EUR / JPY UPDATE 7.5% profit at market: Thursday 27th February 2014. 10:42hrs

EUR / JPY:

EJ has continued to move down.

With USD / JPY breaking out of the wedge I am hopeful this trade is going to move toward my end target.

The first position (short 140.25) is in profit by 125 pips or 3.57%

The second position (short 140.00) is in profit by 100 pips or 4%.

Chart below:

 

 

Personally I am happy to hold through the pull back and look to add again.

 

However a profit of 7.5% is very good and you may consider closing here or at least taking some money off the table.

 

As I said I will look to add in again if we see another strong push down.

 

I will update you should I place another stop sell order.

 

In the mean time have a great day.

 

Regards

 

MDT

 

EUR / JPY UPDATE: Thursday 27th February 2014. 08:22hrs

EUR / JPY:

My second order has been triggered at 140.00 and I have moved the stop loss on both positions to 140.00.

This has locked in 25 pips on the first position and break even on the second.

Price has made a new low through 139.60 and I am happy to hold these positions with out any risk.

My end target is 136.40.

Chart below.

 

Hope you guys managed to jump on board.

Have a great day

MDT

EUR / JPY UPDATE: Thursday 27th February 2014. 07:50hrs

EUR / JPY:

Having moved the stop loss to break even on the first position (140.25) I am able to trade again on the next move down without taking on additional risk.

Price has consolidated over night and a break of 140.00 should see price retest the lows at 139.60.

Levels and chart below:

I have a stop sell order at 140.00 with a stop loss at 140.25.

 

Regards

 

MDT

EUR / JPY UPDATE: Thursday 27th February 2104. 07:36hrs

EUR / JPY:

The first order was pip perfect in its location at 140.25.

Price has moved away from the entry overnight and I have moved the stop loss to break even eliminating the risk on the position.

Chart below:

 

I will be looking to add into the position when we get another move down.

 

I will post again should this develop.

 

Regards

MDT

EUR / JPY: Wednesday 26th February 2014. 16:49hrs

EUR  / JPY:

EJ has been retracing and consolidation over the past few weeks.

Price has finally found a top at the 50% Fibonacci level.

Chart below

 

This afternoon price has broken down and a cross in the 60 minute averages has taken place.

 

According to my trade plan, I can now consider taking a short position on a pull back.

 

The only concern is the trend line support below, that however is around 60 pips from my first entry level. As the stop is going to be around 35 pips on average, I am happy to trade into the support moving my stop loss to eliminate the risk well before we test that area again.

 

Levels and chart below.

 

1st Entry: 140.25

2nd Entry: 140.45

 

Averaged entry: 140.35

 

Stop Loss 140.70

 

1st Target: 138.60 (5%)

2nd target: 136.40 (Previous lows)

 

 

 

After a very slow start to the week, lets hope this can make us some money.

 

Regards

 

MDT

 

 

EUR / USD: Monday 24th February 2014. 14:13hrs

EUR / USD:

EU is in an ascending channel.

Chart below:

Price has been rejected at 1.3770 and a Double top formation is in play on the 60 minute time frame.

If price can break the trendline support and make a new low I will be looking to enter short on a pull back to the resistance level that used to be support.

Chart below:

 

 

I will update again with entry levels should the brake take place.

 

Have a great week

 

MDT

 

 

DOW Jones US30: Thursday 13th February 2014. 10:20hrs

Dow Jones US 30:

The Dow is in a longer term up trend

Chart below:

 

Price was rejected from the 16500 area in January and made a nice move Dow the 38.2% Fibonacci retracement level at 15280.

 

Price has since been retracing back up to the 38.2% Fibonacci level and round number at 16000.

 

Chart below:

 

 

 

Price has consolidated at little at this level and the averages have now crossed over to the downside.

 

On the 60 minute chart price has begun to make Lower Lows and Lower highs.

 

I am looking for a short position as detailed below.

 

Levels and Chart below:

 

Entry: 15845

 

Stop Loss: 15885

 

1st Target: 15805 (Break even)

2nd Target: 15745 (100 pips)

3rd Target: 15280 (Previous Lows)

 

I will update again when the position has been opened.

 

Regards

 

MDT

 

 

 

 

CAD / JPY: Tuesday 11th February 2014. 07.43hrs

CAD / JPY:

CJ has been trending down on a daily chart.

Chart below:

 

Following a small pull back, I am now considering short positions.

 

My moving averages have crossed to the short side and I am looking for a short position as detailed below.

 

Levels and Chart below:

 

Entry: 92.05 (1%)

 

Stop: 92.45

 

1st Target: 90.90 (2.9%)

2nd Target: 89.30 (6.9%)

Final target: 88.00 (10.1%)

 

 

I will move the stop to break even eliminating the risk on the position when price tests 91.75

 

I will update again when the position has been opened.

 

Regards

 

MDT

 

GBP USD Update: Monday 10th February 2014. 08:15hrs

GBP / USD:

Should cable fail to pull back to the desired entry levels (see previous post) then I will look to enter long on a break of the swing high at 1.6426.

Chart below:

 

Regards

 

MDT

GBP / USD: Monday 10th February 2014. 07:09hrs

GBP / USD:

Cable is in an up trend.

Price retraced from the high to a previous Resistance level at 1.6250.

This also the Daily 100 Period Moving average.

Chart below:

 

Price has now begun to move higher and the averages have crossed back to the upside.

 

I am looking for a long position on a pull back to over lapping support as detailed below.

 

Levels and chart below:

 

1st Entry: 1.6380

2nd entry: 1.6370

 

Averaged Entry: 1.6375

 

Stop Loss: 1.6340

 

1st Target: 1.6500

2nd Target: 1.6620

3rd Target: 1.7000

 

I will be moving the stop loss to break even eliminating the risk on a test of 1.6425

 

I will update again when the position has been opened.

 

Have a great week.

 

MDT

EUR / JPY Update: Friday 7th February 2014. 18:21hrs

EUR / JPY:

EJ has as expected pulled back and pick up my first order.

I am long from 138.25.

Price has moved back above the swing high I used to draw the Fibonacci Retracement yesterday at 138.80. This has allowed me to move my stop loss to break even and eliminate the risk on the position.

Chart below.

 

I will hold the position over the weekend and update again on Monday.

 

Have a great weekend

 

Best Regards

 

MDT

 

EUR / JPY: Thursday 6th February 2014. 16:46hrs

EUR / JPY:

EJ is in a long term up trend.

Price has been driven lower by the recent sell off in the US stock market.

Price has found support at the 61.8% Fibonacci retracement level.

Chart below:

 

Price has to day broken up and out of the narrow consolidation range.

 

The moving averages have crossed to the upside.

 

I am looking for a long position when price pulls back with the main trend as detailed below.

 

Levels and Chart below:

 

1st Entry: 138.10 (0.5%)

2nd Entry: 137.90 (0.5%)

 

Averaged Entry: 138.00 (1%)

 

Stop Loss: 137.40

 

1st Target: 140.40 (5%)

2nd Target: 141.20 (PWH & 8%)

3rd Target: 145.50 (145.50 & 18.75%)

 

 

I will be moving the stop loss to break even to eliminate the risk, when the position breaks the swing high at 138.80.

 

I will update again when the position has been opened.

 

Have a great day.

 

Kind Regards
Scott Fitzgerald

Mad Dog Trader

Conservative, Repeatable,

High Probability, Trading Opportunities.