AUD/USD 19 MARCH 2012

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Price rallied on Friday and took out the A high starting the reversal on this timeframe.

FOR TODAY:

We now need to wait for a decent swing high to call a B high. Once we have that we can draw fibs to ascertain where the 618/786 will be. We will buy at the 618/786 of this AB swing.

SHORT: Will be going short only IF:

No short entries since we are waiting for a B high to form. No trade setup – stand aside. I will post on stocktwits.com/fxg if a trade setup develops.

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 either, we need a B high to form. Stand aside on this pair for today’s session.

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

GBP/USD 16 MARCH 2012

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No trade setup on Sterling yesterday, price came 1pip shy of the BF786 and rallied.

FOR TODAY:

Today will be a DABF trading day where we are looking for price to extend. We will look to buy dips after bullish cs formations.

Else a violation of the 5601 lows confirms the bearish 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 get a rally to yesterday’s highs followed by a clear bearish cs formation; this qualifies as a DD entry and will be good for 100 pips, else higher up at the 618/786 of this AB swing followed by a bearish cs formation.  Stop will be 13 pips above the high of the cs formation. Limits defined at 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:

Today is a DABF trading day, we are looking for price to extend its rally and we look to buy after a dip and a bullish cs formation. Places stop 10 pips below the low of the cs formation. Limits will be defined at time of entry.

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

EUR/USD 16 MARCH 2012

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No trade setup on Euro yesterday, price rallied and came 1 pip shy of the 618.

FOR TODAY:

We need a test of the 618 followed by a bearish cs formation to sell, else long trades are only considered if we get a dip and a bullish cs formation.

SHORT: WILL ONLY BE GOING SHORT IF:

We need price up at the 618/786 of this swing followed by a bearish cs formation for a short trade setup. Stops will be 13 pips above the cs formation, limits defined at time of entry.

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 dip followed by a bullish cs formation for a long trade setup. Stop 10 pips below the low, limits 70pips or the 786 since it’s a shallow bounce.

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

AUD/USD 16 MARCH 2012

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No trade setup on Aussie yesterday. Price rallied to the 86 of the swing.

FOR TODAY:

We are in sell territory, if we get a bearish cs formation from current levels we will enter a short trade.

Else if price just rallies and breaks the 1.0560 highs on a sustained basis then we will have a reversal on this time frame.

SHORT: Will be going short only IF:

We need a bearish cs formation from current levels, or while inside the 1.0560 highs for a short trade setup. Place stop 13 pips above the high of the cs formation, limits at 1.0463

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 look to buy after a dip and a bullish cs formation.  Else we look to buy down at the BF786. Stops will be 10 pips below the low of the cs formation, limits defined at time of entry.

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

GBP/USD 15 MARCH 2012

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No trade setup on Sterling yesterday, price fell but didn’t give a clear bearish signal.

FOR TODAY:

We are close to the BF786 for a long setup but we need to hit it before we consider going long.

Else a violation of the 5601 lows confirms the bearish 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 get a rally to yesterday’s highs followed by a clear bearish cs formation; this qualifies as a DD entry and will be good for 100 pips, else higher up at the 618/786 of this AB swing followed by a bearish cs formation.  Stop will be 13 pips above the high of the cs formation. Limits defined at 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 get a bullish cs formation after price hits the BF786, or while inside the 5602 lows. Places stop 10 pips below the low of the cs formation. Limits will be defined at time of entry.

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

EUR/USD 15 MARCH 2012

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Price gave us the bullish support we were looking for. We went long, but then exited our long trade setup as per the post on stocktwits.com/fxg for zero loss.

FOR TODAY:

We have kept the A swing high up at 3190, with 3122 and 3089 being interim highs Price seems to be trying to find a base with the low currently down at 3003. We need a test and a bullish cs formation to buy, else shorts are only considered up at the 618/786 of this swing.

SHORT: WILL ONLY BE GOING SHORT IF:

We need price up at the 618/786 of this swing followed by a bearish cs formation for a short trade setup. Stops will be 13 pips above the cs formation, limits defined at time of entry.

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 test of the low at the BF786 followed by a bullish cs formation for a long trade setup. Stop 10 pips below the low, limits 70 pips since it’s a shallow bounce.

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

AUD/USD 15 MARCH 2012

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No trade setup on Aussie yesterday.

FOR TODAY:

We can only buy after price hits the BF786 followed by a clear bullish cs formation.

Else short trades are considered up at the 618/786 of this swing.

SHORT: Will be going short only IF:

We get a rally to the 618/786 followed by a bearish cs formation. Place stop 13 pips above the high of the cs formation, limits advised upon 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 will look to buy bullish cs formations after a test BF786. Stops will be 10 pips below the low of the cs formation, limits defined at time of entry.

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

GBP/USD 14 MARCH 2012

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No trade setup on Cable yesterday, price never reached the BF786.

FOR TODAY:

Price found resistance at the 382 of the AB swing. We can only buy after price hits the BF786, or sell a DD at the 382 or higher at the 618/786.

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

SHORT: Will be going short only IF:

We get a rally to yesterday’s highs followed by a bearish cs formation; this qualifies as a DD entry and will be good for 100 pips, else higher up at the 618/786 of this AB swing followed by a bearish cs formation.  Stop will be 13 pips above the high of the cs formation. Limits defined at 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 get a bullish cs formation after price hits the BF786, or while inside the 5602 lows. Places stop 10 pips below the low of the cs formation. Limits will be defined at time of entry.

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

EUR/USD 14 MARCH 2012

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Our long trade was stopped out yesterday with price giving us a new B low.

FOR TODAY:

Price rallied to the 50 of the AB swing late in yesterday’s session and just broke that B low in the last hour. This should open the downside towards 2975. Aggressive traders can sell the break of the low with 2975 in mind.

SHORT: WILL ONLY BE GOING SHORT IF:

Aggressive traders can sell the break of the low with 2975 in mind, else no short trade setup until we have a rally and a bearish cs formation.

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 bullish support from current levels for a long trade setup, else since we have already broken the 3051 lows we need to wait for a new B to form.

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

AUD/USD 14 MARCH 2012

AUD/USD - follow me on twitter @fxdailyforecast

Price gave us the bullish cs formation yesterday after hitting the BF786, we are still in that trade.

FOR TODAY:

We are still in the bearish AB swing, price is consolidating in this range over the past few sessions. We need a break of either the 1.0560 high, or the 1.0473 lows. A break of the 1.0473 low will give us a new AB swing with 1.0560 as the high.

SHORT: Will be going short only IF:

We get a rally to the 1.0560 highs and get a bearish cs formation, this will qualify as a DD entry and should be good for 100 pips, else higher up at the 618/786 followed by a bearish cs formation. Place stop 13 pips above the high of the cs formation, limits advised upon 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 will look to buy bullish cs formations after a test of the 1.0473 lows. Stops will be 10 pips below the low of the cs formation, limits defined at time of entry.

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