Free signals and trade journal of ReadyForex
Today's news was :
-----------------------------------------------------------
Bernanke: economy faces 'numerous difficulties'.
Federal Reserve Chairman Ben Bernanke told Congress
Tuesday the fragile economy is facing "numerous difficulties"
despite the Fed's aggressive interest rate reductions and
other fortifying steps.
------------------------------------------------------------
Inshort according to news, expect a weak USD against major
currency pairs - USA economy faces 'numerous difficulties'. right?
WRONG! All those who sold the USD today got loss.
Now let me show you what I did today. This trade is still open!
I do not care about any news. I just analyse charts. Today I have
found a potential double top pattern in daily time frame of EUR/USD
pair and I opened sell right at the top. Currently holding sell with
locked +20 pips profit.
Image attached.
Kind regards,
-Muhammad Azeem
In this trade I caught a top.
I have got a sell signal today in USD/JPY pair.
Opening a trade is easy but if a trade starts moving in your
favour then you need to manage the trade.
So, I am now using protective trailing stop and I have
locked +10 pips in this trade. I am safe because I
can not lose this trade now.
This trade is still open. It is now time to just sit back
and let your profits run!
Image attached.
Kind regards,
-Muhammad Azeem
Great entry at top! Congrats.
FerruFx
Hi
I hope every one is fine and keeping good health.
I am expecting an intermediate term downtrend
in EUR/USD pair. See the attached image!
Kind regards,
-Muhammad Azeem
Thanks for your info of the trading
Nice trading style and good signals... Seems very interesing... Keep it up.
Hello traders
Good Day!
Well my technical stuff worked out again and
I have made profit in this trade.
Please note that there are times when I do lose some
trades but I always lose less and win big.
The money management and risk to reward ratio plays
a very vital role in trading.
In this post I am submitting a comparision image.
JPG file attached.
Kind regards,
-Muhammad Azeem
Hello traders!
I hope you are fine and keeping good health.
As you already know that I do not follow and care about any NEWS in trading.
Now for a news trader perspective, today is a "Fireworks Day" The NFP day.
Below is the list of news events that a news trader needs to consider
All Times In GMT
1230 US July non-farm payrolls, change
1230 US July unemployment rate
1230 US July average hourly earnings
1230 US July average weekly hours
1400 US July ISM, manufacturing (50.2)
1400 US July ISM, prices paid (91.5)
1400 US June construction spending (-0.4% m/m)
I am not going to consider any NEWS.
What I am going to do here is to publish my currency forecast based on
pure technical market analysis (Elliott Wave Principle)
The current time is 8:17 AM GMT and currently there are no NEWS out yet.
So, let me try to predict a market direction with technical tools and indicators
before any news event occur! Let see how the market unfolds.
:: My Game Plan For Today 01-August-2008 ::
Step 1: Looking for a SELL signal in EUR/USD pair but ONLY after a sharp
rally that must go above 1.5700 (previous high)
Step 2: Next wait for a valid sell signal.
Step 3: Skip trading incase of in-valid sell signal.
Exception: If market falls down instead of moving up then do not trade!
EUR/USD pair 1 hour jpg image attached
Kind regards,
-Muhammad Azeem
Http://www.readyforex.com
Hi Readyforex, please provide more posts here. I would like to learn your charts. thanks!
Hi Readyforex, please provide more posts here. I would like to learn your charts. thanks!
Okay.
Kind regards,
-Muhammad Azeem
Http://www.readyforex.com
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Hi
I hope all of you are fine and keeping good health.
:: A little about my trading approach ::
My trading is based on pure technical analysis.
I believe that the news is just the catalyst for technical events.
In my opinion, prices are so far ahead of any news story as every
conceivable fundamental possibility has already been discounted.
In this thread I will try to post the following:
1/- Free forex signals in major currency pairs
2/- Market trend in major currency pairs
Kind regards,
-Muhammad Azeem
Forex Trading Video Course, Managed Account, Trading Room