CAD / JPY: 31.05.13 10:29HRS

CAD / JPY:

CJ is in a medium term down trend.

Chart below:

 

There is divergence between the oscillating indicators and price on the medium term charts.

 

Chart below:

 

 

 

Price has this morning broken through the averages and made a new low.

 

I am looking for a short position as detailed below.

 

Levels and Chart below:

 

1st Entry: 97.50

2nd Entry: 97.70

 

Averaged entry: 97.60

 

Stop Loss: 98.05

 

1st Target: 95.35

2nd target: 93.80

 

 

 

I will update again should the trade be triggered.

 

EUR / JPY UPDATE: 31.05.13. 10:25HRS

EUR / JPY:

EJ has moved back down into the small range.

I have been stopped at break even.

Chart below:

 

 

I will update again when the next strategy trade has been identified.

 

 

EUR / JPY UPDATE: 31.05.13. 06:52HRS

EUR / JPY:

EJ has pulled back to pick up my first order at 131.30.

I am long with 0.5% exposure to the market.

Price has moved to to a high over night of 132.06 (76 pips)

My system has moved the stop loss to break even over night, eliminating the risk on this position.

I have removed the second order.

Chart below:

 

Price has pulled back from the over night highs and at the time of writing EJ is trading at 131.62.

 

I have a limit order to take profit at 134.70.

 

However, I will look to lock in profits in the usual way by moving the stop loss higher as price moves away from the entry.

 

I will update again later this afternoon or when the next strategy trade has been identified.

 

 

 

 

 

 

EUR / JPY: 30.05.13 12:27HRS

EUR / JPY:

EJ is in an uptrend.

Chart below:

 

Price has pulled back over the past week, however EJ remains supported.

 

Chart below:

 

 

Price has this morning broken up and I am looking for a long position with the trend as detailed below.

 

Levels and Chart below:

 

1st Entry: 131.30

2nd Entry: 131.10

 

Averaged Entry: 131.20

 

Stop Loss: 130.80

 

1st Target: 133.20

2nd Target: 134.70

 

 

I will update again should the trade be triggered.

 

 

 

 

EUR / USD UPDATE: 29.05.13 06:59HRS

EUR / USD:

EU has not pulled back enough to allow a good risk reward entry.

You will note that the stochastic has not gone over bought and price is moving away with out me.

I have removed my orders for now.

Chart below:

 

 

I will update again when the next strategy trade has been identified.

 

 

EUR / USD: 28.05.13. 17:35HRS

EUR / USD:

EU has made the move down that I tried first thing this morning.

I am now going to try it again on a pull back.

EUR / USD is in a down trend.

The head and shoulders pattern is show below.

Chart below:

 

Price on the medium term chart is show a nice down trend that has pulled back to the 50% Fibonacci level.

 

Chart below:

 

 

I am looking for a short entry as detailed below.

 

Levels and Chart Below:

 

1st Entry:1.2890

2nd Entry: 1.2910

 

Stop Loss: 1.2950

 

1st Target: 1.2650 (5%)

2nd Target: 1.2540 (7.2%)

 

 

 

I will update again if the trade is triggered.

 

 

 

GOLD UPDATE: 28.05.13. 17:26HRS

GOLD:

The position moved nicely into profit and made a new low through 1375.00

The position was in profit by 1.2% or (120 pips)

Then the reversal and price rocketed back up stopping me out for break even.

Chart below:

 

I will update again when the next strategy trade has been identified.

 

 

GOLD UPDATE: 28.05.13. 14:27HRS

GOLD:

Price has retraced and I am short from 1384.00

Price has made a decent move down by 25pips and I have moved the stop loss to break even to eliminate the risk on this position.

Chart below:

 

My limit order is set at 1339.00 for 5%

 

I will update again later this afternoon.

 

EUR / USD UPDATE: 28.05.13. 14:12HRS

EUR / USD:

EU has not been able to continue down and I have been stopped at break even.

I will continue watch for another entry on this pair as the head and shoulders still looks good.

Chart below:

 

I will update again when the next strategy trade has been identified.

 

 

GOLD: 28.05.13. 13:56HRS

GOLD:

Gold is in a down trend.

Price has moved down and now retraced back to the 61.8% Fibonacci level.

Chart below:

 

Price has this morning broken down with the trend and I am looking for a short position with 0.5% risk.

 

Level and Chart below:

 

Entry: 1384.00

 

Stop Loss: 1393.00

 

Target: 1339.00

 

 

 

I will update again should the trade be triggered.

