Euro and Yen

Charts courtesy of Dynamic Trader and Advanced GET. Data provided by eSignal.

As you can see, the values I mentioned in yesterdays evening post have been hit. I have very tight stops on now and am looking for possible reversal soon on the Euro. If there is to be a reversal we may not see it until early next week.

Have a good weekend.

Even More Profits

Lock in the profits again and I would suggest placing stops at swing lows on 15 minute time frame.

On a seperate note, I had an email from someone not being able to view todays chart clearly.

For those of you who may have a similar problem, the reason this problem seems to occur for some of you depends on which computer I am using to take a snap shot of the chart. Some of my computers have a higher resolution than others and the higher the resolution I am using, depending on your resolution will change the size of the image. A work around maybe to install the newer version on Internet Explorer (IE7) as this has a resizer on the bottm right of the browser. You can download it by clicking here.

Euro APP is 12637. Keep a look out.

Further Profits

I am locking in further profits from the Pound, Euro and Yen.

Euro is reaching 0.382 fib, Pound is getting closer to 0.618 APP and Yen has reaced 0.618 APP and also M0 pivot on weekly.

Hope you have all captured further profits.

I am looking for a short on the Euro and am going to await the Euro reversal on daily DTOsc 13 as long as DTOsc 8 is still bearish.

Possible Wave Count

Chart courtesy of Dynamic Traders. Data provided by eSignal.

The above shows a possible wave count of the Euro as of 9am today.

You will notice yesterdays move down did a fib reversal so if you did not already have a position open on the Euro then the fib reversal was an excellent opportunity. Risk is always limited at fib reversals.

As for the Yen, ensure you lock in more profits today. We are about 146 pips in profit with this trade since I had mentioned it and also coming into a fib reversal zone so tighten stops in case we do not break through the support levels.

As always, good luck and don't go chasing trades. Always wait for set ups.

Lock in Profits

Good morning,

Since the Euro, Pound and Canadian Dollar have all travelled north since I had mentioned taking up long positions on Sunday night, I suggest you lock in more profits today.

The Yen has travelled south shortly after I had mentioned the potential for shorting and has also done very well profits wise and I would also suggest locking in profits in this. Perhaps look at a 60 minute chart and take the recent swing high as your stop loss (plus a few pips).

I will update with charts tomorrow.

Those that have taken up the positions based on my analysis and have profitied (which should be most of you if you follow the website) should be in good profits this week. If you are one of those that have benefited then please please make a donation to our charity of the month.

This months charity is the Cats Protection.

We are accepting cheques made payable to Cats Protection to the address below.

Javid Shaik
Dorset House
Regent Park
Kingston Road
Leatherhead
KT22 7PL
United Kingdom

Your donations are very much appreciated.

Good luck with the trading today.

Euro FXTA

I have started to lock in some profits on GBP, Yen & Euro. Below is the FXTA analysis of what is going on with the Euro. You may wish to download the file for easier viewing.

Chart courtesy of Metastock and FXTA. Data provided by eSignal.
Euro Dollar FXTA

Canadian Dollar

Please click the links below to view the Canadian Dollar charts. Charts courtesy of Advanced GET and Dynamic Traders. Data provided by eSignal.

Canadian Dollar Weekly Chart

Canadian Dollar Daily Chart

You may find downloading the charts to your computer will provide easier viewing.

Good luck trading this week.

Euro Daily

Chart courtesy of Dynamic Traders. Data provided by eSignal.

Euro, Cable, Yen & Canadian Dollar

The trend bias for the Euro and Pound is likely to be up. Looking at the waves for both of these currencies, we may well be within the vicinity of and and of wave or at least close.

The trend bias for the Yen should be the opposite of the Euro and Pound and we should start to see a decline on the Yen.

A friend called me last week and asked me to have a look at the Canadian Dollar. I have not looked at this for a while but after doing an analysis on this pair I noticed we maybe at the start of a short term wave 3 . Not only have we broken the down trend line, but we have done a pullback and continuation and bounced directly off the trend line itself. In addition we have been sitting above the 200 SMA for the last 3 days. This is looking good!

I have been having technical difficulties with the charts over the last couple of weeks and have still not managed to figure out the problem but I will attempt to upload some charts later in the day.

Good luck for this week.