Currency Strength and Weakness for Wednesday 27th March 2013

Andrew Mitchem

Special Consultant to the FPA
Messages
2,281
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.

Make sure you get you own FREE copy of my Lot Size Calculator MT4 trading tool - click on my signature at the bottom of this post to get your copy.


Overall there is strength in the CAD and NZD.

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


Trading Directions I am favoring for the next 24 hours

Buy Trades – NZD/USD, NZD/JPY, CAD/JPY, CAD/CHF

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


To Your Trading Success.
Andrew


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

Learn how I do it>>

 
Last edited by a moderator:

healer22

Private
Messages
11
Thanks really appreciate the favor. However, pls I mean not to be sarcastic but does following this suggestions really help to make profits because some days(in fact many times) you are literally wrong on all yr suggestions.
 

Andrew Mitchem

Special Consultant to the FPA
Messages
2,281
Thanks really appreciate the favor. However, pls I mean not to be sarcastic but does following this suggestions really help to make profits because some days(in fact many times) you are literally wrong on all yr suggestions.

Hi healer22,

Please go and read through my replies given on some of the previous days to see the best way to use my daily analysis as it seems you have not yet done so. If the direction is incorrect overall on the day, then generally there are few good setups, so no harm done in terms of your account balance.

I can only say what I see at the time (which you will notice is in advance of the market moves for the day). Unlike many others, my suggestions are based on what is "likely" to happen rather than what "did" happen with the benefit of hindsight - they are two very different things!


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

Learn how I do it>>

 
Last edited by a moderator:

huandamian

Recruit
Messages
4
Hi Andrew and FPA mates, I felt compelled to make this post after reading healer22. Just want to that I have made an average of 40-50pips based on Andrew's trading directions over the last three days. These are only made possible by careful entry based on risk/reward considerations. Not all trades profitted but, at end of day, still nett profit. Also they tend to work better before London and US opens.

Just my two cents, and wanted to balance the views. Andrew, thanks for all the sharing your knowledge so far, it has definitely helped.
 

aicohn

Corporal
Messages
107
Not sure I'm doing this right, or using your ideas correctly.

You predicted strength in CAD, weakness in USD.

So, I'd be taking a long CAD here (futures, not forex) risking 5 ticks (below bottom of trend channel) with potential reward of 30+ ticks to top of the channel.

Is that reasonable???

http://img27.imageshack.us/img27/7427/6c061360min3272013.jpg

and then after I got in (better picture):

http://img248.imageshack.us/img248/7427/6c061360min3272013.jpg

I mean, this is >6:1 risk:reward, betting on a trend continuation (to top of the channel). And trailing the stop up with bottom of the channel, would be risk-free in a few hours, assuming you survive that long!
 
Last edited:

Andrew Mitchem

Special Consultant to the FPA
Messages
2,281
Hi Andrew and FPA mates, I felt compelled to make this post after reading healer22. Just want to that I have made an average of 40-50pips based on Andrew's trading directions over the last three days. These are only made possible by careful entry based on risk/reward considerations. Not all trades profitted but, at end of day, still nett profit. Also they tend to work better before London and US opens.

Just my two cents, and wanted to balance the views. Andrew, thanks for all the sharing your knowledge so far, it has definitely helped.

Hi Huandamian,
Thank you for letting everyone know about your results - great to hear you are enjoying my service.

Andrew


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

Learn how I do it>>

 
Last edited by a moderator:

Andrew Mitchem

Special Consultant to the FPA
Messages
2,281
Not sure I'm doing this right, or using your ideas correctly.

You predicted strength in CAD, weakness in USD.

So, I'd be taking a long CAD here (futures, not forex) risking 5 ticks (below bottom of trend channel) with potential reward of 30+ ticks to top of the channel.

Is that reasonable???

http://img27.imageshack.us/img27/7427/6c061360min3272013.jpg

and then after I got in (better picture):

http://img248.imageshack.us/img248/7427/6c061360min3272013.jpg

I mean, this is >6:1 risk:reward, betting on a trend continuation (to top of the channel). And trailing the stop up with bottom of the channel, would be risk-free in a few hours, assuming you survive that long!

Hi Aicohn,

Yesterday I was looking at CAD strength and USD weakness yesterday. The USD/CAD pair had a few good sell opportunities that I saw. The CAD showed a lot of strength against many other currencies that I mentioned, with big moves in the CAD/CHF, CAD/JPY, EUR/CAD, GBP/CAD, AUD/CAD.

Please remember I am a Forex trader not a futures trader.
Hope this helps.


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

Learn how I do it>>

 
Last edited by a moderator:

dgolly

Recruit
Messages
4
Hi Andrew and FPA mates, I felt compelled to make this post after reading healer22. Just want to that I have made an average of 40-50pips based on Andrew's trading directions over the last three days. These are only made possible by careful entry based on risk/reward considerations. Not all trades profitted but, at end of day, still nett profit. Also they tend to work better before London and US opens.

Just my two cents, and wanted to balance the views. Andrew, thanks for all the sharing your knowledge so far, it has definitely helped.

You made 40-50 pips on days where there were no signals? That's pretty impressive. Wait till there are signals. You'll dominate.
 
Top