Butch Wampler

FOREX TRADES: Several Setups / Non-Farm Warning

Several pairs setup this evening on our swing trading system. Non-Farm Payrolls come out in the morning, so be warned. If you do decide to take any trades this evening make sure you secure you positions before the Non-Farm Release comes out.

AUD/JPY:

Direction = SHORT
Pending Price = 77.41
Stop Price = 78.73
TP1 = 77.10
TP2 = 76.72
TP3 = 76.32

AUD/USD:

Direction = SHORT
Pending Price = 0.8661
Stop Price = 0.8762
TP1 = 0.8623
TP2 = 0.8582
TP3 = 0.8541

USD/JPY:

Direction = SHORT
Pending Price = 89.27
Stop Price = 89.89
TP1 = 88.92
TP2 = 88.54
TP3 = 88.15

EUR/USD and GBP/USD also signaled, but they both hit the order price and the 1st take profit level.

HOW WE TRADE THESE SETUPS:

As long as the pair has not hit TP1, then you can still place a trade. Once a pair has hit TP1, then it is not safe to trade as the pair may reverse directions.
Place a PENDING ORDER at the PENDING PRICE.
Place alarm line at the TP1 (take profit) level.
Once the pair hits the TP1:
1. Close off partial or all lots
2. Stop Option Move 1: Move your stop to BE(break even).
3. Stop Optioin Move 2: Leave your stop on its origional position.
If the pair gets to TP2:
1. Close off partial or all lots remaining.
2. Stop Option Move 1: Move your stop to TP1.
3. Stop Option Move 2: Move your stop to BE.
If the pair gets to TP3: Continue closing off lots and moving stop.

NOTE: My members are using a TRADE EA to place our trades. The EA will place two trades when dropped on the chart. The first trade has the 1st TP level and the 2nd trade has the 2nd or 3rd TP level. This allows us to place the trade and leave it alone. The SET AND FORGET METHOD. We also hold live training events on how to manage your trades as well as your account management.