Winners Edge Trading» Trade Alert

Usd/Chf: Weekly Chart Swing

Michael Storm — Tue, 01 Jun 2010 03:57:05 +0000

Here is a chart of the usd chf on a weekly and it looks like its ready to break down:

Below is a chart of the usd chf on a daily and it is ready to make a daily sell setup.

My entry will be on a break of the recent daily low. Trigger price of 1.1530 and the stop will go to 1.1605 (above the last candle). I have 2 targets for this, the first being the weekly pivot low at 1.1305, at which point half the trade will go off and stops set to break even so the rest of the trade becomes a “free” ride. The other target is more aggressive and may take some time. 1.1068. As always we should use good money management on swings, not over leveraging our accounts.

Eur/Usd: Divergence Setup

casey — Sun, 30 May 2010 11:02:22 +0000

The Daily Eur/Usd is showing a divergence on the 14 period RSI which indicates a possible reversal. I only trade price action based on candlestick patterns and I don’t use any other indicators. However this is just another confirmation that shows a possible buy setup. When trading it is best to find as many confirmations to ensure a higher quality setup. The more items stack in your favor the higher probability you will have a successful trade. There is no such thing a perfect trade so you must continue to use sound judgment and proper money management no matter how many confirmations you have.

Daily Chart Eur/Usd May 30

Daily Chart May 30 Eur/Usd

You can see on the daily chart that we have a double bottom that has formed at the price of 1.2137. If this bottom holds we could see a price of 1.2550 which is where the price will run into the downward sloping trend line. If the price breaks through the upward trendline we could see some more upward price movement to possibly 1.3900 area because of the 200 period MA at that level. That is an unlikely scenario at this time but if that trendline gets broken to the upside we could have a large retracement.

I am going to be looking for a long position if we get a bounce off of the support level at 1.1237 or if the daily candle closes above the close of the previous candle at 1.2350 If the price closes above the 1.2350 level there will be 3 confirmations:

1. Candlestick signal long above 1.2350
2 Bounce off of support and double bottom chart pattern
3. Daily chart RSI divergence

With those 3 signals look for a high probability trade.

I realize that I might get a lot of negative feedback by saying to go long the Euro because of the terrible slide the Euro has been in. In addition the Euro has been having bad news after bad news hitting it. This is a short term trade bounce I will still be looking to short the Euro when I see signals arrive. Read this article to get some good information about where the Euro Could be headed.

When trading always use a stop loss and calculate the proper risk management for your account. This analysis is provided to assist the forex trading community here at Winners Edge Trading to make informed trading decisions. If you would like to get more help then you can try our our premium trading service.

One other point always make sure you are keeping up with the news of the day and that is why I am always reading other blogs.

Usd/Chf: Shooting Star

casey — Tue, 25 May 2010 21:37:32 +0000

There is a shooting star candlestick formation on the daily chart on the Usd/Chf. This candle signal indicates that buyers have temporarily run out of steam on the daily chart. If the current candle closes lower than the previous candle then that would be a great sell based on a price action strategy. A good place to put a stop would be above the daily high on the candle that has formed the shooting star which in this case is 1.1711. A potential target on Usd/Chf could be 1.125 because the 20 period moving average is at that current price level and many times the 20 period moving average acts as support when the price is in an uptrend.

Take a look at the daily chart to see what I am try to describe.

Daily Chart Usd/Chf

You can see that the price has stopped its rise rather quickly and that is why the shooting star has formed. I however like to wait until the next candle closes because that is a more solid indication that the price is changing direction. Even if I have found more confirmation I still always trade with only 1% risk on any one trade. That way I can have a large amount of gains while I am limiting my potential losses. Over time using a money management style like that will produce substantial long term gains. Don’t get greedy and one way to help yourself from getting greedy is to look at the big picture. What I mean by that is try to imagine how your account will look 5 yrs from now if you follow your trading plan.

4 Hour AUD/USD Trade

Michael Storm — Wed, 12 May 2010 02:16:22 +0000

Winners Edge Trading Trade of the Day

Michael Storm– Michael is the lead trading coach at Winners Edge Trading he is teaching live everyday during the NY session starting at 8 am. You can join Michael live by joining the Winners Edge Trading Premium trading Service.

