I’ve only posted one of his signals so far and he did manage an 83 pip profit in EUR/USD, which was quite an achievement with a long position in a falling market.
He is a 100% technical trader who trades mainly off 4 hour charts. A lot of his signals are contrarian as he has a proprietary system which measures severe oversold and overbought conditions. He then looks for entry levels which are confirmed by broader technical analysis on differing time frames. He usually enters with a small position and a wide stop-loss; if his entry levels are confirmed then he increases his position size and tightens his stops. All very commonsensical stuff.
He will buy AUD/JPY at 75.90 with a stop at 75.28, targeting a return to 77.70 at least.
I’ll keep you updated on his progress as much as I can. I luckily cut my USD/JPY and AUD/JPY longs yesterday but I still like the overall trade so I’m joining him in this trade idea, for smalls at least.
