GBP/USD 21 Dec 2012 - 4HR Chart

GBP/USD has entered the buy zone. I recommend that you buy at the current levels (1.6202), set the SL at 1.6135, TP should be around 1.6320 or higher.

Elliot Wave Count - What we are seeing now could be the wave 4 coming to end so we are trading wave 5.

EUR/USD 7 Dec 2012 - 1HR Chart

After yesterdays strong downward move by the EUR/USD we definitely should avoid opening buy positions. Looking for sell opportunities at around the top region on the 1hr chart marked with a yellow line. The target area is the bottom yellow line that is the diagonal which can be seen on the 4hr chart (the 1st chart).

Elliot wave count - Strong wave 3 formation is quite clear on the 1hr chart. We should expect a shallow wave 4 correction (has already started), then we enter for the 5th wave.

Open positions: Sell @ 1.2985 - 1.2998 region
SL: 1.3018
TP: 1.2930 - 1.2920 region

If our SL is hit then we should start looking for more buy opportunities.

GBP/USD 4 Dec 2012 - 4HR Chart

 

 

Buy GBP/USD so long as the bottom yellow line/resistance level has not been broken. First target is at the diagonal line at around 1.6140 - 1.6160 area.

Open positions: Buy

TP: 1.6140 - 1.6160 area (on the diagonal line)

SL: 1.6050

GBP/USD couldn't reach our TP and the SL got hit. Result 15 to 50 pips loss. Look for sell opportunities on this pair for now.

USD/JPY 3 Dec 2012 - 1HR Chart

Open long positions at the current price region - 82.20 - 82.30. the target is the price region 85.50. Then sell at that level - 82.50 - with the first target at 82.20. Stop Loss for the long position should be at 81.88.

Preferred Strategy - A less risky strategy would be to wait until for the price to reach 82.50 then sell.

If you opened long positions then SL was hit @ 81.88 (~ 60 - 50 pips loss)
If you followed the less risky sell recommendation, then TP was hit @ 82.20 (30 pips profit)

NZD/USD 3 Dec 2012 - 4HR Chart

Elliot wave count - Wave 2 seems to have completed forming. Look upside move as shown by the arrows. Buy nzd with 1st target at around 0.8245. Prices may bounce when they reach the diagonal trend line, if the trend line is broken then we will continue buying towards 0.8355.

Chart: 4hr
Open positions: Long/Buy
SL: 0.8165
TP1: 0.8240/5
TP2: 0.8356 (if diagonal trendline is broken)

Profit of +55pips was made from this trade idea. Take profit at 0.8245 was hit.
The pair broke the yellow trendline and continued to go up as expected.

EUR/JPY 30 Nov 2012 - 4HR Chart

Elliot wave count - From the 4hr chart above it seems that wave 2 completed its formation. Wave 3 has started forming and I would recommend only long/buy positions for this week and next week. Our first target should be at around 108.00 - 108.10 region. You can place your stop loss at around 106.40 for now.

The breaking of the diagonal line will also invalidate this trade, thus you can close your long positions when this line is broken.

EUR/USD 28 Nov 2012 - 1HR Chart

Elliot wave count - Wave 4 is almost over...wave 5 should take us to around 1.3020 region

Prices have entered our buy region. Open long positions with the Target at 1.3020.

This trade should have got you a +130 pips profit

EUR/USD 27 Nov 2012 - 1HR Chart

 

Wave 5 has certainly formed and we should expect an ABC correction for the rest of the week.

EUR/USD has just confirmed its bearish tendancy for this week. I recommend opening sell position only at the peaks, preferably at around 1.2975 stop loss at 1.3010 and first target (TP) at 1.2905 - 1.2885 region.

If you followed my trade recommendation from this post, then you should have got 60-80pips profit

EUR/USD – 26/11/2012 – 30/11/2012 Daily Chart

Looking at the daily charts I am expecting a slight reversal towards 1.2900 – 1.2870 region before a commencement of the uptrend.

A less risky strategy would be to wait for a reversal to this region (1.2900 – 1.2870), then start buying with the target at 1.3290 area.

Prices did enter our buy region and continued the uptrend

EUR/NZD 26/11/2012 – 30/11/2012 Daily Chart

Sell at the current price (1.5744). Look for short opportunities throughout the week with 1.5445 as the target.