Daily Positions

Long Eur/Usd price:1.3261 soploss:1.32 Target: 1.3500
Long gbp/usd price:1.4612 stoploss: 1.4512 target:1.4870

Weekly Positions

Gbp/Usd Short Price: 1.4575 stoploss: 1.4672 Target:1.2990
Eur/Usd short price: 1.3644 stoploss: 1.376 Target:1.2165
Long usd/cad price: 1.2320 stoploss; 1.2100 Target:1.3350

Daily Positions

Short Gbp/Usd 1.4490 stoploss: 1.46 Target: 1.3065
Short Eur/Usd price: 1.3620 stoploss:1.384 Target: 1.2150
Long Usd/cad price:1.2280 stoploss:1.2000 Target: 1.3300

Daily positions

Gbp/Jpy short Price: 135.78 stoploss:137.78 Target: 124.27
Gbp/usd short price:1.3879 stoploss:1.400 Target: 1.2725

Gbp/Usd Analysis

Always it requires patience to wait on the market to head to the targets. Whilst the trade @ 1.48-1.49 should have been left for targets of 1.28-1.29. The present decline shows that this pair is indeed in the 3rd wave rally and this should continue to take this pair towards 1.29-1.27 level to complete the wave form. Whilst this ocurs i am short yet again today for this final rally. A good position also is a short on the eur/usd and a long on the usd/cad pairs for a rally basiclly on the dollar as judged on the dollar index and as stated in the last post. The pound might just seemingly be the pair doing most of the rally downwards as any retracement on the dollar index does not take the pound relatively higher as compared to the euro. Neverthless i expect the eur/usd pair to head towards 1.21-1.18 levels for the final wave pattern before deciding to go long.

Daily Positions

Short Eur/Usd price:1.2795 stoploss:1.2895 Target: 1.2150
Short Gbp/Usd price: 1.3828 stoploss: 1.3950 Target:1.2900
Long Usd/cad price:1.2786 stoploss:1.2700 Target: 1.323

Gbp/Usd Update

Displayed above is the chart of the gbp/usd and its possible wave counts whilst the entire move down towards 1.4050 (were the diagonal began from) was completed this can be labelled wave (1) for a move that takes this pair below 1.3505. The correction if it goes above 1.4660 can rally towards 1.4733-1.4856 were there is the 76.4% and 88.6% fibonacci resistances. As it is suspected that the dollar would weaken within a few days to come to form wave 4 of 5 of its recent uptrend. This view supports the move first for a break of 1.44 were a futher break of 1.4660 would confirm this move and bring this pair towards the above mentioned fibo resistances.

All short positions opened @ 1.48-1.49 have been closed today @ 1.4071 taking profits at 720-850 pips

Strategy 2 Long positions gbp/usd price: 1.4107 stoploss:1.3955 Target:1.4733-1.4856