Aussie / JPY Update Thursday 31st May 2012 17:18hrs

Aussie / JPY

Price has made a new low and my limit order at 75.75 has NOT been hit.

The low on the chart is 75.732 therefore the order was missed by 3.2 pips. (This is beacuse of the 5 pips spread)

The chart was oversold on all the short term time frames.

Therefore on seeing price bounce just shy of my limit order, I decided to push the stop down to lock in 4% profit (180 pips).

The stop has been hit and I have been taken out of the trade for a profit of 4%.

Chart below

 

I am looking for the next strategy trade and I will update again once it has been identified.

Hope you have a good evening

Best Regards

Aussie / JPY Update Thursday 31st May 2012 06:19hrs

Aussie / JPY

The news last night has helped push the position to a new low of 76.22, this is 47 pips from the target of 5%.

There is more data from Europe this morning and the US later today, in the form of German Unemployment change, ADP Non Farm and US Prelim GDP.

I would expect a pullback at some point before an attempt at a new low.

I have moved the stop loss down to lock in 1% profit.

All that remains is wait for the limit order to be executed at 75.75

Should the target not be achieved today, I will continue to move the stop loss down using a moving average as a guide.

Either the stop will be hit or the target will be achieved.

Chart below

 

I hope you all have a great day.

Best Regards

Aussie / JPY Update Wednesday 30th May 2012 18:45hrs

Aussie / JPY

The position is running nicely and is in profit by 2.8% at the time of writing.

There are Aussie news and JPY news announcements at 02:30hrs & 00.50hrs tonight respectively.

News Calendar below

 

I am hoping that this will help with the final push to the target tomorrow.

The stop will remain at break even over night and I will look to lock in profits tomorrow morning.

Chart below

 

I hope you have a good evening

Regards

Aussie / JPY Update Wednesday 30th May 2012 11:16hrs

Aussie / JPY

AJ has made news low through the morning session.

The trade is currently in profit by 2%.

The stop remains at break even as I expect at some point there will be a pull back.


Chart below.

 

I will update again this evening.

Regards

Aussie / JPY & Kiwi / JPY Update Wednesday 30th May 2012 05:23hrs

Aussie / JPY & Kiwi / JPY

Aussie / JPY has made a new low over night and I have moved the stop to break even removing the risk from the position.

I have set a limit order for the target of 5% at 75.75.

Chart below

 

Kiwi / JPY was unable to remain below the trend line break level and has been stopped for a loss of 1%. Price is now back at the entry level.

Chart below

 

I will update again on the AJ position later today.

I am looking for the next strategy trade and will update when it has been identified.

Have a good morning

Regards

Aussie / JPY & Kiwi / JPY Update Tuesday 29th May 2012 17:39hrs

Aussie / JPY & Kiwi / JPY

I have been triggered in to the trades.

Both positions have made new lows, however I am unable to move the stops just yet as this would risk being stopped at break even.

I will monitor the positions over the next few hours to see if I can move the stops to remove risk.

I will update again when there is something new to report.

Have a good evening

Regards

Aussie / JPY & Kiwi / JPY Update Tuesday 29th May 2012 14:00hrs

Aussie / JPY & Kiwi / JPY

I have orders to enter short on the above. Levels and charts below.

Aussie / JPY

Entry: 78.00

Stop: 78.45

Target: 75.75

Kiwi / JPY

Entry: 60.30

Stop: 60.60

Target: 58.80

I will update again once the trades have been triggered

Regards

Aussie / JPY & Kiwi / JPY Tuesday 29th May 2012 12 Noon

Aussie / JPY & Kiwi / JPY

These pairs are in a significant down trend. Price has pulled back and is currently support by a trend line.

Charts below

Aussie / JPY

Kiwi / JPY

Should price make a move lower and break through the support I will look to enter short on a pull back the the trend line with an overbought stochastic.

Charts Below

Aussie / JPY 15 Minute Chart

 

Kiwi / JPY 15 Minute Chart

I will up date with the levels if and when price makes its move.

Best Regards

Sterling / Yen Thursday 24th May 2012 11:33hrs

Sterling / Yen

I have been unable to obtain an entry with good risk reward.
I have therefore removed my order and will look to enter when price has pulled back.

Chart below

 

I will update again when the next trade presents itself

Regards

Euro / JPY Update Wednesday 23rd May 2012

Euro / JPY.

Unfortunately price has not pulled back enough to give a good risk reward entry on this position.

I have removed my order.

Chart below.

 

Regards

Sterling / YEN Wednesday 23rd May 2012 12:30hrs

Sterling / Yen

Sterling / Yen has been unable to hold above the averages. Price has broken through the trend line support and through the averages. Price has gone on to make a new low.

Chart below.

I am looking to enter a short position when price retraces to the over lapping resistance level of the trend line, the moving average and the Fibonacci level.

