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EUR/CHF Hello traders, few hours ago price just breakthrough the level that I talked about yesterday. This support line should now become significant resistance level to push price much lower. So, I am still short at EUR/CHF from yesterday with stops above 1,6085. My target is still around 1,5906 – 1,5886. 4h chart
EUR/USD Yesterday target did not reach my offers after Bernake speech so I moved my offers for 20 pips higher from yesterday, reason is because price made new high at 1,5124. I must say that I really like to count waves like this. Anyway, I will try to jump in at 38,2% of Fibonacci support, around 1,500 with 40 pips of stop loss. | |||
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USD/JPY On this pair we have similar situation like on EUR/USD. Prices slow down a little after Wednesday, so maybe is now the right time to prepare on another opportunity to go short. First wave i of impulsive wave 3 is already done with nicely move of five waves, right now I am expecting correction zigzag in wave ii with possible high around 107,00 where is very powerful trend line resistance and Fibonacci levels 38,2% and 50% of the previous wave i. I will put my offers between 106,85 – 107,00 with stops above 107,30.Grega. 30min chart
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Hello traders, we saw very crazy Tuesday, price exploded out of the ranges, Eur-USd made new high and is still making it, nobody knows where should be the end of it. Usd-Jpy is on the way to new lows, I exited from yesterday's position at 107,05 like I planed, to soon I should say if we look at the price market now. Right now I don't have any offers on this pair, but wait for retricement to jump in again. EUR/USD Yesterday would be the best day if I would also be in on this one, unfortunately I wasn't. But I am still looking forward for new euro highs, anyway before I will get involved I would like to see retricement to near previous wave (iv) around 1,4960 – 1,4980, where I will put my offers with stops bellow 1,4930. Right now is price around 1,5060, it's very near to my Fibonacci resistance levels, so here trend should slowdown a little and turn in to the level that I mentioned above. See you soon, Grega.
EUR/CHF I am also went short on this pair at 1,6140 with stops above 1,6175 and I still didn't move them, I just gave market enough room to breath. We are in very critical level right now, price is sitting in a lot of support lines, which trend should break in the near future. For now is not question “if will break it, only when it will break it.” After the breakout I will aggressively start selling and move my stops above support lines, in this case will my targets be around 1,5886 – 1,5906. So right now I will just wait on this moment to see what'll happen. Grega. | |||
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After today's news we saw dollar weakness and I believe this will continue in next days, weeks. if we talk about dollar weakness then we should see moves against it. I am talking about USD/JPY. USD/JPY After the news report I was watching very closely this pair, so I grab the opportunity and jumped in. It seems like we are in down trend, which could have very strong effect on larger move, especially if trend will breakthrough the lower trend line support which should be very, very strong resistance after break out. In this trend line will be my exit point, around 106,95 - 107,08. I am short from 107,70 with stops above 107,90. If we check the picture we see bear counting from end of wave 2 . For now I am waiting on first impulsive wave i of 3 , in this case would support trend line be the ideal end of wave i. Back with you tomorrow, Grega. | |||
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Hello Traders, welcome in to another week of trading in which I will try to be good at least half as the last week. On Friday at USD/JPY we made some profit on down site, but after breaking level 108,00 again, I believe that we will see price much higher like 108,60 from previous week. For now I will just watch this pair, because market need some time to develops how it wants to. EUR/JPY This one is right now more interesting to me like USD/JPY. I paid attention on my Fibonacci levels at daily chart and this changed my view on counting that I published last week. If take a better look then we could see that wave C (pink) found support at 76,4% of previous wave B (pink), and now also small wave b of wave a on the way up.. . This could be the moments for buyers, especially if will price break resistance 159,47, then we should see continuation to wave D of the 3-3-3-3-3 triangle. Anyway, before I will get involved I would like to see some retricement to around 155,50, which could be the one of the five waves up in the last wave c. So no offers for me yet. Nice day, Grega. | |||
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UPDATE: Like I said it before I am very glad that I published so many positive trades this week, so I hope that you took some advantage of my analyses. Here are results from trades that I posted this week. EUR-JPY / two positions/ 145 pips GBP-USD / three positions/ 210 pips USD-JPY / one position/ 61 pips TOGETHER 416 pips I hope that we will see more weeks like this one, but we must also realize that we can't be profitable all the time. But we can improve our selves in trading “ all the time”. | |||
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I am glad to be out on cable, after such a drop down in the last few hours. Cable made it high at 1,9736, just 2 pips from exit point that I mentioned yesterday. I closed position at 1,9710 with 105 pips of profit. I like it!! Right now I will stay out on this one. Like in the hell we could say to the last trade of the week… Honestly, we all know that it's very hard to find the highest high to go short, and this is because we need confirmation in the trend. At this confirmation I saw when price broke down in to the triangle, bellow 107,96. So here was my entry point, I was very late to catch this pips so I decided to move my stops above the high, around 108,65. This is high risk position. But we must realize that after such a move down, we have to make space that price can breath. Anyway, we are in very critical level, from this point trend can move up or down. If price will bounce from upper trend line then we will surly see new highs, but I will pray for today strongest JPY… Today we are also expecting news. So let's see what will bring us market today. | |||
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UPDATE: USD/JPY I watched this pair all last week and simply trend did not give any opportunity to make money. Price reaction was very messy, so I tried to recognize correction that is developing in wave 2. I thing that correction could be almost at the end. Price made high at 108,37 and pushed back down to trend line support connected from wave I and II. In this area trend could bounce from this support line to new highs. Anyway, I don't have any thoughts to go long, I will wait if price will move back in the triangle, which after breaking should become resistance, and last fifth wave of this triangle would be a “throw-over”. In this case I will go short with stops around 50 pips. Be careful wtih your trades, today we also expecting important news for USD. | |||
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I must say that I am really satisfied with start of the week like this. I already opened two positions, EUR/JPY short and GBP/USD long, but everything happened too fast to inform you about this. EUR/JPY I am short on this one from 155,91 and already moved stops to 155,40 to protect gains. I am short in the last wave V. I jumped in after breaking the red line in wave 4, so right now I expect five waves down, with target 153,00 – 153,50, where is also 61,8% of wave III AND 261,8% of wave I. Honestly it will be very hard to make it all the way down, I will have to be very carefully with my stops and allow market to breath. | |||
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| Disclaimer |
These recommendations are for demonstration purposes only. You must do your own research and make your own investment decisions. Past performance is not necessarily indicative of future results. Before forex trading you should understand the risks associated with these trades including the potential loss of the entire premium paid. No representation is made that any account is likely to achieve profits or losses as indicated in our interactive portfolio. Capital Forex Group LLC and its owners are not liable for any losses, monetary or otherwise, that result from the content of this and any newsletter published by Capital Forex Group LLC. Please realize the risk with any investment and consult investment professionals before proceeding. Trading foreign exchange/Forex involves substantial risk of loss and is not suitable for everyone. |
