Currency Strength and Weakness for Wednesday 28th August 2013

Andrew Mitchem

Special Consultant to the FPA
Messages
3,139
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 JPY, CHF, CAD and EUR.

Overall there is weakness AUD, NZD, GBP and USD.


Trading Directions I am favouring for the next 24 hours


Buy Trades - EUR/USD, EUR/GBP, EUR/AUD

Sell Trades - GBP/JPY, GBP/CHF, AUD/JPY, AUD/CAD, AUD/CHF, NZD/JPY, USD/JPY, USD/CAD, USD/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 one of these webinars and you are 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.


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:
Who are the 1500 people who view this page? Maybe I need glasses but seems most of the guidance is random at best. In fact most of what I've seen lately are "a**" backwards. How does this help? Better question is what am I doing here? Who are the other drones looking?

I've got to say that comments like this either make me laugh or cry and right now I can't decide which I'm going to do?

Why would someone waste their time and their life commenting on a post they clearly don't like. Surely there are better things to do with your day?

Anyway, the reason why 1500+ people view my analysis daily on this site might just have something to do with the fact that they find it useful and it is helping make them money in their trading.

Here's a screenshot from one of my accounts (risking 1/8 of 1% per trade or 0.125%) from yesterday 2013-08-29_0810 - TheForexTradingCoach's library
Notice how I said in my post that I was looking for NZD and GBP weakness and CAD strength - see how that relates to the trades I selected here. Both of these trades were taken in front of people live while on 2 different skype conversations.

Another comment I received in a private message from someone on this site a few days ago springs to mind. It went something like this: "You can handout free hot dogs all day long and still someone will complain you didn't give them enough sauce"

Now that makes me laugh!


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

Learn how I do it>>

 
Last edited by a moderator:
Not one of these pairs mentioned closed any higher or lower in the direction of the proclaimed "where I see the market heading" daily spruiking!

In fact, by pip count from open to close, you would be ahead roughly 735 pips using opposite signals.

In fact, the EURUSD was a complete failure, but hey, that's trading. Why he didn't chose his usual continue in same direction as last candle? I don't know, today's direction will be interesting for sure.
 

Attachments

  • 30-08-2013 07-52-55.png
    30-08-2013 07-52-55.png
    56.1 KB · Views: 9
Back
Top