Sniper Forex System

[ez0770]

Good thinking Kent, well done....I'm still trying to apply the system by the rules but maybe eventually I will start "bending" a few rules occasionally myself.

I think I'm going to follow Crazy Fool's lead and stay out of the market for the rest of the session ahead of the long w/end in the US

 

[forexkunta]

ez0770,
Well, I guess I more than bent the rules. I should have stayed out completely, the NFP is a major impact news event. If I had been on my live acct I would have stayed out. Better to survive today to fight again tomorrow!
Kent

 

[FormulaOneFan]

guys,

this is my understanding and if someone can clarify this that would be great. Its forex basics basically.

The NFP news is considered good news for US (atleast it is not bad news)

So naturally people buy USD and USD goes up.

So in case of GBP/USD they sell the base currency and that means GBP/USD shorts. Is my understanding correct?

 

[forexkunta]

By my wave count with EW, we are in a 3rd wave up on both pairs, and this news announcement should be a catalyst to drive the pair up very quickly, which would be a characteristic of 3rd waves. If this wave is extending, then this could be the beginning of a 3rd of a 3rd, which would really be good for us. But I could be wrong. WE will see.
Kent

It is looking like the above wave count was wrong. That release threw both pairs into wave 2, so we should now be looking to go into wave 3. Based on this revised wave count I have already gone long on both pairs, just to see what happens, on demo of course.
And both trades are in profit at the present time.
Kent

 

[fx_eagle]

long weekend

yep everyone a nice long weekend

will be start at tuesday again

:cheers:

 

[poisonivy0]

stop hit :| on eurusd

 

[forexkunta]

Look at cable go. Looks like a rocket. damn glad I'm in it.

 

[ougoah]

Kent, how did you decide to move in on cable? Sniper B is still red for me.

 

[trendie]

Look at cable go. Looks like a rocket. damn glad I'm in it.

out of curiosity, which TF did you take that trade on? and if not being nosey, what price?
I can see the upmove, and a slight pullback around 1.63320, but it happened slap bang where the news happened, so could have gone either way.

didnt trade anything after 1-pm on Friday, as per my new "don't be a div" rules.

 

[new2fx]

looks like US is getting weaker against all other currencies.

US/CAN fell more 150 pips today. sniper gave short signal at 10gmt entry 1.1006

 

[forexkunta]

out of curiosity, which TF did you take that trade on? and if not being nosey, what price?
I can see the upmove, and a slight pullback around 1.63320, but it happened slap bang where the news happened, so could have gone either way.

didnt trade anything after 1-pm on Friday, as per my new "don't be a div" rules.

I went into this based on Elliot Wave theory. After the news announcement I realized that it spurred the end of wave 1 of 3, completed wave 2 of 3and wave 3 of 3 was about to begin. I went in on long on cable at 1.6312 and long on guppy at 151.38. If you look at a line chart on these pairs, I managed to go in at almost the exact bottom of wave 2. Just got lucky. I also pyramided in a couple more trades as it started climbing. At the moment I am up 315 pips on all trades.

I have also decided that I will only trade Sniper on the 1hr TF in the future.

Kent

 

[forexkunta]

Trendie,
Since Sniper was already showing a long trade, there was no alerts given, and both histograms turned blue within the last 20 minutes, so sniper triggers would have missed most of this. However, we still have part of wave 3 and wave 5 to go on this move.
Kent

 

[trendie]

kudos to you for understanding and using E-Waves.
seems like you have a great end to weekend.
enjoy your weekends, all.

 

[forexkunta]

kudos to you for understanding and using E-Waves.
seems like you have a great end to weekend.
enjoy your weekends, all.

Thanks Trendie,
I am just getting started on E-wave theory, have only been studying since about the middle of june 09. Has taken a while to sink in. Just had to keep reading and looking at charts. One day the wave formations just seemed to jump out and slap me upside the head.
You also have a good weekend.
Kent

 

[forexkunta]

Something else I have noticed. When a pair is in a trend, and a major news announcement comes out, the markets get a little crazy for a couple of hours. But they almost always settledown and resume the overall trend. Just takes a little while. So what that tells me is this, and it is based on EW theory, and also confirms it:
News does not drive the market. It may produce short term spikes, but emotions still remain the same, and the overall trend continues.
Kent

 

[forexkunta]

Just closed 130 pips on cable and 110 pips on guppy. 3 trades in all, left 1 on each running. Will see what the weekend brings.

 

[chilltrader]

I wanted to buy the sniper system but just saw an unread email in my junk folder from 3 days ago which says "only 10 copies left"... have I missed the boat?

 

[forexkunta]

I wanted to buy the sniper system but just saw an unread email in my junk folder from 3 days ago which says "only 10 copies left"... have I missed the boat?

No, I doubt it. Go to Sniper Forex - Home Page and Gary will fix you up.
Kent

 

[forexkunta]

Hey all,
Just wanted to update on that crazy elliott wave trade i took after the nfp release this morning. I closed out 4 of the positions with 303 pips profit. Still have an open trade on guppy sitting at 67 pips through the weekend. What a trade! Hope everyone has a good weekend.
Kent

 

[forexkunta]

Hello?