THEFOREXSNIPER - 1% Risk Per Day (By forex_trader_59882)

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THEFOREXSNIPER - 1% Risk Per Day Discussion

Jan 27, 2012 at 13:40
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3 Replies
BenniB84
forex_trader_59882
Member Since Jan 16, 2012   31 posts
Mar 26, 2012 at 08:25
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BenniB84
forex_trader_59882
Member Since Jan 16, 2012   31 posts
Apr 04, 2012 at 10:10
FREE DAILY ANALYSIS - NO CATCH - www.theforexsniper.com/freedailyanalysis
Updated every day at before 10am to help fellow traders.

Todays analysis 4/4/2012 (London Session)

EUR/USD (Look for Sells):

On the H4 we can clearly see there has been a run of higher lows and higher highs being broken meaning the markets are looking bullish, However the downwards move HAS broken the last key low suggetsing a bearish move.. Over onto the M15 charts, we can see the rate is clearly bearish and has been for several hours. With yesterdays low being broken, and the markets looking bearish on both the M15 and H4 charts, today is a good day to be selling the Euro!!! Just be careful of the ECD interest rate announcement at 11:45am! This could have an effect on the rate.

USD/CHF (Look for Buys):

While the trend is down overall on the H4, the previous key high (0.91390) has been broken. The M15 charts confirm this and the market is certainly looking Bullish for the swiss!

GBP/USD (WAIT):

Ok, on the GBP H4 we can see the trend is up (Bullish) with consistent higher lows and higher highs.... BUT watch out for the previous low at 1.58418. If the rate breaks down past this level, we could be looking at a bearish market. To confirm this we go over to the m15 chart and can instantly see a bearish market - although be aware there is a range that has been going on over the past couple of hours. Wait this one out would be my advise... i'd be looking to sell if the rate drops below 1.58418.

USD/CAD (AVOID until 0.099916 is hit):

Well at first glance the H4 charts do look messy for the Canadians, it dook look rangy but over all we can see lower lows and lower highs suggesting a bearish market. The m15 does not confirm this though , as you will see, the M15 is actually as bullish as it gets. Personally I will be avoiding trades on this pair UNLESS it breaks the previous key high of 0.99916 meaning both charts are bullish, at which point I will look for Long opportunities (buys).

AUDUSD (SELL):

BEAUTIFUL price profiling on the H4 - a perfect selling environment. Consistent lower key highs and lows - you will see the rate retraces, drops, retraces, drops... over to the m15, we can see a perfect bearish trend that confirms what we see on the h4 charts. Its a sellers market for the Oz today and it doesnt get much clearer! Look to SELL the AUD. Personally ill be waiting for the retracement and then selling off the next drop (if it happens of course).

PICK OF THE DAY:

AUD/USD - Bearish: With such a beautiful price profile on the Oz, this is without doubt my pick of the day. My call is SELL!
BenniB84
forex_trader_59882
Member Since Jan 16, 2012   31 posts
Apr 11, 2012 at 20:32
FREE DAILY ANALYSIS

Wednesday 11th April 2012 (London)

USD/CHF – SELL

For the Swiss I’m short biased today. The rate is down on both the m15 and the h4. There is some support at the 0.91450 mark which is yesterday’s low. If the rate breaks that low, THEN I will be looking at selling the CHF.

GBP/USD – WAIT

A tricky one today, OVERALL, the trend is slightly bullish on the H4, however on the M15 we can see that the rate is ranging between yesterday’s daily high and low levels. I will not be looking to trade this unless those levels are clearly broken. I’ll be looking for action if the rate rises to 1.59286 or falls below 1.58081. Until then I’ll be holding fire on the pound.

EUR/USD - SELL

Well the H4 is clearly bearish, over to the intraday (m15), I would say the charts confirm this, i.e. the rate is heading downwards. I would expect a short retracement very shortly. If following this new swing high/fractal forms that is lower than the previous, then I would look to sell the Euro. I would expect this selling opportunity during the London session.

USDCAD – BUY

An interesting one today. We can see on the H4 that the trend was completely bearish, however the key high around 1.00366 was broken suggesting a turn in the trend. This is confirmed on the M15 where we see a completely bullish rate. Right now it is retracing slightly but the rate is still up. I’d look to buy of the most recent intraday key high, i.e. when the rate rises and breaks 1.00505.

AUD/USD – SELL

Well, the AUD is still following that strong down trend on the H4 following that drop, retrace, drop pattern. I expect the rate to continue to drop throughout the day. The m15 confirms this bearish market and the rate is currently dropping as expected. I’ll be looking to sell once the most recent key low of 1.02696 is broken, which I expect to happen any time now.

PICK OF THE DAY – AUD/USD – SELL

With such clear price profiling, trend is my friend with the Oz. I’ll be looking to sell once the rate dips below 1.02696. There is good opportunity on the CAD, EUR and CHF also with clear profiles of market direction. Today is a good day to be making some pips.
BenniB84
forex_trader_59882
Member Since Jan 16, 2012   31 posts
Apr 12, 2012 at 08:43
Thursday 12th April 2012

USD/CHF - WAIT

Choppy ranges on both the m15 and h4 today but overall the market is looking bearish. I’ll be waiting on this one. If the rate breaks yesterday’s low of 0.91286. Beware though; looking at the ranges that rate is likely to provide strong support initially. I’ll want it broken by at least 10 pips before selling.

GBP/USD – WAIT

On the h4 we can see the rate is bullish. It is just about confirmed on the m15 charts as we see the rate steadily rising. We can see that yesterday’s high of 1.59369 is providing strong support… if it clearly breaks this support I’ll be looking to ride the trade long.

EUR/USD - AVOID

On the H4 we see a bearish range of just under 100 pips… we go over to the m15 and see a very choppy range. It simply isn’t attractive for me today. If yesterday’s high (1.31558) or low (1.30655) are broken then I’ll get interested, but until now I’ll be avoiding the Euro.

USD/CAD – WAIT

Well on the h4 we see that obvious bearish trend that has recently been broken, yet the rate continues to follow the down trend again… could this be a retracement, or a failed breakout? Well over to the m15 we see the rate is choppy but just about bearish. We see the current range is forming lower lows and lower highs. However I would not look to sell until the rate drops below the key low of 0.99478. One to hold fire on.

AUD/USD - BUY

Well we can see from the h4 that the long running downtrend has been broken looking like a turn to the bullish side. On the m15 we see the rate is as bullish as it gets. Yes finally after the pips we’ve made from the drop, we can take some more riding the thing back up. I expect a short retracement. Following this I’ll look to buy once 1.03938 is re-broken. Another good move to look for is if it breaks 1.04559 which has given good support already. I expect a nice rally if this is broken.

PICK OF THE DAY – AUD/USD – BUY

An easy one today. There is opportunity in the works for CHF, GBP and CAD, but for me the AUD is the clear winner with such a nice turn in the trend. Levels id look to buy off if broken are 1.03938 and 1.04559.
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