Daily Forex Signals – 18th Jan 2011


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There is 3 Open Position
There is 5 Closed Trade

Daily Market Beacon
Tuesday, January 18th 2011


This issue contains: 

1: Open Positions
2: Recently Closed Trades
3: Today's Intra-Day Alerts and Results
4: Today's Subscriber Questions and Comments
5: FAQ's
6: Article - "How We Trade The SuperADX"
Long GBP/JPY from 131.53 (currently trading 131.50)
Stop loss: 130.85
Target: 132.50
Long USD/CHF from .9649 (currently trading .9605)
Stop loss .9584
Target .9757
Short GBP/CHF from 1.5284 (currently trading 1.5316)
Stop loss: 1.5534
Target 1.5005

SuperADX trades:
Target Reached: Short EUR/GBP +59pips
Target Reached: Short EUR/JPY +56pips
SuperTrend trades:
Long GBP/USD +31pips
Short EUR/USD +22pips
Long GBP/CHF +32pips


Track Record

+256
Pips

Accumulative

January
2011



-All time stamps are EST (New York time)- 

(1/17/2011 12:17:45 AM):
Sell to OPEN EUR/GBP at Market
Filled .8411
SL .8480 (69pips)
TP .8310 (101pips)
This trade is based on the SuperADX “Big Move Ahead” Red Bar. I’m more bearish the Euro than the Pound.

(1/17/2011 12:31:00 AM):

Sell to OPEN EUR/JPY at Market
Filled 110.53
SL 111.73 (120pips)
TP 109.33 (120pips) This trade is based on the SuperADX reversal signal 120min chart.

(1/17/2011 1:22:22 AM):

Buy to OPEN USD/CHF at Market
Filled .9649
SL .9584 (65pips)
TP .9757 (108pips)
This trade is based on the SuperADX “Big Move Ahead” red bar. I’m going with the consensus here and going long. The big boy institutions are 68% long the USD/CHF.

(1/17/2011 2:03:45 AM):

SuperTrend Update
I spent the good part of the weekend backtesting and making some changes to the SuperTrend system which will apply to the EUR/USD ONLY. Today, I’m looking to Sell Short the EUR/USD and buy GBP/USD. The EUR/USD will be a larger than normal trade, meaning bigger target and stop loss. I’m waiting for price to pull back so we can get a decent fill. Price is dropping and dropping without giving us much opportunity to get in. Let’s see if we can sell short around the 3314 area.

(1/17/2011 2:23:40 AM):

SuperTrend EUR/USD Trade Alert
Sell to OPEN EUR/USD at 1.3315 limit
SL 1.3450 (135pips)
TP 1.3135 (180pips)

(1/17/2011 2:27:31 AM):

We are filled LONG EUR/USD at 3315

(1/17/2011 2:29:16 AM):

CORRECTION:
We are filled SHORT EUR/USD at 1.3315.

(1/17/2011 2:29:36 AM):

SL 1.3450 (135pips)
TP 1.3135 (180pips)

(1/17/2011 2:42:07 AM):

If price closes above 1.5870 at the top of the hour, we will be taking a long position on GBP/USD.

(1/17/2011 4:39:27 AM):

Does not seem we are going to get our GBP/USD buy signal, however, the GBP/CHF is looking ripe for a run up on the SuperTrend system. The problem with calling this trade is that we are already short via the SuperADX counter-trend trade. I’m short the GBP/CHF on my HotspotFXi institutional account. My apologies for causing confusion, but I am going to go ahead and open a buy position on my personal account. I want to keep the SuperTrend track record going with all trades the system generates without consideration of our SuperADX system. Expect the trade details momentarily.

(1/17/2011 4:47:16 AM):

Buy to OPEN GBP/CHF at Market
Filled 1.5321
SL 1.5194 (127pips)
TP 1.5590 (269pips)
This trade is based on the SuperTrend system. We will close this trade at the end of London session (1700 GMT), if neither target/stop loss has been hit.

(1/17/2011 4:55:04 AM):

Looks like GBP/USD is making a run North. If this 30min candle closes above .5865 resistance, we’ll take a long position.

(1/17/2011 5:02:32 AM):

SuperTrend GBP/USD Trade Alert
Buy to Open GBP/USD at Market
Filled 1.5871
SL 1.5807 (64pips)
TP 1.5980 (110pips)

(1/17/2011 10:28:46 AM):

We will be closing our LONG GBP/USD an GBP/CHF trades at the end of the London session since U.S. Banks are closed today. Let’s close at 12pm EST (5pm GMT).

(1/17/2011 12:07:19 PM):
Sell to Close GBP/USD at Market
Filled 1.5902 |
Out +31pips
Sell to Close EUR/GBP at Market
Filled 1.5352
Out +32pips

(1/17/2011 12:09:48 PM):
Buy to Close EUR/USD at Market
Filled 1.3293
Out +22pips

(1/17/2011 12:14:31 PM):
Correction:
The SuperTrend trade we closed is the GBP/CHF (not EUR/GBP)The price is correct.

(1/17/2011 12:21:48 PM):
We still have four open positions based on the SuperADX system. They are Long USD/CHF, Short GBP/CHF, Short EUR/GBP and EUR/JPY. These trades will stay on until target or stop loss is reached.

(1/17/2011 12:22:57 PM):
SuperADX track record will be updated tonight.

(1/17/2011 10:08:38 PM):
Adjust target on EUR/JPY short to 109.56

(1/17/2011 10:47:23 PM):
Buy to OPEN GBP/JPY at Market
Filled 131.53
SL 130.85 (68pips)
TP 132.50 (97pips)
This trade is based on the SuperADX “Big Move Ahead” red bar. Taking a long position based on probability of price shooting up to test MoneyLine on daily chart.

(1/18/2011 1:26:05 AM):
Buy to Cover EUR/GBP at Market
Filled .8352
Out +59pips
We received a SuperADX exit bar indicating an immediate exit.

(1/18/2011 1:44:04 AM):
Buy to Close EUR/JPY at Market
Filled 109.97
Out +56pips
We missed our 120pip target by about 20pips and price is running away from us now. Best to take profits here as the EURO is strong today.

None today

Q. At what point do we cancel or replace existing orders? Do we cancel pending orders at a certain time?
A. Keep all Pending orders working until the next Market Beacon is
published. The following Market Beacon will always over-ride
existing orders, update protective stops and targets on existing
positions.

Q. What do the abbreviations TP and SL mean?

A.
When getting a quick alert out, I tend to abbreviate more… TP=
Take Profit (Target), SL= Stop Loss (Protective stop)


This new revised exit strategy has produced an “additional” profit
gain of 18.4% over the 23 months of backtests on five timeframes.
Our entry will stay the same and we will continue to take an
immediate position on entry. However, we will enter this trade with
two lots. We want the ability to exit half our position at one
target and the other half at another target. Do not mistake: We
are NOT
suggesting multiple targets which you must choose. None
of that stuff. I will continue to provide the exact entries, exits, stops and targets which I am using.

We will enter “Big Move” Red Bar trades with 2 Lots (or any size multiple of two) Both Positions with have the same static StopLoss. There will be Two Targets. First Target will be a staticTake Profit point. We will exit half our position at First Targetprice; then move Stop Loss to Breakeven for 2nd Half of Position.The 2nd Target will be decided by the SuperADX white bar exitsignal. This strategy starts immediately and instructions will be
included with the trade alert.
Please see this blog topic for a detailed explanation of our
SuperADX Red Bar Strategy. “How We Trade SuperADX “Big Move Ahead” Red Bar Signals”

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