Forex Signals for 16/02/2010

Recap

Hello everyone,

We had quite a slow market yesterday due to the US bank holiday. None of our orders were triggered at this point but seems like market will pick up where it left yesterday.

Had a post on forexfactory for a buy on the GBP/USD yesterday where my first order got triggered for a profit of 72 pips, risking only 0.75% of my account. Here is the post if you want to follow my entries will be getting more active on TWITTER too on the intraday trades from today please stay tuned.

http://www.forexfactory.com/showthread.php?t=10378&page=13305, member name: AshForex

Will be looking for some intraday trades today too on the GBP/USD. We however have some important news and reports coming out of the UK today so please be careful and trade wisely.

We have some changes in the trade parameters of yesterday and some new trades too. Please make changes needed accordingly.

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

Today’s Signal:

EUR|USD – Buy Only – 1.35595 | SL- 1.34990 | TP- 1.36427 (For the thrill-seekers, once you are near 1.36427, bring your stop loss to break-even and change your take profit to 1.36989 as market may have enough steam to reach that target or take profit accordingly until we reach final target).

Sell Only– 0 | SL –0| TP – 0.

Important Note: Order still active, no change

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GBP|USD– Sell Only – 0 | SL – 0 | TP – 0

Buy Only –1.5617 | SL – 1.55560 | TP – 1.5741

Important Note: Order changed, new parameters shown above

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EUR|JPY – Buy Only – 121.71 | SL – 120.79 | TP – 123.57 (For the thrill-seekers, once you are near 123.57 bring your stop loss to break-even and change your take profit to 124.19 as market may have enough steam to reach that target Or take profit accordingly until we reach final target).

Sell – 0 | SL – 0 | TP – 0

Important Note: Order changed, new parameters shown above

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USD|CAD – Buy Only– 1.0472 | SL1 .0436 | TP-1.0553

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