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Currency Strength and Weakness for Wednesday 12th February 2014

Discussion in 'Andrew Mitchem- Daily Strengths and Weaknesses' started by Andrew Mitchem, Feb 11, 2014.

  1. Andrew Mitchem

    Andrew Mitchem Special Consultant to the FPA

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    Hi Forex Trader,

    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 NZD, AUD and CAD.

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


    Trading Directions I am favouring for the next 24 hours


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

    Sell Trades - EUR/GBP, EUR/AUD, EUR/NZD, EUR/CAD, USD/CAD


    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


    FREE FOREX WEBINARS THIS WEEK FOR NEW FOREX TRADERS; click on my signature at the bottom of this post for more details.


    Regards
    Andrew


    - Andrew Mitchem
    The Forex Trading Coach
    Professional Forex Trader and Educator

    Learn How To Be Profitable with Forex Trading in the next 90 Days - FREE Webinar>>

     
  2. Alonedevils

    Alonedevils Master Sergeant

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    Hi Andrew Mitchem,
    Thanks for your daily signal, every Morning i always read your recomendation, and its helping me for my trading decision.
    :)
     
  3. Andrew Mitchem

    Andrew Mitchem Special Consultant to the FPA

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    Hi turtle,

    Sorry but you are incorrect my friend. Both suggestions yesterday ended up providing some great setups.

    I suggested a Buy Trade to my clients yesterday and here was the result from an account of mine. Either click on the link or on the small image below to see the trade.



    EURCAD.



    - Andrew Mitchem
    The Forex Trading Coach
    Professional Forex Trader and Educator

    Learn How To Be Profitable with Forex Trading in the next 90 Days - FREE Webinar>>

     
  4. Andrew Mitchem

    Andrew Mitchem Special Consultant to the FPA

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    Thank you for your reply. I appreciate it.


    - Andrew Mitchem
    The Forex Trading Coach
    Professional Forex Trader and Educator

    Learn How To Be Profitable with Forex Trading in the next 90 Days - FREE Webinar>>

     
  5. Andrew Mitchem

    Andrew Mitchem Special Consultant to the FPA

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    Hi Turtle,

    Maybe your right because knowing the target area on yesterday's EUR/CAD buy trade that I suggested to my clients meant that we were in and out of the trade for full profit before the reversal - making a reasonable profit in the process. Not a massive trade but still a 1.7:1 reward:risk trade that took me 30 seconds to place.

    See here and the small image below:
    EURCAD.


    - Andrew Mitchem
    The Forex Trading Coach
    Professional Forex Trader and Educator

    Learn How To Be Profitable with Forex Trading in the next 90 Days - FREE Webinar>>

     
  6. IceHyena

    IceHyena Recruit

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    I love to see the Turtle turn Turtle. As always enjoy your expert advise. Thanks Andrew.
     
  7. Andrew Mitchem

    Andrew Mitchem Special Consultant to the FPA

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    Hi Turtle,

    I'm not interested in where the pair closes the day so long as I have taken trades in the anticipated direction at sometime during that day. The fact that the EUR/CAD ended lower yesterday is completely irrelevant as I saw an opportunity to go long (Buy) as anticipated and the trade hit the profit target - I made money, my clients made money - that is all that really matters.

    My suggestions have nothing to do with getting in and out quickly and as I say EVERY day - they are not specific trades.

    You need a strategy first. Once you have that (such as my clients) I am then saying that ideally you should be looking at trades in the anticipated direction as they have a higher probability of success for that day.

    Once the pair had reached a certain level for the day (which they both did yesterday) I am no longer looking for buy trades in that direction unless there is a setup again after a retracement.


    - Andrew Mitchem
    The Forex Trading Coach
    Professional Forex Trader and Educator

    Try my Free Trading Calculator>>

     
  8. Bernhard33

    Bernhard33 Private, 1st Class

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    hi andrew
    i watched over a time your advice and it looks good to me, just one problem. its your time zone. i have london time zone and we are almost 12h out. so when my trading day starts your suggestions are 12h off and often i see market has changed in that time. as today usdcad already got a nice move and i would be very late to enter. is it asked too much to make updates for european traders? now i have 8h52 a.m.
     
  9. Alonedevils

    Alonedevils Master Sergeant

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    Sorry,
    i use Andrew Prediction for compare my trading analysis, not only Juast Using Andrew Sugestions.
    :)
     
  10. Alonedevils

    Alonedevils Master Sergeant

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    My Pleasure Sir..
    actually i always focus on AUD/USD pairs
    :)
     

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