Forex Signals 13 Jan

Another excellent day at the trading desk. CADJPY reached the full +120 pips target(total 240 Pips), EURJPY reached second target at +100(total 150 Pips), GBPJPY reached +70, GBPUSD +50 and EURUSD +40. Feel free to to post your comments and suggestions.

Order ID: 9 | Update | $GBPUSD Buy 1.6105 | First Profit Target Reached at +50 Earlier | Move Stop Loss to 1.6145
Order ID: 10 | Update | $EURUSD Buy 1.4505 | First Profit Target Reached at +40 | Move Stop Loss to 1.4475
Order ID: 11 | Update| $GBPJPY Sell 147.55 | First Profit Target Reached at +70 Earlier| Move Stop Loss to 147.35
Order ID: 12| Update | $EURJPY Sell 132.70 | Second Profit Target Reached at +100 Earlier| Move Stop Loss to 132.00

Update at 0400 Hour Candle:

Order ID: 9 | Update | $GBPUSD Buy 1.6105 | Closed out at +40 Pips
Order ID: 10 | Update | $EURUSD Buy 1.4505 | Closed out at -30 Pips
Order ID: 11 | Update| $GBPJPY Sell 147.55 | Closed out at +20 Pips
Order ID: 12| Update | $EURJPY Sell 132.70 | Closed out at +70 Pips

Order ID: 13 | Type: Pending | $EURJPY Sell 131.45 | Stop Loss: -85 Pips | Take Profit: 50-100-150 Pips

Update at 0800 Hour Candle:

Order ID: 13 | Type: Pending | $EURJPY Sell 131.45 | Waiting to Get Filled

Order ID: 14 | Type :P ending | $EURUSD Buy 1.4500 | Stop Loss: -50 Pips | Take Profit: 40-80-120 Pips
Order ID: 15 | Type :Order Cancels Order | $GBPUSD Buy 1.6200 | Stop Loss: -65 Pips | Take Profit: 50-100-150 Pips

Update at 1200 Hour Candle:

Order ID: 13 | Update | $EURJPY Sell 131.45 | Price Action Changed, Cancel Order
Order ID: 14 | Update | $EURUSD Buy 1.4500 | Currently at +5

Order ID: 15 | Update | $GBPUSD Buy 1.6200 | First Profit Target Reached at +50 | Move Stop Loss to -32 Pips

Update at 1600 Hour Candle:

Order ID: 14 | Update | $EURUSD Buy 1.4500 | Second Profit Target Reached at +80 Pips | Move Stop Loss to Break Even
Order ID: 15 | Update | $GBPUSD Buy 1.6200 | First Profit Target Reached at +50 Earlier | Currently at +80 Pips

Update at 2000 Hour Candle:

Order ID: 14 | Update | $EURUSD Buy 1.4500 | Second Profit Target Reached at +80 Pips Earlier | Rest Closed out at Break Even
Order ID: 15 | Update | $GBPUSD Buy 1.6200 | Second Profit Target Reached at +100 Pips| Move Stop Loss to 1.6240

Order ID: 16 | Type: Order Cancels Order | $GBPJPY Sell 148.15 or Buy 149.10 | Stop Loss: -95 Pips | Take Profit: 70-140-210 Pips
Order ID: 17 | Type: Pending | $EURJPY Sell 132.15 | Stop Loss: -110 Pips | Take Profit: 50-100-150 Pips

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

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17 Responses to “Forex Signals 13 Jan”

  1. Pierre 13 January 2010 at 9:25 pm #

    I take my hat off.

    Trade tips are very accurate. Thanks for sharing.

    Do you use technical, fundamental, mix of them, … none of them ?

  2. FirePips 13 January 2010 at 9:57 pm #

    Hi Pierre,

    Thanks for your comment. Price Action analysis is what I do, you can say it is more technical than fundamental. However no indicators are used, so it is not entirely technical. The idea is to look at the price movement in relation to its current position during week/month. Based on this analysis I then decide where the price is more likely to head off.

    I do read and pay attention to fundamentals but do not use then to make trading decisions. I also spend a lot of time reading trading psychology related material.

    Hope this helps.