 

 

 

EUR / USD UPDATE: 28.05.13. 08:26HRS

EUR / USD:

Price has retraced and picked up my first order at 1.2910.

I am short with 0.5% exposure.

Price has moved down and made a new low which has allowed me to move the stop loss to break even, eliminating the risk on the position.

Chart below:

 

My limit order is set at 1.2660 for 5%.

 

I will update again later today.

 

 

EUR / USD: 28.05.13. 08:07HRS

EUR / USD:

EU is in a longer term down trend. There is a Head and Shoulders pattern developing

Chart below.

 

Price has made a move down and retraced to the 50% Fibonacci level.

 

Chart below:

 

 

There is support below in the form of the neck line of the Head and Shoulders pattern.

 

However price has broken down this morning and I am looking for a short entry as detailed below.

 

Levels and Chart below:

 

1st Entry: 1.2910

2nd Entry: 1.2915

 

Averaged Entry: 1.2912

 

Stop Loss: 1.2935

 

1st Target: 1.2820

 

2nd Target: 1.2740

 

 

I will update again should the trade be triggered.

 

 

EUR / USD UPDATE: 24.05.13. 07:48HRS

EUR / USD:

Price has retraced as expected, however once again I have not been triggered in to the position.

The low is 1.2903 my first order was 1.2900.

Price has now moved up 40 pips, therefore I have removed my orders.

Chart below:

 

I will update again when the next strategy trade has been identified.

 

 

EUR / USD: 23.05.13. 18:41HRS

EUR / USD:

EU is in a medium term up trend.

Price has pulled back to the 61.8% Fibonacci level and is supported above 1.2800

Chart below:

 

 

Price has today broken up through the averages and I am looking for a long position as detailed below.

 

Levels and Chart below:

1st Entry: 1.2900
2nd Entry: 1.2890

Averaged Entry: 1.2995

Stop Loss: 1.2870

1st Target: 1.3020
2nd Target: 1.3170

I will update again should the trade be triggered.

CABLE & GBP / JPY UPDATE: 22.05.13. 06:45HRS

CABLE:

Price has done nothing over night.
As you can see from the chart below. the stochastic didn't get to overbought, therefore my orders have not been hit.
I am still looking for a short position. I will update again when the set up is there.

Chart below:

GBP / JPY:

This is very much the same as Cable and EUR / JPY from Monday.

Price is not quite ready to go just yet.

I am looking for s position but I will have to wait for the moment.

Chart below:

 

 

 

Cable

 

GBP / JPY

 

EUR / JPY

 

All remain on the watch list for entries.

I will update again when the entry criteria is met.

GBP / JPY: 21.05.13 18:22HRS

GBP /JPY:

GJ is in an up trend. However there has been significant Sterling weakness in the market and there is a nice triple top above this cross.

Chart below:

 

 

There is also present divergence between the Oscillating Indicators and Price.

 

Chart below:

 

 

Price has broken down this afternoon and I am looking to enter a short position as detailed below

 

Levels and Chart below:

 

Entry: 155.90

 

Stop Loss: 156.20

 

Target: 154.40

 

 

This position will start with 0.5% risk as its against the trend and I am still looking to take a sterling position in Cable.

 

I will update again should the trade be triggered.

 

 

 

Cable: 21.05.13. 09:49hrs

Cable:

Cable is in a down trend.

Chart below:

On the back of the inflation report price has broken down through the averages allowing a short position to be considered.

I am looking to enter short as detailed below:

Levels and Chart below:

1st Entry: 1.5220
2nd Entry: 1.5230

Averaged Entry: 1.5225

Stop Loss: 1.5250

Target: 1.5100

Chart below:

 

I will update again should the trade be triggered.

 

 

EUR / JPY UPDATE: 20.05.13. 18:49HRS

EUR / JPY:

Price remains trapped in the range.

I have been stopped at break even.

Chart below:

 

 

Price will make a move at some point, I just need to be patient and wait for the market to show me the way.

 

I will update again when the next strategy trade has been identified.

 

 

EUR / JPY UPDATE: 20.05.13. 16:06HRS

EUR / JPY:

Price has pulled back and picked up my order at 131.85

Price has also moved away from the entry nicely and the position is in profit by 20 pips

I have moved the stop loss to break even to eliminate the risk on the position.

At the time of writing the price is 131.66.

Chart below:

 

I will update again later this evening.

