Forex Buy & Sell Trading Signals

[B]Results 12.01.[/B]

[B]USD/CHF[/B]
[B]Signal:[/B] This pair is still on uptrend, retracement at 0.9515/20, break is to our short term buy signals while on the upside toward high at 0.9565/70, above is powering the trend to our short term sell signals.
[B]Trade:[/B] Short with breaking the retracement lines. TP 2 @ 0.9440/45 reached for a profit of [B]+70 pips[/B].

[B]USD/JPY[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 76.85/90, break is to our short term sell signals while on the downside toward our short term buy signals and low is at 76.20/30.
[B]Trade:[/B] This pair broke the retracement lines downwards, but would soon change the direction to break the lines in an upward move, then go down to bounce up and down in between the lines before finally breaking the retracement lines for a clear downward movement. 1st short term buy level reached @ 76.70 for a profit of [B]+10 pips[/B].

[B]EUR/USD[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 1.2740/50, break is to our short term sell signals while on the downside toward low at 1.2660/70, break is powering the trend to target our short term buy signals.
[B]Trade: [/B] Long with breaking the retracement lines. 2nd short term sell signal @ 1.2845/50 missed for just a couple of pips, so I think a good exit was in the area of 1.2820/30 for a profit of [B]+80 pips[/B].

[B]GBP/USD[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 1.5390/00, break is to our short term sell signals while on the downside toward low at 1.5310/20, break is powering the trend toward our short term buy signals.
[B]Trade:[/B] No trade

[B]USD/CAD[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 1.0190/95, break is to 1.0230/35 then 1.0250/55 then 1.0290/95, while on the downside toward 1.0135/40 then 1.0110/15 then low at 1.0080/85.
[B]Trade:[/B] Short early in the Asian session with breaking the retracement lines. 1st TP level @ 1.0135/40 reached for a profit of [B]+50 pips[/B].

[B]NZD/USD[/B]
[B]Signal:[/B] This pair is still on uptrend, retracement at 0.7925/30, break is to 0.7905/10 then 0.7885/90, while on the upside toward high at 0.7990/95, above is powering the trend to target 0.8005/10 then 0.8035/40.
[B]Trade:[/B] Short with breaking the retracement lines, but without reaching a TP level. This pair immediately retraced to cross the retracement lines in an upward move and would remain slightly above this level but without reaching any TP level, so I rather count this trade as a loss of [B]ā€“10 pips[/B].

[B]EUR/CHF[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 1.2130/35, break is to 1.2145/55, above would target 1.2170/75, while on the downside toward low at 1.2105/15, break is to 1.2100 then 1.2090/95 then 1.2075/80.
[B]Trade:[/B] Early in the Asian session the rate almost hit the lower retracement line (1-2 pips shy) and then went down, so I count this as a valid short trade. TP 3 reached @ 1.2090/95 for a profit of [B]+40 pips[/B].

[B]GBP/CHF[/B]
[B]Signal:[/B] This pair is on downtrend basis today, below retracement at 1.4650/60, break is to 1.4710/15 then 1.4750/55 then 1.4785/90, while on the downside toward 1.4570/75 then 1.4545/50 then 1.4480/85.
[B]Trade:[/B] No trade

[B]EUR/GBP[/B]
[B]Signal:[/B] This pair is trying to base on uptrend today, above 0.8275/85 to target 0.8315/20 then 0.8325/30 then 0.8360/65, while on the downside toward 0.8240/45 then 0.8215/20 then 0.8195/00.
[B]Trade:[/B] Early in the Asian session this pair would go down a bit and almost touch the upper retracement line after having crossed the lines during the US session, so I count this as a valid long trade. TP 3 @ 0.8360/65 reached for a profit of [B]+80 pips[/B].
.
[B]AUD/USD[/B]
[B]Signal:[/B] This pair is still on uptrend, retracement at 1.0280/90, break is to 1.0255/60 then 1.0230/35 then 1.0205/10, while on the upsdie toward 1.0345/50 then 1.0365/70 then 1.0400/05.
[B]Trade:[/B] Long with touching the upper retracement line but without breaking the retracement level. TP 2 @ 1.0365/70 reached for a profit of [B]+80 pips[/B].

[B]EUR/JPY[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 97.95/00, break is to 98.40/45 then 98.75/80 then 99.15/20, while on the downside toward 97.10/15 then low at 96.85/90, break would power the trend to target 96.30/35.
[B]Trade:[/B] Long with breaking the retracement lines, hitting the 1st TP level @ 98.40/45 for a profit of [B]+40 pips.[/B]

[B]GBP/JPY[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 118.30/40, break is to 119.00/05 then 119.55/60 and possibly 120.05/10, while on the downside toward low at 117.30/35, below would power the trend to target 117.10/15 then 116.75/85.
[B]Trade: [/B]No trade

Valid trades for today:

USD/CHF = +70 pips
USD/JPY = +10 pips
EUR/USD = +80 pips
USD/CAD = +50 pips
NZD/USD = -10 pips
EUR/CHF = +40 pips
EUR/GBP = +80 pips
AUD/USD = +80 pips
EUR/JPY = +40 pips

Result for today: +440 pips
January: +2.940 pips


Consistent Good Work Hubinator

Remarks about above results:

Usd/Chf Exit must had been at 3rd TP 0.9405/10, market price marked 0.94105, and kept moving some minutes near 0.9410 so it would surely be smart to exit at that price level than waiting it to reverse up to 0.9440/45
Result: +100pips

Euro/Usd Exit must had been at 2nd sell target 1.2845/50(market price marked 1.28444 as high price of day), besides market price tested bt. 1.2840/44 2 or 3 times, so I think itā€™s more than enough for a Trader to exit there instead of waiting it go down to 1.2820, some 10-20 pips could be more gained at 1.2840/44 Result +100pips

Nzd/Usd break of retracement 0.7925/30, market price hit first target 0.7905/10(market price marked 0.7909),
not a big deal trade profit but as a Good Exit, result must be +10/15 pips

Keep The Good Workā€¦

Hello Traders,

Important Announcement for you:

I would save some valuable time this weekend to work on introducing a new style of analysis for Medium Term Strategy to be available at Start of Next Week.

More Direct Entries & Exits for all traders especially Newbies to more understand how my strategies work & to easily use them to trade.

