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Forex Trading Signal 9-21-2009

Discussion in 'Current Forex Trading Signals' started by Sir Pipsalot, Sep 21, 2009.

  1. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

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    Hey folks,

    No real news to speak of coming out on Monday, but we'll have a few news items to preview on tomorrow's signal for Tuesday. As far as the trends go, the EUR/USD seems uncertain to me. I'm keeping current trades in as planned, but I'm shifting back from short term bullish to short term neutral. There seems to be a notable pullback on Gold, and Silver possibly functioning as a leading indicator of USD strength, and if you guys remember, this 1.4700 area was the level I've eyeing for quite some time to be the potential top of this EUR/USD rally. Short term, I think we could get action in either direction here on Monday and Tuesday, but long term the big opportunity is short. I'm not quite ready to pull the trigger and shove in a huge trade short just yet because we may have a final push to new highs here in the next day or two.

    As far as the GBP is concerned, let me remind you guys of the new stance from Wednesday's http://www.forexpeacearmy.com/forex...ve/5792-forex-trading-signal-9-16-2009-a.html:

    So far the long on EUR/GBP has been good for about 140 pips, and it's halfway to it's ultimate 0.9200 target. If you had gotten short on the GBP/USD (I did not) it's up 260 pips. My plan was to wait until we're ready to short EUR/USD to also short GBP/USD, and if we do get an ending rally on EUR/USD, that may float up GBP/USD enough to short it from a higher level than the current 1.6200. However, the reason I'm short term neutral on USD in general is that we may have topped out already and it's all downhill from here. With some key confirmations, I won't mind chasing it on the way down a bit.

    On Silver and Gold, as I said we've had some notable pullbacks, and at this point, there's some key question marks. Is this a decent retracement before the final push higher, or is it the start of the downward reversal we've been waiting for? We'll have to wait at least another day to know for sure, but I'm holding the 2nd half of my long from $976 with a break even stop and a $1035 take profit.

    On stocks, as with the other markets, we may have topped out, but it's a bit more likely there that we have another rally leg yet to go. Often times stocks will peak out a bit later than the correllating currencies, so I'm not in a rush to get back short on stocks unless we break down through 1035 on the S&P.

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    To our success,
    Sir Pipsalot
     
    #1 Sir Pipsalot, Sep 21, 2009
    Last edited: Sep 21, 2009
  2. manujain_1574

    manujain_1574 Recruit

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    Sir,

    I am still waiting for your reply...

    Regards,
    Abhishek
     
  3. HJB

    HJB Recruit

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    Recruit first post

    Hello Sir Pips A Lot,

    This is my first post on FPA as a newbie, but I see how already I could have benefited from your signals after looking back on 9-16-09 regarding the GBP. Although I may have missed this opportunity it does give me insight as to the potential value the signals you provide.

    I have already benefited greatly from FPA by the reviews and information provided. I look forward to future participation and interaction.

    Respectfully,

    HJB
     
  4. Sir Pipsalot

    Sir Pipsalot Former FPA Special Consultant

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    When we call trades in our trading room, they're done at prescheduled trading sessions shown on our calendar put out on a weekly basis. We have a chat room where the calls are given out verbally and members are free to text chat with us. We have trades of various timeframes, many are scalps... but we also do medium term and long term trades as well. The profit per trade varies widely based on the timeframe of the trade involved, but every night we run a scalping session that currently works with about 20 pip SL's and 10-50 pip TP's where usually all the trades are either closed or fully set in stone at the end of the 2 hour session.
     

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