GBP/USD 31 JULY 2012

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We are still in the bullish AB swing on this pair.

FOR TODAY:

We now need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade set-ups.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking for a retracement down to the 618/786 of this AB swing for a long trade setup. Place stop 10 pips below the low of the cs formation, max 1% risk.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 31 JULY 2012

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Price broke the A low yesterday starting the reversal process on this timeframe.

FOR TODAY:

We now looking for a retracement to 2326 at least followed by a bearish cs formation for a short entry.

A sustained break of 2389 negates this view and continues the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

We need price to rally to 2326 or higher followed by a bearish cs formation for a short entry. Place stop 13 pips above the cs formation, max 1% risk. Limits defined at time of entry.

If we don’t get the setup we are looking for then we don’t trade.

LONG: WILL ONLY BE GOING LONG TODAY IF

No long entries at present since we are in reversal.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 31 JULY 2012

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Price broke the B high and we still waiting for a new B for the AB swing.

FOR TODAY:

Once we have a B high we will need to wait for a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No shorts are considered during the retracement.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking for a B high, then a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 31 JULY 2012

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We are still in the same AB swing from yesterday. Price is attempting to break the B high.

FOR TODAY:

If the high holds then we need to wait for aretracement down to the 618/786 of this swing for a long trade set-up, else if price rallies beyond the B, then we need to wait for a new B high to form.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade setups during the retracement.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 31 JULY 2012

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We still in the AB downswing on this chart, price is attempting to break the B low.

FOR TODAY:

We need to wait to see if price breaks the B low or pulls back into the swing. If we break then we will have a new AB swing in play. If price pulls back into the range then we looking for a retracement to the 618/786.

If we don’t get the set-up we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need price to retrace up to the 618/786 of this swing for a short trade setup, either this current swing, or the new one if price sustains the break of the B.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups at present.

If we don’t get the setup we are looking for then we don’t trade.

GBP/USD 30 JULY 2012

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Price rallied yesterday to take out the A high starting a reversal on this timeframe.

FOR TODAY:

We now need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade set-ups.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We are looking for a retracement down to the 618/786 of this AB swing for a long trade setup. Place stop 10 pips below the low of the cs formation, max 1% risk.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 30 JULY 2012

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Price rallied to break the B high on Friday giving us a new AB swing.

FOR TODAY:

Price retraced but didn’t get to the 786 as yet, we will wait for a retracement to the 786 where we will look for support and a bullish cs formation.

A sustained break of 2241 negates this view and starts a reversal on this timeframe.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

No short trade set-ups unless we get failure circa 2365.

If we don’t get the setup we are looking for then we don’t trade.

LONG: WILL ONLY BE GOING LONG TODAY IF

We get down to the 786 followed by a bullish cs formation for a long trade setup. Place stop 10 pips below the low of the cs formation, max 1 % risk.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 30 JULY 2012

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Price broke the B high giving us a new AB swing.

FOR TODAY:

We now need a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No shorts are considered during the retracement.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

WE are looking for a retracement down to the 618/786 of this swing for a long entry.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 30 JULY 2012

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Price rallied to break the A high resuming the uptrend on this pair.

FOR TODAY:

We need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short trade set-ups during the retracement.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 30 JULY 2012

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We have a new AB downswing on this chart.

FOR TODAY:

We now need a retracement up to the 618/786 for a short trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need price to retrace up to the 618/786 of this swing for a short trade setup.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups at present.

If we don’t get the setup we are looking for then we don’t trade.

GBP/USD 27 JULY 2012

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Price rallied yesterday towards the A high but never took it out.

FOR TODAY:

Today is a DA86 trading day where we will look for a test of the high followed by a clear bearish cs formation for a short trade setup.

A sustained break of 5736 negates this view and starts a reversal on this timeframe.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We will look for a test of the high followed by a clear bearish cs formation for a short trade setup. Place stop 13 pips above the high of the cs formation, max 1% risk, limits down at 5530.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We get a dip followed by a clear bullish cs formation, telling us that price might be targeting the highs.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 27 JULY 2012

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Price rallied sharply yesterday and poked through the A high but hasn’t yet closed above it.

FOR TODAY:

Today will be a DAAH trading day where we will look for a test of the high followed by a bearish cs formation for a short entry.

A sustained break of 2323 negates this view and starts a reversal on this timeframe.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

We need a test of yesterdays high followed by a clear bearish cs formation for a short trade setup, Place stops 13 pips above the high of the cs formation, max 1% risk, limits at 2120.

A sustained break of 2323 negates this view and starts a reversal on this timeframe.

If we don’t get the setup we are looking for then we don’t trade.

LONG: WILL ONLY BE GOING LONG TODAY IF

We get a dip followed by a clear bullish cs formation, this will serve as a test of yesterdays rally.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 27 JULY 2012

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Price rallied and stalled just after the 86 of this swing.

