Chart courtesy of Advancet Get. Data provided by ESignal.
The Euro 15 minute chart shows our reversal and I went short a little after that when the far east had opened for business. We are hovering around a PP at present with support and the next support is the MA. Watch for a break or bounce at the point if we get there and take the appropriate action. Anyone esle awake at that time who traded and I know one of you did as per our conversation at that time should be in around £500 profit now, so make sure you scale out and move your stop if you have not already done so.
The reason I was speaking with a friend so late last night is because he recently moved over to mechanical trading and decided to trust the analysis and not use there emotion for trading and I was helping set up the software for them. By the way Richard, I expect dinner sometime soon.
Using the mech trade Richard has been short the EURAUD cross at 1680 and is £2,500 in profit within 6 days and that was the first trade he had done since I explained what he needed to do. Unfortunately, I did not see the set up and missed out on the trade but got in this morning with just over £200 profit. Those using mech trade should look at this for another setup on the hourly.
By the I have a new phone today.
Lastly, I want to wish my friend Ro the best of luck today. Good luck mate and hope all goes well and I will give you a call in a couple of days time.