Hi,
long term member Jim asked me to explain gaps once more, there were a
LOT o f them at the market open and 100′s of pips to be made. In 2011 I
made a lot of pips trading gaps, then the markets changed and the method
became unreliable. Mondays market open was text book on many pairs. See
the start of todays video on ways to trade gaps.I also show in the video how you could have avoided a loser on the Aud/Yen. I placed a forward order as it was such a strong area, but a 4 hour chart would have kept me out.
I also explain why its so important to only take 1 trade at a time with
correlated pairs and show you were I have now moved my stop on my more aggressive Gbp/$ short, which means I have now locked in over 400 pips on this trade.
For the rest of the week: I am still leaving the Euro/$, but the Chf looks interesting for a long if we get a clear trend line break, more conservative entry would be a 4 hour close above 0.9350 or a pullback anywhere near 0.9220.
Aud is trying to break 1.0200 which is key on this pair. Gold is bouncing around and its very messy, but a clear break and close below there would see me short. best option is still a pull back to 1.0340.
Cad, technically looks good for a long but I prefer a big pullback, 1.0020 would see me longing
New members please note: If I am looking to take a trade long, at for example 1.6000 , I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads.
We are NOT a “tipping service” our aim is to teach you how to trade for yourself. For more up to the minute updates do not forget to drop by the forum
Pierre, Vassilis (Capsmart), Raa, Omar, Mary, and other experienced members will be available in the forum to give you a more up to the minute assessment & whether they see any potential trades lining up in the next few days. Many members tell me this is the best forex forum there is (no back biting & bitchiness, nor spam, that spoils most forums) and all members are happy to help new visitors. Its a great resource, USE IT: Forex Forum
To View the Video and read much more education materials go and grub $1 trial http://bit.ly/YDfDwR