April 2014 Signals Recap

Adam Lemon

We publish Adam’s trading signals daily covering EUR/USD, GBP/USD, and USD/JPY. As they are daily signals which are not updated throughout the day, they are conservative, and as such are frequently not triggered. Adam gives either exact prices at which trades should be taken, or trades which should be taken if confirmed by price action at certain prices.

During the month of April, one of the signals given was triggered, producing an overall profit of 0.37%. Following Adam’s free Forex signals since December 2013 has generated a total profit of 0.92% with a maximum drawdown of 1%. There has not been a single losing month.

Let’s review the signal that was triggered this month.

Signal 1 – EUR/USD 30th April 2014

The signal was given as:

Long Trade 1

• Enter long following confirming bullish price action on the H1 chart following the first touch of the bullish trend line below.

• Put a stop loss 1 pip below the local swing low.

• Adjust the stop loss to break even when the price reaches 1.3817.

• Take off 50% of the position as profit at 1.3831 and leave the remainder of the position to ride.

A news release saw the price fall to make a new weekly low, cross the first trend line and reach to within a pip or so of the lower bullish trend line. The price then reversed bullishly very strongly, taking out a large range established over several days within an hour. The price then broke the high of that hourly bar within the next hour, showing continuing momentum and giving an entry according to the momentum price action rules.

The signal to exit the trade with profit was given the following day at the London open following an early morning spike up.

The trade outcome was a profit of 0.37% from a trade with a total risk of 0.50%.

EURUSD 5514

Total Monthly Profit/Loss

The month ended with a total profit of 0.37%.

There was only one trade, which was a winning trade.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.
Learn more from Adam in his free lessons at FX Academy

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