AUD / JPY: 07.02.13 17:21HRS

AUD / JPY:

Aussie Yen has a head and shoulders formation in play on the 60 minute time frame, shown below.

Chart below:

Price has this afternoon broken through the trend line shown in red and made an immediate new low.

I am look for a short entry on a pull back to the the trend line and the Fibonacci levels.

My entry levels and chart are below.

1st Entry: 96.25
2nd Entry: 96.40

Averaged Entry: 96.32

Stop Loss: 96.65

Target: 94.65 (5% and Daily 20 ema)

 

I will update again should the trade be triggered

 

Regards

 

 

GBP / USD UPDATE: 05.02.13 04:45HRS

Cable:

I have been stopped out for a profit of 1%.

The high over night is 1.5771.

The chart is below:

 

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

 

Regards

GBP / USD UPDATE: 04.02.13 18:21HRS

Cable:

The has been little change today.

Price has retraced a little and now stands at 1.5750

My stop remains at 1.5770

I am looking for a move back down in the next 24hrs.

Chart below:

 

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

Regards

GBP / USD UPDATE: 04.02.13 04:44HRS

Cable:

Price has found a little support over the Asian session at around 1.5700.

I am looking for Price to break the swing low at 1.5670 before making the move to my 5% target.

There is a chance that price may pull back a little first.

My stop remains at 1.5770

Chart below:

 

I will update again later this Afternoon / Evening or if a new strategy trade is identified

 

Have a good day

 

Regards

 

 

GBP / USD UPDATE: 01.02.2013 19:57HRS

Cable:

Price has moved down as expected and the position is in profit by 2.8%

Price is currently 1.5712

I have moved the Stop Loss to 1.5770 locking a minimum return of 1%

Chart below:

 

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

 

I hope you all have a great weekend.

 

Regards

 

 

GBP / USD UPDATE: 01.02.2013 14:52

Cable:

I am short cable from 1.5805.

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

Current price is 1.5765

My target is at 1.5630 for 5%

Chart below:

 

I will update again later this evening

 

Regards

 

 

GBP / USD: 01.02.2013 11:51HRS

Cable:

Cable is in a down trend

Chart below:

 

 

Price has retraced to a previous resistance level and has been rejected. (as shown by green line)

 

Price has now broken down through the short term averages and I am looking for a short position with the trend.

 

I do not have an order as the NFP data is due to be released at 13:30hrs so I will look to enter short on a break down through the red trend line shown on the chart below.

 

 

 

If price breaks up I will let it go.

 

If it breaks down I will try to get a decent entry as it moves.

 

I will update again later this afternoon.

 

Regards