The conditions did not line up for the GBP/USD trade either. In about 50 mins I will post my thoughts on the gap.
My thoughts are that this will gap up over the weekend.
Have a great weekend guys. Take care and I will chat with you all on Monday. Cheers! 
Good morning friends,
It’s great to be back for another wonderful week of trading FX ;). Hopefully you all had a great weekend and enjoyed some of the bearish gains to be made last night!
The conditions did not line up for the 7am EUR/USD trade this morning however, keep in the mind the US session has recently been bullish. In addition, we are very near a support point for the currency. This may be a good time to consider a long position in the pair.
Good luck all and I will update the board later for the GBP/USD trade.
The conditions did not line up for the GBP/USD trade today, but I will update the board later for the AU open trade.
If you took a long position as I posted earlier, you should have made somewhere in the neighborhood of 60-70 pips on a short, US open bullish move ;). Hopefully conditions line up for the AU open trade so we can see a bit more action in the pair today.
Well, it looks like we completely struck out today as far as system trades are concerned. The AU open trade conditions did not line up today either.
My advice for the remainder of the evening is to use your Support and Resistance markers as trading points. This strategy has worked quite well throughout the day and should continue to work as the other sessions weigh in.
Good luck all, “talk” to you in the morning!
Good morning friends,
The conditions for the 7am trade lined up. Here is the setup:
Entry Price: 1.4308
Exit: at the open of the 11am bar
S/L: 1.4368
TP: 1.4288
Happy trading!
The 7am trade worked out in our favor today. Here is how the trade played out:
Entry Price: 1.4308
Exit Price: 1.4288
Trade Length: 2 bars
Profit: 20 pips ($200)
Also, the conditions lined up for the GBP/USD trade today. Here is the setup:
Entry Price: 1.6309
Exit: at the open of the 5pm bar
S/L: 1.6279
TP: 1.6299
Good luck!
Conditions did not line up for the AU open trade today, but the GBP/USD played out in our favor today. Here is how the trade worked out:
Entry Price: 1.6309
Exit Price: 1.6319
Trade Length: 2 bars
Profit: $10 pips ($100)
Today has been a pretty good day for systems trading overall (especially since there was not much movement in the pairs since the open of the US session).
Good luck tonight all, cheers!
Good morning friends,
The conditions for the 7am trade did not line up this morning.
It looks as though we have reached a new year’s high in the EUR/USD today. Because of the magnitude of the move, expect some type of expanding range to manifest itself either sometime today or tomorrow as the market attempts to adjust and determine which direction to move. My recommendation is to trade with smaller lot sizes due to possible volatility.
The next trade today is the GBP/USD trade. I will update the board later with the status of this trade. Good luck in today’s US session!
The conditions lined up for the GBP/USD trade today. Here is the setup:
Entry Price: 1.6400
Exit: at the open of the 5pm bar
S/L: 1.6360
TP: 1.6410
Good luck!
The conditions lined up for the AU open trade today as well. Here is the setup:
Entry Price: 1.4521
Exit: at the open of the 7:30pm bar
S/L: 1.4561
TP: 1.4511
Happy trading!
The GBP/USD trade worked out to our advantage today. Here is how the trade lined up:
Entry Price: 1.6301
Exit Price: 1.6311
Trade Length: 1 bar
Profit: 10 pips ($100)
Sorry for the late update, but the AU open trade worked out in our favor today as well. Here is how the trade played out:
Entry Price: 1.4521
Exit Price: 1.4511
Trade length: 3 bars
Profit: 10 pips ($100)
Best of luck in tonight’s session. Cheers!
Good morning fellow FXers,
The conditions lined up for the AU open trade this morning. Here is the setup:
Entry Price: 1.4611
Exit: at the open of the 11am bar
S/L: 1.4661
TP: 1.4591
Happy trading!
Is that true that scalping requires equal trade sizes?
:48:
Hello FXFXloser,
I do not personally recommend the scalping method of trading (all my trades have a minimum target of 10 pips and are for a specified period of time). However, there are plenty of threads on babypips dedicated to scalping techniques that may answer your question.
In my experience, scalping is often (but not always) indulged in by those who are not confident in their positions. This is why I recommend that those new to FX avoid the practice altogether.
Good luck in your research!
Alright friends, the pre-US open 7am trade worked out for us. Here is how the trade played out:
Entry Price: 1.4611
Exit Price: 1.4591
Trade length: 1 bar
Profit: 20 pips ($200)
The next trade today is the GBP/USD trade. I will update the board later for this trade.
The conditions did not line up for the GBP/USD trade today. I will update the board in about 30 minutes for the AU open trade.
The conditions lined up for the AU open trade. Here is the setup:
Entry Price: 1.4552
Exit: at the open of the 7:30pm bar
S/L: 1.4592
TP: 1.4542
Good luck!
Well, the AU open trade did not quite work out for us. We neither reached our S/L or TP. Good luck trading in the overnight session and I will update the board in the morning. Ciao!