Iā€™ll try to make it more simple for all to well absorb the main idea, so it would be a mixture of pure Forex language and easy understandable normal language that can be understood by allā€¦

Ofcourse, that do not mean traders must not learn rightfully Swing & breakout strategies since by understanding of both youā€™ll find yourself Gaining Big Money easily with My Daily Signals & Analysis.

As Traders know that in Forex Trading most expert traders say that exits are the most difficult part of trading and if you nearly perfect them then youā€™ll be achieving the biggest step, but with ForexMoneyMaker Exits are the easiest part of forex trading with clear accurate price levels for exits.
You just have to pay some focus & attention to entries at retracement levels, so you enter right as swing or breakout without being caught in a false breakout situation or not valid swing trading at retracement levels.

**Quick tips to refresh minds about Medium Term Daily Analysis Exits:

Other than the clear 3 targets said for each pair on both sides(up/downside), traders must well remember that as Gain becomes 50 pips you turn TP bt. 20-50 pips while price is heading to 100 pips then you turn it bt. 50-100 while price is heading to 150 pips. Mainly as a daily profit 150 pips would basically be around the last or 3rd said target for each pair as itā€™s compatible with max. daily range for all pairs.
Certainly some pairs have much lower daily range as Usd/Jpy, Euro/Gbp, Euro/Chf and sometimes other pairs might make a bigger boost as up to 200-250 or even 300 pips in a very powerful trend movement reflecting some crucial news releases.
So, as you follow the TP strategy you must not find yourself in a loss situation after 50 pips being target.
As said, some pairs might need to reach third target to hit the 50 pips gain, so in such case of those pairs you follow the 3 targets price levels for exit.
Also, Important to know that the strategy Stop Loss is at 50pips, you can surely exit in bt. breakeven or 0-50 pips especially when you nearly master or well understand swing & breakout strategies, youā€™ll be able to quickly change your trade by exiting a current strategy to follow the other successful one as you read price action favoring the other strategy for any pair & at any day

Besides, The said 3 targets for each pair can be used as SL, for example if usdchf was in uptrend and you entered at retracement a buy order but market price broke the retracement level while you have no clue if this is a breakout strategy or price would bounce back again as false breakout would occur, instead price keep going down, in such case if you see yourself holding a loss trade, you quickly think of exit at first buy signal(in above usdchf uptrend case) or if the first buy signal or target is more than 50 pips then you exit at 50. Sometimes, if first signal or target is below 50 pips you can wait for a reversal that might occur at first signal or target so you close later on at small loss or even Good Gain if price kept reversing to above retracement level(for usdchf above example).

On this same part, Perfect trading can be as start of a new trend movement as had been recently(1 - 2 & more weeks ago for Gold & Oil, while on the forex part for eurogbp(also perfect start of uptrend yesterday), Usd/chf, usdcad, eurochf, gbpusd, eurousdā€¦mainly allā€¦lol

As you realized some pairs had been on same powerful up/downtrend movement from 1 past month and more, so if you are a Real Medium & Long Term Trader who would start with the trend and exit at reversal or new trend start then you can perfectly apply the TP of 50 then 100 then 150 then 200 pips and so on till reversal appear(as I daily mention here for each pair) while stop loss would be bt. 50-100 pips from start of trend then youā€™ll move SL to become TP as mentioned above(for example after 100 pips being target you move SL to 50, while if 250 you move it to 200ā€¦)

Certainly, I did not forget Short Term Traders or Scalping Traders, as they must well remember that TP is bt. 10-30 as a basic rule and if compatible with Medium Term Daily Analysis reversal price level or high/low it can reach up to 100 pips and above as many traders using my Short Term Signals experienced many timesā€¦
Stop Loss is basically at 30 pips with max. 50 pips if a Trader see that market price would reverse before targeting the 50 pipsā€¦
With a Very Important Rule for this strategy that say you do not enter a trade if market price hit a price level few pips near our signals(buy/sell) price levels then bounce then at second test directly target our signals
In such case, you do not enter at that signal but save your entry for the next signal(2nd or 3rd).
Mainly, This strategy is very easy to adapt with some cautious as mentioned above, especially when you see that thereā€™s a powerful flow or very high volatility occurring, so you quickly exit at 10 pips or save the trade for the next signal, because as you know this is a Bouncing or Countertrend Strategy which would gain you Quick pips in few minutes & sometimes seconds.

In General, For both strategies even if you would not like to let profit run too much and prefer to exit at Good pips despite that this would not be adapting the main rule of my strategies for exit but itā€™s surely up to the Trader choice especially if you can do the same for different pairs for example gaining fast 20-50 pips each especially that most of times for example market price for any pair would mainly bounce 20 pips least after hitting retracement level as if itā€™s short term strategy if you would not like to wait too long in the market for said targets to be hit, so you would end the day with Good Total Pips but in such case must take note that your SL must be much tighter compared to lower TP.

Whatever you do, you would be in a Win Win Win Trade with ForexMoneyMaker

I advice all traders to learn Good Money Management before entering any trade and even before opening any new account with any broker because GMM makes all the difference and adds to the best overall equation.

Looking to all Traders liking my New style of posting on this thread starting from Next Monday.

Enjoy Your Weekend

Thanks for putting we newbies into consideration. I think i should be able to use your analysis effectively now. Keep up the good work.

FMM

As you said above, how to determine entries at retracement levels?

I got caught few times by false signals at retracement level, for example, I saw the price broke the two resistance levels at retracement, and I bought, but before touching the short term sell signal, the price went all the way down to the third short term buy signal, and I lost some pips.

Could you please explain in detail how we can avoid getting cought by false signal at retracement level? What indicator we can use, and how to use them effectively?

Thanks for all your hard work. Much appriciated.

Enjoy your weekend, look forward to seeing your new strategies on Monday.

[B]Results 13.01.[/B]

[B]USD/CHF[/B]
[B]Signal:[/B] This pair reversed trying to base on downtrend today, if bases below 0.9460/70 targetting high at 0.9550/55, above would power the revived uptrend toward the other 2 short term sell signals while on the downside toward our short term buy signals.
[B]Trade:[/B] Long with breaking the retracement lines, hitting the 1st short term sell level @ at 0.9550/55 for a profit of [B]+80 pips[/B].

