CLOSE GBPUSD POSITION.

Close GBPUSD position at market price.

Today is the last trading day of the year and we are out of the market because of the break of the 5 day high as we can see in the chart. Click here for live charts.

Wishing You a Merry Christmas and a Happy Holiday Season to All!

May your celebrations be great!

And may your plans for the coming year be fruitful!

Move GBPUSD SL to 1.2577

Move GBPUSD Stop Loss to 1.2577

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The Price in this pair remains weak and we remain in our sell open position.

Hold GBPUSD Sell Positon

We are holding our GBPUSD position. We expect the downward trend to continue.

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On the other hand we have not bought Crude Oil because of the recent divergence suggesting a slowdown in the upward movement. It may well turn out to be a missed opportunity.

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Stopped Out on GBPUSD, Flip and Sell

Our GBPUSD position as of yesterday was stopped out for a loss.

New Signal: Sell GBPUSD between 1.2530 and 1.2500.

 

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Currently in GBPUSD Long Position

Our GBPUSD signal to go long at 1.2708 with a SL at 1.2538 was triggered yesterday. But prices are yet to move. 

GBPUSD Entry Order

GBPUSD: EO: 1.2708,
                  SL:  1.2538.

There is an indication that the upward movement may become a sustained uptrend since we now have several days (candles) above the 20 and 50 EMAs. As a confluence we also have a trendline support.

As we go into the holidays season we will be expecting very few signals to develop in the markets.

Remove EURUSD Entry Order

Delete EURUSD buy entry order.

New EURUSD Entry Order, Remove NZDUSD Entry Order

EURUSD: Entry 1.0800

Stop Loss: 1.0575 

NZDUSD: Delete Entry Order  

(If due to a delay this entry order triggers then simply close the trade before prices move significantly against you).

Yesterday we had long daily bars that exceeded the average true range in some instruments due to the slight tremours caused by the Italian referendum.

EURUSD Stopped Out, NZDUSD New Entry Order

EURUSD: Stopped Out for a 120pip loss.

NZDUSD: Entry Order: 0.7162;
                   Stop Loss:  0.7033


With the holiday period fast approaching we may find a rather quiet market environment for  a few weeks.

New Entry Orders

Entry: EURUSD : Long @ 1.0672,
                              Stop Loss @  1.0552

           USDCHF: Short @ 1.0095,
                             Stop Loss @ 1.0204.

Meanwhile: NZDUSD was stopped out at 0.7055.

          

Long NZDUSD

Long NZDUSD at 0.7150
Stop Loss at 0.7056

We have taken a buy inspite of the fact that we have a counter trend move going into a resistance zone. I think that because of the divergence we see on the chart there is a chance that the strong price movement over the past few days may break throught the resistance. Moreso because our oscillator is also showing very bullish indication.  Meanwhile, we are ready to flip round and sell if the downtrend resumes.

Stopped Out in Oil Again

We are stopped out of Oil with a loss for the second time. This last loss was as a result of an error. I entered the market late and in the rush placed the stoploss too close. And the market was unforgiving.

 But after several days we are still in the GBPUSD trade which is yet to move.

And beyond that we have no new entry orders yet...

Stopped Out on Two Positions in Oil.

We have been stopped out on our two positions in Crude Oil at 45.51. The first position was stopped out at 139pips in the money while the second was a 283 pip loss.

And we have immediately reversed our position with one sell trade. The sell trade should have been taken above the 46.00 level, immediately after the close of the two positions. However immediately after the market open prices slipped very fast so we are about 100pips late. However we feel confident that we can still make a good trade of it.

NZDUSD Stopped Out

Our NZDUSD counter trend trade which we entered last Tuesday has been stopped out after two days. Similarly prices have not moved in GBPUSD and Oil either but we remain in both trades.

Remove GBPUSD Buy Entry Order

Yesterday we had a buy entry order in the GBPUSD pair but since it has not been triggered the order must be deleted. But we remain in the sell trade.
We must also make sure that the open long positions we have in Oil must both have their Stop Losses placed at 46.07.

A Few Positions Early in the Week

Our GBPUSD sell position is not looking very good at this point in time we have  a buy entry order with the posibility of piercing through the resistance zone. Buy Entry at 1.2515 and Stop Loss at 1. 2291.

We have a NZDUSD buy entry order at 0.7081 with a Stop Loss at 0.6974. 

 The Crude Oil buy Position on the other hand is looking very good, after the sell position was stopped out at 46.64 for a 187.6 pip loss. We can place an entry order for a second position in Oil at 48.54 and a Stop Loss at 46.07.

We also took a loss of 147.4 pips on our long position in USDCAD. 

Be mindful of the markets. Things are about to get very busy.
Happy trading!

Price Moves Ocurring in Oil

There wasn't much price movement as we went into the weekend but Crude Oil has had some activity this morning. On Friday we saw a strong resistance level at the 20 and 50 EMAs which signalled the continuation of the downward movement so we took a sell position. That position has now been stopped out at a loss of 187.6 pips. 

However our buy position in the same instrument is 281.5 pips in the money, and we have also moved our Stop Loss to 44.24, which is a breakeven level. So there is no further risk on this trade. 

