Hello everyone,

I apologize for not having updated the blog in the last two days. I am working hard trying to have a document where I explain in detail all the aspects of my trading system ready for this weekend, so I could not update the blog yesterday Thursday and today Friday I haven’t even looked at the chart. When I began elaborating that document I didn’t realize that it was going to be so much work! I have only one more chapter to write and I am yet to upload the whole lot on the server, but since I really know nothing about any of this technology stuff it’s just taking longer than expected.

Anyway, yesterday I took one trade on EURCAD for +41 pips (video below), today I have taken none and my trading week is over since I don’t trade Friday afternoons/evenings. The results for this week have been +5, -29, +30 and +41 pips so all in all about +47 pips for the week.

Alright guys, I let you go now - I’m going back to finish that blasted document! Have a great weekend :)

Hello everyone,

Quiet day today to be honest, I haven’t seen many setups that I particularly liked on my charts. The only two that were looking tradable according to my system were EURUSD and EURGBP. I took the EURGBP one for +15 (+30 if we take into consideration that EURGBP’s pip value is double) but I couldn’t benefit from the EURUSD move as it never quite gave me a pullback to base my entry upon.

Anyway, I am going to call it an early day because like I said I haven’t found that many setups tickling my interest. That’s the beauty of trading Forex: if you don’t have any work to do, you can leave the office anytime you wish!

EURGBP and EURUSD setups explained below.

click on the bottom right corner to enlarge the video

Hello everyone!

Today I scored the first loss on USDCAD for the last two months. After having profited downswing after downswing, today a nice triangle formed overnight and broke to the downside as London opened up. Upon entry, price decided to pull a 180 on my and triggered my stoploss rather quickly for a total loss of -29 pips.

I was also following EURCAD searching for a breakout of the overnight horizontal range to the downside but it never happened and continued range-bound all day long.

Anyway, the USDCAD trade walk-through is recorded in the video below!

Hello everyone!

I hope you enjoyed your weeked :)

Today I took a London open breakout type of trade on GBPUSD short. The setup was crystal clear, the breakout took place right as London market opened up, I triggered my entry as per my system, and price sailed to +30 pips in a relatively short time (I am aiming for +50′ish on this one). However, after noon London time price stalled and began moving sideways for hours around the +20 pip profit level.

I dislike being positioned in momentum-less markets and London market was about to close (and thus my trading shift), so I decided to move stop to +5 and let it run at its will to either my final target or my stoploss. Well, an hour later my alarm sound warned me that I had been stopped out at +5 pips.

So all in all a humble profit. Shame because the setup was very clear but somehow this rocket ran out of gas halfway through. Oh well…

Hello everyone,

After the beautiful down swing I rode yesterday on both EURCAD and USDCAD, they are again setting up for a new swing formation. However, even if everything falls in place as it should, I will pass on the next signal and here is why: USDCAD is right now at the time of writing these lines banging onto the previous historical low on the monthly chart and therefore we might find some support off this level. I am not a market-oracle, and there’s actually no need to foretell the future in order to be a trader. What you need to be is sensible and conservative and I am not ready to sell onto a historical support on the monthly chart. Remember what I always say guys: trading is all about buying support and selling resistance. Am I going to enter short after having rebound off a monthly-chart support? no chance!

Furthermore, the possible support on USDCAD might affect EURCAD as well, so until this 1.0930 historical support on USDCAD gives way, both CAD-crosses are banned to the short side as far as I am concerned.

Play it safe guys, be wise, be sensible, minimize your risks, and money will eventually come your way.

Anyway, it’s Friday approaching the noon-hour London time and I haven’t yet found any trade, so I think I am going to call it an end for the week and head out to the park with my son :) It’s been a profitable week (EURGBP +7 & +0; GBPUSD +55; EURCAD +22 & +72 and USDCAD +40 & +55), so no need to push the envelop with risky late-Friday trades.

Enjoy the weekend everyone!