Monday, November 25, 2013

#USDCHF: Looking For Longs After Test Of .9020 Area

#USDCHF: Looking For Longs After Test Of .9020 Area


If the 4 HR Elliott Wave Count is correct then the USDCHF should make a series of 4's and 5's down into the .9020 area. This should be the end of a wave 2 correction and I will be looking for longs after a bounce.



USDCHF 4 HR Elliott Wave Count





#USDJPY: Moving Stop to 100.90

#USDJPY: Moving Stop to 100.90

I have moved my stop on the final half of my USDJPY position to 100.90.  I am expecting a small pullback/consolidation before another move to 102.25.  Still looking for 103.76 and higher in a series of 4's and 5's.



USDJPY 4 HR Elliott Wave Count

Sunday, November 24, 2013

#EURUSD: Currently Short And Looking To Add

#EURUSD: Currently Short And Looking To Add


I am currently short two positions on the EURUSD and looking to add on a move higher to the 1.3627 area and on a break of 1.3399. 

The move down from 1.35818 did look like a 5 wave move down but a move back above 1.35818 would negate that count and open the possibility that we see the 61.8% retrace at 1.3627.



EURUSD 4 HR Elliott Wave Count