EUR / JPY
Target Hit.
Chart below
Regards
Wednesday, December 12, 2012
EUR / JPY Update: Wednesday 12th December 2012 17:30hrs
EUR / JPY
Price has continued to make its way to the target of 108.80.
Today's high is 108.64 that is a profit in excess of 4%.
With the latest round of QE from the US I expect the target will be hit this evening
As you can see the Stochastic has remained overbought for the past 24hours, meaning that there has been no pullback, allowing a good risk reward entry.
If I had just jumped in at the market price of 107.05 the stop loss would have been 65 pips meaning a move of 325 pips would be required to make 5%
I was close, but no cigar on this occasion.
Chart below
I will update again when the next strategy trade has been identified
Have a good evening
Regards
Price has continued to make its way to the target of 108.80.
Today's high is 108.64 that is a profit in excess of 4%.
With the latest round of QE from the US I expect the target will be hit this evening
As you can see the Stochastic has remained overbought for the past 24hours, meaning that there has been no pullback, allowing a good risk reward entry.
If I had just jumped in at the market price of 107.05 the stop loss would have been 65 pips meaning a move of 325 pips would be required to make 5%
I was close, but no cigar on this occasion.
Chart below
I will update again when the next strategy trade has been identified
Have a good evening
Regards
EUR / JPY & EUR / USD Update: Wednesday 12th December 2012 04:44hrs
EUR / JPY:
I have been unable to secure an entry with a good risk reward ratio.
My first order at 106.90 was missed by 5 pips.
Price has rallied 50 pips with me
I have removed my orders.
Chart below
EUR / USD
My order at was missed by 10 pips.
I have removed my order also
There is a Head & Shoulders pattern forming on the 4 hour chart (as mentioned yesterday)
Should price break back down I will look to play the break of this level,
I will update again when the next strategy trade has been identified
Have a good morning
Regards
I have been unable to secure an entry with a good risk reward ratio.
My first order at 106.90 was missed by 5 pips.
Price has rallied 50 pips with me
I have removed my orders.
Chart below
EUR / USD
My order at was missed by 10 pips.
I have removed my order also
There is a Head & Shoulders pattern forming on the 4 hour chart (as mentioned yesterday)
Should price break back down I will look to play the break of this level,
I will update again when the next strategy trade has been identified
Have a good morning
Regards
Tuesday, December 11, 2012
EUR / USD: Tuesday 11th December 2012 17:35hrs
EUR / USD
EU is in a up trend
Chart below
Price has pulled back to the 50% Fibonacci level. Price has now broken back up creating a Higher High.
Chart below:
Price is now back above the averages and I am looking for a long position with the trend.
Levels and Chart below:
1st Entry: 1.2975
2nd Entry: 1.2960
Averaged Entry: 1.2968
Stop Loss: 1.2935
Target: 1.3135 (5%) and Resistance
PS. if this stops I will look to play the head and shoulders pattern back down through the neck line at 1.2875
I will update again if and when the trade is triggered.
Regards
EU is in a up trend
Chart below
Price has pulled back to the 50% Fibonacci level. Price has now broken back up creating a Higher High.
Chart below:
Price is now back above the averages and I am looking for a long position with the trend.
Levels and Chart below:
1st Entry: 1.2975
2nd Entry: 1.2960
Averaged Entry: 1.2968
Stop Loss: 1.2935
Target: 1.3135 (5%) and Resistance
PS. if this stops I will look to play the head and shoulders pattern back down through the neck line at 1.2875
I will update again if and when the trade is triggered.
Regards
EUR / JPY: Tuesday 11th December 2012 14:57hrs
EUR / JPY
EJ is in an up trend
Chart below
Price has recently pulled back allowing for opportunities to get long with the trend.
Following the recent Higher High I am looking for a small pull back to allow me to enter with good risk reward.
