Has Loonie further downside?

I shorted USDCAD this morning based on my mechanical trading strategy shown above. In addition it looks like we have a bear flag going on which has recently been broken but beware from a swing trading stance as it could be a fake break out. However, that wont bother those of you that use a mechanical system of some sort.

A friend of mine John M. who has an estate agent business managed to acquire his first good profit yesterday using a mechanical system so I would like to congratulate him. He has been trying and trying to get his trading up and running consistently and I think now he has managed to acomplish that so well done to you and good luck to you and Vasha. Remember, follow the rules.

Hope you all captured good profits yesterday as well.

Have a great weekend. I will update on Tuesday next week.

Good luck today and happy trading.

Loonie

In addition to todays post below I am adding the above hourly chart of USDCAD which I think you may all find interesting.

Kiwi Yen Bounced

I recieved two emails asking how I knew we were going to bounce on the NZDJPY as per my post on Monday. I actually never know what we are going to do, I only take educated guesses based on my analysis and what my mechanical trading systems tell me. It is true looking at the chart above I do not have a buy signal on this trade for Monday but based on experience, candles and an educated guess I thought we may have consolidation or bounce and as you can see it has done a nice bounce so far.

Those that took the retracement long (and I know one of you that has) will be around 300-400 pips in profit. Lock in profits now. Look at the blue moving average as the high point resistance.

Good luck today. I will post tomorrow morning.

Continuation, Consolidation or Retracement?

Good morning everyone,

After big moves we should normally expect to see consolidation or even a retracement and we have a some good moves last week. As you all know, I was short NZDJPY last week and I know many of you took that trade and made a large profits. I am short the NZDJPY (15 minute chart above) and have made my days quota as I write this at 09.10am. Currently managing the trade.

For those of you that are in USDCAD positions, we have some news out tomorrow so be prepared and take the appropriate action.

Below is a very kind email from Barry for those that have asked me about him and his new lifestyle.

Good luck for today.

RETIRED!

It has taken me two and a half years to learn to trade well enough to consistantly make more money than I was working. It has not been easy, I have had many sleepless nights wondering if I could do it. I have been close to giving up a couple of times when I have had a number of losing trades in sucession without proper money management, which can seriously hurt your account! As I wrote about last time.

I cant tell you how happy I am that despite everything the markets threw at me I kept on going back and trying harder, spending more hours infront of my computer, analysing charts and backtesting trading systems.

The one thing that gave me the confidence and most of all the BELIEF that I could suceed was that I knew people who were trading successfully and living off their profits, predominantly Javid, he has shown me trading methods and systems to help me to suceed and been my mentor when I needed help. I cant thank him enough for the help and time he has made available to me.

All of you by visiting this website know it is possible, and I hope that what I write gives some of you that are maybe thinking of giving up, the self belief to continue because it is possible to suceed.

After I had given in my notice I was exited but also quite scared, this was going to one of the biggest changes in my life. I was now going to be dependent on my trading for my entire income rather than a secondary income.

I have now been retired for nearly 3 weeks and I am averaging 300 pips per week, which is enough for me to live comfortably on, but I was still apprehensive that if I had a bad couple of weeks I would struggle.

This apprehensiveness was blown out of the water on thursday, I was 500 pips up for the day by 10am, as those of you that saw the website will know. I then locked in my profits and took the dog up the fells for the day.

When I got home at close of play I had made 1030pips in one day, I made in one day what I used to earn in two months!!

Thankyou Javid for all your help, I couldnt have done it without you.

Happy trading.

Barry.

( ex.turkey catcher )