Daily Forex Signals – 21st Jan 2011


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There is 4 Open Position
There is 5 Closed Trade

Daily Market Beacon
Friday, January 21st 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 CHF/JPY from 85.98 (currently trading 85.73)
Stop loss 86.80
Target 84.90

Short EUR/CHF from 1.3044 (currently trading 1.3041)
Stop loss 1.3106
Target 1.2980

Short USD/CAD from .9988 (currently trading .9969)
Stop loss 1.0033
Target .9950

Short USD/CHF from .9682 (currently trading .9654)
Stop loss .9747
Target .9615


SuperADX results:

Target Reached:  Short GBP/CHF +79pips

SuperTrend Results:
Long EUR/USD -32pips
Long EUR/USD -42pips
Long GBP/USD -72pips
Long GBP/CHF +85pips



Track Record

+176
Pips

Accumulative

January
2011



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


(1/20/2011 1:55:34 AM):
Good Morning London! Today the 4-HR trend is still up on all three pairs, however, the short term trend is down on both the GBP/USD and GBP/CHF. We will hold off from getting into these two pairs until we have a confirmed long signal. We will be taking an immediate LONG EUR/USD position at the top of the hour. Yesterday was a difficult day on both the SuperTrend, (due to choppiness), and the SuperADX, (due to choosing the wrong direction). Looking forward to good trading today. =)

(1/20/2011 2:00:25 AM):
buy eur/usd at market, filled 3465


(1/20/2011 2:01:24 AM):
SuperTrend Trade Alert
Buy to OPEN EUR/USD at Market
Filled 1.3465
SL 1.3415 (50pips)
TP 1.3550 (85pips)

(1/20/2011 2:30:47 AM):
Sell to Close EUR/USD at Market

(1/20/2011 2:32:35 AM):
SuperTrend Trade Alert
Sell to Close EUR/USD at Market
Filled 1.3433
Out -32pips
Reason for exit: Signal reversed

(1/20/2011 2:34:19 AM):
SuperADX Exit Alert
We are OUT our Short GBP/CHF at 1.5205
Out +79pips

(1/20/2011 2:34:30 AM):
We are currently FLAT with NO open or pending positions.

(1/20/2011 3:50:55 AM):
We will probably be entering long GBP/USD and possibly EUR/USD at the top of the hour. (10 min from now).

(1/20/2011 4:02:17 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/USD at Market
Filled 1.5978
SL 1.5906 (72pips)
TP 1.6095 (117pips)

(1/20/2011 4:04:43 AM):


SuperTrend Trade Alert
Buy to OPEN EUR/USD at Market
Filled 1.3479
SL 1.3415 (64pips)
TP 1.3555 (76pips)

(1/20/2011 4:30:35 AM):
SuperTrend Trade Alert
Buy to OPEN GBP/CHF at Market
Filled 1.5265
SL 1.5188 (77pips)
TP 1.5350 (85pips)

(1/20/2011 6:41:33 AM):
Price action is slooooow today. We have some SuperADX signals appearing now. We’ll put those trades on momentarily.

(1/20/2011 9:01:42 AM):
SuperTrend Exit Alert
We are OUT our Long GBP/CHF at 1.5350
Out +85pips

(1/20/2011 9:56:13 AM):
Sell to OPEN CHF/JPY at Market
Filled 85.98
SL 86.80 (82pips)
TP 84.90 (108pips)
This trade is based on the SuperADX “Big Move Ahead” red bar.

(1/20/2011 10:03:17 AM):
We stopped out on our SuperTrend Long GBP/USD at 5906
Out -72pips

(1/20/2011 10:39:44 AM):
SuperTrend Exit Alert
Sell to Close EUR/USD at Market
Filled 1.3437
Out -42pips
Tough market last two days.

(1/20/2011 1:07:25 PM):
Sell to OPEN USD/CAD at Market
Filled .9988
SL 1.0033 (45pips)
TP .9943 (45pips)
This trade is based on the SuperADX reversal signal 60min chart.

(1/20/2011 8:18:31 PM):
SuperADX Trade Alert
Sell to OPEN USD/CHF at Market
Filled .9682
SL .9747 (65pips)
TP .9615 (67pips)
This trade is based on the SuperADX reversal signal 30min chart.

(1/20/2011 8:35:49 PM):
Adjust target on USD/CAD short to .9950

(1/21/2011 1:08:24 AM):
SuperADX Trade Alert
Sell to OPEN EUR/CHF at Market
Filled 1.3044
SL 1.3106 (62pips)
TP 1.2980 (64pips)
This trade is based on the SuperADX reversal signal 30min chart. We should see a correction here see price retrace to our MoneyLine2.

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”

Related posts:

  1. Daily Forex Signals – 18th Jan 2011
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