FX Instructor Live Forex Trading Room Results | 10/01/2007

Mondays are usually slow days, since it takes a bit of time for the technicals to conform, or as we say, the dust to settle down after the weekend openings. Not many trades, though we did have two good ones today.

USD/JPY. We had an excellent Bullish Wolfe Wave on 30 min charts, which was identified by one of our members. We were thinking of going Long on this pair, and the Wolfe Wave only reinforced our confirmation. This trade gave us an excellent profit of about 90 points.

The best part about Wolfe Waves is that the entries, stops, and targets are completely pre-defined.

The second trade we took today is on the GBP/USD, observing a Bearish Divergence on the 4h charts. This was a trade taken step by step by our subscribers. We were targeting about 50 points of profit, but it went beyond our targets, netting about 70 points.

Not a bad start for the week!

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