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Friday, August 28, 2009
eurusd 082009
Trade NotebookCurrency Pair : EUR/USD Date: Thursday, August 20, 2009Bullish viewElliott Wave:Here we have a double zigzag with lots of potential to go to the upside. It would still be a wave C and should not go past the 1.60 top.Classic:The trendline that has been holding since Feb is still holding and prices bounced off indicating short term strength. Bearish viewComment:Elliott Wave: A leading diagonal could be forming, but also a start of a...
Trade Update - August 18, 2009Currency Pair : EUR/USDStatus: Closed out. EURUSD seems to be moving in 3's and is unable to break through the lower trendline. Best is to close out now and wait for further development. Trading is dynamic and the market always changes. Best is to take profit when the market makes it available to you. When it is about to close the window of opportunity, it is best to take profit and wait for the next opportunity.Comment:Elliott...
Dow Analysis 81209
Dow Jones ChartBack in February I did a number of Dow Jones analysis’ where I predicted the temporary bottom of 7000, it actually went to 6500. Since then we have seen an uptrend, but very important, the uptrend cannot be counted as an impulse. It is a correction and most likely an WXY double zigzag correction. The prediction in February was a Dow back to 9500-10000 area. That is happening as we speak, we are already at the bottom of the target area...
Trade update eurusd 081209
Trade UpdateCurrency Pair : EUR/USD Comment:Elliott Wave: Trading is dynamic and things change. It appears to be an irregular bottom here, or better known as “expanded flat” where wave b exceeds the bottom of wave 5. The problem with this structure is that there in no real good guideline to determine where wave c is going to land. It could be anywhere. As a guideline wave c=a*1.38, but could also be a*2.0 or anything in between. Since we don’t know...
analysis eurusd 080909
EURUSD AnalysisCurrency Pair : EUR/USD August 9, 20091-hour Comment:Elliott Wave: The 4h chart is not as clear as the weekly or the hourly chart. Price was unable to penetrate the 61.8% resistance @1.46 and stalled at 1.4445 where a double top was formed. I am now waiting for confirmation in form of a 5 wave decline and 3 wave up. But the fact that in wave 5, the territory of wave 1 was violated, gives me confidence that we are dealing with a reversal....
Update GBPUSD
Update on the GBPUSD trade: Closed out all positions. The current wave structure is not clear. We could have a wave 3 top with potential for another run up, or we could have a long term top at 1.70. The indicators are bearish and eventhough we might get a run up, it is unlikely that this week a new top will be set. The risk has increased to hold on to this trade much longer. result: Entry 1.6590 TP1 @ 6850 = 260 pips TP2 @ 6850 = 260 pips TP3...
GBPUSD update
Here is an update on the GBPUSD trade from Friday. Entry was as 6590. I deviated from the plan and took 2 lots out at 1.6850. Moved stop to b/e on the 3rd lot. Profit now 520 pips. Reason is that 3rd wave is close to its extension max and the target of 1.70 was above the 1.618 extension of wave...
eurusd trade result
Here is the result from Thursday's trade: All targets hit! Entry 1.4012 First Target 1.41 = 88 pips Second Target 1.42 =188 pips Third Target 1.43= 288 pips Total 564 pi...
