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4hour Anchor update

Discussion in 'Personal Trade Journals' started by kasim ijelu, Mar 28, 2011.

  1. kasim ijelu

    kasim ijelu Private, 1st Class

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    STERLING : TTrading Preference: Short positions below 1.6055 with targets @ 1.575 & 1.5350 in extension.

    Alternative scenario: Above 1.6100 look for further upside with 1.62 as targets.

    Comment: the pair remains within a bearish channel and is challenging its support.
    also Be/co We are so close to the pervious support now
    turned Resisitnace senitment can change very quickly and what was is no longer what is

    If 1.5977 Daily Support Remains Broken
    EXTABLISH SHORTS
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    EURUSD:
    TTrading preference: Short positions below 1.4110 with targets @ 1.3950 & 1.3900 in extension.

    Alternative scenario: Above 1.4110 back with the rising trangle
    look for further upside with 1.4160 & 1.42 as targets.

    Comment:
    Eur Has played out our pervious bearish butterfly and is at crucial pivot area as there has been another possiable bullish Butterfly but not as harmoniious as the bearish BUtterfly any price are still below 55DMA so we will stay short untill may be 1.4110 is re captured untill then we will stay on the sell side which remains under pressure and also Pair is approaching its next support as the RSI is weak.
    Prices Stuck inbetween 200DMA and 90DMA
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    AUDUSD:
    TTrading preference: Long positions above 1.024 with targets @ 1.0315 & 1.0355 in extension.

    Alternative intraday scenario: Below 1.024 look for further downside with 1.0195 & 1.015 as targets.

    Comment: As long as the pair remains within its upside channel, look for further advance. there is a slight break of previous dotted trend line but i will use this a a warning on a conformation of a small correction to the 31/12/2010 Daily high resistance turn Support.
    as we still above pivot and 55DMA averages we will remain on the long side of the channel


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    USDCHF: Will the usdchf held its 0.8800 Support and has headed up since we last looked at this a week ago still looking ofr an upside break of 0.920 93.00 then futher upisde to 0.9350 the 0.9600

    Long positions above 0.9155 buying Zone with targets @ 0.9300 then back dwn to 0.925 which will be the 4th wave dwn if the holds then 5th wave advance ment will be Play 0.9350/0.9600 in extension.

    Alternative scenario: Below 0.9155 look for further downside with 0.9115 & 0.907 as targets.

    Comment/ and conerns : the pair is pulling back on its support ahead of a rebound.


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    USDCAD: i reall think this pair has potenial mainly becasue on of the Bullish Bat as price test the spring board floor for a possable major reversal so for now

    TTradnig preference: Long positions above 0.9790 with targets @ 0.9845 & 0.9865 in extension.

    TTrading Alternative scenario: Below 0.978 look for further downside with 0.973 & 0.9705 as targets. support zone as we range trade between 0.9810 and 0.9730

    Comment and conerns: The break above 0.9810 is a positive signal that has opened a path to 0.9845 as Prices pull back into Bullish BAT support Zone trying to extablissh a bottom personally i would like price to stay above the 21 DMA but if i am really aggressive i could initate a light trade in the support zone .

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    USDJPY : See previous Chart T1 200DMA 82.30 falling Mr Price apporaches falling trend line resistance @ 81.95 a break above above 200DMA then UP UP Up
    :)
     

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