Trading Signals for Thursday, January 31, 2013

Another entry order got triggered, and the first entry order closed with the stop loss, making the loss count to 1 as of now. Now awaiting for the other 2 open orders to close, hopefully with the Take Profits placed :)

Going by the long-term charts, there seems the end of the bullish trend. The Dollar Index is also showing an upward trend towards its average of the month i.e. 79.97, currently it is at 79.3, which is just slightly up the lowest of the month at 79.21.

If not today, then tomorrow the bearish trend is going to begin, and I am all for it.

In case it does not, I suggest going in for another entry order as follows:

Sell at 1.3608 for 300 pips, with a stop loss of 100
Sell at 1.3658 for 300 pips, with a stop loss of 100

P.S: Currently no predictions for the commodities, awaiting the U.S. data that will release tomorrow.

Happy Trading!!

Trading Signals for Wednesday, January 30, 2013

It is the mid-week and the almost near-end of the first month of the year. Time indeed just flies. And with the ongoing time, my entry order also hit the trigger. So, now I have 2 short orders running on my forex platform. The recent opened one is giving a profit, while the earlier one is showing a loss of about 50 pips. But since secure stop loss is adhered to, I do not need to worry much.

Now, awaiting the first Friday of the coming month, February, that falls just 2 days from now. That day will decide as to whether the bull run will gain more momentum or it is going to be the reversal of the trend, suggesting an end to the upward trend that started from the month of August.

So, look out for the trend, my friends. From then on the strategy will take a lift, till then the orders remain as it as they were on the start of the week on Monday.

Just adding one more entry order, considering the heavy pull upwards, which is as follows:

Sell at 1.3558 for 300 pips, with a stop loss of 100

Happy Trading.

Trading Signals for Tuesday, January 29, 2013

It is the second day of the week, and not much movement is seen in the markets. May be it indicates a sign of a big trend build up. Nevertheless, I am continuing with the same patterns that I formed yesterday, one of the entry order triggered, and it is fairly in the green territory. The long term scenario seems towards down south, but the mid-short term ranges point upwards.

Since, our further entry orders and the stop losses are in place, hence our equity is fairly secured. Will wait for the rest of the day and beyond that for the week to come up with definite patterns.

Moving forward towards the commodities, both the bling metals are showing an upward trend, though I am still not convinced with it. To me it seems, a little drag down can come any time. Till it does not come, it is an excellent opportunity to scalp for 1-2 pips to bring up the equity, but a word of caution here, be very very careful and put clear stop losses and tight take profits, of course varying upon your own equity and margin levels.

Best of luck...

Trading Signals for Monday, January 28, 2013

The start of the last week of the month is today. Looking at the daily charts, it seems that the start of a bear run has begun for the Eur/Usd pair. Finally the long going bull run which started post the pair hit the lowest lows in the month of August is coming to a halt. So, for the current scenarios, the trades for the pair are as follows:

1. Sell at 1.3461 for 300 pips, with a stop loss of 100 (3:1 ratio of profit: loss)
2. Sell at 1.3501 for 300 pips, with a stop loss of 100

The first entry order has already triggered and showing a profit of 10+ pips currently.

All the very best.

P.S: Currently no forecast for the commodities, as the data seems confusing, so better not to get in.
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