AUDUSD traed Yesterday head shot

AUDUSD Daily

Price needs to clear and above 1.00635 and 1.03266 zone area to confirm bullish bias wave iii  i will added at this point to present position target 100% expansion 1.0635then   1.0201
News Comments to follow as there are load of pips to catch

26/062012

Following USdcad Update

I still have a wave 3 count down only becasuse Price did not take out the 1.0302 wkly pviot resistance which has not been taken out yet. Therefore the Bears are still holding this position on the  Daily decline of prices which is  below the 50% fib Line from the highs of 1.4570 to the low retracement @  1.01580 although we are hold bullish but wavering at the moment on the Daily 4hr chart so futher upside swings can still be expected. Support @ 1.02230 reisitance at 1.03022 wkly pivot.

Our bias at this time is still a larger 3rd wave decline. towards 0.9321 then 0.8647. Watching this space and my position is at break even as we sold @ 1.02992 stop at breakeven now we wait for further instructions from the market. and any intermarket relations

 Daily

 4hrss

USDJPY what we thought would take place to what actually happened..this week happened

What we Thought would happen then see below

Wkly  usdjpy
Comments to follow..
Thats why i like my system it gives me time and space to see the patten the set up and act accordingly. and even have time to and stucture and comments as we follow the trade.

 Daily

4hrs

What actually Happened No trade usdjpy daily
21/07/12

EURGBP Bearish Shortterm Mixed

EURGBP continues it’s down flow and remains weak and at risk of a sell off on fear of the Euro crisis

The count I have is 100% to the down side. With the structure screaming for a abcde relief rally as the daily trend is only slightly bullish with the bulls hanging on for dear life with no support from the RSI pointing lower however we could still get a upward retracement towards 0.8121 and possibly 0.8187, if 0.80617 is broken and held. The move is encompassed within an 4th wave advance from the lows of wave 3 and then Price should continue on its downward spiral back down towards support area 0.8010 psychological support if this breaks then we could decline also to the 2 target of 0.7750 wave 5.

Remember Price is king and Risk management is the emperor so stay vigilant.


eurgbp Daily

we were a little slow of the mark catching this move down as i said earlier that we should expect a little rally which i thought would be a little stronger than it turned out. I also said that 0.80167 would need to be broken and held before we consider any long moves this did not happen. So as it happens  the down side has pervailed heading for 0.7967 and with a complete breako 0.7967 we should be alllllll goood so with our down bias confirmed price should be headed for 0.7950 then 0.7805 then 0.7599.

GBPUSD Putting it all together Now

GBPUSD I believe we are in a negative 3rd wave dwn with a Long range target of 1.4865 the second target will be 1.4042. Supporting this view is the heavy break of the Poseidon pitchfork and price hanging just below the trigger line which is also below the 50% last 4hrswing high @ 1.5728 and the Top at 1.5780

With 4hr Anchor multiple time frame strategy setting its self nicely. I still think there might be a short term rally during the day and I will attempt to add to my sell position and will be looking sell rallies on every opportunity. So with all thing remaining sane and the flow continues below 1.5685 and price continues to spell out low highs we will stay short till target of 1.4865 is reached. Remember Price is king and Risk management is the emperor so stay vigilant.

Comment:
Tim Moore, Senior Economist at Markit and
author of the report said:
“Lower inflation provided some relief to UK
household finances in June, ushering in a slower
drop in cash availability and the least downbeat
assessment of future finances for over two years.
However, the overall picture is by no means akin to
‘fog in Channel; continental woes cut off’, and it will
take much more than a dip in inflation to carry this
resilience through the second half of 2012. A
worsening global economic backdrop in June,
alongside reports of a greater drop in income from
employment, continued to keep the pressure on
household finances. This in turn resulted in an
aversion to major purchases, as well as a further
erosion of savings and subdued spending patterns,
especially among the lowest income groups.”    

Eurusd let it rock to 1.2615 then sell T1 1.2162

Hey all markets have be slow as we wait patiently like a sniper for orders to initiate a Head shot. I figure Eur Usd is in a 4th wave retracement and according to my man Elliott, 4th wave are known to be very choppy and does not retrace back to the level of wave 1. Therefore as price is still bearish on the Daily and has now also broken its 4hr Poseidon trend and Trigger line to confirm a possible bearish continuation init 5th wave. I’m expecting a short retracement back to 1.2615 area the a sharp selloff down to the 1st target of 1.2162 the chance of this move according to price action is 95% on all wave levels . However, Remember  price is king and Risk management is the emperor so stay vigilant. Waite for sell signal according to your system. i'll be waite for a rally in the 4hr stochastics as usual and a bearish candle formation for confirmation

Timeless Fx: GBPCHF LONG TERM SELL

Timeless Fx: GBPCHF LONG TERM SELL:  I have been BEEN WATCHING THE GBPCHF FOR A WHILE AND IT HAS BOUNCED AROUND FOR A FEW DAYZ WITH LOWER HIGHS . CURRENTLY NOW PRESENTING A S...