Today’s signals include:
LONG – AUD/USD with a 72 pip stop loss and take profit.
LONG – EUR/USD with a 76 pip stop loss and take profit.
LONG – GBP/USD with a 100 pip stop loss and take profit.
LONG – NZD/USD with a 67 pip stop loss and take profit.
SHORT – USD/CAD with a 89 pip stop loss and take profit.
SHORT – USD/CHF with a 62 pip stop loss and take profit.
SHORT – USD/JPY with a 71 pip stop loss and take profit.
This specific signal setup comes with many different trades based on sentiment data found from fxssi.com and oanda.com. We are looking to trade in the opposite direction of the global retail trading bias each day before the London open.
The plan is to hold these trades for 9 – 12 hours when we will close them between 10:00 am and 12:00 pm Eastern time. This will give our trades to experience solid volatility as they will run through the entire London session and the peak hours of the New York session. This we will be our plan “A” in regards to risk management. Plan “B” will be to close our trades at their take profit or stop loss which will be set to the average daily range for each pair.
The average daily range for each pair that we will trade is as follows according to over a 50 week period:
Again, this will be plan “B” for each trade setup. So if any one of these trades does really well and it hits its take profit then we are done before the market gets to the window of time where we plan to close our trades. If we lose a significant amount of money sufficient to hit our stop loss then that will be our exit instead of the time slot mentioned above.
Due to the large quantity of trades we are taking it’s very difficult to detail every single stop loss, take profit and entry for each trade. To successfully take these trades each day you will have two options. 1. Take each individual trade listed in the thumbnail and copy down every stop loss, take profit and entry. This would be very time consuming but it is an option. 2. You can take each trade in the direction of the signal and use the average daily range that I calculated above as your take profit and stop loss in regards to pips. This is the easier way to take each trade. It may not be exactly how I took the trade pip for pip but it will be really close and less time consuming.
Please let me know if you have more questions.
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