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Blog Notes
12:16 PM
Ovia
Note that from now on I will no longer be providing specific trade by trade analysis of the hilda signals as this is done daily in our trading room as the day unfolds. I may also be working on a members area of the http://www.simpleforexsystems.com site to log the trades for system users to check.
The blog will be returning to its former use as daily thoughts and comments on the market with overviews on trades taken for each day.
The past week has been a brilliant trading week for me personally. Lots of trends in both direction as the market begins to make its mind up to whether to initiate a trend change or not.. Its been that elusive one week a month when ive been really in tune with the market. I'm sure that this happens to you also, you know what I mean? everything just drops into place and you cant go wrong.
I'm not saying I haven't had losing trades but they have been very few and far between. As I trade mainly using a one minute chart to pinpoint entries its very easy to see when you've got it wrong and exit very quickly. I cant remember the last time that I had a loss of more than 10 pips on a singe trade trading in this way (note that this statement does not include the trades off the grail system)
My results for the week are +218 pips for 28 trades, 21 of which were winners for 270 pips and 7 losers for -52 pips which gave me a personal win / loss ratio of 75% and an average of 8 pips per trade after spread.
In the room this week I concentrated on training a specific trading setup on a one minute chart. This subject will again be the main thrust this coming week as it's imperative that this one thing is embedded into our traders minds. Ill continue to hammer this home until the users recognise this happening automatically as it is core to taking safe entries from signals given on the higher timeframes.
If you are a member of the group reading this then you'll know what I'm referring to and for those who cant get to the room I will try really hard to deliver our 4th video this week which will concentrate on this setup.
The Week Ahead
Friday finished with the four hour and daily charts breaking their trendline which has been in place for a month now since 12th September and the good news is that the day closed above it.
The next step in this potential trend change is for the trendline to be tested. This should result in a drop sometime Monday or Tuesday to test the break level around the 7600 - 7620 area. Its possible price could go as low as 7570 before a bounce up - if it doesn't bounce from this area then we should see more downside however I don't think this will happen.
following the test we should see a rise with a potential sticking point around 1.7810 - 20 as cable struggles to break the highs of 6th October. Next potential sticking point is around the 7880 level and 7905 will be very difficult to break.
if we see 7950 this week then it should be a good setup to see price rise to 8330 next week.
as usual please note that these are not trading recommendations and you are responsible for your own trading decisions
That's it from me today - have a great weekend.
From The Desk Of ...
Soultrader