[B]USD/JPY[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 76.80/85, break is to our short term sell signals while on the downside toward our short term buy signals and low is at 76.20/30.
[B]Trade:[/B] Early in the Asian session short with touching the lower retracement line but without reaching any TP level. A good exit was at the support 1 level @ 0.7670 as the pair would go up and down awhile this level and before finally taking a move up, so I think the short trade was good for +10 pips.
Later in the European session the pair broke the retracement lines upwards and triggered a valid long trade. 1st short term sell level @ 76.95/00 reached for a profit of +10 pips. Overall profit for this pair was [B]+20 pips[/B].

[B]EUR/USD[/B]
[B]Signal:[/B] This pair turned to neutral today but still with downtrend basis, kept base below 1.2830/40 & more importantly if then bases below 1.2785/90 would keep the downtrend to target our short term buy signals while above 1.2830/40 would target our short term sell signals.
[B]Trade:[/B] Long with breaking the upper retracement line, but without reaching a TP level. High was @ 1.2876, so when this pair moved down one could have escaped with a small profit of +20 pips. Later the pair broke the level @ 1.2785/90, reaching the 2nd short term buy level @ 1.2640/45 for a profit of +140 pips; so the overall profit for this pair is [B]+160 pips[/B].

[B]GBP/USD[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 1.5365/75, break is to our short term sell signals while on the downside toward our short term buy signals and low is at 1.5285/90.
[B]Trade:[/B] Long with breaking the retracement level upwards, but a couple of pips short of hitting the 2nd short term buy level @ 1.5410/15, I think a profit of +20 pips was possible. The pair would then immediately start a strong downward movement, break the retracement level and move all the way down to the 2nd short term buy level @ 1.5235/40 for a nice profit of +120 pips. Oravll profit is [B]+140 pips[/B].

[B]USD/CAD[/B]
[B]Signal:[/B] This pair is mixed moving sideways, a base above 1.0180/85 is toward 1.0230/35 then 1.0250/55 then 1.0290/95, while a base below is toward 1.0130/35 then 1.0105/10 then 1.0075/80.
[B]Trade:[/B] Short with breaking the retracement level, but not reaching any TP level. This pair was ranging between 1.0160 and the retracement level for no gain at all. Later it broke the retracement level upwards, for a valid long trade (breakout) that hit the 2nd TP level @ 1.0250/55 for a profit of [B]+70 pips[/B].

[B]NZD/USD[/B]
[B]Signal:[/B] This pair is still on uprend, retracement at 0.7925/30, break is to 0.7890/95 then 0.7865/70 then 0.7830/35, while on the upside toward 0.7975/80 then 0.8010/15 then 0.8045/50.
[B]Trade:[/B] We had three valid trades for this pair:

  1. Short with breaking the retracement lines downwards, hitting the first TP level @ 0.7890/95 for a profit of +20 pips.
  2. Long with breaking the retracement lines, but without hitting any TP level. High was @ 0.7951, so that I think a profit of +20 pips was possible.
  3. Short with breaking the retracement lines for a clear short breakout. TP level 3 @ 0.7830/35 reached for a profit of +100 pips.
    Overall profit: [B]+140 pips[/B].

[B]EUR/CHF[/B]
[B]Signal:[/B] This pair is still on downtrend, broke yesterday below 1.2100 but then opened a new daily candle above, retracement at 1.2110/15, break is to 1.2130/35 then 1.2145/50 then 1.2165/70, while on the downside toward low at 1.2090/95, below would target 1.2070/75 then 1.2060/65 then 1.2035/40.
[B]Trade:[/B] Long with breaking the retracement lines, but two pips short of hitting the 1st TP level @ 1.2130/35, so I count a max. profit of +10 pips for this trade.
Later we saw a clear short breakout, that would hit the 3rd TP level @ 1.2060/65 in a spike. Profit: +50 pips; overall [B]+60 pips. [/B]

[B]GBP/CHF[/B]
[B]Signal:[/B] This pair is still on downtrend since yesterday with a very powerful & successful start of trend, today retracement is at 1.4550/60, break is to 1.4630/35 then 1.4700/05 then 1.4765/70, while on the downside toward low at 1.4450/60, below would target 1.4375/80 then 1.4325/30 then possibly 1.4215/20.
[B]Trade:[/B] Long with breaking the retracement level, but not reaching any of the targeted TP levels. Daily high was @ 1.4607, so I think a profit of [B]+50 pips[/B] was possible.

[B]EUR/GBP[/B]
[B]Signal:[/B] This pair is still on uptrend started since yesterday successfully, today retracement at 0.8320/25, break is to 0.8285/90(yesterday start price of trend) then 0.8250/55 then low at 0.8215/25, while on the upside toward 0.8400/05 then high at 0.8425/30 then possibly 0.8475/80 powering the trend.
[B]Trade:[/B] Beautiful short trade with breaking the retracement level and reaching the 1st TP level @0.8285/90 for a profit of [B]+30 pips[/B].

[B]AUD/USD[/B]
[B]Signal:[/B] This pair is still on uptrend, retracement at 1.0300/10, break is to 1.0265/70 then 1.0240/45 then 1.0190/95, while on the upside toward 1.0390/95 then high at 1.0420/30, above would power the trend to target 1.0470/75.
[B]Trade:[/B] Long with touching the lower retracement line and the going up, but not reaching any TP level. Daily high was @ 1.0364, so I think a profit of +50 pips was possible on this trade. Later we saw a clear short breakout, that hit the 2nd TP level @ 1.0240/45 for a profit of +60 pips. Overall: [B]+110 pips[/B].

[B]EUR/JPY[/B]
[B]Signal:[/B] This pair turned neutral but as Euro/Usd still with downtrend basis, kept base below 98.55/60 then more importantly a base below 98.20/25 would keep the downtrend targetting 97.60/65 then 97.25/30 then possibly 96.85/90, while a base above 98.55/60 is to target 98.85/90 then 99.05/10 then 99.60/65.
[B]Trade:[/B] Long with breaking the retracement levels, but not reaching any TP levels. High was @ 98.79, so a profit of +20 pips was possible.
Later there was a strong short breakout, that hit the TP level @ 97.25/30 for a profit of +90 pips.
Overall: [B]+110 pips[/B].

[B]GBP/JPY[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 118.00/10, break is to target 118.35/40 then 118.60/65 then 118.80/90, while on the downside toward 117.30/35 then 117.15/20 then to target low at 116.85/95(Buy) (alighning with current historic low at 116.95/00).
[B]Trade:[/B] Short with bouncing at the upper retracement line and then going down to reaching TP level @ 117.30/35 for a profit of [B]+70 pips[/B].