Levels and chart below:
1st Entry: 106.90
2nd Entry: 106.70
Averaged Entry: 106.80
Stop Loss: 106.40
Target: 108.80 (5%)
I will update again should the trade be triggered
Regards
EJ is in an up trend
Chart below
Price has recently pulled back allowing for opportunities to get long with the trend.
Following the recent Higher High I am looking for a small pull back to allow me to enter with good risk reward.
Levels and chart below:
1st Entry: 106.90
2nd Entry: 106.70
Averaged Entry: 106.80
Stop Loss: 106.40
Target: 108.80 (5%)
I will update again should the trade be triggered
Regards
Friday, December 07, 2012
Cable Update: Friday 7th December 2012 10:14hrs
Cable
Price action is limited ahead of NFP
I have decided to remove my order for now and see what the chart looks like after NFP
Chart below
I will update again when the next strategy trade has been identified
Regards
Price action is limited ahead of NFP
I have decided to remove my order for now and see what the chart looks like after NFP
Chart below
I will update again when the next strategy trade has been identified
Regards
Cable Update: Friday 7th December 2012 04:46hrs
Cable:
Price action has been rather flat over night and the orders I placed have not been triggered
The levels remain valid, I just need to be patient and wait for price to fall into my trap.
Chart below:
There is news out today in the form of US Non Farm Payrolls.
Price action tends to be slow in the run up to this data.
I would like to be in the position and with the stop at break even before then.
I will update again around 10:30 this morning.
Have a good morning
Price action has been rather flat over night and the orders I placed have not been triggered
The levels remain valid, I just need to be patient and wait for price to fall into my trap.
Chart below:
There is news out today in the form of US Non Farm Payrolls.
Price action tends to be slow in the run up to this data.
I would like to be in the position and with the stop at break even before then.
I will update again around 10:30 this morning.
Have a good morning
Thursday, December 06, 2012
GBP / USD: Thursday 6th December 2012 20:03hrs
GBP / USD:
Cable has a clear double top at 1.6300.
Chart below
Price has moved away from the resistance level, and pulled back the 61.8% Fibonacci Level.
Chart below
There is further resistance at this level in the form of a double top on the 6o minute chart.
On the back of today news from Europe, a wave of USD strength is in the market.
After forcing price through the averages I am look for a short entry on a pull back.
Levels and chart below:
1st entry: 1.6070
2nd entry: 1.6080
Averaged entry: 1.6075
Stop Loss: 1.6105
Target: 1.5925 (5%)
I will update again if and when the trade is triggered.
Have a good evening
Regards
Cable has a clear double top at 1.6300.
Chart below
Price has moved away from the resistance level, and pulled back the 61.8% Fibonacci Level.
Chart below
There is further resistance at this level in the form of a double top on the 6o minute chart.
On the back of today news from Europe, a wave of USD strength is in the market.
After forcing price through the averages I am look for a short entry on a pull back.
Levels and chart below:
1st entry: 1.6070
2nd entry: 1.6080
Averaged entry: 1.6075
Stop Loss: 1.6105
Target: 1.5925 (5%)
I will update again if and when the trade is triggered.
Have a good evening
Regards
Friday, November 30, 2012
Cable Update: Friday 30th November 2012 17:51hrs
Cable: Friday 30th November 2012 14:10hrs
GBP / USD
Cable is in a decending channel.
Chart below:
Price has retraced to the 61.8% Fibonacci level of the previou moved down and the top of the decending channel at 1.6050.
Chart below:
This afternoon price has broken down through the short term averages and I am looking for a short entry as shown below.
Levels and chart below:
1st Entry: 1.6020
2nd Entry: 1.6030
Averaged entry: 1.6025
Stop Loss: 1.6060
Target: 1.5850
I will update again if the trade is triggered.
Regards
Cable is in a decending channel.
Chart below:
Price has retraced to the 61.8% Fibonacci level of the previou moved down and the top of the decending channel at 1.6050.
