Well, another great day of trading. Our resistance level of 1.8900 held beautifully at around 3:30 am EST. In fact, the high on Cable on our trading platform was 1.8906 up until the news releases began.
We took our short at 1.8900 and covered one of our trades at 1.8860 for 40 pips and the second at 1.8845 for 55 pips.
At 7:00 am EST, half an hour before the news releases were to begin, we got out of our trade and did nothing else till 11:00 am EST.
Actually, we didn't do anything else for the rest of the day, but our more aggressive traders found some very nice long trades later on in the morning.
Since that trading style is not our specialty, I don't want to get into it into much more detail. But, for your knowledge, they used a combination of trend lines and Fibonacci lines.
They are great examples of what you can do if you know how to use all of the tools available to you. In the "Trading In Black And White Forex Trading Course" you will learn how to develop your own unique trading style.
Many of you will be able to outperform our trading, just like those traders did today.
We can not stress enough how important it is to get a quality Forex trading education. This is the only way that you will be able to reach your Forex trading goals.
Surely you have all seen our amazing trading results this week. We haven't flipped flopped on any of our opinions or trading levels at all.
We haven't hid any losing trades from you, we just haven't had any this week. We had some last week, and we let you know about them. The week before, also, was a perfect trading week.
We just wanted to make sure that you realize that we do share our results with you as much as possible. We are trying our hardest to get you to understand that the potential in the Forex markets.
If we haven't convinced you yet, with these amazing results over the last 3 weeks, than there is nothing more we can do.
With last nights 95 pips, this week netted us 455 pips. We generally don't put in trades on Friday...well at least I don't, so I can't give you any thing for tomorrow.
So, now this puts our month at almost 1200 pips...AND THERE IS STILL A WEEK LEFT!
Let's turn this into an example based on dollars. If you had a $10k account, and only traded 1 lot, you would have earned $12k...or 120% of your account. Remember, this is only trading 1 lot.
Also, we only discuss Cable in our newsletters. That's just one of the 4 major currency pairs, and there are at least 2 others that are tradable.
Do you see how much potential there is in the Forex markets? How much more there is to make than we show you?
We find these support and resistance levels using a set of technical indicators and other variables that we have found to be most successful for us. We use several other indicators and a variety of technical analysis techniques to enter and exit all of our trades. Every trader will have a different combination of indicators that makes the most sense to them. Learn how to develop your own successful Forex Trading style with our Elite Forex Trading Course or Forex Seminar.
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