Forex Signals for 10/02/2010

Recap

Hello everyone,

Important news is coming out in UK and US session. This will be decisive for the pound in particular.

I will be putting some medium term trade where the risk to reward will be between 1:1 to 1:4. The more risky trade will be a 1 to 1 risk to reward ratio and the high probability trades will be up to 1:4 risk: reward.

These trades are meant to go overnight. If ever they are any changes I will keep everyone updated. Will be sending signals via email soon once all the emails list are uploaded.

I will send my reversals later today (the right one this timeJ). Stay tuned.

Today’s Signal:

AUD|USD – Buy – 0 | SL 0 | TP 0

Sell Only– 0.8768 | SL –0.8818 | TP – 0.8618

AUD|JPY – Sell Only – 0 | SL – 0 | TP – 0

Buy – 0 | SL – 0 | TP – 0

USD|JPY – Buy – 0 | SL – 0 | TP – 0

Sell – 0 | SL – 0 | TP – 0

USD|CAD – Buy Only– 1.06810 | SL 1.0629 | TP 1.0837

This trade may be a little bit risky. At the moment a bullish pin bar is present on all the commodity currencies and gold. Even if we are still US bullish at the moment, we may experience a retracement in price before trend starts to head back down again. Risk only 0.5% of you account on this trade.

NOTE: For those who are thrill seekers, you may decide not to bring SL to BE once half target is reached and let profit run until final target is reached. On the other hand for those more cautious, do not be afraid to bring your SL to BE when you reach half way to target and take partial profit half way.

IMPORTANT: I will be sending two possible scenarios from tomorrow. Buy and sell orders on most of the majors and the Yen pairs. If for example buy order is triggered, cancel sell order and vice versa.

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

TRADE MANAGEMENT:

Bring Stop Loss to break-even as soon as you reach half way to profit target and take partial profit at this point.

Happy trading

Ash Naeck