 

 

EUR / JPY UPDATE: 20.05.13 14:04HRS

EUR / JPY:

Price has broken down through the trend line at 131.70.

I have an order to enter short as detailed below:

Levels and Chart below:

Entry 131.85 (0.5%)

Stop Loss: 132.20

Target: 130.75 (Provisional)

 

 

EUR / JPY: 20/05/13. 13:06HRS

EUR / JPY:

EJ is in a tight range as are almost all the JPY crosses.

The JPY crosses are in up trends.

The past week has seen price trapped with resistance above and support below brought about by the JPY weakness.

Chart below:

 

 

There are signs that we could see a decent pull back in the JPY crosses

 

With Divergence on the Oscillating indicators and price.

 

Price had been making Higher Highs and Higher Lows whilst the Oscillating indicators are showing lower highs.

 

Chart below:

 

 

All this means for now is that the uptrend may be running out of steam.

 

What I need is price to break a support level and show me that the pull back is on.

 

Therefore if price can break down through 131.70 (red line on chart below)

 

Chart below:

 

 

 

I will enter a short position with 0.5% risk.

 

I will look to add to the position should it move into profit.

 

I will of course update you should I take the trade on and enter a position.

 

 

 

 

 

 

 

 

EUR / JPY UPDATE: 16/05/13 10.48HRS.

EUR / JPY:

Price made a good break up and was in profit by 13 pips.

Price has now moved back down to a low of 131.58 and stopped me out for a loss of -1%

Price immediately moved back up and the position is now 2% in profit with a price of 132.17

Chart below:

 

I will update again when the next strategy trade has been identified.

 

 

EUR / JPY UPDATE: 16/05/13. 08:59HRS

EUR / JPY:

Price has made a move to the upside with the trend.

I am long from 131.80 with 1% exposure to the market.

I am looking for 3% at 132.40 (Yesterdays High)

Chart below:

The stop loss is currently at 131.60. I will move the stop up to break even when the position is in profit by 1%

I will update again later today.

EUR / JPY: 16/05/2013. 07:49HRS

EUR / JPY:

EJ is in an uptrend.

Chart below:

 

 

Price has tried to break down over the past week but the market remains supported.

 

Chart below:

 

 

At the time of writing price is boxed in between the averages.

 

Should price break up through 131.80, I will look to enter a long position

 

Should price break down, I will look to enter a short position. This would require a lower low through the trend line and then a pull back.

 

Chart below:

 

 

I will update again should the market decide to move.

 

 

 

 

CABLE AND GBP / JPY UPDATE: 09/05/13 20:48HRS

OMG I can't catch a break


CABLE:

Price has pulled back to within 6 pips of my order.

Price has moved without me and I have removed the orders.

Chart below:

 

GBP / JPY

 

Target HIT.

 

Chart below:

 

 

I will update again when the next strategy trade has been identified.

 

 

GBP / USD: 09/05/13. 14:58HRS

GBP / USD:

Cable is in a down trend. Price has pulled back to the 50% Fibonacci Level at 1.5600 where is has found solid resistance.

Chart below:

Price has been in a decent range for the past week chopping up and down.

Chart below:

 

Price has now broken down through the averages and I am looking for a short position as detailed below.

 

Levels and Chart below:

 

1st Entry: 1.5520

2nd Entry: 1.5530

 

Averaged Entry: 1.5525

 

Stop Loss: 1.5555

 

Target: 1.5375 (5%)

 

 

I will update again should the trade be triggered.

 

 

 

GBP / JPY UPDATE: 09/05/13. 09:35HRS

GBP / JPY:

The data at 09:30hrs was good for sterling and price has moved up to 153.90

Unfortunately I have been stopped on a spike down 15 seconds before the data was released.

Result is I have been stopped at break even.

Chart below:

 

 

I will update again when the next strategy trade has been identified.

 

 

GBP / JPY UPDATE: 09/05/13. 08:56HRS

GBP / JPY:

Price has made a decent move up by 20 pips.

There is a large amount of data due to be released at 09:30hrs and at 12 noon.

I have therefore moved the stop loss to break even eliminating the risk on the position.

Chart below:

 

I will update again later.

 

Have a good day.

 

 

GBP / JPY: 09/05/13. 06:45HRS

GBP / JPY:

I am long GJ from 153.60 with 0.5% exposure.

My second order has not been hit and I have removed it.

I am not able to move the stop loss just yet but will look to do so as soon as is practical.

The stop remains at 153.10

Chart below:

 

I will update again later this morning.