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happy trading 


Mr Phil Newton or on LinkedIn Phil Newton trader

FurQuad Snatch | 13 July '10 | Reverse Snatch

Phil Newton's picture

Hi folks,

Several chop zones confirmed at the start of trading on today's session. Several lovely set ups and only one or two false started

Personally I missed a few GJ reversal set ups over lunch as I had an appointment at the hospital. A short and Long missed and on my return was still long so no harm done.

GBPSD

Chop Zone identified overnight trade triggers and entries in the usual way.

Price now in Long trade zone, and transition the remaining portions of the open shorts to the new long trade entry level as well as initiate a new long trade set up. as per FurQuad Reverse Snatch rules

Entry and trade management in the usual way.

Price not yet signalled the end of Chop Zone yet and price continues out of Chop Zone. As already positioned long of theReverse Snatch entry looking for next swing trade targets to be reached.

Third and final swing trade target met. Job Done +150 pips from entry to final exit.

EURJP not working out quite so well before reverting to a trending set up. A quick long Reverse Snatch entry and pretty much on the back of some Euro news out very quickly.

AUDJPY was pretty flat after this trade set up using the Reverse Snatch entry 

...Finally pulling some small pips out of the movements and now in to the Short trade Zone looking to manage open long to a profitable conclusion and initiate a new short trade set up.

GBPJPY providing a lovely Reverse Snatch entry first thing this morning

...Running nicely to the scalper targets.

Eventually running into the short trade zone and developing a new set up. At this point of the chart over the usually lunch period there was a profitable short and long which I missed due to a hospital appointment. Well done all in the Live training Room who went solo on those two trades.

GJ set up and voided a few time before this Reverse Snatch entry held. Locking in +100 on the remaining portion of the open long swing trade and a new short trade entry which is still running at the time of this writing.