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Announcements

This site is currently inactive as I have decided to move away from exclusively trading Forex in 2010 and as such will not be taking on new coaching clients in this area.

 



I have resumed my focus on coaching as a stock market mentor where I run a success guaranteed stock trading mentorship program

 



Additionally, you can now get access to what I consider to be the best stock options daily trade alert service.

 



Of course, I am biased and with a success rate fluctuating between 68.2% and 72.4% it is hard not to be biased.

 



If you do want to follow along with what I am doing every day you can get access to my daily stock market report 

 

 

You can read the step-by-step Bollinger Band Trading Strategy Guide - this is my main active trading strategy



Until next time


happy trading 


Mr Phil Newton or on LinkedIn Phil Newton trader

Week commencing 8th October 2007

BroadSword's picture
Hi folks, I was going to upload a chart, but the site doesn't ssem to want to let me do so :thinking: Anyway, looking at EURUSD, price has behaved very nicely and can clearly be seen to have been in a rising channel (on the 8hr chart), peaking just short of 1.43 and then another retracement channel (bull flag?) down to present levels. I think we're seeing good each way opportunities on the intermediate timeframes here - how this instrument reacts in terms of a more definate down trend on the larger timeframes (weekly) or alternatively a retrace before testing the highs is something we will have to see. I'm runnning an intermediate TF swing strat on EURUSD which is automated, though with the 'context' as to whether to bias to long or short trades inputted by me, using the weekly bigger TF trend. At the moment I'm seeing this price action as a retrace rather than a bias reversal on weekly... (cable 8hr breakout also continuing, again in context of overhead conditions. I'm using the EURUSD as a full swing strat, and the cable as a semi swing only, ie. not allowing retracement) Anyone around this week?