Hi Forex Trader, I often get asked about my own trading results. Here are 4 trades that I took yesterday – all in the direction of the strength/weakness analysis that I made yesterday. Click here to view.
I make my suggestions every day based on where I see the market heading over the next 24 hours. Use my analysis below to aid your trading and to help you keep on the right side of the market.
My suggestions are posted by 6pm EST each day.
There is a public holiday in Japan today.
Yesterday was a very quiet day once again for many pairs. The EUR/USD moved only 21 pips, the GBP/USD moved 31 pips and the USD/CHF moved 17 pips in the entire day! This makes predicting directions and trades a very difficult task for today.
Overall there is minor strength in the CAD and NZD.
Overall there is minor weakness in the EUR, GBP, AUD and CHF.
Trading Directions I am favouring for the next 24 hours
Buy Trades – CAD/CHF
Sell Trades – EUR/CAD, GBP/NZD, GBP/CAD, AUD/NZD, AUD/CAD
VERY IMPORTANT: These are not specific trades. Do not blindly place trades in the directions given above. Use your own trading strategy and look at taking setups that occur in the same direction as my daily analysis. If you don't have your own trading strategy then email me here for help.
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– Andrew Mitchem The Forex Trading Coach Professional Forex Trader and Educator The 5th Birthday Offer Is Now Live, 5 Day Only, 5th-9th May