Valid trades for today:

USD/CHF = +80 pips
USD/JPY = +20 pips
EUR/USD = +160 pips
GBP/USD = +140 pips
USD/CAD = +70 pips
NZD/USD = +140 pips
EUR/CHF = +60 pips
GBP/CHF = +50 pips
EUR/GBP = +30 pips
AUD/USD = +110 pips
EUR/JPY = +110 pips
GBP/JPY = +70 pips

Result for today: +1040 pips
January: +3.980 pips

Hm,

I wonder if it is corrrect to speak of ā€œfalseā€ signals. The signals themselves are ā€œneutralā€ and just indicate a range of price action that needs to be broken in order to get a clear idea what direction the market is heading to. But I agree that it is sometimes very difficult to find the right entry. I strongly recommend using a live news ticker when trading, so one gets informed about all the rumors out there.

But just letā€™s wait to what extend FMM will modify the signals.

Have a good weekend!

Hi Hubinator

It seems that you are always right where is price is heading to at the retracement level.

As I said above, sometimes, you see the price breaks both resistance lines at retracement level, but before it touches the first short term sell signal, it goes all the way down to the third buy signal. I have seen your posts that when you see the price breaks both resistance lines, you buy.

How do you know which direction the price is going exactly? Could you please explain your strategy? How can you never get cought by false signals? I think all the followers in this thead are very interested in knowing including FMM, I would imagine!

Hi,

you have to keep in mind that the results I post are hypothetical results. I just analyze the signals and check what would have happened if I had traded according to the strategy. Iā€™m not capable of trading [B]all[/B] pairs at once - thatā€™s simply too much for me right now.

However, even if one takes the trades according to the signals, the trades donā€™t always move into a clear direction, like we saw yesterday with all the USD related currency pairs. So, I use RSI and MACD to confirm my entries and to indicate when better get out of a trade. I figured out that in almost any case you will be able to get out at break even or a minimum loss if a trade doesnā€™t develop to your favor.

Iā€™m still struggling to find the right entries; I wish they were always as easy and clear as yesterdayā€™s first AUD/USD trade that hit the lower retracement line to then bounce up and make an upward movement.

I guess we all have to practice and learn how to apply these signals best.

Hello Traders,

It seems that I must repeat or reassure how much important for all traders to learn ā€œSwing & Breakout Tradingā€ with also ā€œPrice Actionā€ to best use my analysis. If you just go learn those strategies instead of continously asking me how you can know if you buy/sell at retracement or breakout strategy. Save the Time & Go Learn Read Read Read, and for your luck you can find such info for free about those strategies. I canā€™t make commercials here for books or sites but if you well search you can easily find, so stop asking and learn to read.

Anyway, I like to help you all with this start process by showing you below(within the charts) some tips as how to better trade my Medium Term Daily Analysis Profitably but itā€™s surely not enough but just a start because you have lot of things to still learn and no more than experiencing from your mistakes after you trade trade trade(starting with a demo account) would make from you a better trader.

Itā€™s not a magical pill that you take at night and wake up being a Perfect Trader at morning.

I would show you a mixture of my trading strategy daily analysis and the beauty of some price action reading.

I will also show some indicators that can be simply used by any trader since itā€™s found in any broker mt4, made it easy with default settings for the indicators with no designing inside the charts so it can be more realistic compared to any trader broker mt4 indicators.

As you well see & realize how My Daily Analysis are even more important than the indicators itself, as my Medium Term Daily Analysis provide you with clear very accurate info for all 12 pairs we trade before many hours than market price targetting it, while indicators can be only a bonus or plus confirmation in my own opinion & sometimes they can not give right or clear clues or hints that this is the right entry or exit since it might be somehow late by 1-2 candles despite being right at exact candle sometimes.

But My Main Idea here, is that as to best apply my strategy I prefer my analyzed info for each pair with price action as best combination(take note that my analysis for each pair is the most important part of all with no arrogance ofcourseā€¦lol) than all indicators that are surely good especially with special tweak of it from my side as my years of experience learnt me to do according to my trading style preference, but traders can use any method they like, the importance is in the final result. My preference might be something while yours another thing but we might meet at same or near same result at end, ofcourse if you play or trade it right like I doā€¦

So, I used 4 popluar indicators found in any broker mt4 to show you how sometimes within same timeframe and pair, it might differ in time of confirmation bt. indicator and another, also same indicator can give you one right entry but not clear exit and vice versa for another indicator

Certainly, there are many many things that you must more learn but as for a start the following must much help you.

Lets start with showing you Aud/Usd Friday(13th January 2012) Successful trading at both sides, Swing(retracement) then Breakout Strategyā€¦to then show you Usd/Chf Successful Breakout Strategy:


You can see in the above chart tips for both retracement and breakout strategies.

As I believe the picture would make all the speaking here.


Here you see more deep details on other time frame-the 5minute chart and again picture speaks
Besides, it show you how to keep profit running bt. 1st target TP and the other by continuous breakout confirmation of each level.


Here you can clearly see how different indicators can have vary entries and exits despite still helpful.


Here the Usd/Chf Successful breakout as the picture talks by itself with tips adding to the overall equationā€¦

My Art Skills are not very nice to say the leastā€¦lol Arts & Painting are not my profession and it took me lot of my valuable time more than the analysis itself doā€¦but youā€™ll surely understand the main idea and it must be very helpful for you but do not dare to ask for more chartsā€¦lol

Till Monday Market Open by 1-2 hours for new style of analysis with more direct entry/exit simple language especially for newbies to well understand and Gain Moneyā€¦ The little more learning & application would be on your side to achieveā€¦

Enjoy Your Day

Hello Traders,

Forex Signals & Analysis for 16th January 2012:

Short Term Signals:

Usd/Chf Buy at 0.9390/95 then 0.9330/35, sell at 0.9620/25 then 0.9665/70

Usd/Jpy Buy at 76.65/70 then 76.50/55 then 76.35/40, sell at 77.10/15 then 77.20/25 then 77.40/45

Euro/Usd Buy at 1.2535/40 then 1.2470/75, sell at 1.2880/85 then 1.2980/85

Gbp/Usd Buy at 1.5195/00 then 1.5140/45 then 1.5050/55, sell at 1.5435/40 then 1.5495/00 then 1.5580/85

Medium Term Daily Analysis:

