Closing Position

Just closed my last position short of AUD.JPY short at 73.50 with 150 pips profit ,, closing the month at 930 pips profit ,, just 70 pips away from my 1000 pips target ,, the AUD.USD SHORT at 82 Which messed my TP at 8060 and went deep in negative slowed me down with negative 150 pips , it was a good trade but didn't manage to tweet moving the sl to break even , if we didn't have this bad trade that closed at 150 pips negative we would have been on target but anyways , it wont happen again

Trade Position Update

As Alerted on the twitter and shown on the charts ,, i stated that i ll short of the resistance levels i pointed and if it breaks the low only by touching the first resistance which it did at 76 , i ll be shorting of the bottom break .
the full position short at 75 closed half of it at 74.20 as alerted on the twitter and we have the second half working with Stop Loss at 74 to lock on 100 pips profits .

i had a very old short for the AUD.USD at 82 that i left behind for sometime now cause i was sure it ll pick it up later , i was to close it at 8390 but when i seen this strong move down i took advantage and closed it at 8350 for 150 pips loss but it was better than freaking out of it at 87 with 500 pips loss
results for June is updated on the twitter right tab.
we made a good month although i was hoping for more profits that this but at the end ,it was solid as Mai , hope most of the people made use of this blog
i would be happy to receive your comments

Chart Update AUD.JPY

After this fast move down in the Risk as i warned in previous charts , i warned as well that it ll be so fast to catch and it went down with more than 250 pips with ZERO bounce , i was lucky to get in on the break of the 77.65-70 level as i shown in previous charts. i hope that everyone got it right and made some green pips out of this good move , the good news is that this is not the end of it ,, i can see now the end of wave 1 of wave 3 down which has formed an ending diagonal as shown in the chart.
as i speak now its testing the upper resistance of this pattern and breaking it , i m showing in the chart the 3 resistance levels i m watching closely for an entry to ride this beast down again , first one comes up in 75.80-76.25 , and that's the 4th wave bottom and top and the 38% ret. then the 76.60-70 level which is a very solid resistance and then the final line of defense is 77 level which i find it very unlikely to break or even test.
i recommend building a short position at this levels , i ll go half position at 76.25 then add the second half accordingly , maybe at 76.60 or at the break of the low
if the trend didn't go up to test this levels and just go break the low from here , i don't recommend selling before the trend at least hits 75.80 and then breaks the low cause the RSI is very deep in the oversold area and it needs a relief before it can grab a momentum for another fall.
so the plan is ,, building short position at this shown levels , short at the break of the low only after the price tests the first resistance level.
goodluck all

Chart Update AUD.JPY

As shown in the previous chart , the price broke up the 4th wave pattern into wave five , a break of the red line shown on the chart is a strong signal that this corrective wave 2 ended and a start of wave 3 in progress , and i ll be looking to short at that break .
second scenario is for the trend to move up to the resistance zone starting from 78.60 to 78.20 where i ll be looking to establish a short position there to capture the 3rd wave right from its start .
i myself traded this small move up but i didn't make it as an official trade , but as said before , sometimes i post a very accurate charts and its your choice to wait for me to get in or to go in yourself and manage your trade .

AUD.JPY

Morning traders , first i wanna get back to the chart i posted on our last working day on Friday where i warned of a bounce and break of the channel in the AUD.JPY for a corrective wave , i guess a lot of people got caught up short in this bounce but i hope no one did from the followers of this blog , the chart was a clean accurate analysis and based on a strong case , a lot of people who followed my last AUD.USD short at 8670 that i closed at 8630 might thought through this move down that i closed it early but i trade what i see and analyze , and i seen the downward momentum getting very weak with a bounce coming and i saved our position from going into red with around 70 pips but instead collected some green pips and ready to short from a better level , but as i stated before i m moving to the AUD.JPY as it holds a very clear Elliott waves count and that will be my chart for this week.
in the displayed chart , i believe we are finishing the wave C of the Flat correction before the wave 3 down which comes in very fast and with the highest momentum which makes it sometimes hard to catch , i see this triangle 4th wave pattern breaking higher into the fifth wave which i ll be stalking the end of it for a short to ride this 3rd wave down from a good position , i m watching the s&p 500 going into the c wave this session to finish its correction too.
i think we might see the top of the risk for the next few days on today's session , so try to be close to ur trading platform for a fast trading signal alert.

AUD.JPY

i just closed out short on the AUD.USD 0.8670 at 0.8730 with 40 pips profit , some might think i closed that earlier than it should be ,, well , i have 2 reasons for closing this position
1- i m looking to switch into AUD.JPY as it has a better Elliott Waves clear setup while the AUD.USD is too noisy , and it drops more than the AUD.USD so its a better profitable pair for me at the moment
2- i m seeing a divergence on all indicators that might signal a short term bottom formed after the AUD.jpy went down in 3 waves which i labeled as wave B with Wave c up to go before the downtrend resumes , so we can establish the short position form a better floor
maybe the pair just sinks again but i wont regret closing this position as i trade what i see on the charts and i trade only good setups , that's why most of our trades r successful , so for now , i see a solid case of a short term bottom and i m gonna follow that case and short from a better position but this time it ll be AUD.JPY

USD.CAD

Possible trade i m watching but i still think it might go right up from the current position but i ll be stalking its move down to long

Chart Update

My Last Chart was so successful as i anticipated a push to the 8750s level then a move down to the 8650-60 level which will support the trend to bounce up ,, but
where to go from here
the move down from the highs on all pairs i m watching is soo choppy and don't give a clear impulsive move down to support our immediate bearish bias
we even witnessed a new high in the NZD.USD , so i m now watching 2 possible counts for this trend , both of them is medium term bearish but short term .. they r in opposite direction.
first count as shown in the chart is showing a possible leading diagonal with wave 2 to go or might ended at the recent push up and wave 3 to go or to start after a little push up to the 88 level
second count showing this move down as a possible ABCDE correction in a possible wave 4 with wave 5 up to go to new highs before the correction emerges
the break or touch of 8550 will shift the focus to the first scenario ( short and medium term bearish)
the break of the 88 level will shift the focus to the second scenario ( short term bullish medium term bearish )
i ll update the chart as soon as i make sense or get more confident in either ways of this counts

Chart Update

Chart talks for itself

Closing the second half of our AUD.USD 0.8840 short at 0.8680 , expecting a bounce of the 8650-70 area , and with the Feds rates tonight , i wanna be flate before that news , we made a total of 115+160=275 pips on that trade ,,