  3. Shiv 14 January 2010 at 2:58 am #

    Hi, when I recieve your emails it always mentions first target reached. Am I missing the signals?

    Excellent job on the forecasts:)

    regards

    Shiva

  4. FirePips 14 January 2010 at 3:48 am #

    Hi Shiv,

    Emails are sent once a day via Feedburner (Google Service), hence you see only past data. To receive signals in real time I recommend following us on http://twitter.com/FirePips and http://www.facebook.com/FirePips

    Cheers

  5. Mike 14 January 2010 at 6:23 am #

    Forexpips, are you using GMT time for your candle?

  6. FirePips 14 January 2010 at 6:36 am #

    Hi Mike,

    The candles I use open at 5PM EST. FXDD, Tradestation etc uses the same candle times.

  7. nikita 14 January 2010 at 9:06 am #

    hi..

    am eager to try out ur tips..but dont really understand as in

    1)when is the starting time to follow ur tips(can i start midway for example..start now ? )

    2) the lot size u mentioned.. u said open 3 same lot size for 1 pair..(am blur)

    3)im at gmt+8 timezone..so when is the begiining of the update or the next update..

    sorry for so many problems, im just eager to try ur methods..:)

  8. Eric 14 January 2010 at 9:14 am #

    Hi FirePips,

    Regarding ur update at candle 1200hr.

    May i know how you read the data? I guess the graph i'm using is different from you? i'm using GMT +1.

    And from my view, GBP/USD already reached 1.62597. Does that means that you already gain 140 pips?

  9. Pierre 14 January 2010 at 9:33 am #

    I traded SELL EUR/JPY @ 132.492 currently @ 132.925 (-40pips)

    Will you keep it up if you would me ?

  10. FirePips 14 January 2010 at 9:52 am #

    Hi Nikita,

    1. You can start at next Signal, the candles I use open at 5PM EST and then every 4 hrs from then on. You can use http://www.timeanddate.com/worldclock/meeting.htm… to work out local time.

    2. That's right. You open 3 trades for same pair, each with same buy/sell price, same stop loss but different profit target. When order type is "order cancels order" then you open trade in both direction and wait for one of them to get filled, you either close the other one manually or your broker, depending on order type on your platform.

    3. Already answered at point 1.

    Cheers

  11. FirePips 14 January 2010 at 9:53 am #

    Hi Eric,

    Please see my answer to Nikita, it contains link that you can use to work out your local time. You can also download FXDD demo at follow 4 hr candle on their platform.

    Regarding GBPUSD, If you are looking at Order Id: 15 then it was triggered at 1.6200, there was little typo on it, which I've already fixed.

  12. FirePips 14 January 2010 at 10:07 am #

    Hi Pierre,

    It is hard to say, the current price action suggest bullish move, however it could be a pullback of the recent down movement and it may turn around to go south later. If I may say anything, follow your trading plan and if it reaches your predefined Stop Loss then exit the position.

  13. nikita 14 January 2010 at 10:46 am #

    hi

    thanks!

    am now tryin to follow u via tweeter..and tryin to find an app to push all ur new tweets so i can see it once u update..

    will give this a try..thanks for ur patience.. :)

  14. FirePips 14 January 2010 at 10:57 am #

    No problem, Nikita. Try "Seesmic for Windows", it may just have what you looking for.

  15. Pierre 14 January 2010 at 11:01 am #

    take off from eurjpy @ 133.000 hit -50pips

    eurjpy is in nice uptrend as you wrote (+100pips since early morning)

  16. Miriamt44 14 January 2010 at 12:34 pm #

    What pairs do you trade? I see three pairs above EUR/USD, EUR/JPY & GBP/USD, also is the tweet released at 5pm NY Time?

    Sorry to be a pain but I am in Melbourne Australia and need to work out times

    ie Wed 5pm NY Time is Thurs 9am our time

    Miriam T

  17. FirePips 14 January 2010 at 9:42 pm #

    Hi Miriamt44,

    These days I trade EURUSD, EURJPY, GBPUSD, GBPJPY and CADJPY, however not restricted to these Pairs only. Pairs are added or deleted based on their recent Price Action.

    Signals start from 5PM EST (9 AM your local time) and every 4 hrs from then on.


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