Usd/Chf This pair is still on uptrend, retracement at 0.9510/20. Buy order as Swing Trading at 0.9510/20 with TP1 at 0.9585/90 TP2 at 0.9620/25 TP3 0.9665/70,
while sell order as breakoutout strategy at 0.9510/20 with TP1 at 0.9420/30 TP2 at 0.9390/95 TP3 0.9330/35

Usd/Jpy This pair is on uptrend basis today with overall sideways movement, retracement at 76.85/95. Buy order as Swing Trading at 76.85/95 with TP1 77.10/15 Tp2 77.20/25 TP3 77.40/45,
while sell order as breakout strategy at 76.85/95 with TP1 76.65/70 TP2 76.50/55 TP3 76.35/40

Euro/Usd This pair is still on downtrend, retracement at 1.2700/10. Buy order as breakout strategy at 1.2700/10 with TP1 1.2785/90 TP2 1.2880/85 TP3 1.2980/85,
while sell order as Swing Trading at 1.2700/10 with TP1 at low 1.2600/10 TP2 powering the trend at 1.2535/40 TP3 1.2470/75

Gbp/Usd This pair is still on downtrend, retracement at 1.5330/40. Buy order at 1.5330/40 as breakout Strategy TP1 1.5435/40 TP2 1.5495/00 TP3 1.5580/85
while sell order as Swing Trading at 1.5330/40 with TP1 at low 1.5250/60 TP2 powering the trend to 1.5195/00 TP 3 1.5140/45 and possibly TP4 1.5050/55

Usd/Cad This pair is on uptrend basis today, retracement at 1.0210/20. Buy order as Swing Trading at 1.0210/20 with TP1 at 1.0305/10 TP2 at 1.0345/50 and possibly to TP3 at 1.0405/10,
while sell order as breakout strategy at 1.0210/20 with TP1 at 1.0140/45 TP2 1.0100/05

Nzd/Usd This pair is still on uptrend, retracement at 0.7920/25. Buy order as Swing Trading at 0.7920/25 with TP1 0.7985/90 TP2 0.8010/15 and possibly to TP3 0.8065/70,
while sell order as breakout strategy at 0.7910/20 with TP1 at 0.7865/70 TP2 0.7830/35 and possibly to TP3 at 0.7795/00

Euro/Chf This pair is still on downtrend, retracement at 1.2090/00. Buy order as breakout strategy at 1.2090/00 with TP1 at 1.2125/30 TP2 at 1.2150/55 TP3 at 1.2175/80,
while sell order as Swing Trading at 1.2090/00 with TP1 at low 1.2060/65 TP2 powering the trend to 1.2030/35 TP3 at 1.2015/20 then TP4 we go to our homes(if we would still have ones) barely wearing our underwears(more interesting for ladies)ā€¦LOL at 1.1975/80 or Being Rich in minutes with SNB Interventionā€¦

Gbp/Chf This pair is still moving sideways with downtrend basis, retracement at 1.4615/25. Buy order as Breakout Strategy at 1.4615/25 with TP1 at 1.4640/50 TP2 at 1.4665/70 TP2 1.4705/10 and possibly to TP3 1.4805/10, while sell order at 1.4615/25 as Swing Trading with TP1 at low 1.4475/85 TP2 is powering the trend to 1.4435/40 TP3 at 1.4370/75

Euro/Gbp This pair is on downtrend basis today, retracement at 0.8280/90. Buy order as breakout strategy at 0.8280/90 with TP1 at 0.8315/20 TP2 at 0.8370/75 TP3 0.8415/20, while as swing trading sell order at 0.8280/90 with TP1 at low 0.8215/25 TP2 powering the trend to 0.8190/95 then possibly to TP3 at 0.8120/25

Aud/Usd This pair is on downtrend basis today, retracement at 1.0300/10. sell order as swing strategy at 1.0300/10 with TP1 at 1.0215/20 TP2 at 1.0170/75 and possibly to TP3 at 1.0105/10, while as nreakout strategy trading buy order at 1.0300/10 with TP1 at 1.0400/05 TP2 1.0440/45

Euro/Jpy This pair is still on downtrend, retracement at 97.70/80. As Breakout Trading Buy order at 97.70/80 with Tp1 at 98.25/35 TP2 at 98.80/85 TP3 at 99.45/50, while as swing trading sell order at 97.70/80 with TP1 at 96.60/65 TP2 at low 96.20/30 TP3 powering the trend possibly to 95.25/30

Gbp/Jpy This pair is still on downtrend, retracement at 117.85/95. Buy order as breakout strategy at 117.85/95 with TP1 at 118.35/40 TP2 at 118.65/70 TP3 at 119.10/15, while as swing trading sell order at 117.85/95 with TP1 at 117.10/15 TP2 at 116.80/90(around current historic low) and possibly to TP3 at low 116.60/70 then powering the trend to TP4 at 116.35/45

Oil is still on downtrend, retracement at 99.65/70. As breakout trading buy order at 99.65/70 with TP1 at 100.80/85 TP2 101.55/60, while as swing trading sell order at 99.65/70 with TP1 at 97.40/45 TP2 at 96.50/55 TP3 at low 96.00/10 TP4 is powering the trend to 95.35/40

Gold is still on uptrend, retracement at 1626/27. Buy order as swing trading at 1626/27 with TP1 at 1654/55 TP2 at high 1661/62 TP3 is powering the trend to 1674/75, while as breakout strategy trading sell order at 1626/27 with TP1 at 1621/22 TP2 1613/15 TP3 1601/02

***Take Note Traders that this Medium Term Strategy have TP starting at 50 pips or Take Profit 1(TP1) with SL Starting at 50 pips or TP1 of the opposite trading strategy which mean if you are trading the swing trading strategy SL would be 50 pips or TP1 of the breakout trading strategy but as I tried to help you with the previous post trading tips, you would not need even 50 pips to close a wrong order if you had entered one but instead you can close at small loss and turn your strategy to the winning one(opposite).
Anyway. Trading then Trading then Trading would grow your experience more and more and moreā€¦

**No Important News Releases for today but we have for the Aussie Currency after some hours from now AUD Home Loans Buy Aud/Usd if 1.2% or above while sell if 0.8% or below.
Also, We have in late hours today approximately before Newyork session close by 2 hours ECB President Mario Draghi would speak

I liked to introduce new style of analysis reading & trading especially for newbies to better understand. If Most Traders see it as helpful would be Great, this is what I am looking for, while if you prefer the previous style then also Great youā€™ll save lot of my time adapting to new styleā€¦LOL

Any Suggestions, Questions & Opinions are Welcome.