Entry levels and chart below.

Entry: 125.65

Stop: 126.10

Target: 123.40 (5%)

I will update if and when the trade is triggered.

Regards

Euro / JPY Wednesday 23rd May 2012 07:57hrs

Euro / JPY

Euro / JPY is in a down trend. Price has recently pulled back 50% of the last moved down.

Charts below.

I am looking for a short entry after the break of trend line support and the push down through the averages.

At the time of writing EJ is still a little oversold so the entry levels may change slightly.
I am waiting for an over bought stochastic and a pull back to the fib levels and averages before I enter the trade.

Entry levels and chart below.

Entry: 101.35

Stop: 101.65

Target: 99:85 (5%)

I will update once the trade has been triggered.

Have a good day

Regards

Kiwi / USD Update: Tuesday 22nd May 2012 13:21

Kiwi / USD.

My order at 0.7625 has NOT been picked up on the retracement.

The high was 0.7621.

4 pips from my entry.

My order has been removed.

Chart below

 

I will update when the next strategy trade has been identified

Regards

Kiwi USD Tuesday 22nd may 2012 12:16hrs

Kiwi / USD is in a down trend.

Chart below

 

Price has recently pulled back allowing the averages to catch up.

Price has broken back down and a short setup with the trend has presented itself to me.

I am looking to enter short on a pull back to the Fibonacci levels and short term moving averages.

Chart and levels below.

Entry: 0.7625

Stop: 0.7665

Target: 0.7425 (5%)

 

I will update once the trade has been triggered.

Regards

USD STRENGTH Tuesday 22nd May 2012 10:01hrs

USD strength has returned to the market, with Cable and Euro / USD breaking lower.

The long trades are off and I am looking for shorts with the mid term trend.

Once we get a cross of the short term averages I will update with some entery levels.

Gold. Tuesday 22nd May 2012 08:39hrs

Gold:

Gold has been trending down from its high of $1790.00 at the end of February 2012.

Price has retraced to the 50% Fibonacci level from the most recent push down from a high of 1672.10 to a low of 1526.50

Chart below

Should price break back down through the averages and provide a 60 minute crossover I will look to enter short on a pull back.

From the chart below you will see that price is currently supported by the 4hr 20 EMA. Should this break then a 60 Minute cross will develop and allow me to enter short on the pull back.

Chart below

I will update once price has shown me the direction it wishes to take.

Regards

Sterling / Yen (GJ) Tuesday 22May 2012 08:21

Sterling / Yen.

GJ has been in a longer term up trend on the daily charts.
Price has pulled back to the 50%Fibonacci level of 125.40.

Chart below

Should price break up through the averages, I will look for a long entry on the short term charts.

As you can see form the chart below price has a trend line support below.
A break above the 4Hr 20 EMA would look good for a test of 128.00 region.

Chart below

I will update when price confirms the direction it wants to go.

Regards

Cable Tuesday 22nd May 2012 06.45hrs.

Cable.

Cable has been in a longer term up trend on the daily chart.
Last weeks USD strength has created a pull back to 1.5750.
This level is a 50% Fibonacci level from the previous swing low at 1.5236 to the swing high at 1.6300.

Chart below.

As you can see from the Daily chart above, the stochastic is showing oversold and has now crossed over.

Should we get a break back above the 4Hr 20 EMA, I will look to the short term charts for an entry long.

The 15 minute chart below is showing that price is trapped in a range. With resistance above at 1.5840 and support below in the form of a double bottom at 1.5780.

Chart below.

I will update once price has shown its intentions with direction.

There is good sterling news out over the next 72 hours, so let see if we can profit from that.

Have a great day

Regards

Cable Update Wednesday 16th May 2012 10:35hrs

Cable.

To confirm the target of 1.5930 for a 5% profit has been hit.

The next target would be 1.5830

Chart below

I am actively looking for the next strategy trade, once it has been identified I will post again.

Have a good morning

Regards

Cable Update Tuesday 15th May 2012 14:04 hrs

Cable.

I can confirm that I have been stopped at break even.

My stop was at 1.6080 I have a high of 1.6181 on the chart. Stopped by 1 pip

Chart below.

I am sorry fellas, I moved the stop as cable is oversold and there was a lot of USD news out today.

I didn't want to go out of court on this when I had been in profit 20 odd pips.

Price is at support here, and if it breaks, I will cry myself to sleep tonight.

I will update when I find the next strategy trade.

Regards

Cable Update Tuesday 15th May 2012 09:45hrs

Cable.

I have moved my stop to break even on this trade. Thus eliminating the risk.

Chart below.

The chart looks a little oversold and it is likely this will stop at break even, however there is no risk on the book so lets hope we see a new low through 1.6050, and on down to the target.

I have set a limit order for 5% and will update again this evening.

