Signals for 08/09/2009

Recap of yesterday's sessions:

We had a signal generated yesterday in GBP/USD which turned out to be a loss of -61. The 4hours chart was showing some bullish signs though we had what seems to be a double top at a certain point on the 4hours chart.

I would presume that the close of the US session had a big effect on the European and UK session which was quiet throughout the day. This may have been the main reason why price didn’t head up thought the theory of the double top was taken out later during the day.

We have some important new in the UK today. We do not have enough data at the time being to see which direction price is most likely to head, so we will let market provide us with more data at this point and decide on our next move.

GBP|USD

R3- 1.6531
R2- 1.6487
R1- 1.6412
PP- 1.6368
S1- 1.6293
S2- 1.6249
S3- 1.6175

GBP|JPY

R3- 154.60
R2- 153.91
R1- 152.94
PP- 152.26
S1- 151.29
S2- 150.60
S3- 149.63

AUD|USD

R3- 0.8649
R2- 0.8612
R1- 0.8583
PP- 0.8546
S1- 0.8516
S2- 0.8479
S3- 0.8449

PS: The rule will be to bring stop loss to break-even as soon as price reaches half way to final target. Example:

GBP/USD – BUY – 1.6400 | SL – 1.6300 | TP 1.6500

As soon as price reaches 1.6450, bring SL to breakeven and let price run to final target.

Today’s Signal:

GBP|JPY – SELL – 151.30 | SL – 152.00 | TP 150.55
GBP|USD – SELL – 1.6317 | SL – 1.6365 | TP 1.6261
USD|JPY – SELL – 92.68 | SL – 92.94 | TP 92.37

More signals will be sent throughout the day, I will keep everyone posted. And also, I’ve had a lot of subscribers interested to trade the US session too, though I do not trade that market so much myself, I will try my best to send signals for the first 3 hours of the US session at best (all the US signals will be send via twitter, you will need to refresh your browser every now and then. Signals will be sent around 10 to 15 mins before the trade hits).

If you do not receive any signals during the US session means that I’ve fallen asleep in-front of my PC :)

PSS: There may be changes in the trade posted throughout the day, if trade does not look favorable, I will advice all of you ASAP through twitter.

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www.twitter.com/ashforextrading

Happy trading Ash Naeck

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