Hey everyone well it has been a while but got some interesting things to tell yall, been working with some friends I have meet in the forums and got a new EA working that has been quite profitable so far. I am only running it on my IBFX penny account and not my standard account since I just want to be careful. It has pocketed about 350 to 400 pips this week and keeps on going.
I have been using moving averages that I have posted on here and some other ones that I will show later on to make the trades. But instead of using the GBP/JPY or other currency pairs I have used before I have decided to go with odd pairs like the AUD/NZD, the reason for this is because these pairs just are not as volatile as the GBP/JPY or GBP/USD. The reason I want this is because this way the moving averages are not affected by sharp spikes due to news or other events.
I am going to post later on what the moving averages are and how they have been working. But just want a little more time to test them out.
Also I have been working with a friend on my new site and learning some coding to get it off the ground. It ll be a better blog than the one that is over at GusForex.com right now, and will have a lot more interactive video section and ebooks. Just want to make it a full site, not just a simple blog. Also a cool add on will be a sort of tracker that will show one of my accounts doing its trades live, not just me posting them so everyone can see how exactly I do my trades on the spot rather than saying later on. I am pretty busy so hopefully by the end of March everything should be up and running.
Thanks You,
GFX
by Gus on February 19, 2010
Hey everyone sorry I have been so inactive in the forums and my blogs these past week or two. It was my birthday this past weekend so took a well needed break. But I am back and have been going over what has happened the past few days and seems very interesting. I am working on some screenshots like I usually do to show what I saw and some others saw and make it a bit clearer for everyone.
I will have that posted by this weekend since I will have some extra time on my hands. I am also working with a friend on an EA to automate some trading ideas I have been trying to implement but don’t have the time. I will keep everyone posted. I do know I promised a video earlier this year and have not made it and I apologize just have been extremely busy with school and working on my thesis on forex and a tax system based on it.
I have some exciting news coming out and will deliver the ebook too just going to take a bit longer.
Good luck to everyone and hope you all had good trades,
GFX
by Gus on February 2, 2010
Hey everyone well looking at this week we are caught with a few surprises if I may say so. As most of the other traders in the forum I had a stop loss hit when using the 4 Hour Breakout and lost quite a nice amount on that deal. While it wasn’t too bad since looking back over the past month of January the 4H breakout had some great hits and if followed to the key made a great profit.
Well looking at this week alone since I will focus on January on another article, we see some issues. First of all a big support and psych line came up with the .00 areas. I am still keeping an eye out for the downtrend to continue on the GBP/JPY and to think it will continue to push its downtrend. We will be seeing a small push upward by the GBP with the new news of consumer confidence in the UK coming above what forecasters thought but that will only bring a day or two of effect.
I am done trading for the first week of February since I feel like the market is just in a range and will not be worth to risk more capital on a hunch or half baked idea of what might happen. Again this week while bad has thought us how unpredictable Forex Markets are and how to learn from it. Many inexperienced traders will most likely loose money this week trying to trade the small spikes but just loosing at the end. This will split the men from the boys or women form the girls.
I will be working on a new article showing what happened throughout December and January since those who where active with me in the forums made a killing.
Good luck to everyone with the rest of the week and again don’t forget to add me on Twitter.com/GusForex to get live updates of what I am doing.
GFX
by Gus on January 22, 2010
Hey everyone so got back to trading this week and have been really getting some great trades. If you have been keeping up with the markets you will be making a lot of pips. January has kept us going with big moves and has continued the moves we had seen back in December. The GBP/JPY has continued its decline that started well over a year ago and given us some nice spikes in the long direction.
If you guys where trading this week we saw some great spikes and news coming out that made some very good pips for us. Most of this week we had a very neutral bias that didn’t start turning into a player until Wednesday. As we see from the screen shot below the indicators that had been previously mentioned showed us a sharp down turn towards late Wednesday night. As many of you know I am not a big fan of cluttering my charts with a hundred moving averages and colors that just block you from seeing the price action.
If you look at the screen shot above you will notice how most of the week there wasn’t much action until late Monday and early Tuesday but even that turned around after 100 or so pips. The big move of the week came late on Wednesday night due to some news which came out of the UK. the drop was definitely a huge move that shook the already weak yen but was only made worse by breaking the 145.95 resistance line and actually going even further into the negative territory. Those of you who didn’t notice two big things of news came out Friday morning which I normally wouldn’t trade but the downward movement was just too great to ignore. First a speech to the Diet of Japan which was announced last minute and didn’t help the already shaken economy. On top of that the UK had retail sales numbers coming out which while where positive they where no where near the projected outcome but just a quarter of it.
