GBP/USD 5 MARCH 2012

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No trade setup on Friday for Cable. Price fell to the 50 of the AB swing.

FOR TODAY:

We are in no man’s land on Sterling – We need price at the 618/786 of this swing followed by a bullish cs formation for a long trade set-up.

Else shorts are only considered once we hit the BF786 followed by a bearish cs formation.

SHORT: Will be going short only IF:

We get another attempt at the highs followed by a bearish cs formation. Stop will be 13 pips above the high of the cs formation. Limits will be defined at the time of 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:

We need price down at the 618/786 and a bullish cs formation for a long trade setup. Place stop 10 pips below the low of the cs formation, limits advised at time of entry.

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

EUR/USD 5 MARCH 2012

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No trade setup on Friday, price dipped  and found support around 3186.

FOR TODAY:

We are at the A low of the AB swing, we will buy a clear bullish cs formation if we get one from current levels.

  

SHORT: WILL ONLY BE GOING SHORT IF:

No short trade setups, stand aside.

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

LONG: WILL ONLY BE GOING LONG TODAY IF

We need a clear bullish cs formation from current levels. Stop 10 pips below the low of the cs formation, limits here will be at the BF786, it will be a ST setup.

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

AUD/USD 5 MARCH 2012

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No trade setup on Aussie Friday. Price made its way down, and we are close to the 618 of this swing.

FOR TODAY:

We will be looking to either buy at the 618/786 of this AB swing, or sell at the BF786, both after confirming cs formations.

SHORT: Will be going short only IF:

We get a rally to the BF786 and price then gives us a bearish cs formation. Place stop 13 pips above the high of the cs formation, limits advised then.

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 price to hit the 618/786 followed by a bullish cs formation for a long trade setup. Place stop 10 pips below the low.

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

GBP/USD 2 MARCH 2012

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No trade setup yesterday on Cable. Price did however rally to the BF786.

FOR TODAY:

Since we have already hit the BF786 we will be looking for a short trade opportunities being a DABF786 trading day. Note that this is in conflict with the Euro, so if we get opposite entries, remember one of them will be stopped out. Either take both entries if they present themselves, or stay out.

SHORT: Will be going short only IF:

We get another attempt at the highs followed by a bearish cs formation. Trade this for a 70 pip fall since it’s a shallow bounce. Stop will be 13 pips above the high of the cs formation.

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 need price down at the 618/786 and a bullish cs formation for a long trade setup. Place stop 10 pips below the low of the cs formation, limits advised later.

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

EUR/USD 2 MARCH 2012

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No trade setup on EUR yesterday, price dipped past the 618 and found support at 3280.

FOR TODAY:

We are still in the 618 area of the AB swing, we will buy a bullish cs formation if we get one from current levels, or lower down at the 786.

SHORT: WILL ONLY BE GOING SHORT IF:

We need a rally to the BF786 followed by a bearish cs formation for a short entry, place stop 13 pips above the high of the cs formation, limits down at 3250 – assuming yesterdays low holds, else the limit will change.

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

LONG: WILL ONLY BE GOING LONG TODAY IF

Price has broken through the 618 and we are back there again, a bullish cs formation from current levels will be a long trade setup, telling us that yesterdays low is holding. If this fails then we have a 786 lower down, trade a bullish cs formation after price hits the 786. Stop 10 pips below the low of the cs formation, limits for the 618 entry will be 70 pips, and the 786 will be a ST.

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

AUD/USD 2 MARCH 2012

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No trade setup on Aussie yesterday. Price ticked up for most of the day but never reached the BF786.

FOR TODAY:

We will be looking to either buy at the 618/786 of this AB swing, or sell at the BF786.

SHORT: Will be going short only IF:

We get a rally to the BF786 and price then gives us a bearish cs formation. Place stop 13 pips above the high of the cs formation, limits advised then.

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 price to hit the 618/786 followed by a bullish cs formation for a long trade setup. Place stop 10 pips below the low.

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

The total pips made for February 2012 amounted to 625 pips for all three currencies combined.

These trades were called LIVE on Stocktwits.com/FXG and posted on twitter as well. These daily calls can be viewed on www.stocktwits.com/FXG 

Follow me on twitter @fxdailyforecast  where I tweet all my trading calls.

GBP/USD 1 MARCH 2012

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We were stopped out of our short trade yesterday for a 20 pip loss, price rallied and then created the B high we were looking for, price has now started the reversal process on this timeframe.

FOR TODAY:

We have a B high at 5991; we will now be looking to buy at the 618/786 of this new AB swing.

Else shorts are only considered once we hit the BF786 followed by a bearish cs formation.

SHORT: Will be going short only IF:

We get another attempt at the highs followed by a bearish cs formation. Trade this for a 70 pip fall since it’s a shallow bounce. Stop will be 13 pips above the high of the cs formation.

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 price down at the 618/786 and a bullish cs formation for a long trade setup. Place stop 10 pips below the low of the cs formation, limits advised later.

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

EUR/USD 1 MARCH 2012

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We traded short yesterday and limited out at 70 pips profit. Price fell further almost to the 618 of the AB swing.

FOR TODAY:

Today is a DA86 trading day; we are looking for price to continue down, looking to enter after rallies and a bearish cs formation.

SHORT: WILL ONLY BE GOING SHORT IF:

We are looking for a rally and a bearish cs formation for a short entry, place stop 13 pips above the high of the cs formation, limits down at 3260.

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

LONG: WILL ONLY BE GOING LONG TODAY IF

We need price to bounce off the 618/786 followed by a bullish cs formation. Stop 10 pips below the low of the cs formation, limits for the 618 entry will be 70 pips, and the 786 will be a ST.

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

AUD/USD 1 MARCH 2012

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We were stopped out of our short entry yesterday with rice rallying to the 1.0855 high, we lost 33 pips on that trade. With price having taken out the 1.0815 high, we have started the reversal on this timeframe. Price has since retraced to the 50 of this AB swing already.

FOR TODAY:

We will be looking to either buy at the 618/786 of this AB swing, or sell at the BF786.

SHORT: Will be going short only IF:

We get a rally to the BF786 and price then gives us a bearish cs formation. Place stop 13 pips above the high of the cs formation, limits advised then.

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 price to hit the 618/786 followed by a bullish cs formation for a long trade setup. Place stop 10 pips below the low.

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