Cable GBP / USD: Friday 25th April 2014. 14:42hrs

GBP / USD:

Cable has been consolidation for the past week or so. Although price has been slowly drifting up there are some signs that a reversal may be around the corner.

From the chart below you can see that price has remained below the 1.6850 level and that there is a divergence between price making Higher highs and the oscillating indicators.

Chart below:

 

I would like to see price hold below below 1.6850 and make a move lower through 1.6750.

Once the lower low is in place the averages will have crossed over and I will look for a short on the pull back.

 

Chart below:

 

 

I will update again should price break down and I decide to enter a position.

 

Have a great weekend.

 

Namaste

 

MDT

 

 

 

EUR / JPY Update: 17th April 2014. 11:52hrs

EUR / JPY:

EJ has retraced as expected and made a nice move higher to 141.50.

I have moved my stop to break even, thus eliminating the risk on the position.

The chart is showing a cheeky bullish 15 minute cross, therefore I may add in when the pullback to the averages takes place.

I do have in the back of my mind the Easter break and I may just hold what I have over the weekend.

If I do decide to add in, I will post the levels.

Chart below:

 

 

Have a great long weekend.

 

Namaste

 

MDT

EUR / JPY: Wednesday 16th April 2014: 11:05hrs

EUR / JPY:

EJ is in a bit of a range.

Chart below:

 

 

However, Following the move last night and the immediate Higher High I feel there is a decent opportunity using the ATC strategy.

 

I am looking for a long position as detailed below.

 

Levels and Chart below:

 

Entry: 141.05

 

Stop Loss: 140.75

 

Target: 142.55 (5%)

 

 

 

I will update again should the position be opened.

 

Namaste

 

MDT

 

GBP / JPY: Wednesday 9th April 2014. 12:51hrs

GBP / JPY:

Price has been making lower lows and lower highs since the 3rd of April 2014.

Price has been consolidation just above the Daily Pivot Point (DP) at 170.80 area.

I am looking for a break of the DP to enter a short position with the shorter term trend.

Levels and Chart below:

Entry: 170.65

Stop: 171.05

Target: 168.00

 

 

I hope you are having a great week

 

Namaste

 

MDT

NZD / USD: Wednesday 2nd April 2014. 07:52hrs

NZD / USD:

Price has formed a double top formation on the 60 minute chart.

Price has broken down, made a new low and the averages have crossed over.

I am looking for a short position as detailed below.

Levels and chart below:

1st Entry: 0.8625
2nd Entry: 0.8640

Averaged Entry: 0.8632

Stop Loss: 0.8672

Target: 0.8432

 

I will update again when the position has been opened.

 

Namaste

 

MDT