Tag Archives: Cable

AUD/USD Trading Plan, August 1st 2013 (English Language)

Hello traders,

please find in the following an update for the AUD/USD major pair.

In the previous review for AUD/USD (July 30th 2013) I had indicated only one scenario after the completion of the move lower. That move is now completed and price touched the 0.8910 level, as anticipated.

Now two potential scenarios could develop (please refer to below picture):

AUD/USD currency futures daily chart, August 1st 2013

AUD/USD currency futures daily chart, August 1st 2013

Scenario 1. Price could continue lower into 0.8850. Once it gets there, our model shows the possibility of a  move higher as indicated in the last review or;

Scenario 2. Further weakness and a continuation lower into the 0.8595 area before a potential bounce.

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AUD/USD Trading Plan, July 30th 2013 (English Language)

Hello traders,

please find in the following an update for the AUD/USD major pair.

In the previous review for AUD/USD (July 26th 2013) I had indicated the 91.20 as the line in the sand where the correction into the 0.95 area would have been aborted. Yesterday that level was pierced on the downside indicating renewed weakness for the Aussie.

In my opinion the larger target for the current move lower is at 0.85 (please watch the coming weekly review).

AUD/USD daily timeframe July 30th 2013
Picture: AUD/USD daily timeframe July 30th 2013

It looks like bears front ran the 0.9330 area of resistance having a target in the 0.8840 area. This are is close to the 2nd target of the current daily extension short in this pair, coming around the 0.8910 area.

Our model of Program Trading suggests some profit taking in the 0.8840 to 0.8910 area.
After and if that happens, we cannot exclude a retrace (profit taking of shorts) into the next area of resistance on the daily chart at the 0.9080 area. If bears participate in that area we could see new lows into the 0.8730 area.

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AUD/USD Trading Plan, July 26th 2013 (English Language)

Hello traders,

last Friday I worked on a trading plan for the Aussie forex major, i.e. the Australian Dollar versus the US Dollar and I am sharing it with you in this post. I think there is an opportunity evolving right now in this forex pair.

Please find attached the analysis for AUD/USD published on July 26th, 2013:

The AUD/USD is in weekly shorts in the longer timeframe and our model suggests a move into the 0.8550 area is possible in the coming month(s).
However, the pair may have started a move higher into the next resistance area which starts at the 0.9495 and extends up to the 0.9550 level.
The scenario of correction higher into resistance remains valid as price stays above the 0.9120 which acted as support in the last 3 days.

AUD/USD daily timeframe July 25th 2013

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AUD/USD Trading Plan, February 1st 2013 (English Language)

Hello traders,

this morning I worked on a trading plan for the Aussie, i.e. the Australian Dollar versus the US Dollar and I am sharing it with you in this post. I think there is an opportunity evolving right now in this forex pair.

Please find attached the video-analysis recorded in the morning for AUD/USD for today February  1st, 2013:

This pair found support in the 1.0380 area and can now move all the way into the top of the range at the 1.0580 area (please, refer to the below picture):

AUD/USD daily timeframe analysis and trading plan - February 1st, 2013

AUD/USD daily timeframe analysis and trading plan – February 1st, 2013

Entry is here (as I prepare the chart and record the video) above 1.0380 with a stop (aggressive) below 1.0370. A more forgiving stop (moderate) would be below daily lows, ie. below 1.0355.

A good long opportunity is unfolding here. Please let me have your thoughts. Thank you.

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AUD/USD Trading Plan, January 29th 2013 (English Language)

Hello traders,

this morning I worked on a trading plan for the Aussie, i.e. the Australian Dollar versus the US Dollar and I am sharing it with you in this post.

Please find attached the video-analysis recorded in the morning for AUD/USD for today January 29th, 2013:

The forex pair could have interrupted its sequence of measured moves lower, so I believe it’s due for a larger retracement higher.
However the levels around 1.0330-80 (see picture below) never traded and this has me worried because there is where professionals and Program Trading would participate on the long side.

AUD/USD daily timeframe analysis and trading plan - January 29th, 2013

AUD/USD daily timeframe analysis and trading plan – January 29th, 2013 (click to enlarge)

So I assume what it is going to unfold is just short covering and we have more downside (Scenario 1 below, is the more probable for me). These are the 2 scenarios I could identify in the short-term and going forward:

Scenario 1. If price sees 1.0430 area that would be a good entry with a stop below 1.0410. 1st target is at 1.0480 area, right a resistance. However, it is better to wait for confirmation before getting involved.

Scenario 2. Only if price moves above 1.0520 I will give bulls credibility. In that case price could dip once again into the 1.0460-80 area and then continue higher

A good long opportunity is unfolding here. Please let me have your thoughts. Thank you.

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GBP/USD Trading Plan, January 27th 2013 (English Language)

Hello traders,

this morning I worked on a trading plan for the Cable, i.e. the Pound versus the US Dollar and I am sharing it with you in this post.

I believe price of GBP/USD is at support and now due for a small retracement higher, at least into the 1.5860 area. Such retracement does not look like support from long participants, but price is rather supported but short covering on the smaller timeframes, after price hit the second target around 1.5760.

The previous short setup with resistance at 1.6170-80 worked fine and brought prices into the 1.5900 area (1st target) and then the 1.5760 area (2nd target).

I now see two possible scenario developing (see below picture):

GBP/USD trading plan going forward, January 27th, 2013

“GBP/USD trading plan going forward” – January 27th, 2013 (click to enlarge)

Scenario 1. Price climbs back into the 1.5860 area (due to short-covering) where it finds strong resistance and starts a continuation lower into 1.5690 (1st target) and then 1.5600 (2nd target)

Scenario 2. Price moves above the 1.5900 level (helped by new longs) breaking the sequence of extension moves lower and then retraces. Depending on where it prints the relative high (above 1.5910) it could retrace down into the 1.5830 area before continuing higher.

One thing is sure: chasing price at current lows is very dangerous and going long along with short-covering seems a better choice into the 1.5860 area.

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If you intend using this information for your trading please do your own diligence, find the advice of a trading professional and trade at your own responsibility. The information provided is for educational purpose only. Please read the Disclaimer and accept all the risks. Thank you.

Have a good day

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