Euro collapse due to Greece’s debt problems, part 2

OK, now we know that the “larger degree” chart (4hr) was giving a sell signal, we can zoom down to the 1 hr chart. Here we see that a high was made right at DP resistance. This nailed the high before the Euro declined sharply.

With +5.2R Profit (ignoring spread) available at the lower DP, this was a perfect example of how the rest of the world was running around not know what was happening, in fact the debt crises was headline news. And all the time, MTPredictor had nailed a beautiful trade and was making money for its users. Brilliant !

Thanks, Steve

Euro collapse due to Greece’s debt problems

Hi Everybody,

There has been a lot in the news yesterday about the debt crises in Greece and as such that has affected the Euro. So let’s see what MTPredictor made of this..............

Let’s start with the 4hr chart, where we can see that we had an automatic TS2 sell.................. so the trick now is to move down to the 1hr chart for a better trade entry.

Thanks, Steve

Perfect Elliott Wave patterns

Hi Everybody,

In the Advanced Blog today I was looking at “perfect Elliott Wave patterns” and was showing that they still unfold on the US e-minis with great regularity. But what of FOREX, a market that is dominated by system trading ?

Well just look at the attached chart, where the recent low on the EURGBP 1 hr chart fell not only right at our DP support zone, but the last swing into the low was a perfect 5 waves, with the low right at the Typical Wave 5 WPT as well !

I still find it amazing when markets turn exactly at anticipated level like this, and in MTP you have the tools to then be able to take advantage of this....

Thanks, Steve

USDCHF – 1hr chart

Hi everybody,

A great DP trade has just completed on the USDCHF 1 hr chart. As you can see, the STF was strong as the first DP target was reached, so the ATRStop was used for trade management. The result was a very nice +5R Profit (ignoring spread)

Thanks, Steve

Longer time frames

Hi Everybody,

I have said this a number of times before, but it is worth re-stating. Forex works best on the longer time frames, for example 1hr and 4hr charts....

Here is a great example on a 4hr Chart of the USDCAD, where the recent TS4 sell has just reached the initial profit target. As the STF is strong, it is time to swap to the ATRStop....

Thanks, Steve

EURJPY +9.8R Trade

Hi Everybody.

I have been following the EURJPY for a few days now, and I was please to see how the recent TS3 short trade has just reached the first projected profit target, where +9.8R Profit (ignoring spread) was available.

Another great example of a standard and automatic MTPredictor trade in the Forex market :)

Thanks, Steve

EURJPY – lovely TS3 sell

Hi Everybody,

The EURUSD was not the only Euro cross rate with a great trade, please see this 1hr chart on the EURJPY. As you can see, not only did the DP nail the recent high a few days ago............... But we also had a lovely TS3 sell that would have had you short just before the recent sharp decline....

As the STF was strong, standard traders would have swapped to the ATRStop, which is currently locking in +7R Profit (ignoring spread)

Another great example of the MTPredictor tools and routines at work in the FOPREX markets.....

Thanks, Steve