It was quite an eventful week this week on the markets and it threw up some good trading opportunities. Monday was the best day for me with two trades being triggered.

The first was very early on on the GBP/USD pair. I was a little late getting up on Monday so I didn't get a perfect entry but I was confident that the GBP/USD would be weak this week leading up to a probable interest rate cut so I simply went with the momentum and went short at 1.5248. Thankfully this pair continued to fall nicely during the rest of the day and after closing half for +50, I closed the second half of the position at 1.5144 for around 100 points. This turned out to be too early but I was happy enough with this profit.

The next trade, also on Monday, was on the USD/JPY pair this time. I was looking to go short on this pair as well due to the negative Supertrend indicator on the daily chart, and so I entered a short position when the EMAs crossed strongly downwards on the 4 hour chart. I had to wait until the afternoon for a pullback to get a good entry on the 2 hour chart but managed to do so at 94.13. The price fell nicely here as well but this time I closed the entire position for +40 points because I wasn't so confident about this one.

I was writing this trading update thinking that I wouldn't be trading any more this week, but it looked like the EMAs were about to cross downwards on the 4 hour chart on the EUR/USD pair so using the 2 hour chart to get a good entry, I've just entered a short position at 1.2699 a short while ago. As it's Friday afternoon, I shall be very happy to close out the entire position at around the 1.2650 level.

I will update this post later on to let you know how this position turned out.

UPDATE:

Thankfully my target price was hit this afternoon at 1.2650 for just under 50 points profit. So this rounds off a very profitable week with 3 winners out of 3. Who says forex trading is difficult? 

Anyway there was one other thing that I was planning to tell about before I was distracted by the live trade, and that was how impressed I am by the Marketclub trading service. I've been a member of this site for a few months now, but it's only during the last couple of weeks that I've really had the chance to analyze their automated trading signals more closely.

Their Trade Triangles really do provide you with some excellent trading signals. For example on the GBP/USD pair, the last weekly trade triangle was red so we should only have been looking to go short on the daily chart and as it turned out, there was a new sell signal generated on Monday at 1.5256. As you can see by looking at the current chart this would have yielded some excellent profits, and it's a similar story on other pairs.

For example after a brief rally last week on the EUR/USD pair there was an automatic sell signal generated by Marketclub at 1.2808 on 28/11 which turned out to be profitable, and on the USD/JPY pair there was a sell signal generated at 94.77 on 26/11 which is also well into profit at the present time.

So I can definitely recommend you at least take a look at Marketclub and check out what they have to offer. You can find out more about their automated trading signals and watch various videos showing how these signals work by reading my full Marketclub review, which I've recently completed this week.

Also if you are interested in learning about my main forex trading strategy, you can discover the exact system I use by simply filling in the short form above and subscribing to my newsletter.