FOR TODAY:

We will look for a test of yesterdays high, or even the A high followed by a bearish cs formation for a short trade setup.

A sustained break of 1.0443 negates this view and starts a reversal on this pair.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

Today is a DA86 trading day where we will look for a test of yesterdays high, or even the A high followed by a clear bearish cs formation for a short trade setup, place stop 13 pips above the cs formation, max 1% risk, limits down at 1.0120.

A sustained break of 1.0443 negates this view and opens the upside, continuing the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We will consider buying a dip followed by a clear bullish cs formation, with a view to taking out the B high.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 27 JULY 2012

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Price rallied to the 786 of this swing thus far.

FOR TODAY:

Today is a DA786 trading day where we will look for a test of yesterdays high, or even the A high followed by a clear bearish cs formation for a short trade setup, place stop 13 pips above the cs formation, max 1% risk, limits down at 7870

A sustained break of 8074 negates this view starts a reversal on this timeframe, resuming the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We will look for a test of yesterdays high, or even the A high followed by a clear bearish cs formation for a short trade setup, place stop 13 pips above the cs formation, max 1% risk, limits down at 7870

A sustained break of 8074 negates this view starts a reversal on this timeframe, resuming the uptrend.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We will consider buying a dip followed by a clear bullish cs formation, with a view to taking out the A high.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 27 JULY 2012

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Price fell all the way down to the B low, today we will look to see if price continues down.

FOR TODAY:

Today we will look to see if we get a pull-back followed by bearish resumption on this chart.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We will wait for a pullback followed by a bearish cs formation for a short trade with price heading for the B low on a sustained basis.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

Long trades can be considered if we get a test of yesterdays low followed by a clear bullish sc formation. Stops are 10 pips below the low of the cs formation, max 1% risk.

If we don’t get the setup we are looking for then we don’t trade.

GBP/USD 26 JULY 2012

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We are still waiting for an established  B swing low to form since we broke the B low yesterday.

FOR TODAY:

We then need to wait for a retracement up to the 618/786 of this swing for a short entry.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need price up at the 618/786 followed by a clear bearish cs formation for a short trade setup, but first we need to wait for an established B swing low.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups at present.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 26 JULY 2012

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Price broke the interim high closing the gap from Asian session on Sunday.

FOR TODAY:

We are still looking for a deeper retracement to 2215 or even the 786 up at 2263.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

We need a retracement to the 618/786 of this swing for a short trade setup.

If we don’t get the setup we are looking for then we don’t trade.

LONG: WILL ONLY BE GOING LONG TODAY IF

We can wait to see if price tests 2090 before continuing up, if we get a bullish cs formation at that level we can enter long for target higher.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 26 JULY 2012

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We have a definite 786 bounce on this pair.

FOR TODAY:

We have a DA786 trading day where we are looking to buy after dips followed by bullish cs formations.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No trade setup for a short until 1.0385 is reached, where after we will look for bearish cs formations.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We have a DA786 trading day where we are looking to buy after dips followed by bullish cs formations with limits set at 1.0375.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 26 JULY 2012

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We have a new B swing low with a bounce to the 382 thus far.

FOR TODAY:

We need to wait for a retracement to the 618/786 for a sell entry.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We will wait for a retracement up to the 618/786 for a short entry.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups today.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 26 JULY 2012

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Price U turned midway between the 618 and the 786 of the AB swing thus far.

FOR TODAY:

We have a DA618 trading day where we are looking to sell after a rally followed by a bearish cs formation.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We have a DA618 trading day where we are looking to sell after a rally followed by a bearish cs formation. If we get the test and the current setup doesn’t hold then we look to the 786 higher up to offer resistance.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trades at present.

If we don’t get the setup we are looking for then we don’t trade.

GBP/USD 25 JULY 2012

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We are still in the AB swing with the B low down at 5484, with the A up at 5736.

FOR TODAY:

We need to wait for a retracement up to the 618/786 of this swing for a short entry.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need price up at the 618/786 followed by a clear bearish cs formation for a short trade set-up.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups at present.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 25 JULY 2012

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We have a new AB swing in play with price having taken out the B low yesterday.

FOR TODAY:

We need to wait for a retracement up to the 618/786 of this swing for a short setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

We need a retracement to the 618/786 of this swing for a short trade setup.

If we don’t get the setup we are looking for then we don’t trade.

LONG: WILL ONLY BE GOING LONG TODAY IF

No long trade setups at present.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 25 JULY 2012

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Price fell yesterday just shy of the 786 and has bounced off it thus far.

