5 Free Forex Trading Signals For June 26 – June 30 2017
HOW DID THESE CHARTS PLAY OUT?
780 PIPS POTENTIAL
AUDJPY – Our noted uptrend pattern held and as mentioned, price action will inform….and it did. 217 pip potential on the break to the upside keeping in line with the HH/HL pattern
AUDUSD – I spoke about another potential leg down and there was no solid setup due to the weakness in the topping action. However, price rallied but traders would have been greatly concerned about the rejection at highs on the 27th. Price eventually recovered for 190 pips but the AUDJPY play was still the “less stress” play
EURCHF – Double bottom held along with trend line bounce as mentioned. 91 pips of potential was available.
EURJPY – Called for upside as weekly trend lines broken. 370 pips of profit potential and there was no sign of weakness at resistance. Great trade.
GBPCHF – Consolidation continued to form until the Thursday breakout. While it was a move you could trade, large momentum candles from low to high (or high to low) inside congestion are not my favorite plays so not counting these pips.
308 pips came from our setups from last week and I always say that position size matters. If you were trading one standard lot (not adjusted, using $100,000 for $10/pip) then you are looking at $3000.
Of course you have to pay spread but unlike day trading/scalping, your cost to trade will be cheaper because you are taking less trades.
Are you using a trading log for all your trades. If not, you may be missing out on opportunities to improve your trading! Check out: http://www.netpicks.com/why-your-trade-log-is-your-best-friend/ to learn about the importance of trading stats.