Rapier: We are off to a steady start with our colour coded indicators showing us the way to a +57% increase over 2 months with a low draw down and trading with minimum lot sizes which we add too as we go. Having experienced trading as institutional brokers for Tullets in London we fully understand the power of trading with the trend in small ranges to specific 'Targets'.
We teach our methodology via our online educational course at www.kos-forex-academy.com and people can copy our trades on Signal start under AceFX.
We have been expecting chaos in the markets as China slows and the bad news out of Greece becomes somewhat muted. That along with seasonal expectations of a lack of liquidity caused a market jolt and a flight to quality last week, and that is why we decided to sit this week out. Next week we could see some retracement caused by profit taking and further uncertainty. We will be looking for the breaks to come on the unusually bid EUR/USD pair around the key 1.14 level and looking for opportunities to sell it.
One of the most volatile FX sessions we have been involved with for a very long time and we needed to ride out the storm from 1.16 to 1.17 in EUR/USD today. But we were confident that profit taking would see a reversal from the sharp move higher which helped us to push our gains to over 62% now.
Rapier is +6% this week in volatile trading. Our profit protective software kicked in and closed a few trades that then went on to make further gains but we cannot do much about that. Better to make a tiny profit on occasions than a loss! Our win ratio is now up to 82% and we are delighted with this.
Last week's tail end Dollar weakness was due to position taking ahead of the US's interest rate decision which is due this Thursday. With the stock markets taking a battering the EUR/USD was seen as a flight to safety after a brief rally on EUR/CHF and the GBP/USD. And with gold and oil taking a trip lower bound the markets were acting out of kilter/correlation.
But we likened the blip with the EUR/USD pair to a small dog chomping on a tight leash and with the threat of a hike in the US - no matter how small - the lure of the 1.1200 would remain in place until after the Fed make their announcement.
As we predicted, the EUR/USD pair is now flirting with 1.1200 - currently trades at 1.1215. We earlier came withing 3 pips of our target exit at 1.1210 when we closed out all our positions. Extra cautious trading now with tight stops is the only option where extreme volatility is imminent.
Friday: we thought we would wait for some resistance around the key 1.1450 area with EUR/USD before going short. We did go short here but the market tripped our break even protective software before continuing the sell off and we missed out on a nice move. But, hey, ho, we will return to trade all too soon with more opportunities as presented by our colour coded indicators.
& copy; 2021 Myfxbook Ltd. Všechna práva vyhrazena.
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