Have A Great Trading Day

Thanks for the analysis. Am a newbie and i found this new style better cos i can read and understand. Please keep it up.

Hi. Your analysis is very clear and very easy to understand. Thanks very much for sharing it with us.

Hello Muyique, David & All Traders,

Itā€™s Great to Read that youā€™re seeing my Daily Signals & Analysis as helpful & more clear yesterday, today & tomorrowā€¦

Looking to you Gaining Big Consistent Money with Low Risk as adapting my strategies accurately in terms of TP & SL.

Best Luck

Hello Traders,

Forex Signals & Analysis for 17th January 2012:

Short Term Signals:

Usd/Chf Buy at 0.9510/15 then 0.9500/05 then 0.9480/85, sell at 0.9570/75 then 0.9585/90 then 0.9600/05

Usd/Jpy Buy at 76.55/60 then 76.45/50 then 76.25/30, sell at 77.05/10 then 77.20/25 then 77.35/40

Euro/Usd Buy at 1.2620/25 then 1.2595/00 then 1.2570/75, sell at 1.2700/05 then 1.2720/25 then 1.2755/60

Gbp/Usd Buy at 1.5265/70 then 1.5240/45 then 1.5205/10, sell at 1.5370/75 then 1.5390/95 then 1.5435/40

Medium Term Daily Analysis:

Usd/Chf This pair is still on uptrend, retracement at 0.9525/30, high is at 0.9590/95 Buy order as Swing Trading at 0.9525/30 TP1 0.9570/75 TP2 0.9585/90 TP3 0.9600/05,
while as breakout trading sell order at 0.9525/30 with TP1 at 0.9510/15 TP2 0.9500/05 TP3 0.9480/85

Usd/Jpy This pair is moving sideways. Sell order at 76.80/85 with TP1 76.55/60 TP2 76.45/50 TP3 76.25/30, buy order at 76.80/85 with TP1 77.05/10 TP2 77.20/25 TP3 77.35/40

Euro/Usd This pair is still on downtrend, retracement at 1.2690/00, low is at 1.2585/95 Buy order as breakout trading at 1.2695/05 with TP1 1.2720/25 TP2 1.2755/60,
while as swing trading sell order at 1.2690/00 with TP1 1.2620/25 TP2 1.2595/00 TP3 1.2570/75

Gbp/Usd This pair is still on downtrend, retracement at 1.5335/45 and low at 1.5240/50. As breakout trading buy order at 1.5335/45 with TP1 at 1.5370/75 TP2 1.5390/95 TP3 1.5435/40,
while as swing trading sell order at 1.5335/45 with TP1 at 1.5265/70 TP2 1.5240/45 TP3 1.5205/10

Usd/Cad This pair is moving sideways, with low at 1.0110/20 and high at 1.0275/85. Buy order at 1.0195/00 with TP1 1.0250/55 TP2 1.0285/90 TP3 1.0315/20, while sell order at 1.0190/95 with TP1 1.0130/35 TP2 1.0110/15 TP3 1.0055/60

Nzd/Usd This pair is still on uptrend, retracement at 0.7925/30. Buy order as swing trading with TP1 at 0.7970/75 TP2 0.7985/90 TP3 0.8010/15, while as breakout trading sell order at 0.7925/30 with TP1 at 0.7900/05 TP2 0.7885/90 TP3 0.7860/65

Euro/Chf This pair is still on downtrend, retracement at 1.2090/00 with low at 1.2060/65. Buy order as breakout trading at 1.2090/95 TP1 1.2105/10 TP2 1.2115/20 TP3 1.2130/35, while as swing trading sell order at 1.2090/95 with TP1 1.2055/60 TP2 1.2045/50 TP3 1.2030/35

Gbp/Chf This pair is still on downtrend, retracement at 1.4645/55. As breakout trading buy order at 1.4645/55 with TP1 at 1.4675/80 TP2 1.4710/20 TP3 at high 1.4760/70, while as swing trading sell order at 1.4645/55 with TP1 1.4565/70 TP2 1.4545/50 TP3 1.4515/20

Euro/Gbp This pair is still on downtrend, retracement at 0.8270/80. Buy order as breakout trading at 0.8270/80 with TP1 0.8295/00 TP2 0.8305/10, while as breakout trading sell order at 0.8270/80 with TP1 at 0.8245/50 TP2 0.8235/40 TP3 at low 0.8215/25

Aud/Usd This pair is still on downtrend, retracement at 1.0300/10. Buy order as breakout trading at 1.0300/10 TP1 1.0360/65 TP2 1.0380/85 TP3 1.0430/35, while as swing trading sell order at 1.0300/10 with TP1 1.0245/50 TP2 at 1.0215/20 TP3 1.0180/85

Euro/Jpy This pair is still on downtrend, retracement at 97.50/55. Buy order as breakout trading at 97.50/55 with TP1 97.60/65 TP2 97.80/85 TP3 98.00/05, while as swing trading sell order at 97.50/55 with TP1 at 96.95/00 TP2 96.80/85 TP3 96.60/65 while low is at 96.10/20.

Gbp/Jpy This pair is still on downtrend, retracement at 117.75/85. Buy order as breakout trading at 117.75/85 with TP1 at 117.95/00 TP2 118.20/25 TP3 118.40/50, while as swing trading sell order at 117.75/85 with TP1 at 117.30/35 TP2 117.15/20 TP3 116.95/00

Oil is still on downtrend, retracement at 99.75/80. Buy order as breakout trading at 99.75/80 with TP1 at 100.20/25 TP2 100.55/60 TP3 101.25/30, while as swing trading sell order at 99.75/80 with TP1 at 98.60/65 TP2 98.10/15 TP3 97.65/70

Gold is still on uptrend, retracement at 1640/41. As breakout trading sell order at 1640/41 with TP1 1630/31 TP2 1624/25 TP3 1618/19, while buy order as swing trading at 1640/41 with TP1 at 1652/53 TP2 1656/57 TP3 1665/66

We have Important news releases today for the Sterling, Euro, & Canadian Dollar Currencies:

-UK CPI: Buy Gbp/Usd if 4.4% or above while sell if 4.0% or below. Also BOE Governor King would talk so market should react with good volatility according to his speech contents.

