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[rufffen]

NEW LEVELS IN THE ATTACHED TABLE!

UPDATE 12/07/06 wed, US:

GBP/USD

Good idea is to add some to NET SHORT @ 1.8400-8430 SL 8480 TP 8240, or 100 pips away. Good confidence with this one trade.
EUR/JPY GBP/JPY

Look for yen to topout 115.90-116.20, after a clean reversal Id recommend to short EUR/JPY and GBP/JPY, however make sure YEN reverses SOUTH first! If EUR/JPY trades above 147.40 or actually if it breaks 147.00 Id recommend to stay out of that trade.

Current EUR/JPY resistance is 146.88, 14727 14708 are overshoot levels, anything strong above that level, please stay out!

EUR/AUD:

This item looks like it's reversing, however I can't confirm that, since I got two conflicting setups right now. FLAT NOW.

Have two fractal for SOUTH/NORTH move, now the idea is to wait for confirmation and either SHORT TOP or BUY BOTTOM, once the fractal is confirmed.


UPDATE 11/07/06 tuesday, US:

Considering a new trade setup:

AUD/USD

If the SHORT trade gets stopped out consider a new setup

BUY AUD/USD 7550 SL 7460 TP1 7600 TP2 7660 TP3 7710.
Once the targets are hit consider SHORTING in the window 7720-7760

EUR/AUD:
Looking for a reversal signal NORTH at 6870-6910, if that
confirms, can go LONG for 1.7380 SL 1.6840.

UPDATE 11/07/06 tuesday, ASIAN:

Current SELL WINDOW EUR/JPY and GBP/JPY

EUR/JPY

1st 146.30
2d 146.10
3d 145.70

TP 100-200 pips
SL 147.60 move to break even once in profit

GBP/JPY

1st 211 15
2d 210 95
3d 210 60

TP 100-200 pips
SL 211.60 move stop to break even once in profit and trail

GBP/JPY countertrend trade, be careful!

1st BUY 209.65-209.80
2d BUY 210.00-210.20
TP 211.40 SL 209.40

This trade only good for the next 4 hours, once the pairs bottoms out.
Can BUY EUR/JPY same time for 60 pips.

EUR and CABLE levels coming up shortly, updating the scorecard now.

NEW TRADE SETUP

NZD/USD

LONG 1st 0.5990 2d 0.6040 TP 0.6380 0.6540 SL 0.5900
High probability trade

AUD/USD

SHORT ST 0.7510-0.7520 SL 7560 TP 7420 this one a 100 pips trade.

GBP/USD more risky trade

SHORT 8480-8520 area SL 8560 TP 70 pips.
would rather short from higher levels, or if you
have shorts since last week, advise to hold them now.

AUD/CAD setup

This item is shifting cycles as well, to a new uptrend, however right now
will likely retrace lower.

BUY WINDOW 0.8180-0.8230 SL 0.8100 TP 0.8560 going for 360 pips here.
Im also shorting at current levels (0.8390-0.8440) but can't recommend that to anyone.

So far:

EUR/JPY is +160
GBP/JPY +100
USD/CHF + 70
GBP/USD + 80
EUR/USD +60
GOLD + $9
EUR/CHF -40
USD/JPY - 90 - maybe close this trade and wait for a better setup.

PS:
1) I don't recommend closing EUR/CHF with a loss, since it will go up as soon at EUR drops.
2) USD/JPY - Do not recommend to close witha loss, since this pair will reach 110 in the nearest future - refer to the attached PDF file.
3) You could generally trade the pair in the direction of the trend, which is SOUTH for everything, aside from USD/CHF, which is going NORTH.
4) Name of the game trading strong trend on EUR/JPY and GBP/JPY is short on any retracement from the dips.
5) AUD/NZD is a little bit slow, so no analysis and setups for now.

THIS THREAD IS CLOSED! Please no posts here, thank you!

New trades posted with comments in attached PDF file. Thread closed till END of next trading week. Update Part2 coming after 14/07/06.

UPDATE on posted trades:

EUR SL hit - 70
GBP SL hit - 80
EUR/JPY +80 (I got in early +110) holding
GBP/JPY +60 holding
SPOT GOLD +4 holding
EUR/CHF holding SL moved to 1.5600 TP is 1.5770 -30 now

NEW Trade (not in PDF) SHORT AUD/NZD NOW OR (1.2320) SL is 1.2380 TP1 1.2240 TP2 1.2180 TP3 is 1.2080 TP4 is 1.1860. Last up to 3 months.

Previously posted trades:

SHORT EUR/JPY NOW SL 147.80 TP (revised target1) 136.00 Can take GBP/JPY SHORT too
SHORT EUR/USD NOW SL 1.2840 TP (target1) 1.2660 1.2540 1.2400
SHORT GBP/USD NOW SL 1.8480 TP 1.8200
LONG EUR/CHF NOW SL 1.5660 TP 1.5780
SHORT SPOT GOLD NOW SL 638 TP 530

Update SUNDAY.

Have a good weekend and a profitable trading week!

[iceburg500]

the GBP/JYP has been stubborn lately, lets see if the BoJ rate hike acts as a calalyst and compliments your technicals.

Ive been trying to short thing pair for a month now, lets see if this is indeed a top for a nice fall coming today.

[rufffen]

EUR/JPY update 2100GMT: If yen goes NORTH (no rate hike), this item can break the recent high and test the 148.20-148.80 areas, if it breaks above recent high (147.40) look for signs or reversal around 148.40 148.60 148.80, Id say these levels are good spot on levels to take some low risk shorts if this item breaks the recent high.