Chart below:
This afternoon price has broken down through the short term averages and I am looking for a short entry as shown below.
Levels and chart below:
1st Entry: 1.6020
2nd Entry: 1.6030
Averaged entry: 1.6025
Stop Loss: 1.6060
Target: 1.5850
I will update again if the trade is triggered.
Regards
Thursday, November 29, 2012
EUR / AUD Update: Thursday 29th Novemeber 2012 04:46hrs
EUR / AUD
Price has reversed overnight.
With EUR strength across all the instruments, I have been stopped for a profit of 0.5%.
Chart below
I will update again when the next strategy trade has been identified
Regards
Price has reversed overnight.
With EUR strength across all the instruments, I have been stopped for a profit of 0.5%.
Chart below
I will update again when the next strategy trade has been identified
Regards
Wednesday, November 28, 2012
EUR / AUD Update: Wednesday 28th November 2012 19:29hrs
EUR / AUD
Price is slowly making its way down towards the target.
The position is in profit by 1.8% at the time of writing.
Chart below:
The spread is large on this pair at 8 pips, therefore it makes it a little more difficult to push the stop down.
I have moved the stop to 1.2365 locking in 0.5% profit.
I will update again tomorrow morning, when I hope to be in a position to move the stop down a little further.
Have a pleasant evening
Regards
Price is slowly making its way down towards the target.
The position is in profit by 1.8% at the time of writing.
Chart below:
The spread is large on this pair at 8 pips, therefore it makes it a little more difficult to push the stop down.
I have moved the stop to 1.2365 locking in 0.5% profit.
I will update again tomorrow morning, when I hope to be in a position to move the stop down a little further.
Have a pleasant evening
Regards
EUR / AUD Update: Wednesday 28th November 2012 04:35hrs
EUR / AUD
The trade has been triggered over night and price is starting its move back down towards the first support level at 1.2350.
I am short 1% as both orders were triggered
Chart below:
I have move the stop loss on the 2nd entry (1.2385) to break even.
Therefore, I still have risk of 0.5% on the position at the time of writing. (04:41hrs)
I will update again later this morning
Have a great day
Best reggards
The trade has been triggered over night and price is starting its move back down towards the first support level at 1.2350.
I am short 1% as both orders were triggered
Chart below:
I have move the stop loss on the 2nd entry (1.2385) to break even.
Therefore, I still have risk of 0.5% on the position at the time of writing. (04:41hrs)
I will update again later this morning
Have a great day
Best reggards
Tuesday, November 27, 2012
EUR / AUD: Tuesday 27th November 2012 13:21hrs
EUR / AUD
This pair is in a medium term down trend.
Chart below:
Price has pulled back to the 38.2% Fibonacci level and has been unable to break through the resistance level at 1.2400
The averages have crossed to the down side and price has broken through the Weekly Central Pivot point.
I am looking for a short entry as detailed below
Levels and Chart below
1st Entry: 1.2380
2nd Entry: 1.2385
Averaged Entry: 1.23825
Stop Loss: 1.2410
1st Target: 1.2244 (5%)
2nd Target: 1.2175
I will update again should the trade be triggered.
Regards
This pair is in a medium term down trend.
Chart below:
Price has pulled back to the 38.2% Fibonacci level and has been unable to break through the resistance level at 1.2400
The averages have crossed to the down side and price has broken through the Weekly Central Pivot point.
I am looking for a short entry as detailed below
Levels and Chart below
1st Entry: 1.2380
2nd Entry: 1.2385
Averaged Entry: 1.23825
Stop Loss: 1.2410
1st Target: 1.2244 (5%)
2nd Target: 1.2175
I will update again should the trade be triggered.