  • Euro German ZEW Economic Sentiment: Buy Euro/Usd if -47% or much better while sell if -52% or much worse

  • CAD BOC Rate Statement: Buy Usd/Cad if interest rate is decreased from current 1.00% to 0.75% or/& statement is dovish while sell if increased to 1.25% and statement is hawkish

*** I feel some volatility & flow in Chf pairs, maybe something is being cooked by SNB. I might be wrong but itā€™s never wrong to buy Euro/Chf at current price levels(only below 100 pips from SNB 1.20 Peg and especially if market price goes back to our TP buy targets) just keep Good Money Management with right lot size according to your account size, do not go Mad Crazy Greedy buying with non stop amounts seeing an Intervention as a soon meatā€¦lol

Have A Great Trading Day

[B]Results 16.01.[/B]

[B]USD/CHF[/B]
[B]Signal:[/B] Usd/Chf This pair is still on uptrend, retracement at 0.9510/20. Buy order as Swing Trading at 0.9510/20 with TP1 at 0.9585/90 TP2 at 0.9620/25 TP3 0.9665/70, while sell order as breakoutout strategy at 0.9510/20 with TP1 at 0.9420/30 TP2 at 0.9390/95 TP3 0.9330/35.
[B]Trade:[/B] Long early in the Asian session when this pair touched the upper retracement line and then went up. No TP level reached, but I think a good exit was around the daily Pivot line @ 0.9544 as this pair would cross this line in both directions several times for a profit of [B]+20 pips[/B].

[B]USD/JPY[/B]
[B]Signal:[/B] This pair is on uptrend basis today with overall sideways movement, retracement at 76.85/95. Buy order as Swing Trading at 76.85/95 with TP1 77.10/15 Tp2 77.20/25 TP3 77.40/45, while sell order as breakout strategy at 76.85/95 with TP1 76.65/70 TP2 76.50/55 TP3 76.35/40.
[B]Trade:[/B] Short with crossing the lower retracement line. Shy of reaching TP1 for about 5 pips, so when this pair moved up a little there was a good chance to exit around 76.75 for a profit of +10 pips, but I rather count this one as a break even trade.

[B]EUR/USD[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 1.2700/10. Buy order as breakout strategy at 1.2700/10 with TP1 1.2785/90 TP2 1.2880/85 TP3 1.2980/85, while sell order as Swing Trading at 1.2700/10 with TP1 at low 1.2600/10 TP2 powering the trend at 1.2535/40 TP3 1.2470/75.
[B]Trade:[/B] No trade

[B]GBP/USD[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 1.5330/40. Buy order at 1.5330/40 as breakout Strategy TP1 1.5435/40 TP2 1.5495/00 TP3 1.5580/85 while sell order as Swing Trading at 1.5330/40 with TP1 at low 1.5250/60 TP2 powering the trend to 1.5195/00 TP 3 1.5140/45 and possibly TP4 1.5050/55.
[B]Trade:[/B] Not sure what to post here. This pair touched the lower retracement line 3 times, but only in a spike, so I donā€™t consider these movement as valid signals. Later in the European session it slightly crossed the lower retracement line but would then go down a little bit again. Low at this point was the daily Pivot @ 1.5318, so I think I rather count this trade as a break even one.

[B]USD/CAD[/B]
[B]Signal:[/B] This pair is on uptrend basis today, retracement at 1.0210/20. Buy order as Swing Trading at 1.0210/20 with TP1 at 1.0305/10 TP2 at 1.0345/50 and possibly to TP3 at 1.0405/10, while sell order as breakout strategy at 1.0210/20 with TP1 at 1.0140/45 TP2 1.0100/05.
[B]Trade:[/B] Short with crossing the retracement lines. No TP reached, low was in the area of 1.0160, so I think a profit of [B]+40 pips[/B] could have been achieved.

[B]NZD/USD[/B]
[B]Signal:[/B] This pair is still on uptrend, retracement at 0.7920/25. Buy order as Swing Trading at 0.7920/25 with TP1 0.7985/90 TP2 0.8010/15 and possibly to TP3 0.8065/70, while sell order as breakout strategy at 0.7910/20 with TP1 at 0.7865/70 TP2 0.7830/35 and possibly to TP3 at 0.7795/00.
[B]Trade:[/B] Long with breaking the retracement lines early in the Asian session, but without reaching a TP level. High was @ 0.7963, so I think this trade was good for a profit of [B]+30 pips[/B].

[B]EUR/CHF[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 1.2090/00. Buy order as breakout strategy at 1.2090/00 with TP1 at 1.2125/30 TP2 at 1.2150/55 TP3 at 1.2175/80, while sell order as Swing Trading at 1.2090/00 with TP1 at low 1.2060/65 TP2 powering the trend to 1.2030/35 TP3 at 1.2015/20 then TP4 we go to our homes(if we would still have ones) barely wearing our underwears(more interesting for ladies)ā€¦LOL at 1.1975/80 or Being Rich in minutes with SNB Intervention.
[B]Trade:[/B] Short with slightly crossing the lower retracement line and then going down. No TP level reached. Low for this trade was slightly below the daily Pivot @ 1.2082, so a maximum of +10 pips profit for this one but I rather count this as a break even trade as well.

[B]GBP/CHF[/B]
[B]Signal:[/B] This pair is still moving sideways with downtrend basis, retracement at 1.4615/25. Buy order as Breakout Strategy at 1.4615/25 with TP1 at 1.4640/50 TP2 at 1.4665/70 TP2 1.4705/10 and possibly to TP3 1.4805/10, while sell order at 1.4615/25 as Swing Trading with TP1 at low 1.4475/85 TP2 is powering the trend to 1.4435/40 TP3 at 1.4370/75.
[B]Trade:[/B] Short with touching the upper retracement line and then going down. No TP level hit, this pair would soon go up again for no gain at all.

[B]EUR/GBP[/B]
[B]Signal:[/B] This pair is on downtrend basis today, retracement at 0.8280/90. Buy order as breakout strategy at 0.8280/90 with TP1 at 0.8315/20 TP2 at 0.8370/75 TP3 0.8415/20, while as swing trading sell order at 0.8280/90 with TP1 at low 0.8215/25 TP2 powering the trend to 0.8190/95 then possibly to TP3 at 0.8120/25.
[B]Trade:[/B] Short early in the Asian session with breaking both retracement lines. No TP level hit, this pair saw a daily low around 0.8255, would then go up to bounce against the lower retracement line and go down again for 10 pips. I think a profit of [B]+10 pips[/B] was possible with either one of the two trade opportunities.

