Daily Forex Signals – 25th August 2011


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There are 1 Open Position
There are 1 Pending Trades
There are 4 Closed Trade

Daily Market Beacon
Thursday, August 25th 2011


This issue contains:
1: Open Positions
2: Pending Trades
3: Recently Closed Trades
4: Today's Intra-Day Alerts and Results
5: EOD Trades

Long NZD/JPY from 63.69
SL 63.70 (breakeven+1) UPDATED
TP 64.44 (75pips)

Buy to OPEN GBP/USD at 1.6435 buy stop
SL 1.6326 (109pips)
TP 1.6648 (213pips)

Long EUR/NZD +1pip
Long USD/CAD -49pips
Short USD/CHF -37pips
Short AUD/CAD +55pips


Track Record

-401
Pips

August 2011

Markets continue to be in a rut making trading difficult.
We expect a break from this non-directional chop soon.
Until then, let’s keep risk low with smaller than usual positions.

July 2011 +211pips
June 2011 +1630pips
2nd Quarter 2011 +1926pips
1st Quarter 2011 +1271pips


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


(8/24/2011 5:51:20 AM):
We are currently short AUD/CAD from 1.0383 based on the 60min chart. We just received another short confirmation on the 4-hr chart. When both time frames agree, it is normally a high-confidence trade. We may increase our target based on the 4hr chart.
(8/24/2011 6:04:46 AM):
Let’s STRADDLE the NZD/JPY with both ‘buy stop’ and ‘sell stop’ orders. After fill, Keep other order working.
NZD/JPY currently trading 63.39
Buy to OPEN NZD/JPY at 63.69 buy stop
SL 63.20 (49pips)
TP 64.44 (75pips)
Sell to OPEN NZD/JPY at 62.90 sell stop
SL 63.68 (78pips)
TP 61.60 (130pips)

(8/24/2011 6:10:53 AM):
Move stop loss on Short AUD/CAD to 1.0390
(currently trading 1.0369)

(8/24/2011 6:47:31 AM):
Our Long EUR/NZD moved 50+pips into our favor.
Let’s move stop loss to breakeven+1
Move stop loss to 1.7393

(8/24/2011 9:40:13 AM):
Trade update
We exited breakeven+1 on our long EUR/NZD Out +1pip
We stopped out our long USD/CAD at .9841 Out -49pips
We have three (3) open positions:
Short AUD/CAD at 1.0383
Long NZD/JPY at 63.69
Short USD/CHF at .7914
We have one (1) pending trade:
Short NZD/JPY at 62.90

(8/24/2011 9:11:58 PM):
Our Short AUD/CAD has moved 50+pips into our favor. Move stop loss to breakeven+1. Currently trading 1.0311
Adjust stop loss to 1.0382

(8/25/2011 5:15:49 AM):
Trade Update
We have two (2) open positions:
Long NZD/JPY from 63.69 (currently +25pips)
Short AUD/CAD from 1.0383 (currently +59pips)
Looks like this trade will call an exit at close of this 1-hr candle at the top of hour. Expect an exit alert in about 50min’s.
No Pending trades at this time. Cancel any pending trades.
A long time veteran trader and subscriber commented today:
This week is actually the worst part of the doldrums. Next week and then on, we can get back to better trending markets, and that is a historical fact. Europe goes back to work next week, although I don’t know what effect the current economics have had on their culture, but I’m sure it is engrained in them and we know the trading (as it does every year) has been noncommittal at best.

(8/25/2011 6:10:37 AM):
AUD/CAD did not call an exit. Let’s close at market at 7am ET (50min’s from now) if price is above 1.0316.

(8/25/2011 6:54:54 AM):
Buy to OPEN GBP/USD at 1.6435 buy stop
(currently 1.6369)
SL 1.6326 (109pips)
TP 1.6648 (213pips)
Trade is based on 240min chart.

(8/25/2011 7:01:13 AM):
Buy to Close AUD/CAD at Market
Filled 1.0328
Out +55pips

(8/25/2011 7:06:47 AM):
Our long NZD/JPY has moved 50+ pips into our favor.
Move stop loss to breakeven+1
Adjust stop loss to 63.70

EOD trades are ideal for the Part-Time trader which has limited time to place trades and monitor positions, but desires the ability to catch big trends and create excellent returns.
Current Positions: (5)


Long AUD/CAD from 1.0287
SL .9993 (294pips)
TP 1.0692 (405pips)


Long AUD/JPY from 80.30
SL 76.40 (390pips)
TP 89.45 (915pips)


Long AUD/USD from 1.0426
SL 1.0090 (336pips)
TP 1.1075 (649pips)


Long NZD/USD from .8405
SL .7953 (452pips)
TP .8890 (485pips)


Short GBP/NZD from 1.9640
SL 2.0215 (575pips)
TP 1.8880 (760pips)

Pending Trades: (3)
(All pending trades expire 1-week from issue if not filled)


Buy CHF/JPY at 98.78 buy stop
(currently 96.87)
SL 95.45 (333pips)
TP 104.40 (562pips)


Short GBP/CHF at 1.2897 sell stop
(currently 1.3047)
SL 1.3226 (329pips)
TP 1.1960 (937pips)


Short EUR/NZD at 1.7172 sell stop
(currently 1.7444)
SL 1.7685 (513pips)
TP 1.6640 (532pips)


These trades are based on the same methodology as our primary day trading systems, except these from fixed daily charts rather then minute charts. Be prepared to stay in EOD trades for several weeks to months at a time. Also expect large swings of several hundred pips up-and-down throughout the course of being in any particular trade.

 

 

 

 

 

 

(All pending trades expire 1-week from issue if not filled)

Related posts:

  1. Daily Forex Signals – 25th Jan 2011
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