August 22 Forecast Comments
Beware the dreaded everything up! One time in the last 6 months did I actually see everything hit when it was predicted to all go up. I trade forecasts like this very tight. The pairs that are already hit offer a little bonus if you want to catch a retracement. (I do not advise)
Very strange market these days, but I like what I am seeing. Risk appetite is coming back in to the markets as the yen pairs showed some power. I don't think we are out of the woods, but the forecasts give us an opportunity to shave some profits everyday (PROVIDED WE ARE CONSERVATIVE).
We were 5/8 last night right on the mark, with the usd/can coming close (32 pip profit vs 52 ) and the euro/usd and usd/chf not performing as expected. (euro hit its predicted high however). This is pretty good I would say for the week following one of the biggest meltdowns in recent history. There are those that would say this market is worth passing on until something shakes out in the way of a good trend, but I like to keep my finger on the pulse of the action to be prepared for the breakout one way or the other.
So how do you use the forecasts now? Remember, these are 21 hour forecasts. That does not mean you have to jump in right away. If a currency comes close to its high or low forecast (early in the trading day), and bumps away, there is a very good opportunity to grab some good sized pips as it goes the other way. Last night all the yen pairs did just that. Got very close to the low then charged back up. Don't think you have to jump right the minute you get the forecast.
So be steady tonight. A little later this evening I will be posting the latest Forecast Results. You should keep a journal to track the pairs performance.
Good Luck



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