Price has pulled back to a high of 128.03
My order was at 128.10
Price has now made a new low and is trading at 127.61.
I have removed my order.
Chart below:
I will update again when the next strategy trade has been identified.
Tuesday, April 30, 2013
EUR / JPY UPDATE: 30/04/13. 09:53HRS
EUR / JPY:
Price has pulled back to a high of 128.03
My order was at 128.10
Price has now made a new low and is trading at 127.61.
I have removed my order.
Chart below:
I will update again when the next strategy trade has been identified.
Price has pulled back to a high of 128.03
My order was at 128.10
Price has now made a new low and is trading at 127.61.
I have removed my order.
Chart below:
I will update again when the next strategy trade has been identified.
EUR / JPY UPDATE: 30/04/13. 08:30HRS
EUR / JPY:
Price has begun to retrace.
I have an order to enter short as detailed below:
Levels and chart below:
Entry: 128.10
Stop Loss: 128.50
Target: 126.10
I have only 0.5% risk on this trade.
I will look to add to this position should the first entry move into profit.
I will update again should the trade be triggered.
Price has begun to retrace.
I have an order to enter short as detailed below:
Levels and chart below:
Entry: 128.10
Stop Loss: 128.50
Target: 126.10
I have only 0.5% risk on this trade.
I will look to add to this position should the first entry move into profit.
I will update again should the trade be triggered.
EUR / JPY: 30/04/13. 07.42 HRS
EUR / JPY:
EJ has been making lower lows and lower highs on the short term charts.
Chart below:
EJ has been making lower lows and lower highs on the short term charts.
Chart below:
Price has been in a small range and has this morning broken out of that range.
I am looking for a short entry on a pull back.
Chart below:
I will update again with the levels when the pull back begins
Friday, April 26, 2013
AUD / USD UPDATE: 26/04/13. 13:48HRS
AUD / USD UPDATE: 26/04/13. 12:35HRS
AUD / USD:
Price has retraced to the first entry at 1.0285 and I am short with 0.5% risk.
Price has made a move towards the low at 1.0261 and I have moved the stop loss to break even eliminating the risk on the position.
I have removed my second order.
Chart below:
There is significant new for the US Dollar in less than one hour at 13:30hrs GMT in the form of
US GDP. I am hoping that this will push price lower and on towards the target.
Price has retraced to the first entry at 1.0285 and I am short with 0.5% risk.
Price has made a move towards the low at 1.0261 and I have moved the stop loss to break even eliminating the risk on the position.
I have removed my second order.
Chart below:
There is significant new for the US Dollar in less than one hour at 13:30hrs GMT in the form of
US GDP. I am hoping that this will push price lower and on towards the target.
I will update again later this afternoon
AUD / USD: 26/04/13 10:57HRS
AUD / USD:
Aussie Dollar is in a down trend on the 4hr chart.
Chart below:
Price has retraced to 38.2% Fibonacci area where a Double top has formed.
Chart below:
Aussie Dollar is in a down trend on the 4hr chart.
Chart below:
Price has retraced to 38.2% Fibonacci area where a Double top has formed.
Chart below:
I am looking for a short entry as detailed below
Levels and Chart below:
1st Entry: 1.0285
2nd Entry: 1.0295
Averaged Entry: 1.0290
Stop Loss: 1.0320
Target: 1.0140
I will update again if and when the chart is triggered.
Wednesday, April 24, 2013
AUD / JPY UPDATE: 24/04/13. 06:55HRS
AUD / JPY:
Price has been unable to remain below the averages and I have been stopped for 0.5%
Chart below:
I will update again when the next strategy trade has been identified.
Price has been unable to remain below the averages and I have been stopped for 0.5%
Chart below:
I will update again when the next strategy trade has been identified.
Tuesday, April 23, 2013
AUD / JPY UPDATE: 23/04/13. 19:35HRS
AUD / JPY.
Price has retraced as expected.
However price has also been very jumpy.
I am short from 101.50 with 0.5% risk
I removed the second order as price looked very bid at the time of entry.
