Winning trades in a crashing market.

[FibMaster]

(Last chance for tomorrow's on-line trading seminar - Click for details. (http://www.fibmarkets.com/pro_seminars/index.html))

The world's financial markets have had extreme moves, both up and down this week. Mostly down, with a few rallies along the way. Anyone I talk to in the street whines about the disaster, and how their retirement plans are damaged. How terrible wall-street is, how the government needs to save them, how the government should have regulated to protect them.

While all this is going on, my subscribers at http://www.dailyforexcharts.com have been enjoying winning trades this week. Not the kind of help you would get from the government, for sure.

I'll post some trades from this week below. Imagine if you were a subscriber, how many pips you could be ahead right now? It's not too late, there is another week coming up, and another after that!

[FibMaster]

Setup;
Watch this video showing the setup, subscribers received this before the big winning trade.
Shows chart resistance, talk about possibility of a downward move. Identifies support that must break for shorting to commence. Up-side and down-side possibilities discussed, but the chart looks bad for the bulls (overhead resistance).
http://www.dailyforexcharts.com/charts/081014_AUDjpy_ht/081014_AUDjpy_ht.html

Next day;
The big move down, excellent winning move. After breaking that support at 69.58 it dropped to 64.63
Think you could have banked some of those pips? This update talks about whether there is the possibility of a continued move down, and how to know when to get out.
http://www.dailyforexcharts.com/charts/081015_AUDJPY_ww/081015_AUDJPY_ww.html

Aftermath;
After the 350 pip down-move, the trade is over. A review of how it went, how the exit was signaled. Discussion of future opportunities in this pair. Watch this subscriber update to learn how you should evaluate charts and manage your exits.
http://www.dailyforexcharts.com/charts/081016_audJPY_tk/081016_audJPY_tk.html
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[FibMaster]

The day before;
If we can break the 69 level we have a shorting zone, we can short lower time-frames, potentially down as far as 64.
A rally is not under consideration for a long trade, because of the overhead resistance levels.
http://www.dailyforexcharts.com/charts/081014_AudUsd_kt/081014_AudUsd_kt.html

The big move;
Support level breaks, good move down, profits for the shorts. It's been a good move, signs of support now, could make it to 64, but a rally on the 60 minute chart may cause an exit. This update discusses the exit strategy, if the chart can't make it any lower.
http://www.dailyforexcharts.com/charts/081015_audUSD_4w/081015_audUSD_4w.html

Recap;
Discussion of the rally which ended the trade, and what the chart may hold for us after this big winning move.
http://www.dailyforexcharts.com/charts/081016_audusd_Tz/081016_audusd_Tz.html
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[FibMaster]

The beginning;
4 hour chart rallies to resistance, and gives us a short trigger. First danger is 53.75, next one 52.70, scalper consider profit taking if support materializes there. Looks like a juicy short trade.
http://www.dailyforexcharts.com/charts/081014_eurCHF_tD/081014_eurCHF_tD.html

The down-trend continues;
After a brief support at the predicted 53.75 level, it drops for huge profits to the short-sellers. 1.51 is still a potential target, but only if we don't get strong support. Discussion of stop-loss placement. Rally to .53 could be short-able for another entry, but the bulls will own the chart if it can sustain above .5350, so no shorting up there.
http://www.dailyforexcharts.com/charts/081015_EURchf_ow/081015_EURchf_ow.html

Profitable exit;
Chart did not make it down to .51, too much buying since the last update. Discussion of exit strategy. Notice how the rally stalled at those predicted resistance levels (.53 and .5350). Discussion of future possibilities, let's see what it looks like on Sunday night..
http://www.dailyforexcharts.com/charts/081016_eurCHF_mS/081016_eurCHF_mS.html
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[FibMaster]

Setup & trigger;
Chart looks ready for a move down, possibly to 1.34 maybe 1.32 area. Let's see how far it wants to go.
http://www.dailyforexcharts.com/charts/081014_EurJpy_9T/081014_EurJpy_9T.html

Trade under way, nearing exit;
Time to start looking for profits, be aware near a support zone, exit if a bounce starts.
http://www.dailyforexcharts.com/charts/081015_eurJPY_Wq/081015_eurJPY_Wq.html

Trade concluded.
It *was* a good time to bank profits. One the 60-minute chart crossed up, the move was done. Additional discussion of some future possibilities.
http://www.dailyforexcharts.com/charts/081016_EurJpy_S0/081016_EurJpy_S0.html
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[FibMaster]

Assessment, setup of potential trade;
Rallies, hits a predicted resistance level. Ready to short? No wait, need to break a little support level. Below 175.50 we're all clear for shorting.
http://www.dailyforexcharts.com/charts/081014_gbpjpy_ta/081014_gbpjpy_ta.html

Next day's chart update, it broke support and slammed down;
Another winning trade for the week. Lots of opportunity to short this chart. Stop shorting if the 60 minute chart rallies...
http://www.dailyforexcharts.com/charts/081015_gbpJPY_w6/081015_gbpJPY_w6.html

Summary.
Learn how to know when to exit, avoid greed. This is how you bank the profits..
http://www.dailyforexcharts.com/charts/081016_GBPJPY_ps/081016_GBPJPY_ps.html
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[FibMaster]

Oct 14th, will we get a decent trade?
Not looking very bearish yes, needs to break 1.74 - if that breaks, might make a move towards 1.68 though there is support near 1.72 too, possible target there.
http://www.dailyforexcharts.com/charts/081014_GBPusd_hw/081014_GBPusd_hw.html

Oct 15th, another winner, why not?
Watch this to see how to enter, the shorting opportunities. Now signs of support, bank those profits!
After that a rally to 1.73 could give us some additional shorts, some predicted resistance there. For lower time-frames only.
http://www.dailyforexcharts.com/charts/081015_GBPUSD_lw/081015_GBPUSD_lw.html

Oct 16th, end of week wrap-up.
Cable has messy consolidation. Conflicted. Best to keep your profits in your account.. Knowing when not to trade is as important as knowing how to trade. Think about that..
http://www.dailyforexcharts.com/charts/081016_gbpUsd_ws/081016_gbpUsd_ws.html

You should be getting these in your email, daily, in advance! Subscribe at http://www.dailyforexcharts.com
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[DojiSan]

Sometimes the fear is so much that traders throws logic and objectivity out the window and replace them with panic. All they see is the falling price and its speed. When panic sets in, they want to get rid of their shares at all cost even at major support! This is the best time to make profit. I was able to capture some pips on eurusd and gbpjpy once it hit my major support level during the asian panic selling thursday evening and was reward graciously. Again make sure you know your support and resistance levels before entering a trade.

http://www.theforexdojo.com/gj-profit.gif

best of luck,
DojiSan
http://www.TheForexDojo.com/