Waves currently pointing NORTH, both EUR/JPY and GBP/JPY.

[rufffen]

iceburg500 In first post its clear that I ask to refrain from posting in this thread, so please do that in the future, thank you!

[rufffen]

Right about now could be a good idea to short GBP/JPY, there is a wolfe wave pattern with a slight overshoot over normal ratios on 1 hour chart, however Id say this fractal still looking good for 209, Id put my stop at 214.60, this item is trading at 213.60 on my platform at the moment.

[rufffen]

Just an update: NO POSTS IN THIS THREAD PLEASE, KEEP IT CLEAN!

USD/JPY: As long at 116.80 holds we will see more downside soon, two targets initially 114.90 and 113.90. This item broke weekly resistance area1 and trading above monthly balance area, however next weekly resistance area low border is 116.50 and upper border is 117.40, so as long as the price doesnt reach the 117.40 / better yet 116.80 definately more downside to come.

Id say 113-114 is safe, however might accelerate to 110 soon. Daily WAVE structure doesn't shed any light on possible direction, so I use high probability areas for reversals and channel setups and patterns instead.

[rufffen]

EUR/USD. This item might start to retrace north at 2600 levels, or around 2540-2580 area, look for a clear reversal signal, good opportunity to go long.

Monthly support line 3 broken (2650) which is an indication that this item might visit support line 4 at 2510 and retrace there.

GBP/USD. An extended dive of max 120-150 pips from current levels (1.8360) could be in place, before a new retrace north and a good opportunity to get in long.

USD/JPY: This item broke resistance line 3 (monthly) and can test the resistance line 4 at 117.40, this would be an excellent area to take small shorts.

YEN Crosses: Id wait for action on majors, especially on YEN to establish a valid topping action, before initiating any trades.

Overall idea is to give more time for YEN to top out, and EURO and CABLE

GBP/JPY: Closed at b/e since the markets seems to be undecided.
to bottom out and to sell high / buy low.

[rufffen]

EUR/JPY update: Wave count on 1 hour chart attached. Indicating topping action around 147.80.

[rufffen]

Levels for next week are updated in the first post, please see the attached scorecard.

[rufffen]

GBP/JPY 1 hour chart is attached with the possible reversal levels to watch next week. Im confident that item will reverse for 212 soon, however can't confirm the time just now.

[rufffen]

NZD/USD potential setup: This item looks like its advancing SOUTH with a slight retrace NORTH from the previous degree wave in the downtred, Id look to short at 6220-6260 area with a tight stop, target would be 0.5940 initially. Lets see if this signal is confirmed next week, Id like to see 6150 break with a strong candle too.

AUD/USD: I spotted a fractal on 4 hour charts and appears this item is stalling, although direction is NORTH. Id like to see it top out around 7720-7740.

This trades are secondary, some of them are developing fractals, so Im monitroing these currencies to see how the fractals react.

Currently monitoring 3 fractals, AUD/USD (moving NORTH, so will try to sell weakness at the top), EUR/AUD (moving SOUTH, so will try to buy strenght at the bottom), NZD/USD (looks like a good SHORT setup for .5900).

USD/JPY fractals are undecided, longer-term looks like they point towards 109-112, which is consistent with a new downtrend on EUR/JPY.

CABLE and EURO fractals are pointing way SOUTH, EURO 1.23 1.19 1.16 and CABLE 1.8100 1.7800 1.7300, but that's longer-term setups.

USDX fractals points that dollar will regain grounds (WEEKLY), Id say 2007 will see it establish above 92-96 area.

[rufffen]

EUR/USD mid-term update: This item looks like it's going to reach 2510-2540 in next 2 weeks, from that point onwards, its decision time, either it rebounds to 2880 area of dips lower beyond monthly support zone (2420-2510) to 2340. Id say support is strong, so likely to revisit 2880 before dipping beyond 2500.


GBP/USD mid-term update: This item will trade below current levels, however losses limited with 7900-8080 area, which is monthly support zone. Good idea to buy recent June lows for a retest of the July highs, Id say any losses below 8000 are capped.

Currently Im looking to short GBP/USD topping action around 8480-8520, TP +120 SL 8580, updated on the first page of the thread in the attachment.

[rufffen]

EUR/USD quick update: Looking for a new low to be made either today or 19th July, and a new high either Thursday or Friday this week. Lows to watch out for 2540 2560 2574 2587, Im fairly confident that losses wont extend below 2520.

[rufffen]

GBP/USD for UK open: Those of you who are looking to go SHORT, can do that at the current price levels (8380) or at 8420 targeting 8260 8240 8220, Cable is setting up for a nice triangle breakout, and downside got more potential right now. My SL would be just 8440-8460 area, which gives r/r of 2:1, that's OK in my book.

Better trade setups still to BUY BOTTOM on both CABLE and EURO, all the entry prices and TP SL levels updated in the first post in this thread.

[rufffen]

GBP/USD UK update: Those of yous who shorted, are +127 by now, I closed the SHORT trades,

To go Long you can have 3 best levels 8070 8140 8190, all of the BUY targets remain the same 8400 initially and maybe 8680 later on.


Im currently looking at YEN crosses, however USD/JPY is still rallying NORTH, so Id wait for it to reverse SOUTH and post entries for crosses. Now it's a bit early to enter.

[rufffen]

SL on cable trade will read as 8020 if you enter at 8070, 8120 if you enter at 8140 and 8140 if yous enter at 8190, wait for a clear reversal signal. Im waiting for yen to top out 117.10-117.60 to go LONG EUR and CABLE.