RCS SS Signals

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Euro Short

Stop moved to BE, and eventually stopped out for about 4 pips

Re-entered short when price continued its down move and stop brought to BE within few minutes. Trade closed for about 20 pips

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RCS SS Signals Around 830 AM PST

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Aussie Short

Stop already moved to breakeven

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Cable Short

Gave the market about 30 minutes to settle down and waited for a pullback before taking this short. Trade now in safe zone.

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Cable Trade - Stop to BE

Stop moved to break even for free trade, and I'm done for the day.

I use the H1/H4 TFs as my bellwether and strategy is to look for setups on the M15 TF and enter on the M1 TF, which therefore allows for very tight stop. Sometimes I get stopped out quick at BE but overall, I have made more pips and reduced losing trades to less than 10% which is my goal and money management style. I believe that if we protect capital, we will be here to trade another day. If I get stopped out and the setup is still intact, I re-enter the trade.

I don't need to trade every day as a 25 pips daily average on a full size account should pay the bill. Remember, slow and steady wins the race - we are not competing against anybody but ourselves. Think about it. The day I realized I did not need to trade daily was the day I started making consistent pips in the market. I wait for my specific setup and trade it. If it is not there, I stand down as I know it may not be there every day but when it is, a 50 - 150 pips is possible, and therefore need only 7 - 10 days of a good setup to make my monthly target. So why the stress or getting emotionally charged with every trade!!!

I hope this helps one trader out there.

Shalom, and God bless

George

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Cable Short

I am looking for a possible re-test of 5000, and at worst the opening price level @ the yellow line.

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RCS SS Signal

Euro also gave a buy signal but has since pulled back, and I closed my long for about 10 pips as it was a CT trade.

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Euro Long

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Euro Short Trade

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Cable Scout Trade

Quick scout trade before ADP report, and hoping this can continue down, and if not trade is already secured .

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Cable Trade

Another quick trade on the ISM Non Manufacturing PMI news release with very tight stop.


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Aussie Trade

Quick Aussie rate announcement trade :-) Trade closed @ 1.02363

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RCS Signals in the Early London Session

Current best signals in the early London session

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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.

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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

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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

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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

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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

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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.

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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

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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

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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


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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

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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.

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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

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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

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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

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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.

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RCS SS Signal At London Open

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Thoughts & Prayers

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

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RCS SS Signal Alerts As At 3.30 am PST

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

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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.

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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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