By: Omar Eltoukhy at goldtrademaster.com
Happy New Year Traders!!
I am SUPER excited today, because of the day I had yesterday. Our members and myself carefully analyzed the markets just like we always do prior to London opening and before the NY open as well. Interestingly enough, we also held 2 webinars yesterday (one in the London Session and one in NY Session) to discuss the potential trading setups. And boy did we get them!! Keep in mind that I didn’t get all the profits that were possible, but more than enough to make me happy for well over a MONTH worth of pips and gains! How long did it take?? FOUR HOURS!! Yes, that’s not a typo. FIVE HUNDRED PIPS IN FOUR HOURS OF TRADING.
I know many people love to long-term trade to make 1000 pips in one month and I respect that very much. But, personally, I am much more impatient, and I hate leaving positions open in the markets for a long time. So, I like to place trades, and get out after a few hours. The reason I bring this up is that all too often, traders try and find the “perfect” single method, but in actuality, there are multiple ways to make money in the market. You should trade in a way that fits your personality, otherwise you won’t be able to keep engaged and enjoy it enough to be patient through the slow times.
Our Triple Threat system did an OUTSTANDING job of identifying the trades, and particularly the take profit areas. 2 out of 3 of my trades went directly to the Triple Threat-identified next major s/r area while the 3rd trade did hit take profit, but I used a recent low, rather than a s/r area because it seemed too far away. So, how exactly did I bag +500 pips in 4 hours?
- Took gold long on the breakout above 1087.00 as discussed in the outlooks and webinars yesterday. It seemed to me that the recent downward movement in gold was merely a pullback after last week’s major breakout of this area. On the breakout above 1087 yesterday, it was a no-brainer for me to take the long and go after the target area from the outlook. This yielded +55 pips out of a possible +75 pips if I was somehow able to know exactly where the maximum the market would move (I’m not psychic).
- Took the DOW short on the breakout of our “Dynafib” area as discussed in the outlooks and webinars yesterday. We know that in our program, when the market gets “flat” within these two dynamic indicators, usually the next breakout will produce at least a decent move. In the case of the DOW yesterday, I was able to target the next area (called a mid-term fib) for a gain of +250 pips out of a possible +400.
- Took the DAX short on the breakout of the 10,000 area as discussed in the outlooks and webinars yesterday. This has been a huge area, and when we saw a signal that also closed below the key level of s/r, I took the trade without hesitation targeting the recent low which yielded a gain of +200 pips out of a possible +260 pips!
So three trades, 4 hours and came up roses!! I wanted to share these results with you because I know many people out there are frustrated by how “slow” the markets can be sometimes, and also to show people there IS trading out there beyond forex. Even if you live in the USA, or virtually ANYWHERE in the world, you CAN trade oil, gold and the global index markets from MT4. If you are interested in learning more about this, please check out http://goldtrademaster.com. You can also contact me directly at Omar@goldtrademaster.com with any questions you might have about our approach or to find out more about what we do over there. We trade forex, gold, oil, and the major global index markets like the FTSE, DAX, DOW, SP500 and NASDAQ not to mention the Nikkei and the Aus200 to name a few more.
Below is the actual outlook from yesterday. Check it out, then take a look at what the markets did later in the day. See for yourself how good trade planning can sometimes result in some big wins without much time being involved. ENJOY!!!
OUTLOOK BY INSTRUMENT from Jan 13, 2016:
GOLD: After taking quite the spill yesterday, we have essentially pulled back to the multiple major s/r area of 1086/1087 which was the “line in the sand” last week for the breakout. We have a good trendline to break for a long, and I will be looking for a signal above 1087 to do so with 1093.75 as my target. If/when we get to that point, we should either be looking for a short rejection from there, or a secondary move above it (or primary break if you want to be more aggressive and it’s strong and clean) for a long. For shorts other than that, I would suggest only attempting those with a good signal that closes under 1082.75.
OIL: Quite volatile yesterday, but settled right back above the 31.25 mid-term fib. My outlook is exactly the same today. First choice would be a pullback higher up followed by a short signal either in standard form or PFT. The alternative trades are a long PFT bounce from 31.25 or a secondary move below this level for a short that also closes under the SCZ.
INDICES: Oh how a day can change things! The FTSE has now gone on the other side of 5937.5 and is setting up to potentially be in either direction today. The easiest choice in my opinion would be a breakout below this mid-term fib that also takes out the trendline while we watch the DAX sell off below 10k again. However, in the current position, the FTSE could set us up with a nice long from pressuring the multiple s/r areas around the mid-term fib. Look for a good long setup to take that trade and target the next mid-term fib. If that does happen though, make sure you are seeing confirmation on other index markets. The DAX has now pulled back to the dynafibs and I will be looking for a short rejection from there that confirms once we get below 10k and the trendline breaks. Alternatively we could see a secondary move above the bullish dynafib for a long. The DOW has become “stuck” in between the dynafibs, and the longer it goes sideways, the more likely a sharp breakout will lead us right to a good trade. When the market gets flat and within those dynafibs, usually the breakout that occurs tends to run a bit. So hopefully we can get that plus confirmation and correlation with other index markets whatever direction in which that happens.
LONDON OUTLOOK VIDEO January 13, 2016
by: Omar Eltoukhy at goldtrademaster.com
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