Euro Trend

Chart courtesy of Advanced Get. Data provided by ESignal.

The Euro daily chart shows a divergence in the long term. You can discard the sub wave count as they may not be accurate but the Euro may need a kick start to continue an uptrend which possibly could have topped out. This is worth watching for break of support levels for further shorts.

Good luck and have a good weekend.

Euro Drop

Charts courtesy of Advanced Get and Metastock. Data provided by Reuters Quote Center and ESignal.

The Euro has been looking bearish and may have found a home temporarily and the MA. I will be waiting to see a break of that for a continuation or a bounce with volatility. Before the drop you will notice we reversed at 786. Notice the divergence on the daily.

Good luck.

Yen

Chart courtesy of Advanced Get. Data provided by eSignal.

Those of you using my method of mechanical trading will be short this pair already. If not then based on normal analysis this maybe a shorting opportunity now. I opened another short this morning with a 30 pip stop loss.

I shall leave you with Barry - The Turkey Catcher's - email to me. If he can do it then so can each one of you.

Good luck today.

-----------------------------------------------------------
IF I CAN DO IT ANYONE CAN

I started out working on a farm at 11 years old, when I left school I couldn't even use a computer. I left school to work full time in farming but soon realised there was more to life and began saving up my wages to invest towards a better life. My first investment was at the age of 21 in residential buy to lets and it it went from there. Now at 25 I have 6 houses that look after themselves and spend my time trading amongst other things.
I first met Javid at a seminar I attended about 18 months ago, meeting him was the best thing that I got from the seminar and we have been good friends ever since.Javid has tought me most of what I know and for this I owe him a great deal.
I have been trading for about two and a half years now although only really got into it after meeting Javid before meeting him I had only a very basic knowledge of trading and very basic returns to go with it.
Now I mostly use swing trading using a mechanical trading method on metastock, I like this because metastock finds the trades for me that meet my criteria thus saving me endless hours sifting through charts. I find this system very good and in the last week to date I have made 450 points profit using it.
If I can grow up knowing nothing of trading or computers and learn to become a succesful trader then anyone can, and I honestly belive that.
The most important rule I think I can give you is to let your winners run and cut your losers fast, this sounds simple but it suprising how many people do the complete opposite.

Thank you Javid.
Barry.

AUDUSD & USDCAD

Chart courtesy of Advanced Get. Data provided by Esignal.

Good morning,

Sorry for no update yesterday. I am revisiting the AUDUSD pair as we have now broken the triple top resistance but it is not yet all clear for taking out long position trades. The first chart is showing a previous resistance from 1996 at 8222. If the momentum and allows this pair to continue it's trend up then expect hesistation at around 8222. If we break that with a lot of buying then further upside should be expected.

As for the USDCAD pair, if we break the 50% retracement that looks like a wave 4 then I will not be trading that until we break the 1.618 highs of February.

Have a good trading day and I will be posting Barry's email tomorrow for those who have hesitation thinking trading mechanically could be difficult.