425/30 then possibly 1.0470/75.
[B]Trade[/B]: There were two possible trades for this pair:
- Short with breaking the retracement line, TP 1 @ 1.0275/80 for a profit of +30 pips.
- This pair would then retrace up to almost reach the retracement level again, so there was a chance for a second short trade, this time reaching TP2 @ 1.0245/50 for a profit of +60 pips.
Overall profit for this pair was [B]+90 pips[/B].
[B]EUR/JPY[/B]
[B]Signal[/B]:This pair is still on downtrend, retracement at 99.60/65, break is to 100.25/30 then 100.70/75 and possibly 101.20/25, while on the downside toward low at 98.85/90, below would power the trend toward 98.60/65 then 98.30/35.
[B]Trade[/B]: Short with breaking the retracement line. No TP level reached, but assuming a trader would have moved the sl every 50 pips, a good exit would have been @ 99.10 for a profit of [B]+50 pips[/B].
[B]GBP/JPY[/B]
[B]Signal[/B]: This pair is still on downtrend, retracement at 119.85/90, break is to 120.20/25 then 120.45/50 then 120.70/75, while on the downside toward 119.40/45 then 119.25/30 then possibly to target low at 118.85/95.
[B]Trade[/B]: Short with slightly breaking the retracement line and then going down. TP 2 @ 119.25/30 reached for a profit of [B]+60 pips[/B].
Valid trades for today:
USD/JPY = +20 pips
GBP/USD = +100 pips
USD/CAD = +90 pips
NZD/USD = +60 pips
AUD/USD = +90 pips
EUR/JPY = +50 pips
GBP/JPY = +60 pips
Result for today: +470 pips
January: +1.140 pips
I have been trading your signals on my live account with good success for some time now, I only said hypothetical because some of the trade entries and exits were at the highest highs and lowest lows. I find it difficult myself to get that many great entries and exits. I am still working on the breakout strategies, that seems to be my weakness. I did not mean to offend anyone, if I did I apoligize. I usually only trade eur/usd, usd/chf, gpb/usd, and nzd/usd. I find it difficult to trade many more and cannot trade most of London session.
Great signals and and great posts from MM and Hubinator. Keep up the great work.
Jerry
Thanks for the compliment. Well, I have to admit Iām having problems finding the right entry as well. Itās just that when a rate touches or crosses the retracement line I struggle to foresee which direction the rate will finally go. Sometimes a rate would break the retracement line and I positon myself to either take a short or long position, but then the rate would go the opposite direction.
So I usually use Bollinger Bands in conjunction with my breakout strategy. That way I feel quite comfortable, but itās very difficult to enter a trade at exactly the retracement level.
However, I think itās just a matter of practicing and gaining experience.
Hello MM
Sorry I havenāt posted my results before as I havenāt traded since I last posted. I did however trade ur signals today.
I traded GBP/USD even though it didnāt hit the retracement level which I no I should not have.
Entry was at 1.5480 with s/l -20 pips
T/p at short term buy signal 1.5405
+75 pips
To Be Clear about my Entry & Exits target price levels. Said price levels are āmarket priceā, so as your broker market price hit those price levels you instantly enter a trade.
I still canāt get how you couldnāt trade retracement of Gbp/Usd at 1.5575/85, market price had marked 1.5579, you said it was 1.55774 for your broker so why dināt you simply buy, Retracement line was 1.5575/85, market price was 1.5579 or 77 for your broker, so how didnāt market price hit retracement line??!!
same for Euro/Jpy, retracement was 100.20/30 market price high for the day was 100.23, so clear sell, some few times you can enter few pips near retracement only if you had enough forex knowledge and experience so there would not be a miss of opportunity as happened sometimes with Euro/Usd due to powerful downtrend movement.
