Forex Signals 8th Feb

Here we are again, starting yet another week. For those still having trouble interpreting signals, let me know and I’ll try explain them better. If you new here then try reading FAQ at the top. As always feel free to comment below.

Update at 1AM EST / 6 AM GMT / 0800 Hour Candle:

Order ID: 1 | Pending | $GBPUSD Sell 1.5575 | Stop Loss: -45 Pips | Take Profit: 50-100-150 Pips
Order ID: 2 | Pending | $EURUSD Sell 1.3615 | Stop Loss: 40 Pips | Take Profit: 40-80-120 Pips
Order ID: 3 | Order Cancels Order | $CADJPY Sell 83.05 or Buy 83.60 | Stop Loss: -55 Pips | Take Profit: 40-80-120 Pips

Update at 5AM EST / 10 AM GMT / 1200 Hour Candle:

Order ID: 1 | Update | $GBPUSD Sell 1.5575 | Closed out at -45 Pips
Order ID: 2 | Update | $EURUSD Sell 1.3615 | No Fill, Cancel Order
Order ID: 3 | Update | $CADJPY Buy 83.60 | First Profit Target Reached at +40 Pips | Move Stop Loss to -27 Pips

Order ID: 4 | Order Cancels Order | $GBPUSD Sell 1.5525 or Buy 1.5630 | Stop Loss: 105 Pips | Take Profit: 50-100-150 Pips
Order ID: 5 | Order Cancels Order | $GBPJPY Sell 138.55 or Buy 140.00 | Stop Loss: 145 Pips | Take Profit: 70-140-210 Pips
Order ID: 6 | Order Cancels Order | $EURJPY Sell 121.50 or Buy 122.85 | Stop Loss: 135 Pips | Take Profit: 50-100-150 Pips
Order ID: 7 | Order Cancels Order | $EURUSD Sell 1.3615 or Buy 1.3720 | Stop Loss: 95 Pips | Take Profit: 40-80-120 Pips

Update at 9AM EST / 2 PM GMT / 1600 Hour Candle:

Order ID: 3 | Update | $CADJPY Buy 83.60 | Closed out at -27 Pips
Order ID: 4 | Update | $GBPUSD Sell 1.5525 or Buy 1.5630 | Waiting to get filled
Order ID: 5 | Update | $GBPJPY Sell 138.55 or Buy 140.00 | Waiting to get filled
Order ID: 6 | Update | $EURJPY Sell 121.50 or Buy 122.85 | Waiting to get filled
Order ID: 7 | Update | $EURUSD Sell 1.3615 or Buy 1.3720 | Waiting to get filled

Order ID: 8 | Order Cancels Order | $CADJPY Sell 83.15 or Buy 83.95 | Stop Loss: -80 Pips | Take Profit: 40-80-120 Pips

This post has continued on to next day. Click Forex Signals

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12 Responses to “Forex Signals 8th Feb”

  1. Prakash 8 February 2010 at 12:25 pm #

    Is there any excel macro to submit the orders into MT4?

    • FirePips 8 February 2010 at 2:16 pm #

      Can't help you there. I am really good at any sort of coding / programming.

  2. richard 8 February 2010 at 11:00 am #

    Hello Again
    you did reply to my question but unfortunatly im still in the dark about this ,
    5pm EST is a 00.00 candle i dont know why if its 5pm your time a candle is 4 hours so that doesnt start or finish at 00.00 gmt is 5 hours ahead so thats 22.00 could you explain further. Im sure im just missing somthing simple .
    Thanks

    • FirePips 8 February 2010 at 11:24 am #

      As you may already know that different broker have different times for opening new Daily Forex candles. Some broker use GMT 0000 and some use GMT +5. We use 5PM EST (10PM GMT) since it coincides with end of Stock market in US.

      The main players who move the market are Bank traders and Institutional traders, and they look at 5PM EST to make their trading decisions. If you follow a different start time then your candle would appear different to theirs. For Ex. A Doji on your end may not be Doji on theirs. Self-full filling prophecy…remember?

      Does this answers your question?

      • richard 8 February 2010 at 11:51 am #

        Hi__ yes this answers my question thanks for taking the time to reply,

  3. davide 8 February 2010 at 11:36 am #

    hello,
    just wondering if anyone knows an ea/indicator/tip to put the 3 orders of FP strategy in a faster way., I mean, some kind of cut&paste or duplicate/triplicate orders tool, to avoid writing for 3 time the same "entering price" and "stoploss", just changing profit target.
    thanks
    davide

    • FirePips 8 February 2010 at 2:17 pm #

      You can perhaps use an Automation program. I use Autohotkey for creating shortcuts of things I type often. Though it may not help you with what you after.

    • Kevin 8 February 2010 at 5:01 pm #

      I dont know if this will help you, but I use Magic Lines http://www.magiclinesforex.com/

      • davide 8 February 2010 at 8:03 pm #

        thx Kevin but I think we can use it with firepips strategy because we open 3 trades everytime:

        "# Can I use Magic Lines on more than one trade? – Yes, but only on a different currency pair."

        • FirePips 8 February 2010 at 10:28 pm #

          If you guys really like that software, then someone can sign up for affiliate and perhaps give the back the earning.

  4. Shahid 8 February 2010 at 2:35 pm #

    Hi Firepips,
    Is there any reason why don't we trade USD/JPY?
    -Shahid

    • FirePips 8 February 2010 at 6:09 pm #

      USDJPY Price action doesn't work well with our method. Plus profit targets on that pair is usually quite small.


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