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

Euro does it again...........

Hi Everybody,

Here is another great example, this time on the EURUSD 1 hr chart.

As you can see, there was a lovely DP sell that nailed the high, just before the recent decline. With a nice +5.7R Profit (ignoring spread) at the initial DP target (as the STF was weak), this was a nice trade and a great example of the MTPredictor automatic setups in action. ............

Thanks

Steve

Euro collapse part 2

OK, now we have established that the 4hr chart was at DP resistance, can you see that the `hr Chart was also at DP resistance as well. This was the cue for a short trade.

AS you can see, this got you short as the Euro started to decline. The GBPEUR then went straight though the initial minor DP target ans the short tarde is now being managed using the ATRStop.

With a current Profit of +7R (ignoring spread), this is turning out to be a good trade. So while all the Bankers run around like headless chickens not knowing what is happening, MTPredictor customers are quietly and confidently making money :)

Thanks, Steve

Euro collapse !

Hi Everybody,

As the problems for the Euro hit the news after the debt problems in Greece, the Euro has been declining sharply.... BUT, and here is the good news for all MTPredictor users, the high was right at DP resistance, so a short trade was available to take advantage of this sharp fall...........

Let’s take a closer look.................. First let’s start with the “larger degree trend” on the 4hr EURGBP Chart. As you can see, this high was at DP resistance. In fact this was the DP target area from our previous long trade.... so you all should have been fully aware of this level !

So now let’s move down to the 1hr chart........

Thanks, Steve

EURGBP – follow up

Hi Everybody,

Here is a quick follow up on a post form a few days ago on the EURGBP 4hr chart. As you will have seen, the EURGBP was staring to rally off a DP buy.

Well, this rally continued and the EURGBP has now reached the first profit target, where +6.6R Profit (ignoring spread) was available.

I hope this has been a good example of a trade that has unfolded while these posts have been updated..................

Thanks

Steve

GBPJPY continues lower.....

Hi Everybody.........

Well, as we start a new week, this trade is still going with us and is now on a Profit of approx +11R (ignoring spread).

What a brilliant trade and a great example of how well MTPredictor can nail great trades for you

Thanks, Steve

GBPJPY collapse

Hi Everybody............

Many of you will have seen the sharp move in Cross Rates against the JPY over the last day, so it was very nice to see that we got a lovely TS3 sell on the GBPJPY 4hr chart just before this collapse started.

The result is that this short trade is currently on a very Nice +8.8R Profit (at the time of writing)

Thanks

Steve

EURGBP – 4hr Chart

Hi Everybody,

Here is a nice DP buy that is currently unfolding on the EURGBP.

With stops already at break-even, this is now a free trade, so let’s see how it unfolds ?

Thanks, Steve

TS3 sell on the 1hr Chart

OK, now we know the 4hr larger degree trend was down, this TS3 sell on the 1hr chart was “in the direct of” the larger degree trend so was a good one to consider.

As you can see, the EURUSD has actually continued much lower, but this is OK because the STF strength band was exceeded so the trade is now being run with the ATRStop.

With +13R Profit at the moment (ignoring spread) this is turning out to be a great trade............

But the point is that too many amateurs “over trade”, so the advice from all professionals is trade less and only trade when the picture is clear.

Steve

Only trade when the Picture is clear

Hi Everybody,

I have been talking today on the Day Trading Blog about only trading when the picture is clear, and the same applies to FOREX. Sometimes the “larger degree” picture is unclear, this is when professional traders stand aside and wait for the picture to become clear. Too many armatures traders “overtrade” and what to trade all the time, and as such loses needlessly. Here is a good example on the EURSD,

Let’s start with the larger degree trend on the 4hr chart, as you can see, the trend was clearly down from the last minor DP high into the recent DP zone. OK, now we have declined below this level, but at the time we had a 1hr TS3 sell, the 4hr chart was still heading down to DP support. So “at that time” the larger degree trend was down.

Lets now take a look at the 1hr Chart

Steve

EURUSD – 1hr Manual DP sell

Hi Everybody,

Here is a great example of how you can use the “manual” DP levels on FOREX charts to uncover some great trades.

Here the manual DP nailed the recent high on the EURUSD 1hr chart perfectly. The market has fallen nicely to reach the “opposing DP” level. But the difference here is that as the lower DO level was reached, the STF was strong, so standard traders would have swapped to the ATRStop for trade management.

The markets is still declining as I write..................

Thanks, Steve

EURJPY – 1hr TS4 sell

Hi Everybody,

Here is a great example of a standard TS4 sell on the EURJPY 1hr Chart.

As you can see, the TS4 sell nailed the high perfectly, before a sharp fall unfolded. As the first profit target was reached, the STF was weak, so Standard Traders would have banked a nice +5.2R Profit (ignoring spread)

A great example of a standard and automatic MTPredictor Trade setup that was then managed using the standard trade management guidelines...

Thanks, Steve

Multiple time frames Part 2

OK, once we had support at the 1hr DP (last post) we could have also seen that the 15min Chart was at DP support. This was the long trade entry.

The markets then rallied in what looked like to be a Elliott Wave 1,2,3. I have “manually” added these labels.

The exit would have been as the market reached the Typical Wave 3 WPT, especially as the Wave [3] has “sub divided” into a minor 5 waves.

The results could have been a nice +7.8R Profit (ignoring spread).

I hope this has been a good example of how you can use some of the more advanced tools that are available in the software

Thanks, Steve

Multiple time frames

Hi Everybody,

I am asked a lot about the more Advanced Features of MTPredictor, so here is a brilliant recent example.

As usual, let’s start with the “larger degree trend”, here the 1hr EURUSD was finding support at the lower DP. Then, we can see how it then rallied to the higher DP nicely.

So how could, this have been traded ? Well, this is one of the times when you could have used the 15min chart for trade entry but only “after” you had established the “larger degree” 1hr position.

Thanks, Steve

USDJPY – 1hr Chart

Again, another good example of an ABC correction, this time on the USDJPY 1hr chart.

Here the USDJPY rallied nicely to the higher DP for a nice +5.4R Profit (ignoring spread).

Thanks, Steve

PS, Again, this is using our new Real-time data feed from MetaTrader4 into MTPredictor via our new RTDataServer.

EURGBP – DP sell

Hi Everybody,

As I start to look forward to skiing this year, I thought I would check the EURGBP rate to see how much those Beers on the slopes will cost this year

Once I got there I saw a lovely DP sell that has caught the current decline very nicely indeed. So let’s see whether we can reach the lower DP target.

PS, this is using our new Real-time data feed from MetaTrader4 into MTPredictor via our new RTDataServer.

Thanks

Steve

Elliott Wave Module

Hi Everybody,

Here is a great example of the other, more advanced, tools that are available in MTPredictor.

Here we had a Wave C low on the EURGBP 60min Chart, as found by the Elliott Wave module. Initial, target is the DP form the prior Wave B high. As you can see, the EURGBP rallied to this level, where a nice +4R Profit was available (ignoring spread)

Thanks, Steve

PS, notice the nice DP sell earlier on the chart as well :)