9-24-09
4:16a GMT – Trade worked out beautifully yesterday as all targets were hit, stops were never even threatened and we walk away with 130 pips+ on the trade. Not bad. The pair also broke rising trendline support (blue line below) which signals more bearish news and we will look to reset shorts on a rally, preferably up to support in the 1.4725 range. It is Friday though so I won’t hold onto the trade for too long.
Trading Idea: Looking to sell into rallies, preferably near support at 1.4720, or if that is smashed through I will look near the former rising support now resistance (blue line below). From 1.4720 the short targets are 1.4685, 1.4645 and 1.4620.
(click to enlarge)
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September 25, 2009 at 07:16
Mark, I’m a new follower of your thread and am amazed at the quality of your analysis.
I have a question about the profit target. I notice that sometimes you’ll take a 50 pip profit but like yesterday you let it run for >100pips. What criteria do you use to decide if you’ll take a quick profit or let it run? I assume you look at the price action? Thanks.
September 25, 2009 at 13:19
Chris, glad to have you here. Depends on if I use 1 lot or multiple. If I use 1 lot then yes it is based on price action when I close it. If I use multiple lots I will close a lot at each target.
September 25, 2009 at 12:52
God that was a great trade. Thank you …it worked like you were in controlling the trade.
September 25, 2009 at 13:20
… maybe I am… ;)
September 25, 2009 at 13:00
MARK ARE YOU A FORTUNE TELLER???? !!!!
SPOT ON MATE
GOOD SHOW
September 25, 2009 at 13:22
haha no fortune teller. I guess I’ve been doing this long enough that experience is catching up with me ;). Seriously though, I always remind people I’m not always right! Always use good money management and don’t risk more than you can lose!
Glad to have you here Hendrik
September 25, 2009 at 13:57
Mark, Good analysis.
September 25, 2009 at 14:27
can anyone explain what just happened?
September 25, 2009 at 14:31
Hi Mark…great work today!!!!
I have a question, if the price goes back to 1.4720 this works again? or its diferent…THANKS!!!
September 25, 2009 at 14:43
Is that a double top for sell?
September 25, 2009 at 15:00
yeah another good analysis lol even when I am still not in, damn (sorry lol).
But good question from Gonzalo, the pair went up AGAIN to 1.4720, seemed as if it got rejected again but keeps hovering around there (1.4690), does it mean it will go back nicely again or do we have a different scenario now?
September 25, 2009 at 16:51
pls i would like to know what time you work on are you +5GMT , i think i’m always late for the fun ride, i would like to know the actual time your prediction is being sent. THANX ALOT
September 25, 2009 at 17:38
The times of my signals are always the second line of every signal. So for today’s, for example, the second line is “4:16a GMT ” which means that signal was posted at 4:16a GMT. Signals are generally good for the day.
September 25, 2009 at 17:38
It is working again… it hit 4720 and straight down :-)
that is nearly 200 pips a day
September 25, 2009 at 20:24
Am I missing out on some real cash by using virtual money?
September 27, 2009 at 16:02
Hi Mark.
Another fantastic call! Weekly candle showing reversal doji, maybe EurUsd is going south. What is your call? Thanks
September 28, 2009 at 01:45
i used your trading idea to sell on friday as soon as i read it, and as of a few minutes ago, i had an 80 pip profit, hitting the target of 1.4620. Of course that was virtual money, but im going to be using your signals from now on with demo money to see how i get on. thrilled that trade worked though, youve inspired confidence in me to use your signals.