FOR TODAY:

We will buy a test of the 786 after bullish cs formations.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No trade set-up for a short.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We will wait for a test of the 786, followed by another bullish cs formation telling us that its holding.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 25 JULY 2012

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Price continued to fall yesterday, breaking the A low and starting the reversal process on this timeframe.

FOR TODAY:

We now need to wait for a retracement to the 618/786 for a sell entry.

If we don’t get the set-up we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We will wait for a retracement up to the 618/786 for a short entry.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups today.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 25 JULY 2012

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Price rallied past the 618 of the AB swing thus far, we are midway to the 786.

FOR TODAY:

With the break of the 618, we are looking to the 786 to offer resistance, unless this bearish cs holds.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We will wait to see if this bearish cs holds since its midway between the 618 and 786, if it doesn’t then we look to the 786 higher up.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trades at present.

If we don’t get the setup we are looking for then we don’t trade.

GBP/USD 24 JUNE 2012

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We have a new AB swing with the B low down at 5484, with the A up at 5736.

FOR TODAY:

We now need to wait for a retracement up to the 618/786 of this swing for a short entry.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need price up at the 618/786 followed by a clear bearish cs formation for a short trade set-up.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups at present.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 24 JUNE 2012

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We have a new B low in place down at 2066.

FOR TODAY:

We need to wait for a retracement up to the 618/786 of this swing for a short setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

We need a retracement to the 618/786 of this swing for a short trade setup.

If we don’t get the setup we are looking for then we don’t trade.

LONG: WILL ONLY BE GOING LONG TODAY IF

If we get another test of the B low before we close the gap then we can enter a long trade to close the gap.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 24 JUNE 2012

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We have a deeper retracement, but still shy of the 618 thus far.

FOR TODAY:

We now have to wait for a retracement down to the 618/786 of this swing.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No trade set-up for a short.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 24 JUNE 2012

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We had no retracements on Kiwi since falling on Friday. We will wait patiently for one.

FOR TODAY:

We will sell after a rally followed by a bearish cs formation with limits down at 7853.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We will be looking for a rally followed by a bearish cs formation for a short trade setup with limits down at 7853.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups today.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 24 JUNE 2012

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price rallied to the 618 of the AB swing thus far.

FOR TODAY:

We need now need a bearish cs formation from current levels, or higher up for a short entry.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need a test of the 618 followed by a bearish cs formation for a short entry, if the 618 doesn’t hold, then we look to the 786 higher up.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trades at present.

If we don’t get the setup we are looking for then we don’t trade.

GBP/USD 23 JULY 2012

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Price fell on Friday and overnight, we are shy of the A low on this pair.

FOR TODAY:

We are in buy territory, but will wait out today to see if we get a bullish cs formation that holds. There is a chance that we might break the A low starting a reversal on this timeframe. If we find support here today then we will wait for a test tomorrow, else a break opens the downside.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No short set-ups today.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We get a bullish cs formation from current levels, but if we do get a bounce it is preferable to wait for tomorrow to get a test followed by another bullish cs formation as confirmation.

A sustained break of 5553 negates this view and opens the downside.

If we don’t get the setup we are looking for then we don’t trade.

EUR/USD 23 JULY 2012

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Price fell on Friday without giving us the rally and a bearish cs formation.

FOR TODAY:

We now have a new AB bearish swing in play, with resumption of downtrend on this timeframe. We need to wait for a retracement up to the 618/786 of this swing for a short setup.

Since we had a gap open, long trades are considered if we get a clear bullish cs formation to close the gap.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: WILL ONLY BE GOING SHORT IF:

We need a retracement to the 618/786 oif this swing for a short trade setup.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: WILL ONLY BE GOING LONG TODAY IF

We had a gap open last night, if we get a clear bullish cs formation we might get a rally to close the gap. Tis could be an opportunity to grab some 20-30 pips.

If we don’t get the setup we are looking for then we don’t trade.

AUD/USD 23 JULY 2012

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Price retraced to the 382 of the AB swing thus far.

FOR TODAY:

We now have to wait for a retracement down to the 618/786 of this swing.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

No trade set-up for a short.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

We need a retracement down to the 618/786 of this swing for a long trade setup.

If we don’t get the setup we are looking for then we don’t trade.

NZD/USD 23 JULY 2012

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Price fell after slight retracement on Friday, we exited after 30 pips profit to closeout before the weekend.

FOR TODAY:

We will sell after a rally followed by a bearish cs formation.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We will be looking for a rally followed by a bearish cs formation for a short trade setup with limits down at 7853.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups today.

If we don’t get the setup we are looking for then we don’t trade.

US DOLLAR 23 JULY 2012

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price rallied off the B lows on Friday, we are shy of the 50.

FOR TODAY:

We need a retracement back to the 618/786 for a short trade setup.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need a retracement up to the 618/786.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trades at present.

If we don’t get the setup we are looking for then we don’t trade.