EUR/USD 6 FEBRUARY 2012

EUR/USD

Price fell to the BF786 on Friday and gave us a bullish cs formation which we just got stopped out of now.

FOR TODAY:

Price is at the BF86 at present, any bullish cs formation here would be a long entry setup, a break of the 3025 B low will be confirmation of the reversal on this timeframe.

SHORT: WILL ONLY BE GOING SHORT IF:

We need another rally and a bearish cs formation for a short entry, stop 14 pips above the high of the cs formation, max 1.5% risk.

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're in BF786 buy territory, but in order to go long we first we need a bullish cs formation as confirmation. Trade the bullish cs formation to the 3232 highs, stop 10 pips below the low of the cs formation, max 1.5% risk.

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

NFP FUNDY TODAY 3 FEBRUARY 2012

We will not be trading today since its NFP day. 


IF there is a clear set-up after the announcement I will post it. Else stay out to return to trading on Monday.

GBP/USD 3 FEBRUARY 2012

GBP/USD

Price crawled down to the 50 fib level yesterday and bounced off it during the Asian session. We are still in no man’s land according to our strategy on Sterling.

FOR TODAY:

Today is NFP day so we will not be trading today, unless we get a clear setup after the announcement and price has calmed down a bit. We can only sell after a BF786 and after bearish cs formations, or buy after bullish cs formations after price hits the 618/786 of this AB swing.

SHORT: WILL ONLY BE GOING SHORT IF:

Price rallies to the BF786 and then gives us a bearish sc formation.  The limits for this entry will be down at 5770. Stops 14 pips above the high of the cs formation, max 1.5% risk.

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 retracement to the 618/786 and a bullish cs formation for a long trade setup. Trade the 618 for 60-70 pips and the 786 will be a ST to the BF786. Stops 10 pips below the cs formation, max 1.5% risk.

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

EUR/USD 3 FEBRUARY 2012

EUR/USD

Price bounced off the 86 level but we are basically back where we were yesterday. We need another bearish cs formation to push price down a bit. With NFP volatility can cause havoc.

FOR TODAY:

We will look for a fall today, maybe after a test of yesterday’s highs again. The uptrend will resume on violation of 3232, below that our sentiment remains short.

SHORT: Will be going short only IF:

Price already hit the 86 followed by a bearish cs formation. Today will be a DA86 trading day where we will be looking for continuation of the fall. Limits for this entry is still at the BF786.

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 can only trade long on a BF786; which is way down at 3066. Else bullish trend setups will resume on a break of the 3232 high, which will open the upside again.

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

AUD/USD 2 FEBRUARY 2012

AUD/USD
We were stopped out at zero on the previous days short entry.
Will advise when another setup presents itself.

GBP/USD 2 FEBRUARY 2012

GBP/USD

Yesterday price formed a new B high giving us a new AB swing. This uptrend has been relentless.

FOR TODAY:

We now need to wait for a retracement to the 618/786 and a bullish cs formation for a long trade setup, or a rally to test the B high and a bearish cs formation after hitting the BF786.

SHORT: WILL ONLY BE GOING SHORT IF:

Price rallies to the BF786 and then gives us a bearish sc formation.  The limits for this entry will depend on the prior bounce. At time of writing we don’t even have a 382 as yet. Let’s wait and see. Stops 14 pips above the high of the cs formation, max 1.5% risk.

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 retracement to the 618/786 and a bullish cs formation for a long trade setup. Trade the 618 for 60-70 pips and the 786 will be a ST to the BF786. Stops 10 pips below the cs formation, max 1.5% risk.

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

EUR/USD 2 FEBRUARY 2012

EUR/USD

Price rallied to the 86 yesterday and found resistance at 3200.

FOR TODAY:

We will look for a fall today, maybe after a test of yesterday’s highs again - we'll see. 

The uptrend will resume on violation of 3232, below that our sentiment remains short.

SHORT: Will be going short only IF:

Price already hit the 86 yesterday followed by a bearish cs formation. Today will be a DA86 trading day where we will be looking for continuation of the fall, we will sell a bearish cs formation -  Stop 14 pips above the cs formation, max 1.5% risk. Limits for this entry will be at the BF786.

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 can only trade long on a BF786; which is way down at 3066. 

Else bullish trend setups will resume on a break of the 3232 high, which will open the upside again.

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

AUD/USD 1 FEBRUARY 2012

AUD/USD

We are still in the short setup from yesterday, limits set at 786 + 14 pips.

We will add to the short on rallies after bearish cs formations, provided that the first entry is 50+ pips in the money.

GBP/USD 1 FEBRUARY 2012

GBP/USD

Yesterday price formed a new B high giving us a new AB swing.

FOR TODAY:

We now need to wait for a retracement to the 618/786 and a bullish cs formation for a long trade setup, or a rally to test the B high and a bearish cs formation after hitting the BF786.

SHORT: WILL ONLY BE GOING SHORT IF:

Price rallies to the BF786 and then gives us a bearish sc formation.  The limits for this entry will depend on the prior bounce. At time of writing we don’t even have a 382 as yet. Let’s wait and see. Stops 14 pips above the high of the cs formation, max 1.5% risk.

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 retracement to the 618/786 and a bullish cs formation for a long trade setup. Trade the 618 for 60-70 pips and the 786 will be a ST to the BF786. Stops 10 pips below the cs formation, max 1.5% risk.

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

EUR/USD 1 FEBRUARY 2012

EUR/USD

Price fell yesterday after the bearish cs formation and we limited out 10 pips inside the A low for 88 pips profit.

FOR TODAY:

Price has now started the reversal process on the 1h chart by taking out the A low at 3076. We now have to wait for a retracement and then a fall taking out the B low and confirming the start of a downtrend on this time frame.

SHORT: Will be going short only IF:

WE need price to retrace to the 618/786 of this AB swing, then we need a bearish cs formation at those levels telling us that we’re heading down. Stop 14 pips above the cs formation, max 1.5% risk. Limits for the 618 will be 60-70 pips, and a 786 entry will be a ST to the BF786.

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 can only trade long on a BF786; we don’t have a decent swing high as yet before a test of the B low. So stand aside on this buy entry for now unless a clearer setup develops during today’s session.

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