Forex Trade Alert for Tuesday Oct 21, 2008.

Forex market overview.

Still we cannot call bottom or top of any forex currency pairs. Elliott wave is not form either on any currency pairs. None of our forex strategies produced any trade setups lately. Still We going to trade with the trend. We hope soon, We can catch, trend reversals for a good profits, but not yet. Anyway we have a good conditions for our beta strategy #7. We been only trading in our forex demo account, but now we can take some of the trades in our real account, because strategy #7 was producing phenomenal results.
NOTE: please, but please, don’t over trade your account. You can please all the trades, but soon as two or three trades trigger, remove the rest of trades, from your entry orders. It’s very important, not to over trade. Please.

AUD/USD

Produced: Tuesday, October 21, 2008.

(No Long orders.)
Place a sell stop to sell 1 unit if price falls to .6885.
Place a sell stop to sell 1 unit if price falls to .6494.
Green Line Short Exit Strategy: Close all short positions on close if price rises to .6979.

AUD/JPY

Produced: Tuesday, October 21, 2008.

(No Long orders.)
Place a sell stop to sell 1 unit if price falls to 69.85 or lower.
Place a sell stop to sell 1 unit if price falls to 64.68 or lower.
Green Line Short Exit Strategy: Close all short positions on close if price rises to 70.90.

AUD/NZD

Produced: Tuesday, October 21, 2008.

(No Long orders.)
Place a sell stop to sell 1 unit if price falls to 1.0868 or lower.
Opposite Direction Short Exit Strategy: Close all short positions if price rises to 1.1468.

CAD/JPY

Produced: Tuesday, October 21, 2008.

(No Long orders.)
Place a sell stop to sell 1 unit if price falls to 85.18.
Place a sell stop to sell 1 unit if price falls to 84.77.
Place a sell stop to sell 1 unit if price falls to 83.22.
Green Line Short Exit Strategy: Close all short positions on close if price rises to 88.18.

EUR/CAD

Produced: Tuesday, October 21, 2008.

Place a buy stop to buy 1 unit if price rises to 1.6118.
Green Line Long Exit Strategy: Close all long positions on close if price falls to 1.5682.
(No Short orders.)

EUR/JPY

Produced: Tuesday, October 21, 2008.

(No Long orders.)
Place a sell stop to sell 1 unit if price falls to 135.39.
Place a sell stop to sell 1 unit if price falls to 134.79.
Place a sell stop to sell 1 unit if price falls to 133.37.
Opposite Direction Short Exit Strategy: Close all short positions if price rises to 141.74.

EUR/USD

Produced: Tuesday, October 21, 2008.

(No Long orders.)
Place a sell stop to sell 2 units if price falls to 1.3298.
Place a sell stop to sell 1 unit if price falls to 1.3286.
Place a sell stop to sell 1 unit if price falls to 1.3257.
Green Line Short Exit Strategy: Close all short positions on close if price rises to 1.3606.

GBP/USD

Produced: Tuesday, October 21, 2008

Place a buy stop to buy 1 unit if price rises to 1.7632.
Place a sell stop to sell 1 unit if price falls to 1.7125.
Place a sell stop to sell 1 unit if price falls to 1.7102.
Place a sell stop to sell 1 unit if price falls to 1.6774.
Green Line Short Exit Strategy: Close all short positions on close if price rises to 1.7374.

GBP/JPY

Produced: Tuesday, October 21, 2008

Place a buy stop to buy 1 unit if price rises to 181.4 or higher.
Place a sell stop to sell 1 unit if price falls to 174.54 or lower.
Place a sell stop to sell 1 unit if price falls to 173.57 or lower.
Place a sell stop to sell 1 unit if price falls to 170.38 or lower.
Green Line Short Exit Strategy: Close all short positions on close if price rises to 176.39 or higher.

GBP/CHF

Produced: Tuesday, October 21, 2008.

Place a buy stop to buy 1 unit if price rises to 1.9944.
Red Line Long Exit Strategy: Close all long positions on close if close is 1.9763.
Place a sell stop to sell 1 unit if price falls to 1.8859 or lower.
Red Line Short Exit Strategy: Close all short positions on close if price rises to 1.9764.

NZD/USD

Produced: Tuesday, October 21, 2008.

Place a buy stop to buy 1 unit if price rises to .6347 or higher.
Place a sell stop to sell 1 unit if price falls to .6075 or lower.
Place a sell stop to sell 1 unit if price falls to .5783 or lower.
Green Line Short Exit Strategy: Close all short positions on close if price rises to .6183.

USD/CAD

Produced: Tuesday, October 21, 2008.

Place a buy stop to buy 1 unit if price rises to 1.1993.
Green Line Long Exit Strategy: Close all long positions on close if price falls to 1.1533.
(No Short orders.)

USD/CHF

Produced: Tuesday, October 21, 2008.

Place a buy stop to buy 1 unit on close if close is 1.1509.
Place a buy stop to buy 1 unit if price rises to 1.1523.
Green Line Long Exit Strategy: Close all long positions on close if price falls to 1.132.
Place a sell stop to sell 1 unit if price falls to 1.1126.
Green Line Short Exit Strategy: Close all short positions on close if price rises to 1.1487.

USD/JPY

Produced: Tuesday, October 21, 2008.

Place a buy stop to buy 1 unit if price rises to 103.07.
Place a sell stop to sell 1 unit if price falls to 99.25.
Red Line Short Exit Strategy: Close all short positions on close if price rises to 102.70.

Important Notice

When trading it is important to know your risks. If you have only been trading for a short time it is highly recommended that you start with a demo account first. Forex trading is highly risky and normally it takes 3 – 5 years to become a successful forex trader. Only risk that which you can easily afford to lose. Forex trading is not a get rich quick scheme, but if managed carefully, it is an excellent investment.

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