21st April Results +340 pips!

cable pullback 15 minute forex chart 21st april 2009

End of day results 21st april   +340 pips (+ 1 euro/gbp still open)

I posted this part results 7 hours ago at 11am bst. Scroll down to the bottom for end of day results.;

I am currently 200 pips profit taken & balance of gbp & euro trades running with +20 locked in on both. Thats it, 11am & I’m finished. will update fully later.

The diagram above shows this mornings pullback on a 15 minute chart. The (1st arrow top left) was at the same time as the 4 hour chart said to long. As i mentioned in my analysis, i didn’t buy here for obvious reasons: the price hadn’t broken the asian range high. So i said to look for a pullback.

A pullback is where price will go before turning back in the direction our analysis has said price is going to go. In my analysis earlier i said that a good place would be if price pulled back to the overnight asian low (yellow line on chart above).

As you can see it didn’t quite make it, BUT we had loads of clues to go long here. 1st green candle after red ones down is almost a reversal candle. 2 price almost hit asian low. 3. the bollinger bands closed to horizontal line (think of a door slamming shut) ! 4. price bounced back inside yesterdays low (100% line) which was also the psychological number of 1.4500.

What more could we ask for !! Finally it was a great risk/reward ratio. I entered 2 lots at 1.4500 with stops just below asian low at 1.4460 (40 pips). I closed the 1st lot + 40 pips & moved stop on 2nd to entry. Balance to run.
then moved stops to + 20.

If you look at the euro & the aud & jpy i had very similar long entries on all of these as well. ie pullbacks etc. You need to look at those charts and see if you can spot the same things there., good luck to all, marc

End of day results 21st april   +340 pips (+ 1 euro/gbp still open)

I got taken out of the euro & gbp second parts above + 20 on each. It was too soon again, but all the recent whip sawing has made me jittery. Having said that my entries are very good at the moment so I am still earning extremely good pips.

I took a further trade this afternoon (you will just have to believe me). I didn’t post as i was at a friends house when the alarm went off. This again is a text  book trade.  On the 4 hour euro/gbp i had been watching it for for the last couple of days.

As you can see, price had rejected 6 times at the resistance on the 4 hour chart. I really should have shorted at the 7th rejection candle, but i missed it – i was in the coffee shop !! Another way to deal with this would have been to place an order 15 pips above top trend line & 15 below bottom. Anyway I’ve been busy & missed it.

I shorted at a break of the trend line & 200ema on the pullback on the 15 minute chart at 0.8872.  I opened 3 lots (this pair only moves average 100 per day so i go in harder). I closed 2 lots at 0.8820 (78.6 fib on daily. Stop to entry on last lot. This one I will let run !!

Classic 4 hour trade with small stop. great risk reward ratio

Should have entered at A but caught pullback @ B

I have been told that this information is too good and i’m mad to give it away, my friend may be right. What i am going to do from now on with my daily anaysis is email in real time to those who have sent me their email details & then post it later in the day for those who haven’t.

In other words if you want real-time analysis, fill in the box at the top of the home page: if you would just like to look at what i said later in the day, just check back here as when you like.

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