When a new trend line has established it is time for the forex coach in your head to start looking for an entry point. As a forex currency comes back to bounce off of the trend line again that is where you want to enter the trade.
AUS/USD 1HR 12/28/09
UPDATE: Enter the market at 9PM 12/29. Update; stopped out 1/12/10 305 pips profit.
 Forex Signal AbsorptionMake Possible Hyper Pips Dailyonly 12 Days Earned Up 17134 40 In Real Accou… (more) |
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EUR/JPY 5M
This is an example of a micro channel that I was fortunate to milk for 87 pips, entering around 9:30 PM. 12 2 09
My goal was to enter at the bottom of the channel going long with my stop just below the channel and multiple lots. The risk was only 8 pips per lot.
This will not work every time, but when it does the pay off can be big. This trade was up over 120 pips at one point while I was blithely sleeping
[550currency]
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USD/CHF 5M 11/22/09
The evening often offers the opportunity to enter trades on micro range boxes of 10 to 15 pips. As in this example enter short with the trend when the pair is near the top of the range chart. You can have a stop of only 10 pips and multiple lots if you like. The risk is small and the risk reward ratio is huge.
[550forex]
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AUS/USD 4HR 11/21/09
CONSIDER not trading the dollar as it is less volatile and volatility is what makes profits. FIRST DETERMINE WEAKEST CURRENCY THEN STRONGEST. Consider this on future trades…. match this cross pair strongest/weakest non US cross pair for much better profits and volatility.
Example: If GBP is strongest and JPY weakest you then buy the GBP/JPY. If the AUS is weakest and CHF strongest you sell the AUS/CHF.
We have another potential trendline setup on the Aussie as it is bouncing above the daily chart trendline again.
This could be a long term hold.
This trade is mirrored on the Kiwi and the Swissy.
EUR/AUS 4HR 11/21/09
Here is another example of the Aussie —– this time against the Euro in a clear trendline/candle reversal indicator.
Notice the Aussie is strong against both pairs…..
[550forex]
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USD/CHF 15 M
This trade was off of a candle reversal near the trendline. I traded it on a small channel around 9pm that had a 15 pip loss risk and a larger potential gain. up 54 pips where I took my profit at the first resistance.
[550currency]
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Daily chart of Kiwi 11/7/09
Like the Euro last week, the Kiwi is positioned where we should be alert for a trendline break out or break down in the coming week.
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Continue reading about Kiwi on the Trendline Saturday 11/7/09
Trendline setup 11/1/09 EUR/USD DAILY
Looking at the Euro the Ausse and the Kiwi today I see near perfect trend line setups.
Either we will see a significant bounce up on these pairs or they will most likely have significant reversals.
We may see the bounce at the weekly open when trading is low.
A great opportunity setting up here.
Update 1 week later 11/7/09 This pair closed the week up 170 pips from our entry signal last weekend. If the trade is still in play for you let it run and see where it will go. If not we may see another chance to get in at the trend line again this week.
[550forexsignals]
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Yesterday we had a nice trendline bounce on the Euro. With entry after the turn around it is now up about 100 pips.
[2floatmetatrader]
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