Hello everyone,
Today I have received quite a few emails from some guys who’ve taken my Forex Course asking me why I didn’t take the AUDUSD trade. Puzzled, I pulled out a AUDUSD chart and there it was… a crystal-clear channel breakout in the direction of the Moving Averages!
Somehow I had I missed this setup in my early-morning pre-session market scan which rather surprises me because like I say it was one of those setups that stand out among the rest. Anyway, congratulations to all of you guys who profited from it. Well done applying my system perfectly :)
Let me now review that trade in the following video.
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28 February, 7:13 am
GBPCHF has clearly broken to the downside Hector at 2.1245 (in my humble opinion), netting me +74pips in profit. I have decided to close my position at 2.1082 as I type because the pair is coming back to the pullback (on the 4hr time frame). Will you THEN be searching to go short on this pair? (following the continuation) or should I be content with what I’ve got and call it a day?
28 February, 11:17 am
Daniel, I am still following all GBP crosses for new entry-opportunities upon the first pullback. I missed the first breakout thrust - I don’t want to miss the continuation swing.
-HECTOR-
28 February, 12:31 pm
Hey guys,
I have a doubt, let’s say you have a position opened from two hours ago and you are already in 50 pips profit. Let’s say that you move your stop loss to make sure you at least will earn 40 pips. What would happen if a fundamental announcement happen after you moved your stop loss?
I mean, would your stop loss order be filled to keep those 40 pips? Would the broker guarantee you to earn those 40 pips? Or on the contrary, if there is high volatility during that announcement, you might not get your order filled, coming even to a loss if the price gaps let’s say 80 pips against you.
I am asking you this because if the broker does not guarantee those 40 pips, then you should close that order before the fundamental, right?
Look forward for your opinion.
Thanks in advance.
28 February, 2:31 pm
Hello Hector and guys,
I’m seeing daily EURCHF breaking a flat top triangle to the downside. It’s about to trigger a break-pullback in my chart. Does it seem healthy?
I also see AUDJPY in a good up trend on 4h, ranging in a horizontal channel. A break to the upside seems good.
Jaime
28 February, 8:17 pm
Hi guys,
Manuel - As I mentioned yesterday, if price gaps beyond your stoploss you will most likely be slipped on your exit. Plus tight stoplosses through news will make you an easy target for stoploss hunters. Either way, it’s a bad idea.
Jaime - I agree on AUDJPY: a breakout above 100.50 looks good for long opportunities.
Cheers,
-HECTOR-
28 February, 10:15 pm
Jamie - yep been following this too…. thanks for writing it down :)
Hector - on the DAILY, GPBCHF has a breakout, no bullpack however this pullback can be seen on the 4HR chart, at approx 2.1043….. in your opinion is this pullback too weak or does it qualify ? (because I chickened and stayed out of the trade)
Guys, I guess you all agree, this week has been a BEAUTIFUL week, hope you have all made some massive pips! :)
28 February, 10:26 pm
Sorry I meant pullback (not a bullpack)!! :)
29 February, 12:19 am
Hello Daniel,
Nop, no pullback I could base an entry on GBPCHF on. It really is disappointing because I had talking about GBPCHF on the blog for WEEKS! and when the breakout finally takes place, I couldn’t profit from it :(
However, GBPAUD did give me the entry. I am uploading the video on the server as I type these lines.
-HECTOR-
29 February, 7:17 am
GPBAUD looks amazing! Hope you got in early ;) (Well you did get in early, you were in past midnight in the early hours of the morning) lol!
I just took an entry on the GPBCHF (based on my hard headedness mostly, and a crisp 30minutes chart)
:D
I won’t be taking any trades next week guys, I will be in Bulgaria (hoping not to break any legs with my skiis). Well if I do, it would definately be a good opportunity to spot some nice trades while in bed :)
It’s also election time here in Malta :)
Take care guys and it’s been really great getting everyone’s input through Hector’s blog
2 March, 2:00 pm
Enjoy the holidays Daniel!
-HECTOR-