Also for those who follow the 4H breakout this week shows how great it works, since it hit TP1 on the long and went all the way short past TP3, here is a screen shot of that.
This is definitely a longer post than the usual I give but I just feel like we will be expecting some very big moves coming and planning needs to being if we are going to take advantage of it. I have been very active on Twitter and the Forums so highly suggest to go over there and keep up, I normally update Twitter as I trade live. Also I will be posting a new trading video in the Videos section which can be found on the top menu bar of the site.
As for this upcoming week I do see a lot of news coming out on Tuesday which should shake the ground for the GBP and move the yen into even deeper territory than it already is. We have some big speeches coming out of the Bank of England talking about consumer confidence and credit in the country and also big news about the housing index and mortgages. These if forecast are correct will be moving the GBP higher than it is. We will have to wait and see what happens but will definitely be able to make some pips if we keep a close eye on it.
I will be working on a new video and guide but am extremely busy with other things so must wait and see when I can get it done. Again make sure to add me on my other sites like Twitter, and Facebook, I update these a lot more than my blog since it is easier to post my quick thought on matters rather than write a full blog post. And never worry about contacting me on Twitter by message since I really enjoy talking to other fellow traders.
Good Luck,
Gus FX
by Gus on January 4, 2010
Hey everyone welcome back from the New Years break we got and hope you all had a good one, but I am glad to have everyone back. I have been looking over the charts for the last few days and noticed we had some very large spikes last week due to all the bank holidays some of the major currencies where having. If you look below we can see that both the GBP/JPY and the GBP/USD both had very large spikes and the GBPJPY has a gap from Friday`s closing to Sunday`s opening.
GBP/USD 4H 01-03-2010
GBP/JPY 4H 01-03-2010
As you can see last week had some very amazing spikes for the GBP which if you where lucky to get in the trades you ended up with quite a lot of pips.
Due to the fact that we had such large spikes last week and the price broke almost every single support and resistance line I had set up, I do feel like we will have many drop offs this week. I would keep an eye out on the GBP since it will most likely come down a few hundreds pips to recover form the imbalance set while the banks where closed. If you look at the screen shot of the GBP/JPY below I have provided the same support and resistance lines I previously mentioned before the New Years.
By looking at the chart above we see how the GBP/JPY price broke through three very strong support and resistance lines that would have signaled a strong increase in this pair. I am a little skeptic on whether the price is increase was a viable increase, what I mean by this is that since a lot of the banks where closed and liquidity was low an increase of this magnitude has to be taken with a grain of salt. This is the reason I have been saying we will most likely see a big price drop on the GBP/JPY pair and also on the GBP/USD.
When it comes on the GBP/USD I must also advise that I do not normally trade that pair but have just started looking at it now. So I would not take my word completely on it now since I still have no idea how to completely trade it.
As far as the GBP/JPY goes I do see a large drop coming soon and a recovery of the spike we saw. I would recommend to keep a close eye on those support and resistance lines since the 149.15 is completely broken we will see the price drop until it hits 147.43 and so on. I will keep you all posted on what I see but I must say this seems like a great week to make pips, so get your game face on.
Again remember to follow me on Twitter, Facebook, and YouTube. Also go look at the videos section which will keep getting updated as the year goes on and my new webcam and headphones get in.
Always keep you posted,
Gus FX
by Gus on January 4, 2010
Hey everyone we are back for a new year and we cannot wait to see what happens. While looking at the charts I wrote up a quick article on my site at GusForex.com, covering what I saw that would happen this first week back, I highly recommend you go and read it. On that note I would like to say I still stand behind what I said there but I completely forgot about some news that was set to come out in just a few hours for the GBP. The Manufacturing PMI which will be out at 4:30 am Eastern time will show the purchasing power in the manufacturing industry. Depending how this comes out we will see two very different movements in the market.
I am right now waiting to see what happens at the London opening and going to go from there. I must say I do see the market still going downwards to make up for the rapid increase the pair had this week due to bank holidays and New Years.
Always keep you posted,
Gus FX
by Gus on January 3, 2010
Hey everyone hope you all had a good New Years and you all got back safe. I have been planning some new things for the year that’s coming up ahead. And I have been trying to draw up some plans on what I am going to start bringing to the table.