Regards
Tuesday, November 20, 2012
AUD / JPY: 4% Profit has been banked
AUD / JPY
To Confirm, My Stop has been hit at 84.55 for a profit of 4%
I will update again when the next strategy trade has been identified
Have a great evening
To Confirm, My Stop has been hit at 84.55 for a profit of 4%
I will update again when the next strategy trade has been identified
Have a great evening
AUD / JPY UPDATE: Tuesday 20th November 2012 14:28hrs
AUD / JPY
Price has attempted to break the high from last night at 84.78 and has just not been able to make the move. Price is currently 84.63
Price action is slow and I have decided to push the stop loss up to 84.55 locking in 4% profit.
I have adjusted my limit order to 85.75 (7.4)
Should price make the move up I am happy to hold to the second target of 85.75
If price breaks back down, I have squeezed as much out of the position as I could.
Chart below:
Price has attempted to break the high from last night at 84.78 and has just not been able to make the move. Price is currently 84.63
Price action is slow and I have decided to push the stop loss up to 84.55 locking in 4% profit.
I have adjusted my limit order to 85.75 (7.4)
Should price make the move up I am happy to hold to the second target of 85.75
If price breaks back down, I have squeezed as much out of the position as I could.
Chart below:
I will update again when the next strategy trade has been identified.
Best Regards
AUD / JPY Update: Tuesday 20th November 2012 04:44hrs
AUD / JPY
There has been another high put in and price has been to within 19 pips of the target.
Currently price has pulled back a little to 84.56
This is 4% in profit at market.
I can not move the stop any higher at this point and I am happy to hold for the position to develop.
I will be stopped for a profit of 3% or Limited out for 5%.
Happy to Hold!!
Chart below
I will update again when the next strategy trade has been identified.
Regards
There has been another high put in and price has been to within 19 pips of the target.
Currently price has pulled back a little to 84.56
This is 4% in profit at market.
I can not move the stop any higher at this point and I am happy to hold for the position to develop.
I will be stopped for a profit of 3% or Limited out for 5%.
Happy to Hold!!
Chart below
I will update again when the next strategy trade has been identified.
Regards
Monday, November 19, 2012
AUD / JPY Update: Monday 19th November 2012 17:09hrs
AUD / JPY
Price has made another new high and is within 40 pips of the target of 84.95.
The position is in profit by 4% at the time of writing.
Chart below:
As I mentioned this morning there is news out for AUD and JPY overnight tonight.
I have therefore moved the stop loss to 84.18.
This has locked in 3% minimum profit on this position
My target remains at 84.95 for 5%
Have a good evening
Regards
Price has made another new high and is within 40 pips of the target of 84.95.
The position is in profit by 4% at the time of writing.
Chart below:
As I mentioned this morning there is news out for AUD and JPY overnight tonight.
I have therefore moved the stop loss to 84.18.
This has locked in 3% minimum profit on this position
My target remains at 84.95 for 5%
Have a good evening
Regards
AUD / JPY Update: Monday 19th November 2012 04:45hrs
AUD / JPY:
Price has broken through the resistance level of 84.15.
Chart below:
I would hope to see price make its move to wards the 5% target of 84.95 within the next 24hours.
There is good news for this pair over the next 24hours.
News Below:
Lets hope the news provides continued weak JPY to drive the position to the target.
I have moved the stop to 83.80 locking in a minimum profit of 2%.
Chart below:
Price has broken through the resistance level of 84.15.
Chart below:
I would hope to see price make its move to wards the 5% target of 84.95 within the next 24hours.
There is good news for this pair over the next 24hours.
News Below:
Lets hope the news provides continued weak JPY to drive the position to the target.
I have moved the stop to 83.80 locking in a minimum profit of 2%.
Chart below:
I will update again when the next strategy trade has been identified.
Have a great week!
Best Regards
Friday, November 16, 2012
AUD / JPY Update: Friday 16th November 2012 20:22hrs
AUD / JPY
Price remains supported and is banging its head on the resistance level I have spoken about previously (84.15)
Chart below:
I have moved the stop loss to 83.57 locking in 1.4%
I will hold the position over the weekend in the hope that the resistance level is broken and the 5% target is hit next week.
