Find a range and play it...

Range plays need momentum and enough distance between reversal zones to make the trade worthwhile after paying the spread.

The AUDCAD has obliged recently and, today, moved up strongly from the lower range boundary from a round number.

Close stops are essential as, sooner or later, the range will be broken!

Gaps and more gaps!!!

The defining move of two weeks ago and the subsequent follow throgh has ignited the $US bears, but just consider this. Two weeks ago commentators were generally neutral to bullish and the $ dramatically weakened.

This morning, following the Sunday night trap gaps, I'm receiving emails from the same commentators who have now cottoned on to $ weakness and are calling for a $2 pound, and the $ is marking time this moring with some quick counter trend profits taken by those who correctly interpreted the overnight gaps. The moral of this is of course is to use contra think - when the 'experts' and bullish, look to be a bear and vice versa, at least in the short term.

Take a look at the Jappy, the Fib Grid highlighted a major support area just under where price bear gapped to Sunday night and the rally, as you can see, went through 100 pips.

500 pips from Friday to Friday

A lot can happen in a week! a five times move in a week of trading Cable. The defining move last Friday kicked the market into action.

Look at the red lines and the move, whilst expected to be big, went beyond my original expectation for the week. But the grid, swing extensions and indicators such as the ATR kept us on track for one of the best moves of the year!

Traders Class members can view the video showing the detail of the extensions with prediction areas that all fell into place. Login in to Traders Class by clicking here.

Plus - members can listen to a talk from Tony Robbins - Tony is well known for his Fire Walk and motivational seminars but here he talks common sense about how the baby boomer generation could lead to the next economic shift - is it boom or bust - listen to Tony for his answer.

A defining move (and over 100 pips!)

There are times when price makes a defining move and today could be one of those times. Looking at the last post price stopped at a grid prediction area and could have moved further this week but it didn't.

The message here is clear, the grid lines stopped the £ falling any further and the raft of economic data this week was enough to convince the market that US$ dollar strength had been over done.

A three day base set up an MPR, price broke a significant downtrend with the US housing figures as the catalist to give another 100 pip move to cap the week off! Partial profits taken where the grid told us too! with symetry on time and price.

Despite the Pundits, the US$ is strenghthening...

Another useful move in Cable this morning following on from yesterday's FBR.

The entry point at 1 was at a classic technical area and the Grid has highlighted areas 2 & 3 to take partial profits. 100 pips before lunch!

What an amazing FBR!!

What an amazing FBR!!

These patterns just keep on appearing. The FBR here on the two hourly chart was immediately followed by an MPR with clear entry points

The name of the game is to take profits, as you all know it is too easy to look at a profit turn into a loss!! So the exit is highlighted here by the Fib grid line.

And then the Swissy obliged....

The next setup came from a combination of the Fib & Click Grid highlighting a potential reversal area that was closely followed by an MPR.

The MPR triggered a long that took price up to the next Fib reversal area and, again, an MPR formed as the trigger to take a net 43 pips.

The combination of Fibs with the correct interpretation of price action from both MPR's and FBR's dramatically increase the odds of successful trades. Traders Class members have access to today's video and the video library that details how to trade these setups.

Well done Euro, 30 pips in the bag!

Another morning move with clear entry and exits highlighted. Firstly a break below supports that rapidly became an FBR on lower support and then the long was triggered off an MPR.

The up move then came to stop at another resistance point picked up by the Fib Grid and prior price action. The MPR gave the exit and short signal.

It's Non Farm Payroll day, and, as usual, mayhem unsues!

It's Non Farm Payroll day, and, as usual, mayhem unsues! Some traders take the day off, overs get knocked to pieces with the whipsaws but there was a way to trade today.

Firstly trader the morning move and the chart shows two significant levels picked up by the Fib Grid, long on one and short on the other.

Followiing the morning move the trick is to get well positioned, ahead of the figures, or wait for a few minutes after the anouncement and catch the inevitable rebound.

To watch this morning's video click this link and then this one.