Regards

Cable Tuesday 15th May 2012 06.15hrs

Cable.

This pair is in a longer term uptrend, however it has continually put in lower highs and lower lows on a 60 minute time frame, from 30/04/2012.

Chart below.

Monday afternoon price pulled back to the Weekly Pivot Point and is now in a small channel supported by the daily pivot point. (1.6085)

If prices breaks to the down side I will look to enter short.
I am aware there is support below on the longer term charts at 1.6050 and 1.6010, however I will move the stop to break even if and when price approaches these levels to eliminate the risk.

Levels and chart below.

Entry: 1.6080

Stop: 1.6110

Target: 1.5930

If the break does not materialise and price moves up, I will wait for a higher high and a pull back before attempting any longs.

Have a good morning and I will update as the trade develops

Regards

Cable. Friday 11th May 2012 06:31hrs

Cable.

As I said in my post yesterday, if Cable failed to make a higher high, then I would be concerned that it would have the appetite to attack the resistance at 1.6300.

Cable did pull back to the averages, however the stochastic was not at the correct level, and with the failure to make the higher high I backed away from the trade.

Rules are NOT made to be broken and on this occasion they have saved me a 1% loss.

I will look else where for a trade set up that ticks ALL my boxes.

Chart below.

 

Have a good day and I will update as soon as a setup is identified.

Regards

Scott

Cable Potential. Thursday 10th May 2012 14:15hrs

Cable:

Cable is in an uptrend as shown in the chart below.

Chart below

Price has retraced from a high of 1.6300 to find support at a previous low and a 50% fib level.

Chart below

In a perfect world Cable would break the previous high and Weekly Central Pivot Point (WP) at 1.6200 This would show a real appetite that price wants to retest 1.6300.

However with the slow down in the volatility we have seen in recent weeks it may be I have to take the trade without a Higher High.

Last time Cable made a move up I did not enter the long on the pull back as there was no Higher High. Price then went 450 pips without me.

Price has broken the trend line resistance and has made a new high above the immediate swing high so even if price does not break the Weekly Pivot I will assess the trade when it pulls back to support.

I am looking to enter a long trade around the following levels.

Chart below

Entry: 1.6150

Stop: 1.6110

Target: 1.6300 (4%) Previous resistance level.


As I said this is not a trade just yet, I will update as and when price pulls back to the averages.

Have a good afternoon

Best Regards

Scott

EURO / USD Order removed Thursday 3rd May 2012 11:43 hrs

Euro / USD

With no sign of the pull back just yet and Intrest rates at 12:35hrs, I have decided to remove the order and look to enter the short when I get the next short term cross down.

Chart below

 

Regards

Scott

EURO / USD Update Thursday 3rd May 2012 08:01 hrs

Euro / USD

The pull back has not arrived just yet.

I am waiting price to come to me otherwise the stop will be to big and the risk reward will become to great.

The trade has not gone yet and I will get short at the right level with the stochastic at an overbought level.

Currently I am looking at the following levels, however these may change as the day progresses.

Entry: 1.3175

Stop: 1.3125

Target: 1.3005 (3.5%)

Charts below.

 

Regards

Scott

EURO / USD Wednesday 2nd May 2012 11:26hrs

Euro / USD.

As you  can see from the chart below EU has been in a downtrend for some time.

I have been waiting for pull backs before trying shorts.

Price has pulled back to the trend line above and 78.6% fib retracement.

Chart below.

Price has now broken supporting trend line, price has also broken through the averages and pivots points on the back of more bad data from the Euro Zone (Final Manufacturing PMI and Unemployment figures)

This gives me a good opportunity to get short on the retest of the previous support now resistance.

Chart and entry levels are below.

Entry: 1.3205

Stop: 1.3245

Target 1.3005 (5% and previous support)

I will update should the trade be triggered and when I intend to move the stoploss.

Have a good day

Regards

Scott

Euro / USD Tuesday 1st May 2012 06:42hrs

Euro / USD

The chart below is a good representation of the USD currency market at the moment.

Chart below

Price is stuck in a triangle and I am having to sit on my hands waiting for a break, either long or short.

For the moment USD remains weak, and so does the EURO, so price is just going sideways.

I will wait for price to pick its direction before getting involved with the USD charts.

YEN

The Japanese Yen has picked up some momentum and surprise surprise the two trades that were tried last week, (Euro / JPY and Aud / JPY) have both made significant moves to the down side with both trades hitting their respective targets.

However if I had held risk on the trades I would have been stopped for -1% each before the move down.

AJ chart below

EJ chart below

This leaves me in the difficult place of being on the sidelines.

However I will wait and preserve the capital until the right trade with the correct risk reward comes along.

My alarms are set and I will be notified if a break happens, at which time I will assess the trade and if it ticks the boxes I will place my orders.

Have a good week and I will update as soon as I have something to trade.

Regards

Scott