[B]AUD/USD[/B]
[B]Signal:[/B] This pair is on downtrend basis today, retracement at 1.0300/10. sell order as swing strategy at 1.0300/10 with TP1 at 1.0215/20 TP2 at 1.0170/75 and possibly to TP3 at 1.0105/10, while as nreakout strategy trading buy order at 1.0300/10 with TP1 at 1.0400/05 TP2 1.0440/45.
[B]Trade:[/B] Short early in the Asian session, but no TP level hit. Low was aroung 1.0254, so I think this trade was good for +40 pips. Later this pair broke the retracement level upwards, but again without reaching a TP level. High for this trade was around 1.0335, so one could have made +20 pips on this one. Overall I count a profit of [B]+50 pips[/B] for this pair.

[B]EUR/JPY[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 97.70/80. As Breakout Trading Buy order at 97.70/80 with Tp1 at 98.25/35 TP2 at 98.80/85 TP3 at 99.45/50, while as swing trading sell order at 97.70/80 with TP1 at 96.60/65 TP2 at low 96.20/30 TP3 powering the trend possibly to 95.25/30.
[B]Trade:[/B] No trade

[B]GBP/JPY[/B]
[B]Signal:[/B] This pair is still on downtrend, retracement at 117.85/95. Buy order as breakout strategy at 117.85/95 with TP1 at 118.35/40 TP2 at 118.65/70 TP3 at 119.10/15, while as swing trading sell order at 117.85/95 with TP1 at 117.10/15 TP2 at 116.80/90(around current historic low) and possibly to TP3 at low 116.60/70 then powering the trend to TP4 at 116.35/45.
[B]Trade:[/B] No trade

Valid trades for today:

USD/CHF = +20 pips
USD/CAD = +40 pips
NZD/USD = +30 pips
EUR/GBP = +10 pips
AUD/USD = +50 pips

Result for today: +150 pips
January: +4.130 pips

First Off I want to thank FMM for this thread and for taking the time to post his signals and analysis. I know it takes a lot of time to do so, and it is appreciated! I just discovered this thread 3 days ago and I have actually read every post, which was no small task.

I am pretty new to Forex, so as requested by FMM, I have been trying to read up on Swing, Retracement and reversal trading as this certainly appears to be a huge factor and making these signals work. Obviously reading is one thing and practice and experience is another.

Hopefully I can post a few questions in this thread to help me learn. Any response from FMM or anyone else would be great. My questions are based on actual signals from FMM, so hopefully this will be ok

This questions relates to the Jan 17 AUD/USDSignal

Aud/Usd This pair is still on downtrend, retracement at 1.0300/10. Buy order as breakout trading at 1.0300/10 TP1 1.0360/65 TP2 1.0380/85 TP3 1.0430/35, while as swing trading sell order at 1.0300/10 with TP1 1.0245/50 TP2 at 1.0215/20 TP3 1.0180/85

A chart of the day so far is below


This pair has obviously broken out of its downtrend, unfortunately I wasnā€™t able to potentially get into the trade until it had already reached TP1. My question is, given the reversal, do I simply enter the trade at TP1 and set TP2 as my goal? As you can see TP2 was achieved and then it went down below TP2 for 6 bars. Once it starts up again, do I use TP2 as a retracement and buy into the uptrend again with TP3 as my goal?

I admit that when I see a retracement after a nice gain I have a hard time know when to get out. Seems like when I hold, I end up giving it all back, and when I sell, it keeps going up.

Also, when the price went back down through TP2, I assume most would have sold the pair at some point, and then bought again, once it was clear that it was continuing the uptrend. right?

Iā€™m sure these are simple questions, but just looking for some confirmation, that Iā€™m doing it right.

thanks!!

Mark

@ FMM,

hi, could you please tell me what time zone you live in? I need to know what time it would here in Germany once you post your signals. Unfortunately, I missed almost all of the entries today. So Iā€™m thinking about finding a way to pre-program the entries at night, adjust the sl and tp levels and then go to bed.

@Hubinator

Just want to thank you as well for your write ups. They were helpful for me to look over as I try to learn how to use these signals. I also would be very interested in figuring out the best way to enter pending trades during times of sleep, or just not being able to watch the market. There were some awesome opportunities that I missed today for that reason. Anyway, wouldnā€™t mind figuring something out, even if it would have to be much more conservative.

Hi Mark,

Great to read that you are reading then applying the strategies rules. You must be an example for others because as you said you read every post. If others just read half of posts or even only the main first posts about the strategies rules, theyā€™ll well understand how to better trade them. Hopefully, many others would do the same as you had done.

About Aud/Usd, you must remember that TP starts at 50 pips or TP1 and as price advance in your favor to target 100 pips or TP2, TP would be turned to save the 50 pips or TP1. So you must not find yourself loosing below 50 pips if your gain went to 70/80 pips for example, still didnā€™t hit TP2 or 100pips but retreated to the 50 pips or TP1.
With this understanding by accurately applying my strategy TP of Medium Term Daily Analysis, you would have exact exits.

I do not prefer any entry unless at retracement levels(if swing or breakout trading) for any pair with also exits at TP targets because a strategy must be applied accurately not broken from time to time. Despite that sometimes you might be able to open a trade at TP1 to target TP2 or TP2 to target TP3 but simply this is not how the strategy work & itā€™s up to your favor to do what you like but consequences would be out of the strategy to handle.
The strategy is very easy to apply as traders had realized till now, only knowing how to trade the breakout & swing trading is the main concern then entries & exits are very accurate to apply.

You must not have a hard time to exit or ā€œget outā€ a trade if you accurately apply TP rule mentioned above, more example is if an order to not hit TP1 or 50 pips, then you turn TP to minimum 20 pips, those are few times that might happen such scenario but in case you find yourself in such situation.
Some traders do not like to hold orders too long especially when they see gain running in their favor & might prefer certain average number of pips daily as 50-100 pips and when they achieve it for any pair/s they stop trading for the day and do whatever they do in their lives.
This is also applying their personal trading strategy which is Great to be daily applied by a Trader despite that not accurately applying my strategy rule but they are applying their preference regarding TP as they are Short Term Traders who prefer quick Good Gain from the market with lower risk by not keeping orders open for longer period of time.

Certainly, A Medium Term Trader who can accurately apply my strategy rules would have better income and most importantly right real trading.

Good Luck Mark