The CommandTRADE Blog

Below is a daily chart of the EUR/USD...

Notice she closed below her 5 day sma (white line)...

100+ pip move today when she trades above the 5 day sma...

Long Rules:

Below you will see a daily chart of the AUDUSD

That line you see on the chart is a 5 day simple moving average...

Notice the previous close was below the 5 day simple moving average...

As soon as she trades above the 5 day simple moving average, the AUDUSD rips...

How to automate this simple 5 Day SMA play:

Long Rules: Previous close below 5 Day SMA, LAST trade above 5 day sma

Thanks,

Derek Siek...

Long Rules:

LAST<.0010+L1... The last trade is 10 pips from the intraday low

G1, G3, G5... The 1 minute is GREEN, The 3 Minute is GREEN, The 5 Minute is GREEN

H1>=.0050+L1... There has been at least a 50 pip trading range (the intraday high is at least 50 pips from the intraday low)

Short Rules:

LAST>-.0010+H1... The last trade is within 10 pips from the intraday high

R1, R3, R5... The 1, 3, 5 intervals are RED

H1>=.0050+L1... The intraday high is at least 50 pips greater then the intraday low (at least a 50 pip trading range on the day)

Exit rules:

Notice the stop is 12 pips...

If I short within 10 pips of the intraday high and my stop is 12 pips, I am stopped out on New highs...

Should I adjust the target to 24 pips, I can be wrong twice as often as I'm right and still break even...

Cute...

Derek Siek...

The EUR/USD held close to lows for most of the day after the pair failed to hit new 2009 highs overnight. This failure may weigh on the pair and I would look for a move towards 1.4050 to 1.4100 for support and look to possibly be long. The highs at 1.43 should hold.

Possible Longs Rules:

Possible Short Rules:

The GBP/USD came right to the 1.64 support and bounced. As talked about yesterday, 1.64 will be good support and 1.66 will be good resistance.

Possible Long Rules:

Possible Short Rules:

The USD/JPY got crushed the beginning of the day but eventually recovered after stocks repaired their losses. But the move tday shows how weak and sensitive the USD/JPY is to any negative move in stocks. We should think about this moving forward…tonight, 94.00 will be support, 95.40 is resistance.

Possible Long Rules:

Possible Short Rules

Thanks,

Derek Siek...

From Blake's Forex Wrap

EUR/USD:

EUR/USD found a ton of support at 1.42 today. But below 1.4200 will find more support near 1.4150 which I think would be a good area to be long if possible. Resistance will come in at the 2009 highs at 1.4340.

Possible Long Rules:

Possible Short Rules:

From Blake's Forex Wrap:

GBP/USD:

The GBP/USD has been in a 50 pip range all day (weird)…but taking a step back I am focused more on the 360 minute chart. It looks like the chart is attempting to form a wedge formation, and the top end will be at 1.66 and support down at 1.64. Unfortunately…we are smack dab in the middle at 1.65. I think the top end or lower end will be good areas to play long or short. Sell at 1.66 and buy near 13.64.

Possible Long Rules:

Possible Short Rules:

Good Luck,

Derek Siek...

USDCHF Daily Chart:

USDCHF Potential Support Level around 1.060:

Support defined: The price level in which the security has had difficulty falling below.  It is thought of as a level in which buyers typically step in.

Trading Support: Traders will look to go long around the support level and will look to short should support not hold.

Long Rules: Partner the support level with GREEN LIGHTS

Short Rules: Partner a break of support with RED LIGHTS

Thanks,

Derek Siek...

From Blake's Forex Wrap:

"The EUR/USD managed to push higher today before pulling back. A very volatile session but we treat it the same this evening. Support comes in at today’s low at 1.4150, and resistance will be the 2009 highs at 1.4340. Support is probably a good level to own the pair if possible."

Possible long rules: Partner the support level with GREEN LIGHTS

Possible Short Rules: Partner resistance with RED LIGHTS

From Blake's Forex Wrap:

The GBP/USD was fairly strong all day long after the MPC meeting minutes this morning. The pair traded up towards 1.65 which is at the upper end of its range this month. Resistance will come in at 1.65 and 1.66. Support will be today’s low at 1.6300. Keep in mind though this pair is not making higher highs which is making me think we may be building a triangle formation.

Possible Long Rules: Partner Support with GREEN LIGHTS

Possible Short Rules: Partner resistance with RED LIGHTS

From Blake's Forex Wrap:

The USD/JPY took out support, ran back up to highs, and then eased. This is the pair that really took me for a run today. So between yesterday and today…”the market giveth and then taketh away.” We did manage to post a new low today, so closely watch the 93.00 level for support and 94.00 for resistance.

Possible Long Rules: Partner the support level with GREEN LIGHTS

Possible Short Rules: Partner resistance with RED LIGHTS

Good Luck,

Derek Siek...