As many of you know I am working on the book and videos. I hope to have the ebook done by next week but the videos might take some time. They are just a bit more complicated since I do want them to be in depth and detailed.
I will keep you all posted on the progress also head over to my blog and friend me on facebook.
Gus FX
by Gus on December 30, 2009
Hey everyone we got a small break today on the GBP/JPY 4H pair using the Monday breakout tool. I attached a screen shot of the trade and while it was a small trade it was a nice treat before the end of the year. I only got in about 30 pips but I was just having some fun.
As you can see it was a small break to TP1 where we hit 146.62 this is a strong resistance level and we will have to wait to see what happens. A break there would signal a move towards 149.15 and then high once that line is broken. If the price decides to just test 146.62 and start going downwards again we will probably hit 143.78 and then wait at resistance line 141.99 this is the last resistance level in my trading plan that will signal that the downturn has begun again to get a new low at 118.81 and a lot of pips for us.
Here is the screen shot of some of my support and resistance lines I threw on the charts this week and the ones I will keeping a close eye on.
This will begin to be a waiting game to see where the price goes, patience is a virtue in this time of year with low liquidity around the world and many traders not even working. I recommend if you trade to have tight stop loss and take profits since price is not moving to far in either direction.
Good luck to everyone,
Gus FX
by Gus on December 28, 2009
Hey everyone well this is the final week of trading of the decade, definitely should be a nice one. While I must say that I do not see anything big movement this week given the fact that a lot of banks around the world and traders just are not active this week. But I do feel like this week deserves one last post as a goodbye. I wanted to stick to fundamentals this post and not talk about the year as a whole but instead focus on the GBP/JPY pair.Looking around at the prices the past few weeks many can notice that the pair has been pretty up and down the whole year.
The past few weeks we have been dealing with the decline that happen a few months ago which recently started hitting a ranging point. The pair has been in a downtrend since about mid 2008 when it started coming down from the 215 price range. As you can see from the screen shot below the bearish movement has continued until the start of this year when it hit a low of about 118 and has been with the bulls for the better part of the year. It wasn’t until this summer that we saw the bearish outlook and downtrend come back.
The downtrend that many of us have been riding for the last 6 months has hit what I would call a wall, it has been ranging the past month and not really picking a nice direction in which to go. This has offered some nice small trades of about 50 to 100 pips in either direction but not what I would like to see in the long run, since I have always preferred the longer trades. I do not see this ranging period being exited anytime soon and we will most likely have to wait until 2010 to see a new direction most likely by mid January we should have a new bull or bear market coming on. The good thing is that as you can see we do have a form of triangle forming which I am hoping the break provides us with where we need to go.
As my research shows and the way I will react to this is that if the GBP/JPY breaks 147.43 the price correction will continue to at least 149.15 which means we will hit a small correction but by no means does this mean the bulls are back. I do see the GBP/JPY falling more just a matter of when. By the way the price has moved and the corrections have come I assume that a break on 141.99 will confirm the new bear market and resume the fall of the GBP/JPY to a new low of 118.81 just have to be patient and wait for it.
This was a last minuted post just about some things I had noticed, just make sure to keep an eye on the news, since either way we have a high chance of making hundreds of pips. I will keep working on it and hope to get feedback from everyone.
Remember to comment on any post or go to the top right of the site and click on the contact link to send me any questions you do not want to write in public. Also stop by the videos section which will be updated regularly starting in 2010.
Thank You,
Gus Forex
by Gus on December 27, 2009
Hey everyone I have been spending time working on the website as you can see and have started to make plans for my next move. I will be working on a new ebook that will cover my 4H breakout strategy which many if not all of you should know by now. But I will also be working on a video course to go along with the ebook and somehting which I ahve been wanting to work on for some time now, which is a weekly forex recap.
The forex weekly recap will be a video posted every Friday or Saturday going over what happened throughout the week and what next week seems to be holding for us. This is what I am planning for the big picture, and hope to make this a one stop place for weekly trading ideas and news. I will be opening a .tv domain to host the movies on and they will all be streaming in full HD.
All these things will be hopefully happening in the new year, since they will take up a lot of my time. I will keep everyone posted on the progress of these projects but I do promise they will keep coming.
Until then I wish everyone a Merry Christmas and a Happy New Year and will be back with more news and live trades in 2010.
Gus Forex
