Currency Strength and Weakness for Thursday 10th October 2013

[Andrew Mitchem]

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.


Overall there is strength in the USD, AUD and NZD.

Overall there is weakness in the GBP and CHF.


Trading Directions I am favouring for the next 24 hours


Buy Trades - AUD/JPY, AUD/CHF, NZD/JPY, USD/CHF

Sell Trades - GBP/USD, GBP/AUD, GBP/NZD, XAG/USD



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 for some suggestions


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To Your Trading Success.
Andrew

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- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?
Learn how I do it>>

 

[Prof8]

Nice calls... My strategy set up immediately after the post and took profits on AUD/JPY, USD/CHF, and GBP/USD. Easy, early day. Your report is greatly appreciated. Great job.

 

[Andrew Mitchem]

Nice calls... My strategy set up immediately after the post and took profits on AUD/JPY, USD/CHF, and GBP/USD. Easy, early day. Your report is greatly appreciated. Great job.

Hi Prof8,

Great to hear you have made profit today with the help of my analysis. Enjoy the rest of the day off!

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- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?
Learn how I do it>>

 

[M SYAHID]

how do you think to USD/JPY

 

[Prof8]

The turtle is jealous. I have no such luck (skill). Perhaps you could share the method to your madness. The USD/CHF and GBP/USD trades. What were the immediate setups? I look at the H1's and I don't see anything. And how do you set your profit/stop levels? In fact, f anything I get a buy signal in the Swissy not till just now, close the 15:00 bar. Just bought it. Watch what happens. 9115, TP 9188, 9097 stop. Specific enough. Now your turn.

Just keeping it simple like I said before... I use a couple of moving averages for trend along with the RSI. I also utilize candlestick patterns and S/R. Those setups happened immediatley after Andrew's post. Then later in the London session CAD/JPY and EUR/JPY setups occurred to add two more profitable setups.