Price has spiked down from the entry by 70 pips and is now back up again.
I have not been able to move the stop loss to break even just yet, but I will do as soon as it is possible.
Chart below:
I will update again first thing tomorrow morning.
Price has retraced as expected.
However price has also been very jumpy.
I am short from 101.50 with 0.5% risk
I removed the second order as price looked very bid at the time of entry.
Price has spiked down from the entry by 70 pips and is now back up again.
I have not been able to move the stop loss to break even just yet, but I will do as soon as it is possible.
Chart below:
I will update again first thing tomorrow morning.
AUD / JPY: 23/04/13. 07:25HRS
AUD / JPY:
AJ is in a longer term up trend.
However price has been making lower highs and lower lows on the medium term charts.
Price has also formed a Double top at the 61.8% Fibonacci Level.
Chart below:
Price has broken through a trend line support and the averages.
I am looking to enter a short as detailed below.
Levels and Chart below:
1st Entry: 101.50
2nd Entry: 101.80
Averaged Entry: 101.65
Stop Loss: 102.20
1st Target: 99.40 (5%)
2nd Target: 97.30 (7.2% Previous lows and Fibonacci extension)
I will update again should the trade be triggered.
AJ is in a longer term up trend.
However price has been making lower highs and lower lows on the medium term charts.
Price has also formed a Double top at the 61.8% Fibonacci Level.
Chart below:
I am looking to enter a short as detailed below.
Levels and Chart below:
1st Entry: 101.50
2nd Entry: 101.80
Averaged Entry: 101.65
Stop Loss: 102.20
1st Target: 99.40 (5%)
2nd Target: 97.30 (7.2% Previous lows and Fibonacci extension)
I will update again should the trade be triggered.
Monday, April 22, 2013
EUR / USD UPDATE: 22/04/13 10:41HRS
EUR / USD
It's a slow day in forex land.
Price has made a low at 1.3030 and done nothing.
I have been stopped at break even on a small retracement
Price is now at 1.3048 and going sideways.
I think it was worth a shot, but I don't like holding risk in a drifting market.
I will look to get involved when the momentum is good.
Chart below:
I will update again when the next strategy trade has been identified.
It's a slow day in forex land.
Price has made a low at 1.3030 and done nothing.
I have been stopped at break even on a small retracement
Price is now at 1.3048 and going sideways.
I think it was worth a shot, but I don't like holding risk in a drifting market.
I will look to get involved when the momentum is good.
Chart below:
I will update again when the next strategy trade has been identified.
EUR / USD UPDATE: 22/04/13. 08:47HRS
EUR / USD
Price has made a move down through the trend line.
I am short from 1.3050 with 0.5% exposure to the market.
Price has made a lower low through Fridays low and and I have moved the Stop Loss to break even to eliminate the risk on this position.
The next support level is at 1.3000.
Chart below.
Price has made a move down through the trend line.
I am short from 1.3050 with 0.5% exposure to the market.
Price has made a lower low through Fridays low and and I have moved the Stop Loss to break even to eliminate the risk on this position.
The next support level is at 1.3000.
Chart below.
I will update again later today.
EUR / USD 22/04/13 06:45HRS
Friday, April 19, 2013
AUD / JPY & CAD / JPY UPDATE: 19/04/13. 17:41hrs
CAD / JPY:
Price did pull back and the first order has been hit.
Price then move away from the entry by 35 pips.
I moved the stop to break even to eliminate the risk on the position
I also removed the second order.
However, and there seems to be a however all to often just at the minute.
Price has revisited the entry and stopped me at break even.
Chart below:
AUD / JPY:
With the weekend just around the corner and price action limited. I have decided to back away from this trade. I have removed the orders and will look to get involved again on Monday morning.
Over all its been a decent week price has been moving and I have made a few bob.
I will look to improve on this over the coming weeks.
I hope you all have a great weekend.
Price did pull back and the first order has been hit.
Price then move away from the entry by 35 pips.
I moved the stop to break even to eliminate the risk on the position
I also removed the second order.
