Possible Trades from Today`s Alerts

The RCS SS Signal alerts and charts speak for themselves

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RCS SS Signal As At 12.30 am PST

30 minutes after London open

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RCS SS Signal Alerts Few Minutes Before London Open

Lots of high impact news coming in the next sessions. RCS SS Signal alerts were CT trades - took quick 10 pips in the Cable.

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The North American Session is Picking Up Steam

EUR is strengthening and CHF is following seriously on its heels

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CAD Weakens

CAD weakens further to nullify my trade idea at least for now

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Potential GBPCAD Trade Setup

One of the trades identified from the week end is setting up, and looking at my RCS SS Signal confirmation for entry. Price moved to retest the prior high and bounced off this resistance/supply level, coinciding with a regular bearish divergence. Need more CAD strength and GBP weakness to take this trade.

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Reason for JPY Weakness

This explains the reason for JPY weakness against other currencies in the group

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GBPJPY Buy Signal

About 20 minutes after the last signal, I got confirmation to buy the GBPJPY, and the question is, should I take the signal or not??!!

The signals generated by the RCS Spreadsheet (SS) are based on pure price action and not on any lagging indicator(s), and used as entry confirmation based on a trader`s own trend following/trading system. It helps to narrow down pairs to focus attention and where the momentum is. I am an intra day trader and would not take this signal for the following reasons:

1. The average daily trading range for this pair has been reached and exceeded as highlighted on the chart window;
2. There is resistance at 127.80 although resistance are meant to be broken but I am looking for high probability trades and will avoid a pair where resistance or support has not broken before the ADR is reached;
3. This action at resistance area  is coinciding with SMI at extreme OB on this time frame and it is already turning.

We will sometimes miss trades when price moves strongly during the Asian session and the alternative line of action is to look at other pair(s) and if not, we wait to trade another day. Not taking a trade is also a position. Patience and discipline is key to success in this business.

Price just broken the resistance and touched the RN at 128.00 but I am not looking at this pair, and would rather focus on pairs that have not reached their ADR.

Good trading folks

Cheers, and God bless

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RCS SS Signal As At 12.40 am PST

We are about 40 minutes into the London session and no major signals except to buy GBPJPY. GBP remains strong but the JPY is not as weak, as the pair moved over 80 pips from the Asian session and we are approaching a possible resistance area around 127.80. EURJPY is also showing some mild strength and will continue to watch the signal.

I am still watching the CAD pairs as most of them seem to be setting up for possible reversal but we never know and will always wait for RCS SS signal confirmation. The CADJPY has however moved 50 pips from my alert over the week end but this is due mainly to JPY weakness and not any strength in the CAD.

Good trading to all

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Interesting Confluence on all CAD Related Pairs

Interesting confluence on all the CAD related pairs - all are reacting at supply or demand levels with my SMI oscillator at extreme OB/OS. Will be watching these pairs next week.

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Possible Trade Setup

H4 triple top and will be watching for possible reversal and confirmation from the RCS SS Signal; but break above the triple top high with RCS confirmation will have me long too. I however favour more of the downside now and will let the market decide.

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RCS SS Signal After Canadian News Release

RCS SS Signal shows that buying the Loonie was the only safe trade. Other pairs are just in a roller coaster.

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EURJPY Short

I am short EURJPY from 103.375 and stop already moved to breakeven + 1 as price just hit DS1 at 103.192

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RCS SS Signals Around 2.20 am PST

Very tight movement and within 20 minutes of the screenshots, GBP is trying to gain the upper hand. With signals to buy GBPCAD & GBPCHF, I checked my charts and see both trying to breakout of demand zones. I like the GBPCHF better with the confluence of divergence on M30 & H1 where it seems to have found a bottom. The GBPAUD is very similar to the GBPCHF but no signal yet but it is setting up, and will need to break above 5513 before considering any trade.

10 minutes after I have new signals to buy NZDCAD & NCFCHF and sell CADJPY. Will check my charts for confirmation.

Good trading to all

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RCS Signals As At 7.55 am PST

A picture is said to be worth a thousand words - the RCS Spreadsheet Signal saves from wrong trades and helps to concentrate on the pairs that really matter. Can you imagine how the traders trying to short or long the Euro fared today? Frustrating will be a mild word, as you can not trade two strong or weak currencies and expect any major move.

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Trade Setups I Posted for My Friends

This was what I posted on Forex Factory this morning:


We have a lot of pairs trading at supply and demand levels including the Euro and Cable but I find the attached setups interesting:

1. CHFJPY - H4 pinbar & regular divergence @ supply zone
2. CADJPY - M30 regular divergence @ demand level, with a possible engulfing outside bar on the H4 TF hinting of a potential good run on this trade.

Good trading to all

Shalom, and God bless

George

CHFJPY was never triggered but CADJPY is up about 100 pips since my posting.

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Trade Setups Posted for My Friends

A picture is worth a thousand words!!! Textbook perfect setup on the EURCAD around London open. Swap/Pole plus divergence with engulfing candle equal pips - powerful setup but I missed it as I was no show yesterday.

Possible H4 Bullish Flag in the Euro that I highlighted for my friends yesterday

Another potential trade I highlighted for my friends yesterday


Aussie retested previous low @ 1.0195 and broke next demand level, and we now have regular bullish divergence on M15 to H1 hinting of the possibility of price bouncing from this level. If price however drops further, a possible support at the next demand level @ 1.0165 may be inevitable where we would likely have a double bottom.

I am therefore watching to buy break of 1.0234 (if the 1.0184 low is maintained) with stop few pips below this Asian low @ 1.0179. 1st PT is the pole @ 1.0329 and if price continues upward, then 1.0404 to 1.0473 are 2nd & 3rd possible PTs.

Just speculating, and you should do your homework and research too.

Another potential trade I highlighted for my friends yesterday

EURAUD is a runner and worthy of attention. This chart has some similarities to the Aussie chart posted earlier. Watch for confirmation of possible reversal with divergence at supply level. If you change to the H1 TF you will see that this pair has moved 350 pips without any correction and this is the 2nd divergence within the last 24 hours hinting of possible reversal.


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Possible Reversal Coming in the Euro

Closed both AU & EU trades for nice profits.

Euro is setting up for possible reversal with a pinbar at the bearish trendline on both H1 & H4. Watching for completion of pattern and follow through before considering possible short trade.

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Today's Trade

Kiwi trade from Friday closed for 34 pips

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Friday, Sept 28 Trade

Kiwi trade on failure at the supply level and targeting the next demand level

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Trading Result for Sept 21

Forgot to add my trade from last Friday, Sept 21 as I added supply and demand levels to my trading arsenal.

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My Trades for Today

Trading is not an easy business, but if we continue to try and never give up, we will eventually make it. As we fall we must rise again and pick the pieces and learn from our failures, and get to work again.

Thomas Paine once said, "the harder the conflict, the more glorious the triumph. What we obtain too cheap, we esteem too lightly; it is dearest only that gives everything its value. I love the man that can smile in trouble, that can gather strength from distress and grow brave by reflection. It's the business of little minds to shrink; but he whose heart is firm, and whose conscience approves his conduct, will pursue his principles unto death."

I am still working on finding a less stressful but effective and easier way to trading while consistently making 25 - 50 pips per day, and I think I finally found it. A trading system must be dynamic so we can change to the different market conditions and still be able to come out on top. Parallel and inverse currency analysis is the key - trading strong against weak currencies.

Good trading to all

George

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RCS SS Signal @ 8.30 pm PST

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