Anyway, Good Overall Understanding of my Signals and Analysis. Results showing How much Big Money is daily awaiting traders using my thread infoā¦
Best Luck Traders
Hello Jerry,
No problem, youāre free to say what you like & feel. Freedom of thought is granted on this threadā¦lol
A Real Trader must perfect or well understand retracement or swing strategy and breakout to maximize gains with low risk yoo.
Good Luck Jerry
Hello SHAZ1507,
Great to know that you gained Good Money today. Unfortunately Gbp/Usd came shy of retracement by 10 pips or gain could had been from retracement entry at 1.5535 to exit at 1.5405/10 or low at 1.5395/00 then came shy again at last target 1.5365/70 by only 5 pips this time(market price low for today is 1.5375). Anyway, I see exit at low 1.5395/00 was nearly Perfect & at 1.5405/10 was reasonable.
Enjoy your Weekend
Hi Hubinator
Could you explain how you use Bollinger Bands in conjunction with your breakout strategy, please with your charts.
With your charts, what time frame do you use? I have seen the charts that you posted earlier, they were 15 mins charts. Do you use 1 hr chart, 4 hr chart, or daily chart at all?
MM, please comment on this as well.
Thank you, have a good weekend.
Yup, you say it - you need enough forex knowledge and experience. Donāt forget Iām just in the beginning stage of understanding and applying your signals. I very well understand when to exit, but entries, hm, sometimes quite difficult to figure out. Let me post some examples you talked about:
As you can see, the rate did not fully touch the retracement line, so I was not sure what to expect next. MACD was negative although RSI was in oversold territory indicating a potential upward move.
Same with EUR/JPY. Not touching the retracement line, RSI>50 and MACD slightly positive, I wasnāt sure what to do as I was rather waiting for a long breakout instead of going short.
Well, maybe I give it a try and pre-program the entries in demo mode to test the behavior.
@penggang
Well, usually I use the 15 min chart as using this timeframe allows me to look back a little bit into the previous day. Sometimes I change to the 30 min chart, especially when the retracement line is too far away from the current price action and is therefore not visible.
As for using Bollinger Bands in conjunction with a breakout strategy just letās use the EUR/JPY image above. MM said he couldnāt quite get it why I didnāt enter the trade at the retracement line. As my image shows, the rate doesnāt fully touch the retracement line, so I wasnāt sure what to expect. Instead - and that is where Bollinger Bands come into the game, I rather prefer to wait for a clear confirmation of what direction the rate is going. So as for the EUR/JPY trade, a good and [B]clear[/B] opportunity to enter the trade (at least to me - lol) was when the rate would hit the lower Bollinger Band @ 99.71 which is depicted by the upper light green dotted line.
At exactly that moment, the RSI was <50, indicating a downward movement which was confirmed by the MACD histogram already being in negative territory.
So to me this was a good combination of clear indicator signals justifying a short trade on this pair.
Hi Hubinator
How do you determine where the retracement line is? And at the retracement line, how do you determine what direction it is going to go?
what time frame do you use for your charts? I have seen the charts that you posted earlier, they were 15 mins charts. Do you use 1 hr chart, 4 hr chart, or daily chart at all?
Hi ForexMoneyMaker
I am a newbie, Could you explain retracement, swing and breakout stretagies, please.
The retracement line is mentioned in the medium term signals. In the images I just posted itās the red thick line.
How do you determine what direction it is going to go? Lol! Thatās the magical question I simply donāt have an answer to. If I had, I knew exactly if I should enter a short or long trade at the retracement line. All I can do is take into account the current trend of the rate and - based on how the rate behaves at the retracement line - make a decision if to go short or long.
I was discussing this issue with MM lately as he didnāt fully understand why I didnāt enter some past trades. Letās wait if MM can clearify this, ok?
Hi mm
Firstly Thanku very much for helping newbies like myself with ur signals.
So jus a quick question to u and it might sound stupid. May I ask as far as ur concerned, shud I have waited for the trade to c if it would hit the retracement line??? And as it didnāt as am following ur strategy should I not have taken the trade?
Thanku