Week of August 13th, 2007
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August Daily Video Trade Results MTD: 10/15 (67%) +292 Pips
The managed accounts took a realized profit of another 2% this
week bringing the total realized profit on closed positions to
over 6% while the core position slid down to -27% mostly on the
USD/JPY fall. In this hedged strategy, we simply wait until the
core position comes back to positive territory before re-allocating
the fund. In the meantime, we will continue to take small intra
day profits.
Here is a recap of the Daily Video Commentary which you can
get for free each day on FX Nation Live:
This week was challenging as the markets reversed course and
the EUR/USD and GBP/USD headed sharply lower along with the
USD/JPY. We went 2 for 5 for +49 pips. This goes to show
you the importance of solid money management. We were only
correct on 40% of the trades but managed to come away with a
profit for the week:
8/14/2007 EUR/USD Long 1.3562 - (20) pip loss
8/14/2007 USD/CHF Short 1.209 - (20) pip loss
8/15/2007 EUR/USD Long 1.3458 1.35 42 pip gain
8/15/2007 USD/CHF Short 1.2171 - (20) pip loss
8/16/2007 EUR/USD Short 1.3447 1.338 67 pip gain
TOTAL PROFIT +49 Pips
*On trades with multiple profit targets, we are moving our stop
to the entry price once the first profit target is hit.
All of these trade set ups were available to FX Nation Live
members well in advance of the market moves via video and our
community blog. It's not surprising FX Nation Live is the #1
Forex website out there, not only do we provide profitable trade
set ups, but it's all FREE!!! Tune in for the next free video
at:
http://www.fxnationlive.com/members/blog/
I look forward to chatting with you next week. -DC Bonta
Economic Calendar
Weekly Trade Idea
This Week
The markets changed directions this week as the EUR/USD fell
through support for 4 consecutive negative days before finding
some support at a low of 1.3361 and bouncing up to 1.3547.
Major resistance should be in the 1.3625 (.382 fib on the daily
chart) to 1.3650 (main monthly pivot) if you are looking for
additional short positions.
Last Week
The EUR/USD came right to our price zone at 1.3625-50 with a
low of 1.3642 before bouncing higher to a high of 1.3705. That
was a 63 pip gain. I still think price is going to have a tough
time breaking through the 1.3625-50 area because we have several
support levels in that zone. There is a .382 fib on the daily
chart at 1.3627 and S2 on the 60M chart is at 1.3628. There
is the main pivot on the daily chart at 1.3654 and a S1 pivot
on the 60m chart at 1.3645. That is a lot of resistance to
get through on a pair that is in a longer term uptrend. P/T's
will be 1.3671 (MP on 60M), 1.3688 (R1 on 60M) and 1.3715
(.382 fib and R2 on the 60M)
If you would like more information on our trading please visit:
http://www.fxnationlive.com
Strategy of the week
Disclaimer: The information and opinions in this report are
for general information use only and are not intended as an
offer or solicitation with respect to the purchase or sale
of any currency. All opinions and information contained in
this report are subject to change without notice. This report
has been prepared without regard to the specific investment
objectives, financial situation and needs of any particular
recipient. While the information contained herein was obtained
from sources believed to be reliable, author does not guarantee
its accuracy or completeness, nor does author assume any
liability for any direct, indirect or consequential loss that
may result from the reliance by any person upon any such
information or opinions.
1StockTradingandInvesting
www.1stocktradingandinvestingsecrets.com
New York
NY 10005
United States
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