However, and there seems to be a however all to often just at the minute.
Price has revisited the entry and stopped me at break even.
Chart below:
AUD / JPY:
With the weekend just around the corner and price action limited. I have decided to back away from this trade. I have removed the orders and will look to get involved again on Monday morning.
Over all its been a decent week price has been moving and I have made a few bob.
I will look to improve on this over the coming weeks.
I hope you all have a great weekend.
AUD / JPY: 19/04/13. 13:08HRS
AUD / JPY:
AJ is in an uptrend:
Chart below:
AJ is in an uptrend:
Chart below:
Price has recently pulled back to the 78.6% Fibonacci level
Chart below:
Price has today made a higher high and broken out of its range.
I am looking for a long position on a pull back as detailed below.
Levels and Chart below:
1st Entry: 101.80
2nd Entry: 101.70
Averaged Entry: 101.75
Stop Loss: 101.30
Target: 104.00
Price has pull back to allow a decent risk reward. If price does not pull back I will let the trade go.
I will update again should the trade be triggered.
CAD / JPY: 19/04/13. 12:18HRS
CAD / JPY:
CJ is in an uptrend.
Chart below:
CJ is in an uptrend.
Chart below:
Price has recently pulled back to the 61.8% Fibonacci Level.
Chart below:
Price has been in a small range over the past 48hrs.
Chart below:
Price has now broken out of the range made a Higher High.
I am looking for a long position on a pull back as detailed below
Levels and chart below:
1st Entry: 96.50
2nd Entry: 96.10
Averaged Entry: 96.30
Stop Loss: 95.75
Target: 99.05 (5%)
I will update again should the trade be triggered.
Thursday, April 18, 2013
GBP / USD UPDATE: 18/04/13 19:13HRS
GBP / USD:
Price has retested the lows at 1.5215, however it did not break the support and price has now retraced.
I have been stop for a profit of 0.5%
Chart below:
Price has retested the lows at 1.5215, however it did not break the support and price has now retraced.
I have been stop for a profit of 0.5%
Chart below:
I will update again when the next strategy trade has been identified.
GBP / USD UPDATE: 18/04/13 06:35HRS
GBP / USD:
Price has not moved overnight and stands at 1.5244 at the time of writing.
The moving averages have moved down allowing me to lock in 0.5% profit.
I am looking for price to make a new low, allowing me to locking more profits as the decline continues.
Chart below:
Price has not moved overnight and stands at 1.5244 at the time of writing.
The moving averages have moved down allowing me to lock in 0.5% profit.
I am looking for price to make a new low, allowing me to locking more profits as the decline continues.
Chart below:
I will update again this afternoon or when the next strategy trade has been identified.
Wednesday, April 17, 2013
GBP / USD UPDATE: 17.04.13. 22:53HRS
GBP / USD:
Cable has made a new low (1.5215) I remain short as detailed earlier.
There has not been any significant pull back to allow a second entry.
The stop loss remains at break even over night.
I will be looking to lock in some profit from tomorrow morning.
Chart below:
I will update again tomorrow morning
Cable has made a new low (1.5215) I remain short as detailed earlier.
There has not been any significant pull back to allow a second entry.
The stop loss remains at break even over night.
I will be looking to lock in some profit from tomorrow morning.
Chart below:
I will update again tomorrow morning
GBP / USD UPDATE: 17/04/13. 10:16HRS
GBP / USD:
Price has continued down and is approaching the first level of support at 1.5270.
I have moved the stop loss to break even to eliminate the risk on the position.
I am currently short with 0.5% exposure to the market
There could still be a retracement back towards the entry, where I will consider the add in.
Chart below:
I will update again later this morning
Price has continued down and is approaching the first level of support at 1.5270.
I have moved the stop loss to break even to eliminate the risk on the position.
I am currently short with 0.5% exposure to the market
There could still be a retracement back towards the entry, where I will consider the add in.
Chart below:
I will update again later this morning
GBP / USD UPDATE: 17/04/13. 09:48
GBP / USD:
The trade has been triggered and is currently in profit by 25 pips.
