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Trading Short on the GBP plus Daily Strengths & Weaknesses

BY , , , , , ,



In this video:

00:22    Amazing feedback from last week’s presentation
00:57   Offering a really good incentive upon signing up
01:29    Been asked by Forex Peace Army to write for them
02:05   Adding strengths and weaknesses of pairs for people to follow
03:22    Kiwi being the strongest currency at the moment
04:11    Downward movement in Silver and Gold continue


Hi traders Andrew Mitchem here the Forex Trading Coach.

Welcome along. Today is Friday the 15th of February, 2013.

It’s been another really good week. Had some amazing feedback from the information we talked about on last week’s presentation.

Importance of Backups

I talked about the importance of backups. If you haven’t seen that yet make sure you go and watch last weeks. It could save you a lot of headaches.

Training for new Traders

Had also some amazing feedback about my webinars that I hold for newer traders every week.  So I’m holding two every week.  Make sure you jump on those if you’ve not been on there.

Got some great feedback. People are learning some really good information helping them along with their trading. And also just to let you know at the end of the presentation I’m offering a really good incentive and the incentive is – you can actually get a one hour private webinar with myself if you are to sign up to my course on that.

So it’s really worth attending. No one else gets that it’s just a few people who signed up after those sessions can get a whole hour talking through your trading with myself.

So make sure you jump on to those webinars if you’ve not already done so.

Forex Peace Army Exciting News

The other thing I have to tell you. I’ve been asked by Forex Peace Army to write for them. Now I respect Forex Peace Army. I think it’s the most important review site out there. And it has been for quite a number of years and they catch-out a huge number of people – catch them doing some really dodgy things within this industry.

And so I really respect them for that.

They’ve asked me, they’ve approached me and said, “Look Andrew, would you write for us so our clients can get some benefit from your trading knowledge”.

And I said, “Yes, sure I’ll help you out.”

So what I’m doing starting from this coming Monday is I’m going to be adding the strengths and weaknesses that I see each day on various pairs and writing that information down on their sites for people to follow along.

I put that information on my site for my clients plus a lot more.

But I’m just going to saying about some of the currency pair that I see has been particularly strong or being particularly weak for the upcoming day.

What will that help you do with your Forex Trading?

So what that allows the people to do is to try their own system whatever it might be – but knowing that, you’re trading with the likely direction for that upcoming 24 hours.

So look out for that and I’ll fill you with more details this time next week after I’ve been writing for the first week.

This weeks Forex Trades

On the trades themselves this week, the GBP has just crashed yet again and the GBP against the NZD and the AUD has just fallen away. And the GBP/NZD and also the EUR/NZD are now at historical lows and so there just doesn’t seem any end in sight for those two.

In fact today being Friday I’ve shorted the EUR against several other pairs. I can see that the EUR is falling back.  And the GBP of course is falling back. The Kiwi is looking the strongest. At the moment it’s the strongest currency and it just reached the 0.85 and just pushed through the 0.85 cents against the USD right now as I’m recording this.

So that could well push up a touch further.

Moving into Metals

And also away from the currencies, Gold & Silver have fallen. And it came down quite a lot. Golds now at the level that’s only been reached once so far this year now it was the first couple of days in January.

So it came down to that support level. If it continues to fall then of course it could break through that support level later today into next week or the other scenario is if we see a reversal candle pattern there, we could get a lovely double bounce of that strong support from the early part of January.  Could get another bounce again now and we could see the upward movement in Silver and Gold continue.

But of course that all remains to be seen with candle patterns so that’s why I’m a technical trader. I can see what I think is likely to happen, but I still need the backup from the charts and the actual price itself to determine whether I’m going to place my money on it as a new trade.

So that’s all for now.

Look forward to updating you this time next week with some more information about how I’m progressing with writing for Forex Peace Army.

I just wanted to share that with you now nice and early so you’ve got the opportunity to jump across to that site and have a look.

So have a great Friday. Have a great weekend and I’ll talk to you this time next week.