Closed Position

Ok, I know below I said I will not be updating today but I just read an email from someone saying they follwed my analysis and decided to short the NZDJPY yesterday and have made over $3000 in a few hours but wanted to know when to come out of the position and where it was going to. I am answering the question on here as it maybe helpful for others too.

I never know where the price is going to. However, I can do analysis to give me some idea and I know the above chart will be difficult for most of you to understand but that is my analysis and it shows we have support displayed by MOB. As you can see, price hit that and reversed. That is not to say it wont go down lower but I am out of the position based on the support level.

If you are in a trade then where you take out your profits are totally up to you and I highly reccomend you do not rely on me to tell you as my updates will not be timely enough for most of you.

Well done to Picasso my Irish friend.

Happy Trading.

Big Profits!

I wont be updating today.

Hopefully you have all made good profits since I have been updating this site with my day trading charts. The NZDJPY alone would have given you about 400 pips profit. Well done to you all.

Good luck for next week.

Yen Gaining?

I was going to update earlier today but Virgin Media came round (only a day late) to fix my internet issues.

I am short on NZDJPY today based on sell signal from above chart. I think the JPY in contrast is quite bullish.

Had an email from Barry "Turkey Catcher" today which I thought I would provide for you all to read as I have been asked how he is doing now he no longer works by some of you.

Hello mate,

What a day! I am up well over 500 pips so far today, I am locking in my profits and going out to enjoy the rest of the day.

I will never be able to thank you enough for all the help that you give me, these stratagies have enabled me to have a life I never thought possible.

Cheers


Happy Trading.

Bullish Dollar?

The USDCAD pair is beginning to finaly look bullish. I am long on this pair and it is seems to be gaining some strength and momentum. The USD has been taking some battering for a while and it is only natural to recover (even if it is temporary) from that so the bullish USD may be expected by some trading gurus but it is welcome.

We were 4x4 driving with Ash & Bijal yesterday which was even better than the first time a few weeks ago. Once again, I encourage everyone to try it out.

Good luck today.

Pound Canadian

The GBPCAD has produced a short signal this morning. My stop is above the swing high.

Im off 4X4 driving again today so today's post is short and sweet. Please do your own analysis.

Happy trading.

Cable Loonie

The FTSE plummeted on Friday and the US is having huge problems alongside there debt issues and the market shows this. This is music to my ears and it should be to all of you reading this.

First of all, the above chart is the GBPCAD hourly and I am short on this based on my strategy signal. Thank you for the emails this weekend regarding the profits some of you made based on my analysis for day trading on last week. I do not day trade generally but I wanted some extra money so that is the reason for these positions.

Now, going back to the markets turning down and some people are now getting very worried we are heading for a bear market with high interest rates and possible recession. If this happens then this should be putting a smile on your face. The 80/20 rule appiles here and we should start to realize good profits. I urge everyone to position themselves on the markets accordingly but be aware of the kiss goodbye (786/886).

Happy Trading.

Cable Loonie

The FTSE plummeted on Friday and the US is having huge problems alongside there debt issues and the market shows this. This is music to my ears and it should be to all of you reading this.

First of all, the above chart is the GBPCAD hourly and I am short on this based on my strategy signal. Thank you for the emails this weekend regarding the profits some of you made based on my analysis for day trading on last week. I do not day trade generally but I wanted some extra money so that is the reason for these positions.

Now, going back to the markets turning down and some people are now getting very worried we are heading for a bear market with high interest rates and possible recession. If this happens then this should be putting a smile on your face. The 80/20 rule appiles here and we should start to realize good profits. I urge everyone to position themselves on the markets accordingly but be aware of the kiss goodnight (786/886).
happy trading for today.