Furthermore, if Crude closes very strong, above the two EMAs today we can expect a bullish week. And that means that we might add another buy position. 

The two other open positions that we have: GBPUSD (short at 1.2375) and USDCAD (long at 1.3536) are yet to be in the money and it is still OK to enter if one hasnt entered yet.

Entry Orders for 3 instruments.

So we are back to anticipating a sell in GBPUSD.
So we have a sell entry order at 1.2375
With our stop loss at 1.2538

Next we have an entry buy order in USDCAD at 1.3536, which was triggered almos immediately. So we are currently in the trade with our stop loss at 1.3389.

 

 And finally for our long Crude Oil position we need to move our stoploss to 44.24.

We also have another signal for downward trend continuation. 

Sell entry at 44.77 with a stoploss at 46.64 

 

Happy trading!

We Are In Crude Oil Trade

So we've been able to go long in Crude Oil above the 43.78 high of yesterday. It was a bullish day and price movement may meet with resistance at the two moving averages (20&50ema). If this happens then we run the risk of being stopped out of the trade, and the probability that the downward trend might resume. So we remain flexible and ready to switch. 

GBPUSD Signal Not Strong enough, New Signal with Crude Oil.

With yesterday's post we were expecting to get a sell signal by the end of the day, but the signal is weak because, while the bar closed near its low it was still not low enough. Some one may chose to sell with the unfolding chart pattern but I prefer to wait for only the best signals.

 So we have a very strong signal with Crude Oil. The strong sell off in Oil which has met with a strong support at the 43.00 zone if further supported by a clear divergence.

This is our first signal:
Entry Order in Oil at : 43.85,
Stop Loss:                  42.00,

New Forex Setup Developing in the GBPUSD

So I hope you all had a good weekend.
Now we have a sell trade setup developing in the GBPUSD pair. Indeed the signal seems  so clear that I imagine some traders would already be in this market. This is because we can see prices rising into a clear resistance zone after several days of sideways movement. After last Friday's spinning top (or doji, I really dont know or care the proper names) prices have stalled. The probabilty of prices going lower is further confirmed by a CCI divergence as seen with the purple lines on the chart and oscillator.

For our setup‌ to confirm a sell signal we need today's candle to close near the low of the day. If this happens then we'll enter a sell position upon the break of that low.

ERRATIC PRICE MOVEMENT ON US GENERAL ELECTIONS

So as expected the price action of some forex pairs and most indexes has become erratic. Any new position in the markets with a stop loss was definitely stopped out. We have to wait a  few days for the markets to resume their initial state; wether trending or range movements. I dont expect this erratic state of things to continue for much longer, then we can hope to have some trade signals by next week.But for now we are still out of the markets.

Still No Signals Yet

Well fellow  traders,
The markets are slowing down and to some extent I guesse its because of the US elections coming up today; so we dont have any signals today either.  

But since we traders always have something to say about the markets even when there isn't much market activity, here goes. So, after the fall of the price of Crude Oil over the past two weeks from the 51.50 resistance area, prices have found strong support at the 43.50 area. What is more, yesterdays market activity in Crude closed bullish. Under such circumstances it would be an excellent signal to go long today. And indeed, I imagine that some traders would have bought a few contracts of Oil, but I would like to wait till after the US elections. I can't say if it would impact the markets much, certainly not sure about crude, but I'll just wait.

Trading Instruments to Follow

As I have stated, this blog will primarily offer trading signals for free, and the instruments that we will be following will be the major forex pairs and a few minors. Also I find crude oil to be very interesting. It tends to reflect the global economic situation, so we'll include it as well.

So these are the major forex pairs:
EURUSD
GBPUSD
USDJPY
USDCHF
AUDUSD
NZDUSD
USDCAD

We will also follow these minors:
EURJPY
EURGBP

And one commodity:
CRUDE OIL (US prices)

So I think 10 instruments in all is a nice round number to begin with.
We have no new trade signals yet but we're likely to get some this week. Crude Oil is a bit oversold as it has been in a downward movement for for last two weeks so there might be a pullback with a signal over the next two days.

 Some people may see these instruments as being few and the market activity slow because the signals are only for daily candles, but I can assure all my readers that things can also get pretty exciting on the daily time frame but without the anxiety that comes with daytrading.

Welcome!

Welcome to my new blog, this 3rd of November in the year of Our Lord 2016!

This blog is created simply for the purpose of sending out forex trading signals to help traders trade profitably. Beginner traders are the ones we hope to help, where ever they may be along their learning curve. These signals are the very same ones I am using on my live account.

The signals on this blog may be traded by anyone for free. Of course you will want to demo trade the signals first for a month or two to be certain that you can use them to make money in the markets. We will begin by offering the major forex pairs and oil. 

My trading time frame is the daily charts so you need to access the signals and make your trading decisions only once a day. The signals will be delivered as a new post everyday, so you can simply bookmark this page and return to it daily. 

We will gradually add some resources, mostly external to help others speed up their learning curve, but we are not forex educators. There are enough of those out on the web. However, we have notices that even there are very few good forex signal services, what's more, the free ones are just too poor. Where they are not so poor they may be shrouded in noisy forums. 

So we are giving a simple, free and easy service to follow. And we hope that you will find our signals to be superior to what you may have seen before. 

Happy trading!