Daily Forex Signals – 19th Jan 2011


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There is 3 Open Position
There is 7 Closed Trade

 

Daily Market Beacon
Wednesday, January 19th 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"

 

Short GBP/CHF from 1.5284 (currently trading 1.5350)
Stop loss: 1.5534
Target 1.5005

Long NZD/JPY from 63.71 (currently trading 63.69)
Stop loss 63.15
Target 64.66

Long NZD/USD from .7747 (currently trading .7745)
Stop loss .7690
Target .7833

 


SuperADX results:

Target Reached: Long  EUR/GBP +59pips
Target Reached: Short EUR/JPY +56pips
Target Reached: Long GBP/JPY +88pips
Stopped Out: Long USD/CHF -65pips

SuperTrend Results:
Long EUR/USD +51pips
Long GBP/USD +87pips
Long GBP/CHF +31pips

 



Track Record

+451
Pips

Accumulative

January 2011



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

 

(1/18/2011 2:06:37 AM):
Good Morning London, today on the SuperTrend system, we will be looking to take long positions on each of the GBP/USD, EUR/USD and GBP/CHF pairs. We currently have valid buy signals on both the gbp/usd and eur/usd. We will wait for a proper setup on the GBP/CHF before entering.

 

(1/18/2011 2:08:07 AM):
the euro is running away from us before I can get the alert out. I’m filled long at 3337

(1/18/2011 2:10:28 AM):
SuperTrend Trade Alert
Buy to OPEN EUR/USD at Market
Filled 1.3337
SL 1.3242 (95pips)
TP 1.3453 (116pips)

(1/18/2011 2:15:54 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/USD at Market
Filled 1.5938
SL 1.5808 (130pips)
TP 1.6025 (87pips)
We are upside down on our risk/reward ratio on this trade, so we will be watching it closely and exiting the trade if signal reverses.

(1/18/2011 2:18:43 AM):
That’s it for now. We are waiting for a valid BUY setup for GBP/CHF. So far, momentum is south so we may not be trading the gbp/chf today.

(1/18/2011 2:24:28 AM):
We stopped out our LONG USD/CHF at .9584,
Out -65pips.
We got on the wrong side of this big move.

(1/18/2011 4:33:34 AM):
SuperTrend Exit Alert
We are OUT our LONG GBP/USD at 1.6025
Out +87pips
SuperTrend Track Record

(1/18/2011 4:42:28 AM):
GBP is quite bullish after news. We’ll be looking at taking a long position on the GBP/CHF in accordance with the SuperTrend at the top of the hour if this candle closes above 5340.

(1/18/2011 5:05:18 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/CHF at Market
Filled 1.5382
SL 1.5241 (141pips)
TP 1.5532 (150pips)

(1/18/2011 5:12:48 AM):
SuperADX Exit Alert
Sell to Close GBP/JPY at Market
Filled 132.41
Out +88pips

(1/18/2011 5:46:05 AM):
SuperTrend Exit Alert
Sell to Close EUR/USD at Market
Filled 1.3389
Out +52pips
We’re exiting early on this trade. Looks like price will trickle back down. We may re-enter later.

(1/18/2011 5:50:53 AM):
closing GBP/JPY early was definitely the correct call. It’s dropping like a rock.

(1/18/2011 9:38:55 AM):
What woke up the eur/usd? Original 116pip target hit. Too bad we exited earlier. :/

(1/18/2011 11:20:30 AM):
We will auto close our SuperTrend Long GBP/CHF trade at London Close. That’s 40 minutes from now (12 noon EST).

(1/18/2011 12:00:29 PM):
close GBP/CHF at Market

(1/18/2011 12:01:47 PM):
We have closed our GBP/CHF (time closed) at Market 1.5413 Out +31pips

(1/19/2011 12:38:24 AM):
We have SuperADX “Big Move Ahead” red bar signals on NZD/USD and NZD/JPY. I’m leaning towards LONG on both these trades. Expect trade details momentarily.

(1/19/2011 12:50:44 AM):
SuperADX Trade Alert
Buy to OPEN NZD/USD at Market
Filled .7747
SL .7690 (57pips)
TP .7833 (86pips)
Buy to OPEN NZD/JPY at Market
Filled 63.71
SL 63.15 (56pips)
TP 64.66 (95pips)
Keep in mind that the catalyst for these big moves will most likely be the New Zealand’s CPI quarter over quarter numbers due at 4:45pm EST.

 

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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