Trader Sonskyn’s Daily Live trades

November 16, 2012 in Forex

Just to recap I’m following a strategy based on a daily chart setup. The rules are simple:

  1. Only Currency Pairs of which one must be in the strong corner and the other in the weak corner….
  2. Only when my trend indicator confirms that the daily chart is trending up or down may I even look for entries.
  3. My signals are generated by an Oscillator indicating when the market is overbought or oversold.

Simple and easy, the catch is when you are eager to trade and you are looking at a daily chart the signals can take days to manifest…. So you need to SIT ON YOUR HANDS!

New signals this morning!!

  1. EURGBP: sell: 16/11/2012 Two of my rules are met, just the strength and weakness match that is not 100%, GBP is strengthening at the moment and the EUR is a bit flat. Anything can happen because of this…
  2. EURUSD: sell: 16/11/2012 All three my rules are met here as the USD is strong and bullish today.
  3. GBPCHF: buy: 16/11/2012 Two of my rules are met here, GBP and CHF is both on the weak side but GBP seems to be stronger. Due to this it can go either way…
  4. USDCHF: buy: 16/11/2012 All three my rules are met here, the CHF is significantly weaker than the CHF.

 

Waiting for a signal on the EURCAD…will have to watch my trades closely as 2 of them are at risk of changing direction in a flash…

Thank you and happy trading!!

 

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