We recently outlined a simple free system to help you make big profits and here is the proof of its potential:
A great profit in the B Pound banked and now an even bigger one in the Yen.
Here we will look at the Yen?s potential and the open position in the B Pound.
The beauty of this system is its simple, easy to understand, makes big profits and we have given it to you for free.
The Yen a Text Book Set up
Pull up the chart of the Yen and you will isolated the 114 level (hit in December) as key support.
Now we wanted to key off this support.
We waited for prices to double bottom above support and then waited to enter by timing our move with the stochastic
The key to this system is to wait for CONFIRMATION.
This was provided by the stochastic indicator crossing with bullish divergence to the upside.
This showed momentum had turned bullish for the dollar and we went long.
Notice also how RSI has turned up to support the move.
Target
Is the middle Bollinger band and if this is achieved that gives us 3 full points profit. If this level gives way the target is the highs.
B Pound
We banked a profit going short B Pound and now were long.
The market has traded tightly since the double bottom and were now seeing a very tight range but would expect this to break up and target the middle Bollinger band, then last weeks highs.
Support and stop is tight at the double bottom.
Simple but effective
This system may seem simple:
Its really using support and resistance, the stochastic to time and Bollinger Bands to provide targets, but it works!
We have proved it to you with live examples.
Practice it
Practice makes perfect with this system.
You need to spot opportunities and then apply the method.
When you do, you will be piling up some great profits with low risk and great profit potential.
It?s FREE
This is a method any trader can use (novice or pro) and we have outlined it fully in other articles, how and why it works and given you some great trade set ups.
Try it and see how you get on with it.
You will soon be seeing and profiting from some great opportunities.