I have entered on a break at 1.5325 with 0.5% risk.
I will hold the stop at 1.5355 for the time being, as there is likely to be a pull back to the entry level.
I will remove the risk as soon the chart allows me to.
Should the pull back take place, I will consider adding to the position with another 0.5% position.
The total risk will never be more than 1%.
Chart below:
I will update again later this morning.
The trade has been triggered and is currently in profit by 25 pips.
I have entered on a break at 1.5325 with 0.5% risk.
I will hold the stop at 1.5355 for the time being, as there is likely to be a pull back to the entry level.
I will remove the risk as soon the chart allows me to.
Should the pull back take place, I will consider adding to the position with another 0.5% position.
The total risk will never be more than 1%.
Chart below:
I will update again later this morning.
GBP / USD: 17/04/13. 08:36HRS
GBP / USD:
Cable is in a down trend.
Price has pulled back to the 38.2% Fibonacci level.
Chart below:
On the 60 minute chart there is also some nice divergence showing.
Price is also forming a head and shoulders pattern.
Chart below:
Cable is in a down trend.
Price has pulled back to the 38.2% Fibonacci level.
Chart below:
On the 60 minute chart there is also some nice divergence showing.
Price is also forming a head and shoulders pattern.
Chart below:
I am looking for a short position when price breaks through the support level of 1.5328
Chart below:
I will update again with the entry levels if and when the break takes place.
Tuesday, April 16, 2013
EUR / USD UPDATE: 16.04.13 10:29HRS
EUR / USD:
Price has pulled back but once again my levels have been just missed.
The high of the pull back was 1.30555 (4.5pips) short
I have removed my orders to short EU
Chart below:
However, price has not responded as I would have like and it has not made a new low.
The USD currency crosses look supported just now and I am backing away from the short until a better patter is in play.
I would like to see a decent pull back a double top and then a break back down through the red line on the chart.
Chart below:
Price has pulled back but once again my levels have been just missed.
The high of the pull back was 1.30555 (4.5pips) short
I have removed my orders to short EU
Chart below:
However, price has not responded as I would have like and it has not made a new low.
The USD currency crosses look supported just now and I am backing away from the short until a better patter is in play.
I would like to see a decent pull back a double top and then a break back down through the red line on the chart.
Chart below:
I will update again when the next strategy trade has been identified.
EUR / USD: 16.04.13. 08:59hrs
EUR / USD:
EU is in a down trend.
Price has pulled back to the 38.2% Fibonacci Level. this level is also a previous resistance level
Chart below:
EU is in a down trend.
Price has pulled back to the 38.2% Fibonacci Level. this level is also a previous resistance level
Chart below:
I am looking for a short position as detailed.
Levels and Chart below:
1st Entry: 1.3060
2nd Entry: 1.3070
Averaged Entry: 1.3065
Stop Loss: 1.3090
Target: 1.2940 (5%)
I will update again should the trade be triggered.
Friday, April 12, 2013
CABLE AND EUR / USD: 12/04/13. 06:25 HRS
Cable and EUR / USD:
This week has been a challenging week / month.
With main trend still short on the dollar pairs, it has been hard to find good risk reward strategy trades.
As you know risk reward is a key part of the strategy.
It is very easy to jump into a trade with a 100 pip stop loss and a target of 50 pips.
This however is not how I have made money in the past.
I like a nice tight stop loss with a realistic target. 3/1 as a minimum.
As the Dow continues its climb higher and the currencies remain supported.
However the pull back on the above pairs may be starting to run out of steam.
The charts below show price has returned to the 38.2% Fibonacci Level and previous resistance.
Cable:
If price holds below here then I will begin to look for short entries.
If price breaks through and up; then I will have to look for longs with the mid term trend.
I have been sitting on my hands for almost 2 months.
It is hard but it is the safest way to protect the capital and ensure I only trade with the strategy
I will be in touch as soon as a strategy trade has been identified.
THEN I WILL NAIL IT!!!
I trust you are all well.
This week has been a challenging week / month.
