Mike's Forex Trading Soapbox

GBPUSD, the GBP has broken the top of the trend line, so the expectation is now to the upside, because the .618 level holding, my expectation is that this will possibly be the start of a new trend…

Continued in the members area
—————————

Here is bonus for the members.

DJIA again I am seeing a sign of weakness at the top of the DJIA, pin candle formation. On the 10.3.2010 I have an equal time AB=CD pattern, so far we have failed to reach an AB=CD in price. This implys that the last leg up is weak…

Continued in the members area
—————————

GBPUSD
The GBP is looking weak against the dollar, the fact that we have broken the previous high “Critical Level” would lead me to believe that we are still in a downward correction, failure to break up from the current level would open up the level indicated by the yellow bar. I have the…

Continued in the members area
—————————

The AUDUSD failed to exceed the previous high that it set in October, it then declined setting a lower low, potentially this is a reversal signal. You can also see that the last leg up put in an abcd pattern which failed so far to give AB=CD on the 13.3.2010 we would have an AB=CD in time, if the AUD fails to perform an ab=cd pattern by this time I would be bearish…..

Continued in the members area
—————————

Prediction – AUDUSD Potential Higher Push Prediction From 16/02/2010

See original post here

Prediction – GBPUSD POSS TURN 5-8 Feb 2010

See original post here

See interim update post here

Prediction – TECHNICAL ANALYSIS GBPUSD Xmas Reversal from 24th December 2009

See original post here

Recent Results Speak of Themselves!

I just wanted to update you on how my predictions have been going on the GBP, which is one of the currencies I trade.
If you had taken some of my predictions on the GBPUSD you would have made around 800 points with only three trades since Christmas.

If you traded the DOW you would have netted about 880 points on that move alone. So what about the future, how will you improve your trading in the future. If you are serious and really want to be able to make money trading you have to know when to buy at the bottom and sell at the tops.

Money is made in trading by getting in at the tops or bottoms or as close as you can and selling or buying. You don’t always have to get in at the very top or bottom, you can always wait for you analysis to allow show you where these positions are then look for a retrace back to your predicted level.

If you don’t have a way to do that then, how will you make money in trading? Many traders that have seen what I do are amazed, no one showed them such radical ways to trade. What I learned I did the hard way, in fact I threw most of my books on trading away, because they simply do not work.

80% of people that lose trading do so because what they are doing is simply wrong, that and the fact that some brokers will allow you to open accounts with $25. You might as well write the broker a check and save yourself the frustration of bothering to trade. You will lose that money 100% sure on that.

Many of the people that I discuss trading with make all the mistake I made. Good traders are not born they are made. The ability to trade like I do can be learned, it’s not magic. One of the reasons I made my course on trading was to help out a friend who kept asking me to teach him. When I started my blog, other people saw that I was not some pretender making calls on a market that had already moved. I was making all my calls before the moves happened and I was confident enough to make those calls public.

Success in life, is earned through hard work. no matter what the advertising says, no one can trade from day one and become a successful trader. All the traders I know that are any good, have blown at least three accounts. Some of these accounts have been in excess of six figures.

Knowledge is the key to trading, you can walk the path yourself or you can follow in someones footsteps. knowing what I know now, I would rather have a guide then tread the path alone.

All the best

Mike

Related Blogs

• Rap-Up.com || Drake's Debut Album Gets Release Date
• Germany's Trading Secrets | tradeshow
• Your Money or Your Life – a Financial Crisis Comment | PediaWorld
• haranfx.com gbpusd potentially turning UPDATE!
• JavaScript Ignore HREF Attribute Value « Akbar's Blog
• Prediction market news: HSX, Nadex, Predictalot, mailing lists …
• The post-partisan president slams Tea Party « Yourish.com
• Luminous Paper Money by Jaesik Heo, Hojoon Lim & Dahaeng Lim …
• Toyota To Pay Money, Give Free Loaners To Chinese Customers …
• Inter Milan (Internazionale) v CSKA Moscow Preview, Prediction …
• Speculating and hedging on BetFair's sports prediction markets …
• Trading Weights For Sunshine
• 'Bankrupt' Icelandic company makes lots of money | IceNews – Daily …
• www.haranfx.com USDJPY potential reversal?
• GBPUSD Broken Trendline 17032010 Urgent Update 19032010
• AUDUSD Forming ABCD Pattern
• GBPUSD Broken Trend Line
• AUDUSD GBPUSD Results of 3 Predictions
• AUDUSD Potential Higher Push
• 2010 Fashion Trend Prediction Bustiers Polyvore | Fashion Trends

This is currently sitting on an AB=CD at 100%, now there is the chance it will make a push higher, we are also sitting at the 0.9000 which is a significant level due to the fact that people often target triple zeros. I am scaling in on this trade, if we have not seen a decline by 10pm then I would consider waiting for the next level.

Memberships Page | My Account | Quick Profile | Log Out

The ideal target zone for a buy trade is 1.55287, as of today 8th Feb 2010 this level is still not exceeded so the analysis is still valid. The turn in time was forecast for the 6th of Feb 2010, as the markets did not trade on this day the expected turn time would be Monday 8th Feb 2010.

A break of 1.5……
—————————
Please login or register for Mike's GBPUSD Signal Service or Forex Master Key Precision Trading Book - Including The Saw Wave Pattern to view this content.

The GBP has been under a lot of pressure lately, however I have a turn in time forecast for the 6th of Feb, which is a Saturday, this would imply that it is either going to turn today 5th or on Monday 8th, I have forecast the possible prive levels that I am looking for a reversal at, once again always use stops. I am hoping that 1.56039 will hold. If the news for NFP is dollar positive, and we get a big GBP sell off, expect the turn to come in on Monday. Reversals on a Friday have a high failure rate. Remember we are trading the market not our analysis. It is always right, I am not.

test post 2

Visible test post Public
—————————-

Please login or register for Mike's GBPUSD Signal Service or Mike's Trading Room to view this content.