Home > Short term trades > Forex Signal #4 – Monarch system UPDATE (+190 pips Max)

Forex Signal #4 – Monarch system UPDATE (+190 pips Max)

November 20th, 2009, 10:21 am2009-11-19T21:21:05ZF jS, Y, g:i a Arco Leave a comment Go to comments

As well as achieving its set and forget target of +50 pips, the GBP.JPY extended Monarch trade gave a maximum of +190 pips for active traders (or even +79 using a 50 pips trailing stop on a half balance). Maximum reached was 147.32 slightly surpassing my ‘other potential target’ area  147.70/148.00

None of these pips are added to the monthly running total display

Reminder of the  order I gave on Monday

Short 149.22
Stop 149.72
Target 148.72

Other potential target 147.70 – 148.00

Please cancel the long order given at the same time, we will re-issue new orders either today or Monday.

112009 monarch

Categories: Short term trades Tags: ,
  1. Alan
    November 20th, 20092009-11-19T21:35:49ZF jS, Y at 10:352009-11-19T21:35:49ZH:i | #1
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    Hello,

    Are you looking to go short again on a retrace?
    Maybe a Ts / Ks bounce.

    • Arco
      November 20th, 20092009-11-19T21:41:01ZF jS, Y at 10:412009-11-19T21:41:01ZH:i | #2
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      Hi Allan. The Monarch system is not Ichimoku based and works on entirely different charting system. However, it would be worth having a look to judge the position once a retracement completes, but any new Monarch signal will not be based on that.

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