With main trend still short on the dollar pairs, it has been hard to find good risk reward strategy trades.
As you know risk reward is a key part of the strategy.
It is very easy to jump into a trade with a 100 pip stop loss and a target of 50 pips.
This however is not how I have made money in the past.
I like a nice tight stop loss with a realistic target. 3/1 as a minimum.
As the Dow continues its climb higher and the currencies remain supported.
However the pull back on the above pairs may be starting to run out of steam.
The charts below show price has returned to the 38.2% Fibonacci Level and previous resistance.
Cable:
EUR / USD:
If price holds below here then I will begin to look for short entries.
If price breaks through and up; then I will have to look for longs with the mid term trend.
I have been sitting on my hands for almost 2 months.
It is hard but it is the safest way to protect the capital and ensure I only trade with the strategy
I will be in touch as soon as a strategy trade has been identified.
THEN I WILL NAIL IT!!!
I trust you are all well.
Tuesday, April 09, 2013
GBP / USD UPDATE: 09.04.13 16:36hrs
GBP / USD:
Price has eventually pulled back but not to my levels.
i have removed my orders.
Chart below:
They has been limited volume in this pair today and I am getting ready for a short set up with the main trend. Price has not really done anything and is at the time of writing at 1.53020
I will update again when the next strategy trade has been identified
Price has eventually pulled back but not to my levels.
i have removed my orders.
Chart below:
They has been limited volume in this pair today and I am getting ready for a short set up with the main trend. Price has not really done anything and is at the time of writing at 1.53020
I will update again when the next strategy trade has been identified
GBP / USD: 09.04.13 07:15HRS
GBP / USD:
Cable has been making higher highs and higher lows on the mid term time frame (4hr chart)
Chart below:
Price has has traded in a small range overnight.
Chart below:
Cable has been making higher highs and higher lows on the mid term time frame (4hr chart)
Chart below:
Price has broken up through the resistance at 1.5250 area and made a new high.
Price has now pulled back to this area and is showing signs of being supported above this area.
This move higher has brought the moving averages into alignment allowing for a long trade to be considered.
Chart below:
Chart below:
Should price break out of this range and move higher I will be looking for a long position above 1.52850 with a stop below.
I will update again should the break take place.
Regards
Thursday, April 04, 2013
AUD / USD UPDATE: 04.04.13. 15:51HRS
AUD / USD:
Price has pulled back to a high of 1.04308 (4.2 Pips from my entry)
Price has now made a move down and made a new low at 1.0402.
My orders have not been triggered.
I have therefore removed the orders to to enter short.
Chart below:
Price has pulled back to a high of 1.04308 (4.2 Pips from my entry)
Price has now made a move down and made a new low at 1.0402.
My orders have not been triggered.
I have therefore removed the orders to to enter short.
Chart below:
I will update again when the next strategy set up has been identified
Regards
AUD / USD: 04/04/13. 12:48hrs
AUD / USD:
Price has made a double top formation showing that price doesn't like it above 1.0500
Chart below:
Price has made a double top formation showing that price doesn't like it above 1.0500
Chart below:
Price has broken down through the averages and I am looking for a short position on a pull back.
Levels and Chart below:
1st Entry: 1.0435
2nd Entry: 1.0445
Averaged entry: 1.0440
Stop loss: 1.0470
Target: 1.0290 (5%)
I will update again should the trade be triggered.
Regards
Tuesday, April 02, 2013
GBP / USD: 02/04/13. 14:17HRS
GBP / USD:
Cable is in a down trend.
Chart below:
Price has formed a double top on the medium term time frames.
Chart below:
Cable is in a down trend.
Chart below:
Price has formed a double top on the medium term time frames.
Chart below:
Price has this morni8ng made a lower low through the averages and I am looking for a short entry on a pull back.
Levels and Chart below:
1st Entry: 1.5175
2nd Entry: 1.5195
Averaged Entry: 1.5185
Stop Loss: 1.5220
Target:: 1.5010 (5% & previous support)
I will update again should the trade be triggered.
Regards
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