Hi Fellow traders, Just wanted to share this chart with you and a possible swing trade idea. This is a 4 hour chart of the AUD USD. I have been watching and trading this pair an awful lot lately and as some of you know I am quite bearish. All time frames look good to me, the daily the hourly and even this 4 hour chart. Now, I realize that there are a LOT of different traders in the world and NOT everyone trades things the same way. So others may disagree with me, but I am putting on three positions on this pair in a swing account and am trying real hard to NOT touch it till we burst through the lows of 88 and especially 87

4 hour chart

In this chart you can see all kinds of rejection from just under 94 and going over the course of many sessions towards the 93 area. I am going to place an ULTRA wide stop on this pair ABOVE the 200 MA on the 4 hour. Right at the 92.75 area and I am looking to take it off in thirds on the way down. Daily is suggesting a target of a critical pivot at .8577 and I think a bit below that. That is my target. This may take a WHILE to work out and the STOP is HUGE so, PLEASE if you take this, do with some really SMALL size. My position size on this is being done accordingly ! Till next time, Happy trading! Michael Storm aka robinhood

Possible Short Trade

Michael Storm — Mon, 05 Apr 2010 06:39:50 +0000

Hello traders, I am going to keep this one short and sweet. Will leave out the fundamentals of why NZD should be heading south (but there are some good reasons… do your own do diligence). Here is a possible short trade idea on the NZD yen. If you start with the daily chart, take a look at the series of lower highs developing. This may be a good area to start taking note of this pair (as well as the AUD/yen). It may not be ready yet. But I am watching this pair for a short setup. Perhaps you could keep this on your radar. I have drawn in a possible target around the 200 MA near the 64.40 level Till next time, Happy trading! Michael Storm aka Robinhood.

Daily Chart

1 HR Chart

Trade Alert: USD/CAD

Michael Storm — Sat, 13 Mar 2010 04:15:13 +0000

Hi Folks,

Michael “Robinhood” Storm here, Signing in again here with a potential trade set up on the USD/CAD pair…

We have been pretty stacked to the short side on the euro dollar and pound dollar pairs and you know what happens when we get too heavy with the shorts. That’s right, there is a possibility of a short squeeze and shakeout happening now. See the charts at the close of Thursday’s session there were MASSIVE amounts of ascending triangle patterns on all the charts and all the time frames…. HIGHLY indicating we were going higher. And Higher we went, and it looks higher still ! Just a lousy 23.6 FIBO retracement on the daily puts us up another +150 pips on the euro. It is possible. SO, let us look to the USD/CAD

15 Minute Chart *Note Click on the Chart to learn about our premium service.

Here in these charts you can see several things. Notice that CRITICAL daily support has been busted! The circled areas indicate the danger zones. Also look at the FAKEOUT breakout that happened on Thursday’s session:

The circled area is the fakeout breakout. That trapped a lot of people! And what is happening now? A real honest to goodness knife fight. A very bearish looking pattern on the hourly and the 15min indicating to me that we are heading toward PARITY, yes one for one. Or shall I say the potential target on this is 1.0000 Notice the bearish channel between the lines on the hourly and the WRB igniting the move lower. So far we have not even been able to hit the 50% of this mega bearish hourly candle! A real good sign indeed.

SO, watch this Monday and Tuesday, should we break 101.50 we could well have a 100+ pip movement really fast. Specially if the euro and pound squeeze higher. Also consider the possibility of a bounce first. That would be an ideal entry…. to get short in the vicinity of 1.0200 to 1.0220 areas with a stop above 1.0255 Till next time, happy trading !

USD/JPY: Trade Alert Now

casey — Mon, 25 May 2009 01:52:02 +0000

9:45 pm Est

Casey Stubbs – Winners Edge Trading

I am entering USD/JPY short at 94.64

Stop loss 30 pips
Target 93.85

I have many confirming indicators to help me in this trade. This is a forex trading strategy that I learned from a forex class I took a while back and it has been successful for me. The key is to use proper risk management and only risk a 2% stake in your trading account. So if you are trading, keep your trades small and that way you will grow your account instead of blowing your account.

1. The dollar is getting sold everywhere.
2. There is a descending triangle forming.
3. The stochastics on a 4 hr chart are pointing downward.

There is a downward trend line that the resistance point has not been broken.

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4 Hr Chart -

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