SniperForexTrader

Hello,

In this day of September 14 / 2010, I managed to make a trade almost perfect and make the most of the unreliability of the U.S. economy.

The euro was in a channel between 1.2627et 1.2910 and those for several weeks. It was obvious that at some point either the support or resistance is needed to be broken. The difficulty is finding the time or it may occur.

For my part, I decided to go on the basis of support after a quick retracement around 1.27032 and having a first objective of 1.29109. Seeing the evolution of the court and indicators 4hr, 8hr and especially daily, I decided to move my take profit level of around 1.30227, which seemed an interesting resistance.

At my indicators, EMA 10 EMA had just met 25 Bollinger, MacD growing, and the RSI> 50, indicating a sustained uptrend. All indicators are positive and its oriented in the same direction could only confirm the trend of the euro.

Conclusion: in this trade, I made about 300 pips gain.

+
Loic Richard

I’ve done it!, the month of January comes to its end and it is time to make a small summary.

In December, I made a score of 170 pips. I was quite pleased with this performance. The month of January was even more successful since I have re-focused my trading strategy and it allowed me to do more than 560 pips. I admit that achieving such a result was a real surprise for me and a source of stress to try to maintain the result obtained.

In my case, I have moments of stagnation in my trading and I find it hard to win. This creates a strong pressure and spychological stress, usually if not managed, the result is always negative. There is not an obvious solution at these times to pass the gap and go even further! Maybe some times I lack patience or I am not enough rigorous. Conclusion losses can come very fast.

This month has been interesting, from an economic point of view : the euro has had many weaknesses. I also benefited from the weakness of the Australian dollar.

From a technical point of view, I improved my strategy which has finally paid off. Initially, it was not evident. It’s cool to obtain this kind of result but I must remain humble because the next month is coming! I do not know if I will still be able to achieve such results. that is the challenge of the month of February!

December : + 170 pips
january: + 560 pips

Evolution of the cumulative number of pips won / lost during the month

Regards,
Loïc Richard

Hello,

Since the January 10, the euro is moving in a range between 1.4454 and 1.4507. It is interesting to note that there were two support / resitance interesting that could be exploited in the case of a trade on the rise.

The first is 1.4554, the  most significant one . We found another at 1.4489. This last one I used to open a trade.

Moreover, to 1.4454, a divergence began to form in 15 minutes but that was not very visible on the graph (you have to spend 5 minutes to actually see it). Conclusion, I missed my entrance and I preferred to wait for confirmation of the rising trend in 15 minutes.

I took my trade just above the support level of 1.44891 relying on the divergence of MACD, the intermediate support and EMA.

In terms of candelsticks, we had a configuration of a double bottom formed by two bearish engulfing patterns.

The goal was to reach 1.4541, which is a significant resistance is 47 + pips.

On the news, I waited until the ‘U.S. trade balance’ report have passed. So, it “could be” quiet on the impact of the news on the market and a possible abrupt reversal.

Objective :
entry : 1,4541
take profit : 1,4541 (+47 pips)
Stop loss : 1,4521 (- 20 pips)
Date : 13 january 2010

Chart : 15 mn

Regards,
Loïc Richard