We have already achieved our target of 500 pips for the month of March 2009 today. Friday the British lowered the interest rate by half a point on GBP and today the markets reacted further. The candlestick patterns are still trading within the channel and the upper channel continued to act as a resistance level.
I have put a limit at 1.3550 and would capture approx 950 pips on a single trade.
Accordingly trading the Fibonacci, Candlestick patterns and support and resistance with just a total of 7 trades between Feb and March we have made over a 1000 pips.
I have once again demonstrated under live market conditions that with proper education and analysis one does not need to scalp and can still consistently manage to profit from Forex.
Watch the video below to see the live market conditions.
Also remember that these are based on current market conditions unlike most educators who show you how the markets would have moved and how one could have made profits. I am putting myself on a limb when I do my analysis on live markets as I do not really know where the markets will go as I do not get the benefit of hindsight. It is always easy to show what could have been done vs. what should be be done specially when the candlestick formations are still not complete.
Good luck trading.
Monday, March 9, 2009
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3 comments:
This is an excellent insight on how to gain 500 pips..With all these automated robots out there this article is a breath of fresh air.Will implement and post results..Thank you.
I think Heikin-Ashi candlesticks must be used with caution with regards to the price as the body doesn't necessarily sync up with the actual open/close.
Hey there, did you quit doing forex?
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