Currency Strength and Weakness for Tuesday 9th July 2013

Andrew Mitchem

Special Consultant to the FPA
Messages
3,130
Hi Traders,

I make my suggestions every day based on where I see the market heading over the next 24 hours. Use my analysis below to aid your trading and to help you keep on the right side of the market.

My suggestions are posted by 6pm EST each day.

The market remains very quiet and without a clear direction. This is possibly the quietest 2 or 3 weeks I’ve ever know in my trading career so just be patient and the market will eventually break out of this rut.


Overall there is some minor strength in the NZD and AUD.

Overall there is weakness in the USD, CHF and JPY.


Trading Directions I am favouring for the next 24 hours


Buy Trades - NZD/JPY, AUD/CHF

Sell Trades - None


VERY IMPORTANT: These are not specific trades. Do not blindly place trades in the directions given below. Use your own trading strategy and look at taking setups that occur in the same direction as my daily analysis. If you don't have your own trading strategy then email me here




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To Your Trading Success.
Andrew


- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?

Learn how I do it>>

 
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Hi Traders,



The market remains very quiet and without a clear direction. This is possibly the quietest 2 or 3 weeks I’ve ever know in my trading career so just be patient and the market will eventually break out of this rut.


Trading Directions I am favouring for the next 24 hours


Buy Trades - NZD/JPY, AUD/CHF

Sell Trades - None

I've made 500 pips in this calm trading day . :)
Traded AUD strong & USD weak. Basket manager was set to close at 1000 $.

curr strenght results.png
 
Hi Shogun,

Yes in the end it was an excellent day to trade. I picked up 5/7 winning trades and made a 1% account gain for the day.

I notice that all of your position sizes were equal and there were no stop losses or profit targets in place??


- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?

Learn how I do it>>

 
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Yes, they are all equal in size because when I trade a basket I have an EA to manage this basket by total $ not by number of pips. :)
For ex now I have a NZD Weak trades in a basket till Tokyo Open. As you can see if I close now there are already 35 pips profit.
NZD weak.png
 
You guys are awesome. But I made $10 million today off the 5 min charts. Kidding. Any losing trades out there today 'sides me?
 
You guys are awesome. But I made $10 million today off the 5 min charts. Kidding. Any losing trades out there today 'sides me?

Hi,

Yes I had 2 losing trades yesterday - it's just a part of trading. Overall the result were positive which is always a good thing!


- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?

Learn how I do it>>

 
Last edited by a moderator:
Yes, they are all equal in size because when I trade a basket I have an EA to manage this basket by total $ not by number of pips. :)
For ex now I have a NZD Weak trades in a basket till Tokyo Open. As you can see if I close now there are already 35 pips profit.
View attachment 10117

Congratulations on a good days trading.


- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?

Learn how I do it>>

 
Last edited by a moderator:
And here are results: 149 pips and 234 $. No need to be greed, it was a counter trend basket.
NZD weak results.png

Congratulations on a good days trading.


- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?

Learn how I do it>>


Thank you Andrew ! Wish you all from FPA only green pips, and good trading days too. :)
 
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