EUR / JPY Update: Wednesday 12th December 2012 18:13 hrs

EUR / JPY

Target Hit.

Chart below

Regards

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

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

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

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

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

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

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