(2/2/2011 1:21:09 AM):SuperADX Trade AlertSell to OPEN AUD/USD at MarketFilled 1.0117
SL 1.0193 (76pips)
TP 1.0035 (82pips)
This counter-trend trade is based on the SuperADX reversal signal 60min chart.
(2/2/2011 1:59:19 AM):
Good Morning London! Today, we’ll be looking at taking long positions on the EUR/USD and GBP/USD. The GBP/CHF is still on the cusp of trendline and can go either way. I’m not too comfortable taking long positions on the EUR/USD as we are smack against a Fibonacci Resistance band and a TrendWave reversal dot has appeared on the 120min chart. I often approach the market with a contrarian view and want to take that counter-trend position, however, in keeping with the rules of the Supertrend system, we shall stay with the trend direction and take the long only.
(2/2/2011 1:59:35 AM):
I heard a few years ago from a very successful money manager, that we should most often do opposite of what makes the most sense. This is definitely easier said than done, and clearly needs lots of practice, but more often you will win. As I am staring at the gbp/usd and eur/usd charts, I clearly see both of these markets are over-bought and a correction is due. Common “traders” sense tells me to get short. It’s a tough choice.
(2/2/2011 3:04:53 AM):
Supertrend Trade Alert
Buy to OPEN GBP/USD at Market
Filled 1.6173
SL 1.6125 (48pips)
TP 1.6263 (90pips)
(2/2/2011 3:30:06 AM):
buy gbp/chf at market
(2/2/2011 3:30:28 AM):
Supertrend Trade Alert
Buy to OPEN GBP/CHF at Market Filled 1.5128
SL 1.5068 (60pips)
TP 1.5225 (97pips)
(2/2/2011 6:31:22 AM):
Supertrend Exit Update
Adjust target on long GBP/CHF to 1.5211
(2/2/2011 6:31:38 AM):
trading 5211 now
(2/2/2011 6:33:43 AM):
We have a resistance level at 5215 and didn’t want to chance it by a higher target. Better to exit one of our profitable trades before ADP employment numbers are released.
(2/2/2011 6:35:26 AM):
We are OUT our Long Supertrend GBP/CHF at 1.5211
Out +83pips
(2/2/2011 6:39:28 AM):
Looks like it was a good call to exit GBP/CHF here. It’s having a difficult time piercing 5215 and we might see a reversal. They say, when the money is easy, take it quickly.
(2/2/2011 7:23:27 AM):
SuperADX Trade Alert
Buy to OPEN USD/CAD at Market
Filled .9886
SL .9836 (50pips)
TP .9944 (58pips)
This counter-trend trade is based on the SuperADX reversal signal 60min chart.
(2/2/2011 7:38:21 AM):
7:37am ET Feb 2
Adjust target on AUD/USD short to 1.0047
(2/2/2011 11:19:27 AM):
Adjust target on AUD/USD short to 1.0054
(2/2/2011 1:48:31 PM):
The Supertrend long GBP/USD has turned negative on us. There’s still a chance it’ll pop back upward. Be sure to close out at 4pm ET (New York close).
(2/2/2011 8:34:22 PM):
Supertrend GBP/USD long trade was closed at 4pm ET at 1.6185 Out +12pips |