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Gig Flexi-Hedge System

Gig flexi hedge system is a price behavior analysis strategy that is aggressive for pips. The strategy offers a flexible way of trading currency by making use of major price support and resistance levels in the market whilst not sacrificing discretion. This strategy is flexible and this is necessitated by price behavior in the first  7hours of each trading day. Price behavior in the first7hours of each day presents a variation to be traded for the day, and this also depends on market sentiment prediction for the day. 

Wednesday 21,July2010.

After checking the calendar for major news of the day about the EUR and the USD, I performed my pivot calculations, plotted them on the EURUSD chart and predicted market sentiment for the day by studying price behaviour for the first seven(7) hours of the day.

I realized this day, Wednesday 21,July2010, was a case for gig flexi-hedge system variation 1A.

I placed  trades with the following expectations:

A. Initial Early Morning Channel strategy

@lowerBand of Channel:

1)      Buy Limit : Entry Price   =  1.2874

                                             Profit Target =  1.2906 (@ UpperBand of Channel)

                                             Profit            =    +32pips

2)      Sell Stop :   Entry Price   =   1.2874

                    Profit Target =   1.2806 (@ S1)

                                                         Profit            =    +68pips

           @Upper Band of Channel:

3)      Sell Limit : Entry Price    =  1.2906

                                             Profit Target  =  1.2874 (@ LowerBand of Channel)

                                             Profit             =   +32pips

4)      Buy stop :   Entry Price    =   1.2914  i.e(1.2906+8pips)

                                             Profit Target  =   1.2956 i.e (Midway b/n PP and R1)                                                                                                      

                    Profit              =   +42pips

                                             

B. Pivot level strategy

           

5)      Sell Limit : Entry Price    =  1.2908 i.e (1.2916-8pips)

                                             Profit Target  =  1.2806 (@ S1)

                                             Profit             =   +102pips

6)      Buy stop :   Entry Price    =   1.2924 i.e(1.2916+8pips)

                                             Profit Target  =   1.2956 i.e (Midway b/n PP and R1)                                                                                                      

                    Profit              =   +32pips

C. Appropriate Major S/R level strategy ( S1 Level in This Case)

7)  Sell Stop:    Entry Price    =  1.2806i.e (S1)

                                            Profit Target  =  1.2735   (@ S2+8pips)

                                            Profit             =   +71pips

All of these trades yielded:

     

Total Profits: (+32pips +68pips +102pips +32pips +71pips)     =+305pips

+42pips from Buy Stop @ Upper Band IEMC Strategy and +32pips from Buy Stop Pivot Level Strategy were not recorded as these trades did no get triggered.

The chart below chart1.1 shows the trades as it happened……………………………………

Mkt Sentiment: Bearish 

(A Case For Variation 1a)