Hope you all have a great weekend.
Best Regards
Price remains supported and is banging its head on the resistance level I have spoken about previously (84.15)
Chart below:
I have moved the stop loss to 83.57 locking in 1.4%
I will hold the position over the weekend in the hope that the resistance level is broken and the 5% target is hit next week.
Hope you all have a great weekend.
Best Regards
AUD / JPY Update: Friday 16th November 2012 04:54hrs
AUD / JPY
Little has changed since my last post.
Price remains supported and at the top of yesterdays move up.
We still need the to break the resistance at 94.15, before make a final move to the target level of 94.95
Chart below:
There is no further AUD or JPY news out this week, so I am hoping the equity indices will help me out by making a move, dragging this position with it. I will use the averages to trail the stop loss higher.
The stop is now at 83.30. Locking in 1% profit
I will update again this evening or before if the next strategy trade is identified.
Regards
Little has changed since my last post.
Price remains supported and at the top of yesterdays move up.
We still need the to break the resistance at 94.15, before make a final move to the target level of 94.95
Chart below:
There is no further AUD or JPY news out this week, so I am hoping the equity indices will help me out by making a move, dragging this position with it. I will use the averages to trail the stop loss higher.
The stop is now at 83.30. Locking in 1% profit
I will update again this evening or before if the next strategy trade is identified.
Regards
Thursday, November 15, 2012
AUD / JPY Update: Thursday 15th November 2012 18:52hrs
AUD / JPY
Price has remained supported throughout the day.
Yesterdays high has been taken out and the position is in profit by 2.5% at the time of writing.
Price needs to make a new high through 84.15 before making its way up to 84.95 our 5% target.
If and when price gets to the 5% target, I may consider holding the position. There is nothing on the chart that is saying price will be rejected at this level (94.95) so it would make sense to hold for as long as is possible. However we need to break up through 84.15 first.
Chart below:
I have moved the stop loss to 83.25, however I will review this and may move it higher to lock in more profit before the end of the day.
Have a good evening
Regards
Price has remained supported throughout the day.
Yesterdays high has been taken out and the position is in profit by 2.5% at the time of writing.
Price needs to make a new high through 84.15 before making its way up to 84.95 our 5% target.
If and when price gets to the 5% target, I may consider holding the position. There is nothing on the chart that is saying price will be rejected at this level (94.95) so it would make sense to hold for as long as is possible. However we need to break up through 84.15 first.
Chart below:
I have moved the stop loss to 83.25, however I will review this and may move it higher to lock in more profit before the end of the day.
Have a good evening
Regards
AUD / JPY Update: Thursday 15th November 2012 04:43hrs
AUD / JPY:
The trade has been triggered I am long from 83.15 and 83.00 with a total position size of 1%
Price has made it's move back up to yesterdays high.
I have moved the stop loss to break even, to eliminate the risk on this position.
Chart below:
The position is in profit by 1.6% at the time of writing.
My target is in place at 84.95 for 5%, however I will look to lock in profit as the trade develops over the next 24hrs.
I will update again on this position at the end of the day.
In the mean time I am looking for the next strategy trade and will post again when it has been identified.
Regards
The trade has been triggered I am long from 83.15 and 83.00 with a total position size of 1%
Price has made it's move back up to yesterdays high.
I have moved the stop loss to break even, to eliminate the risk on this position.
Chart below:
The position is in profit by 1.6% at the time of writing.
My target is in place at 84.95 for 5%, however I will look to lock in profit as the trade develops over the next 24hrs.
I will update again on this position at the end of the day.
In the mean time I am looking for the next strategy trade and will post again when it has been identified.
Regards
Wednesday, November 14, 2012
AUD / JPY: Wednesday 14th November 2012 12:04hrs
AUD / JPY:
AUD / JPY has been trending up since may 2012.
