RCS Signals in the Early London Session

Current best signals in the early London session

DISCLAIMER
Please read the disclaimer on the home page

GBPCAD Long Trade for 53P in 17 Minutes

I usually don't trade the news but seeing the CAD weak against most of the other currencies, especially the balls at the top of the meter, I was constrained to consider trading it against the strongest currency, GBP. And the result was 53 pips in 17 minutes with a 13 pip risk and trailed by 20 pips. Not bad for a day's job since I slept through the London session.

DISCLAIMER
Please read the disclaimer on the home page

Aussie Long & Short Trades

One major lesson I have learnt from using the currency strength meter to manage my trades is that when a trade is entered on the basis of its reading/signal and there is no momentum to the trade, close it within 15 - 30 minutes unless there is room to bring the trade to break even. Why?!! Because we have lost the edge that brought us into the trade in the first place. And this was why I closed the Aussie long almost at break even, and I was right as CPI report was below expectation and traders reacted negatively but I was long gone before then.

I'm off for a snooze and will be back for the London session.

Good trading to all

Shalom, and God bless

DISCLAIMER
Please read the disclaimer on the home page

Relative Currency Strength Signal - US Session

Few hours into the US session, this is the status of the currency strength as Euro is temporarily dethroned

DISCLAIMER
Please read the disclaimer on the home page

Relative Currency Strength Signal

It is about 2 hours to London open and Euro continues to assert itself as the dominant currency!!! Will this continue through the London and U.S. sessions? We'll wait for the market decide. Going for a snooze and will try to be back for the London session, otherwise few minutes before the U.S. open.

Good trading to all

Shalom, and God bless

George

DISCLAIMER
Please read the disclaimer on the home page

Trade Plan for January 10, 2013

Time is 10.49 pm PST and this is my trading plan for tomorrow, and will set price alerts as appropriate. I review the plan every one hour or 4 hours for better price placement on further retracement of my focus pairs.

Good trading to all

Shalom

DISCLAIMER
Please read the disclaimer on the home page

NZDUSD Short Update

Closed trade for about 10 pips when I noticed problem @ 8350 where the bullish trendline and half number met on the M15 TF and similar occurrence also on the H1 TF with the 72MA right under the half number; and no surprise when price bounced off this level. It was a CT trade and was promptly laid to rest before it could do any damage.

DISCLAIMER
Please read the disclaimer on the home page

NZDUSD Short

I'm short this guy and going back to bed - let the market decide. Price just moved as I was typing and moving stop to BE + 1 for a free trade.

Shalom

DISCLAIMER
Please read the disclaimer on the home page

CHFJPY Short

The beauty of trading is that you don't need to trade every day. Identify the structure and patterns to trading, watch the setups and play the breakout of support and resistance levels. There are 22 working/trading days in the month and you only need 5 - 10 setups to make your pay for the month. So it don't matter whether you miss one or two trades, just keep your focus and stop chasing trades - let the trades come to you. Be prepared and trade with excellence; and when you make your target don't be greedy, take a break and spend time with your loved ones and create time for your Maker and fellowship with Him too.

Shalom and good trading to all

DISCLAIMER
Please read the disclaimer on the home page

Cable Short

Couldn't resist this short in the Cable with stop now moved to BE + 3 pips.

Trade now closed @ 6207 for 20 pips with bounce off 6200 RN and H1 72MA. Will wait for retest of the M15 200MA for re-entry during the London session.

Good trading to all

Shalom


George


DISCLAIMER
Please read the disclaimer on the home page

Euro CT Short

Good start to the New Year

This 2nd chart was the Euro short I couldn't resist as the trading day and year 2012 was winding down

Happy New Year to all, and wishing you a very prosperous trading year by the grace of God.

I closed 2012 on a good note and have started 2013 on a sound note too.

