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[14 Jun 2010 | No Comment | ]

It’s been a mixed week this week. I had two trades that worked out pretty well (on the EUR/GBP and GBP/JPY pairs) and two small losses on the USD/JPY pair just to cancel things out. In the end I’m slightly up on the week but it’s nothing to get excited about.
The GBP/USD and EUR/USD didn’t produce any decent trading opportunities this week. Well actually if I had stuck to the trading rules of my 4 hour system I would have gone short on the EUR/USD pair after the EMAs crossed downwards, …

FYI »

[14 Jun 2010 | No Comment | ]

You may recall that last week I was hoping that the GBP/USD would fall to around 1.52-1.53 before rising again so that the EMAs would cross upwards and we would have a high probability trading set-up. Frustratingly although this scenario played out perfectly this week, it didn’t quite go according to plan.
I actually traded this pair twice. The first time the EMAs crossed upwards was on Tuesday and I went long at 1.5380. Sadly this upward move fizzled out fairly quickly and I was stopped out for a 40 point …

FYI »

[13 Jun 2010 | No Comment | ]

It’s been quite difficult trading my 4 hour trading system lately because technically speaking I should still be going short on the GBP/USD and EUR/USD pairs because the daily Supertrend indicator is still red. However this week I just felt that they were both massively oversold and went long on both of them when the EMAs crossed upwards on the 4 hour chart.
I went long on the GBP/USD pair yesterday afternoon at 1.5020. I then closed half of the position for 50 points and let the other half run. I’m …

FYI »

[13 Jun 2010 | No Comment | ]

Just two trades for me this week (using my main 4 hour trading system) as I’ve been focused mainly on shares this week. I opened two long positions – one on the GBP/USD pair and one on the EUR/USD. As I mentioned last week I should really be going short on these two pairs as per my trading rules, but I still think they’re both massively oversold.
Therefore I’ve been looking to go long when the EMAs cross upwards on the 4 hour chart, and as it turned out the EMAs …

FYI »

[13 Jun 2010 | No Comment | ]

This will be a quick update this week because I didn’t place any trades at all using my main 4 hour trading system. It’s very tough out there at the moment because the GBP/USD and EUR/USD pairs are both bombed out (but unlikely to move much lower in my opinion so not really good shorting candidates), and the other major pairs aren’t doing much either.
I shall continue to monitor these major pairs in the coming weeks but for now I’m being fairly cautious. Most of my time is currently spent trading …

FYI »

[13 Jun 2010 | No Comment | ]

Well it’s the morning of Good Friday so I’m obviously not trading today, but it’s been an excellent week this week. I traded two positions in total using my main 4 hour trading system – one on the GBP/USD pair and one on the EUR/USD pair – and both yielded some excellent profits.
As regular readers will know, I’ve been looking to go long on both the GBP/USD and EUR/USD pairs because although the Supertrend indicator is still red on the daily chart, and therefore indicating a downward trend, I just feel …

FYI »

[13 Jun 2010 | No Comment | ]

It’s been another decent trading week this week with two winning trades out of three. As in previous weeks, I’ve been looking to go long on the GBP/USD and EUR/USD pairs (despite the Supertrend indicator still being red on the daily chart) as I think they are both likely to turn upwards now, and for the most part this has proved to be a profitable strategy.
The losing trade came on the GBP/USD pair earlier in the week. The EMAs crossed upwards on Tuesday afternoon/evening, and I went long after a pull-back …