Price has been trapped in a range at the top third of the last move up.
Chart below:
Price has recently broken out of the range.
Price has now produced a double bottom at 82.00.
Chart below:
Price has now broken up through the averages and I am looking for a long entry as shown below.
1st Entry: 83.15
2nd Entry: 83.00
Averaged Entry: 83.075
Stop Loss: 82.70
1st Target: 84.95 (5%)
2nd Target: 85.60 (6.6%)
Chart below:
I will update again should the trade be triggered
Regards
AUD / JPY has been trending up since may 2012.
Price has been trapped in a range at the top third of the last move up.
Chart below:
Price has recently broken out of the range.
Price has now produced a double bottom at 82.00.
Chart below:
Price has now broken up through the averages and I am looking for a long entry as shown below.
1st Entry: 83.15
2nd Entry: 83.00
Averaged Entry: 83.075
Stop Loss: 82.70
1st Target: 84.95 (5%)
2nd Target: 85.60 (6.6%)
Chart below:
I will update again should the trade be triggered
Regards
Tuesday, November 13, 2012
Cable Update: Tuesday 13th November 2012 15:00hrs
Cable:
Price has not held below the 60 minutes 20 ema and I have closed the trade for a small loss of 0.25%
Chart below:
I will update again when the next trade is identified.
Regards
Price has not held below the 60 minutes 20 ema and I have closed the trade for a small loss of 0.25%
Chart below:
I will update again when the next trade is identified.
Regards
Cable Update: Tuesday 13th November 2012 14:41hrs
Cable:
If price doesn't make the move down and it breaks the 60 minute 20ema to the upside, I don't want to be short. Therefore I have moved the stopped down to remove half the risk.
I am still short with 0.25% risk.
The stop loss is at 1.5885.
Chart below:
I will update again later this afternoon
Regards
If price doesn't make the move down and it breaks the 60 minute 20ema to the upside, I don't want to be short. Therefore I have moved the stopped down to remove half the risk.
I am still short with 0.25% risk.
The stop loss is at 1.5885.
Chart below:
I will update again later this afternoon
Regards
Cable: Tuesday 13th Novemeber 2012 14:18hrs
Cable:
The pair is in a down trend
Chart below:
I am looking for short trading opertunities.
On the short term charts price has broken down and I am short 0.5% from 1.5872
I am looking for price to make a new low to enable me to remove the risk from this position.
Chart below:
The pair is in a down trend
Chart below:
I am looking for short trading opertunities.
On the short term charts price has broken down and I am short 0.5% from 1.5872
I am looking for price to make a new low to enable me to remove the risk from this position.
Chart below:
I will update again later this afternoon
Regards
Monday, November 12, 2012
Silver: Monday 12th November 2012 14:26hrs
Silver:
Silver is in a mid term down trend.
Chart below:
Price has had trouble breaking higher through 32.75. There is a decent resistance level here showing that price may wish to continue down.
Chart below
Silver is in a mid term down trend.
Chart below:
Price has had trouble breaking higher through 32.75. There is a decent resistance level here showing that price may wish to continue down.
Chart below
Should price break down below the Central Weekly Pivot point, creating a new low on the short term charts. I will look to enter short.
Chart below.
There is a US bank holiday today and price action is limited so this could be later this evening or tomorrow.
I will update again if and when price makes its move.
Regards
Wednesday, October 24, 2012
EUR / USD Update: Wednesday 24th October 2012 11:43hrs
EUR / USD
Price has made it return to the resistance level as expected.
My order was at 1.3000. The high of the pull back was at 1.29967.
Price has now made a 70 pip move without picking up my first order.
I have missed this trade by 3.7 pips.
I have removed my orders.
Chart below:
I will update again when the next trade has been identified.
BUGGER!!!!!!!
Price has made it return to the resistance level as expected.
My order was at 1.3000. The high of the pull back was at 1.29967.
