In this video:
01:02 US Non-Farm Payrolls worse than anticipated
03:02 GBP and Kiwi Dollar overall the big movers of the week
05:52 FPA user made 6.7% on one day using free suggestions
Well we’ve had good trades, fantastic results, big movements on the charts and last week’s Non-Farm Payroll's – I was bang on.
Let me share more information with you right now.
Hi it’s Andrew Mitchem here welcome along. I’m from the Forex Trading Coach.Today is Friday the 14th of February and it’s a Valentine’s Day so hope you’re having a fantastic day with your love ones.
I want to talk about some really good trades that have occurred this week.
But before I must jump into that I must tell you about last week’s Non-Farm Payrolls.
How I predicted last week's US jobs data would be worse than anticipated
I make these videos on Friday morning my time and so when I was making last week’s video and podcast that was sixteen hours before the release of the non-farm payroll's which is Friday morning US time. That’s the early hours of the morning New Zealand time on Saturday.
So that was a long time before the announcement when I made a prediction on the last week’s video to say according to what I could see on the charts as a technical trader it looked to me like the US non-farm payrolls would be worse than anticipated and that’s exactly how they came out.
In fact the result was 40% worst than anticipated.
The anticipated result was around 185,000 new jobs created for the month. The actual result came in at 113,000 jobs, so a huge difference there, a 40% reduction from the actual to what was anticipated.
But the great thing is as a technical trader is that we could see the likely result of that news announcement and more importantly the likely direction some sixteen hours prior to that announcement coming out. It was almost like staring at us – glaringly obvious on the charts that was the likely outcome.
I just wanted to let you know that you don’t have to wait around for those news announcements, the big spreads and things like that because the charts were telling us well and advance what the likely result was going to be and the likely direction and of course it worked really well.
GBP, USD and NZD are the big movers for the week
So onto the charts themselves this week – we have seen that USD continue to fall following on from that non-farm payroll announcements that poor results for the US jobs and we’ve seen being the GBP very strong this week.
We’ve also seen the Kiwi Dollar and also the CAD to lesser extent but also those showing strength.
Gold and silver have continued to climb all week.
The EUR is the interesting one this week. On Tuesday and Wednesday we had a big reduction – there was a bit of a clue on Tuesday with the Pinbar showing on the daily charts the price then fell on Wednesday and then on Thursday it was completely reversed and it’s pushing back up again looking to continue from what I can see right now.
Today being Friday I’m looking for Buy opportunities on the EUR/USD and Sell opportunities on the US/Swiss Franc.
Right now as I’m looking at the charts that to me seems the likely direction but the GBP and Kiwi Dollar overall definitely been the big movers of the week – pretty much straight up day after day.
+3.5% Gain for the Week
As a result to that we’ve had a really good week on my own personal trades. I’m up over 3.5% right now for the week and that’s trading with only 0.5% risk on any trade.
I’m up around just over 1% for the week on the daily charts.
A break out strategy that I use and teach my clients has made 0.5% and the four hourly charts I’m up around 1.8% so far for the week, so all up pretty much around 3.5% gain with very low risk and I’ve still got some trades open behind me here.
Two trades still open from today’s day charts and two trades still open and looking really good on the four hourly charts both involved buying the GBP. So they’re ticking along nicely behind me.
So this week I haven’t had a lot of time personally to trade really shorter timeframe charts. But all up if I was to put a time figure on the amount of time I’ve actually spent trading I would say it’s probably under looking at charts and taking the trades probably 2-3 hours this week tops and still I’m up at 3.5% for the week.
So when you get trades like that on those longer timeframe charts they don’t involve sitting watching your charts all day and night – you don’t have to do that. I just like the daily charts and the four hourly charts.
I haven’t even taken very many trades on any other short timeframe charts. In fact my hourly charts this week I’m just about break even – it was slightly positive but nothing very much.
So the longer timeframe charts for me this week would been the real money making trades.
Forex Peace Army Member makes +6.7% return in a Day
Also interesting to note on the strength and weakness analysis that I placed out there on my site and on Forex Peace Army each day (They’re not specific trades as you would know as only my clients get those) but even so I’ve still had eighteen of the trade suggestions close the day in the anticipated direction as suppose to ten which have not.
So even with those free posts that I placed on my site and on Forex Peace Army everyday for you, there are still have some really great opportunities to trade in the direction of those anticipated directions and so if eighteen out of the twenty eight have ended up closing the day in the right direction, you can be sure that if you go down to the shorter time frame charts there’s great opportunities there trading in the likely direction.
Also I’ve had feedback from someone on Forex Peace Army – I don’t know this person, they’re not the client of mine, but just using my daily suggestions this person said they made 6.7% on one day this week.
That’s an incredible amount of money for one day.
I don’t know what their risk is but they’re using my suggestions, placing their own trades in the anticipated direction that I’m talking about and they made 6.7% in just one day.
It was twice what my bank will pay me in one year and this guy made it using free suggestions just in one day, so great trading there and it was really pleasing that people are making some great returns from the help that I put out there.
Webinars, Calculator and E-Book
That leads on to one last thing: don’t forget to sign up there’s a heap of free things on my site of course there’s the free calculator, there are free webinars and I’ve also now had Chapter 6 of my Forex journey book “From Dairy Farmer To Forex Trader” has been released.
You can of course get that chapter by chapter, one is being released each week that’s probably again to be around another ten weeks there before the book is completely finished but you can watch that on video, on PDF file and on audio MP3.
Have yourself a great weekend. Once again don’t forget Valentine’s Day. Make sure you look after the special one in your life and I talk to you this time next week.
Bye for now.