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.