Shalom

DISCLAIMER
Please read the disclaimer on the home page

Closing Trades for the Week

My closing trades for the week and probably the year but if I see another opportunity(s) on Monday, the sniper in me may still act, otherwise happy New Year in advance to all and see you in 2013 by the special grace of God.

DISCLAIMER
Please read the disclaimer on the home page

The Week Has Started - RCS Alerts @ Lndn Open

The JPY pairs broke out to the down side with EJ & CHJ being the best while others only moved because of the JPY strength except the GJ which is also weak. This is can be further confirmed by looking at the EU, UCH & GU where we also have signals to sell the EU & buy the UCH. These signals are not as strong as the JPY signals but equally good because they are in line with the EUR & CHF weakness and downtrend.

We have no signal to sell the GU because the GBP is not as weak as the EUR & CHF but also in a downtrend. The advantage of the RCS Spreadsheet Signal Alerts is that it narrows down the focus pairs to trade without any human emotions. All a trader does is to confirm whether it is trending, consolidating or trading sideways and take your decision.

Happy trading for the week.

Shalom, and God bless

DISCLAIMER
Please read the disclaimer on the home page

GBPUSD Trade

Potential trade I shared with my friends this morning, about an hour to London close on Forex Factory. Trade is about 50 pips in profit. The EURCAD trade I also posted has moved about 50 pips too.

Good trading to all.

Cheers, and God bless

George

DISCLAIMER
Please read the disclaimer on the home page

Potential Trade Setup

A potential trade is setting up @ this supply zone - several confluences to confirm a possible great trade - double top @ swap level; pinbar and divergence.

Do your home work and good trading

DISCLAIMER
Please read the disclaimer on the home page

RCS Spreadsheet Signal As At 2 am PST

The spreadsheet as usual helps narrow down the pairs to focus on, while highlighting possible trades that may be brewing in another one or two pairs.

DISCLAIMER
Please read the disclaimer on the home page

RCS SS Signal At London Open

DISCLAIMER
Please read the disclaimer on the home page

Thoughts & Prayers

Our thoughts and prayers with traders in the path of Sandy for divine protection and God's keeping power.

DISCLAIMER
Please read the disclaimer on the home page

RCS SS Signal Alerts As At 3.30 am PST

Alerts generated 40 - 60 pips between the EU & EJ short within 45 minutes

DISCLAIMER
Please read the disclaimer on the home page

Potential Trade for the Next Session

Will be looking at the RCS SS Signal(s) to confirm either to go long on break of 1.0365 or short on break of 1.0331 and use the opposite order as stop. Possible targets are marked and will go to higher TFs for possible buy profit targets.

DISCLAIMER
Please read the disclaimer on the home page

Possible Trades from Today`s Alerts

The RCS SS Signal alerts and charts speak for themselves

DISCLAIMER
Please read the disclaimer on the home page

RCS SS Signal As At 12.30 am PST

30 minutes after London open

DISCLAIMER
Please read the disclaimer on the home page

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.

DISCLAIMER
Please read the disclaimer on the home page

The North American Session is Picking Up Steam

EUR is strengthening and CHF is following seriously on its heels

DISCLAIMER
Please read the disclaimer on the home page

CAD Weakens

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

DISCLAIMER
Please read the disclaimer on the home page

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.

DISCLAIMER
Please read the disclaimer on the home page

Reason for JPY Weakness

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

DISCLAIMER
Please read the disclaimer on the home page

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

DISCLAIMER
Please read the disclaimer on the home page

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

DISCLAIMER
Please read the disclaimer on the home page

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.

DISCLAIMER
Please read the disclaimer on the home page

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.

DISCLAIMER
Please read the disclaimer on the home page

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.

DISCLAIMER
Please read the disclaimer on the home page

EURJPY Short

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

DISCLAIMER
Please read the disclaimer on the home page

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

DISCLAIMER
Please read the disclaimer on the home page

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.

DISCLAIMER
Please read the disclaimer on the home page