Friday, February 6, 2009

Forex Trend Alerts: 02/09/09

Currency Pair ---- Trend ---- Position ---- Stop ---- Comments

EUR/USD -- Hold Short with stop at 13100

GBP/USD -- Hold Long and move stop higher to 14400

USD/JPY -- Liquidate Short position, reverse Long with stop at 8950 on close

USD/ CHF -- Hold Long and maintain stop at 11320

AUD/USD -- Hold Long and move stop to 6620 on close


  1. Hi Michael,
    I was tempted to sell out the gbpusd at 1.4850 but have held on waiting for your sell signal.
    What now?. I bought in at a late hour yesterday.
    thks n regards,
    1 beginner

  2. We are trend traders, not swing traders or intraday traders. Market prices fluctuate from time to time, we get confused by following the market too closely. Our system indicates that the GBP/USD is still up. Our stop is now at 14450. If you are under good money management, you should hold your long position until the sell signal arises.
    Have a profitable trading!


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