Hello everyone,
As I scanned through my charts this morning, I came to realize that the Japanese Yen is the only currency right now showing consistent strength across the board, especially on the 4H charts: USDJPY, CADJPY, NZDJPY, AUDJPY, etc. All of them have their respective SMAs pointing south. Eventually it was GBPJPY the one to give me the entry signal upon a text-book bounce off the Dynamic Area of Resistance, which I was able to ride for +220 and +0 pips, averaging at +110 pips in total.
All in all it’s been a pretty stress-free trade, at least for the first portion of the trade which cruised down to my first exit limit order rather quickly. Unfortunately we formed a double bottom at 204.70 (yesterday’s low) and from there it retraced to entry level where I had my stop loss trailed to breakeven. What I am liking is that if that 204.70 level breaks to the downside tomorrow we might get further shorting opportunities.
We will see tomorrow…
PS: congratulations to David, a folk who enrolled my Forex Trading Course last week and today took his first trade based on my system (it was also this very same GBPJPY setup) for a +225 pip win - Well done mate!
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24 January, 12:30 am
Well done Hector. we watch you from freezing in our igloo in Canada. My wife is a budding trader. I am am a Family Doctor. You are in all our favorites. Our Cocker Spaniel ‘Fermat’ likes your voice. Our computer is in the kitchen adjacent to his living quarters.
Love your graphs.
24 January, 1:09 am
Wicked! I entered the same trade and was able to net 240+ using the 3 SMA’s I learned from your course.
24 January, 10:31 am
Hector
You are my Idol. Period
I watched every video in your track record. Just Incredible. I look forward to your videos daily. Keep up the good work.
24 January, 11:02 am
Hector, I also enrolled in your course about a week or so ago and I also made my first trade with the system (just as David has done). The only difference was that I entered that trade on the USD/JPY instead of the GBP/JPY. Well, there was one other difference - I scored only +80 pips, while David had a cool +225 pips. I feel like such a loser. ha-ha.
24 January, 11:04 am
Don’t feel bad man, David also outscored me on that one. I only made +110 pips off that GBPJPY setup.
Well done mate :)
-HECTOR-
24 January, 5:46 pm
Nice trade, Hector, I also was keeping an eye on it, but at the time it started down I was out of my office…:-(
Question: so you don’t take a look to the ADR when you take a trade on a 4H chart?
I want you to know that since I (try to…) use your method (first day: January 11th) I took 7 trades, all winners, over 300 pips gain. You’re great.
Ciao
Carlo
24 January, 5:56 pm
Hello Carlo, I am glad to hear you’re profiting from what you learnt on the course. Congratulations on such fantastic results :)
Let me address the ADR question: the ADR is VERY important for intraday trades (1H or lower setups), but for longer time frames is not so because you can expect trades to outlast the current trading session. Yesterday’s setup was based on the 4H so I didn’t let the ADR keep me away from the entry. On setups based on the Daily/Weekly chart, I dont even look at the ADR.
-HECTOR-