The ending week gave no reason for frustration. You should have taken a profit based on at least 9 signals, and a triggered stop should be taken as an unfortunate accident. The loss on it was covered many times in a short time. The simplest Sniper X patterns are used in trading, so none of you should have encountered difficulties.
In honor of the upcoming holiday, the Forex Academy offers free training on the Sniper X strategy. To do this, you just need to open an account with our partner broker, and you will receive a bonus for free training at the Forex Academy.
According to the account itself, no conditions are put forward at all for working off or achieving a certain trade turnover. You just trade, make a profit and use it the way you want.
On the first trading day of the week, we received 2 entry points:
- AUDUSD – purchases were made with a TP of 23 points and a stop at 26 points. The entry point did not work 100%, after reaching the stop, the chart reversed, but did not reach TP. Safe’s rule allowed to take 7 points, and the remainder is closed at breakeven;
- EURNZD – here pattern # 5 worked without any remarks. The entry was predicted at the price rounding and testing of the previously broken support. Stop Loss in the amount of 15 points did not work, the chart immediately after entering the market went in the direction of TP and brought 24 points of profit. If a trailing stop was used, then they could take about 50-60 points, the movement turned out to be quite strong.
Trade on Tuesday
On Tuesday, the only signal received was for copper on the 1-minute chart.
After the entry point for the fifth Sniper X pattern, the movement turned out to be too sluggish to reach the take profit. TP was expected to be equal to 168 points, but in such conditions the worked out Safe rule is not a bad result. So the total for copper is a profit of 56 points at 50% of the volume. The stop was 120 pips when selling.
Environment entry points
In the middle of the week, signals were received for different instruments:
- eBay shares – signal received at the opening of the trading session on Wednesday. For a couple of hours, the chart was marking time and even tried to reach the stop (it is equal to 30 points). Then a reversal took place and, according to the Safe rule, a profit of 11 points was recorded, on Wednesday the second half of the deal was not closed. If the stop was left in place, then on Thursday with difficulty, but still reached TP, it is equal to 34 points. If SL was moved to breakeven, then it would have worked;
- silver – initially they were counting on a take profit of 99 points, the stop on sales was 107 points. Unfortunately, the downward movement was very weak. As in the case of eBay stocks, here it was worth applying the Safe Rule and be content with a profit of 33 points. Then the chart turned around and went up.
Trading Opportunities Formed On Thursday
This was the most profitable day of the week. Entry points were formed for currency pairs, pairs with the British pound worked well:
- GBPAUD – long positions were opened while testing the termination zone from above. At the same time, the stop was equal to 22 points, and the TP was set in the area of the nearest High and it turned out to be equal to 29 points. For some time the chart was directly in the support zone, then an upward movement developed and take profit worked;
- GBPCAD – the situation was 100% copying what happened on GBPAUD, the only differences are in the size of the stop and TP. The risk for long positions was 21 points, and the take profit was 35 points. For about an hour, the schedule could not determine the direction of movement, but then went in the right direction and TP was quickly reached;
- GBPNZD – a buy signal has worked here. TR and SL on the deal were 32 and 23 points, respectively. The figure below shows the first profit taking according to the Safe rule, but later the chart still reached the take profit, so the signal worked out 100%;
- GBPUSD – the pound paired with the US dollar gave an ideal buy entry point when testing the support zone. The earnings when the take profit was triggered was 18 points, while the risk was limited to 14 points. A correctly placed stop loss did not work when the chart moved against purchases.
As you can see, 9 signals worked, in most cases there was no need to wait for several days for working off. It is also convenient that it was possible to enter the market with pending orders. The analytics are published the next day in the evening, so it’s enough to track it and place pending orders in accordance with our recommendations.
As for the analytics itself, it is done using TS Sniper X. Each of you can master it in a couple of months, this is enough to develop the appropriate trading skills.