Thursdays results:
I get excited when I have days like this.
I previously forecast on my blog that I would go short on the Euro. The pair was trading in a channel that was broken to the downside. In addition I predicted that the news would drive the Euro down against the Dollar. I was right on both counts and I had a profitable day.
Results:
Short 1 lot before news release at 7:30 am before the news release at 1.3125 no limit with a 100 pip stop with a trailing stop of 85 pips. The lot is still open and at the time of writing this I am up 210 pips.
Also when the channel broke to the downside I got in 3 lots short at about the 1.300
1st lot +55 pips
2nd lot +100
3rd lot + 190 pips and still open
Total for the day +555 pips
I hope anyone following this blog had similar success – if you did, please comment. I would be happy to hear about it.
Fridays Setup:
I believe that today we may get a bounce off of today’s slide. However I believe the pair will retest the 1.2762 low earlier this month. So I will be watching to see what happens. I am not going to enter short again unless the current slide, bottoms out and I will be waiting to re-enter on a pullback. The Euro/Dollar is forming a Descending Triangle and I am forecasting that the triangle will be broken to the downside. When it does we will be ready.
Setup:
Do not enter short unless there is a pull back then look for re-entry. To find a good re-entry point on a 4 hr chart draw a fibonacci retracement on the current downward move.
3 lots
1st lot stop and limit at 55 pips
2nd lot stop at 75 pips and limit at 100 pips
3rd lot no limit, stop at 100 pips and a trailing stop 85 pips
Here’s to good trading and keep me updated on your success.