Price has now made a 70 pip move without picking up my first order.
I have missed this trade by 3.7 pips.
I have removed my orders.
Chart below:
I will update again when the next trade has been identified.
BUGGER!!!!!!!
Tuesday, October 23, 2012
EUR / USD Update: Tuesday 2rd October 2012 14:24hrs
EUR / USD.
The USD dollar has remained strong and push EU lower.
With out a decent pull back the risk reward is not acceptable.
I have revised my order levels as shoen below.
Levels and chart below:
1st Entry: 1.3000
2nd Entry: 1.3020
Averaged Entry: 1.3010
Stop Loss: 1.3060
Target: 1.2760 (5%)
I will update again later this afternoon evening.
Regards
The USD dollar has remained strong and push EU lower.
With out a decent pull back the risk reward is not acceptable.
I have revised my order levels as shoen below.
Levels and chart below:
1st Entry: 1.3000
2nd Entry: 1.3020
Averaged Entry: 1.3010
Stop Loss: 1.3060
Target: 1.2760 (5%)
I will update again later this afternoon evening.
Regards
EUR / USD: Tuesday 23rd October 2012 12:36hrs
EUR / USD
EUR / USD is in a long term down trend. Price has retraced to the 38.2% Fibonacci level.
Chart below:
At the 38.2 Fibonacci retracement level price has formed a Double Top at 1.3150
Chart below:
Price has now broken down through the averages and pivot points allowing a short position to be considered.
My entry Levels and chart are below.
1st Entry: 1.3040
2nd Entry: 1.3050
Averaged Entry: 1.3045
Stop Loss: 1.3070
1st Target: 1.2920 (5%)
2nd Target: 1.2860 (7.4%) Fibonacci extension level
Chart below:
I will update again should the trade be triggered.
Regards
EUR / USD is in a long term down trend. Price has retraced to the 38.2% Fibonacci level.
Chart below:
At the 38.2 Fibonacci retracement level price has formed a Double Top at 1.3150
Chart below:
Price has now broken down through the averages and pivot points allowing a short position to be considered.
My entry Levels and chart are below.
1st Entry: 1.3040
2nd Entry: 1.3050
Averaged Entry: 1.3045
Stop Loss: 1.3070
1st Target: 1.2920 (5%)
2nd Target: 1.2860 (7.4%) Fibonacci extension level
Chart below:
I will update again should the trade be triggered.
Regards
Friday, October 19, 2012
Cable Update: Friday 19th october 2012 17:52
Cable.
Price tried to pull back and came within 20 pips of my first order, however this did not offer a great risk reward.
Price has now made its move down to 1.6000 without me and I have removed my orders.
Chart below:
Price tried to pull back and came within 20 pips of my first order, however this did not offer a great risk reward.
Price has now made its move down to 1.6000 without me and I have removed my orders.
Chart below:
Have a good weekend
I will update again when the next strategy trade has been identified.
Regards
Cable: Friday 19th October 2012 04:41hrs
Cable:
Cable is in a longer term down trend.
Price has retraced back the 50% Fibonacci level and has been going sideways August.
Chart below:
There is a clear resistance level at 1.6300 and a sloping trend line above.
I am looking to enter short.
Chart below:
Cable is in a longer term down trend.
Price has retraced back the 50% Fibonacci level and has been going sideways August.
Chart below:
There is a clear resistance level at 1.6300 and a sloping trend line above.
I am looking to enter short.
Chart below:
Yesterday evening and over night price has made a move down through the averages and the pivot points and a short set up has presented itself.
My levels and chart are below.
1st Entry: 1.6085
2nd Entry: 1.6105
Average Entry: 1.6095
Stop Loss: 1.6125
1st Target: 1.5990 (3% & previous support)
2nd Target: 1.5830 (8.5% & Fibonacci extension level)
I will update again if and when the trade is triggered.
Have a good day.
Regards
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