Currency Strength and Weakness for Wednesday 21st August 2013

[Andrew Mitchem]

Hi Traders,

My inbox is full again today with the talk of more profitable trades as a result of people using my analysis on this site.


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 EUR and CHF.

Overall there is weakness in the CAD, AUD and NZD.


Trading Directions I am favouring for the next 24 hours


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

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


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 help



FREE TRADING WEBINARS:
I've received some great feedback from FPA members who have attended my Forex traders webinar.
If you have not yet attended this webinar, you new to trading and would like some useful trading tips then this webinar is perfect for you. Learn some great trading tips from a Professional Forex trader.
Register now by clicking on my signature at the bottom of this post.


New 5 Star Review on FPA:
I have received a new review on this site - Click HERE to read the review


To Your Trading Success.
Andrew

---

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

 

[The_Snowman]

For those that can't afford $2,000 course, here is FREE currency strength meter will do the same thing, and you can think for yourself.

 

[Andrew Mitchem]

For those that can't afford $2,000 course, here is FREE currency strength meter will do the same thing, and you can think for yourself.

Hi Snowman

I'm not quite sure what the point of your post is. To me it seems like you've been scammed before by someone in Forex and now that seems to be my fault? I realise that this is a badly perceived industry but please don't associate everyone with the same image.

I give up my time and knowledge here on this site every day - always on time - to help people. As mentioned on my post today there are an enormous amount of people who appreciate this and who benefit from that information. If you don't like it, don't like me or disagree with what I write, the answer is simple - don't waste your time looking at what I write.

If you were to take a look at what my course offers, you will see that it contains a lot more than simply information on how to read the currency strengths.

Not only do I provide a proven strategy that works, I provide videos, software, trade calls, support and live trading room webinars for those who choose to join me. I have reviews on this site dating back to February 2010.

I agree, not everyone can afford $2,000 but for those who can and those who see it as an investment in themselves, I can assure you it is very good value for money.

---

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

 

[HalalPips]

Hello Guys and Andrew,


I agree that not everyone can afford a $2,000 course but let me tell you something from my personal experiences. I have wasted $15,000 in trading losses in trying to figure out the market myself. Then when I realized that, I had only wish I had invest some money in myself. I must say if you really are interested in becoming a successful trader, then first is to invest in yourself. Learn from those who have taken the road and succeeded. There is no need to reinvent the wheel. There are a lot of good programs out there and Andrew's is one of them. If you can't afford it yet, find something that is cheaper. The bottom line is educate ourselves first. It's an investment you won't regret.

Cheers
Abdul

 

[FaizalFPA]

I agree with Abdul, investment is forever. Don't look at an investment as a short term strategy.

 

[The_Snowman]

Maybe Andrew would be kind enough to point out just one trade that could have been taken on say the hourly charts today from his strengths and weaknesses.

Now that is a fair request seeing as we are touting about giving so much time and effort to be here for FREE anyway.

Maybe he will, maybe he won't even be kind enough to respond to your post.

Here is a method used by many Price Action gurus, enter on a retracement. Why they use it? It works, that's why, well sometimes it does.

Because after a down or up day during Europe & USA sessions, price will retrace during Asian session. If trend is strong, it will continue. After you read and check this chart, do this to the EUR-USD and see the result; please report back in this thread.

OK, using Metatrader 4, Daily chart, put a Fibonacci with levels of your choice on it, place a SELL Stop at your chosen level, and Stop Loss above that, maybe place a Take Profit if that is in your trading plan.

Don't forget to work out your position size according to your money management strategy to control your RISK.

I have put some extra price action comments on this CAD-JPY chart, but the technique above is on the 2 previous days only, the signal day and the traded day.

For extra chart reading skills, also FREE like Andrew, I recommend FX Street, check the analysis tab, there is excellent videos daily, today there is CAD-JPY by coincidence

 

[Wongaburra]

For those that can't afford $2,000 course, here is FREE currency strength meter will do the same thing, and you can think for yourself.

How do I download the CSM.ex4 file. When I download the same all I get is a HTML file which doesn't work.

regards wongaburra