Result of my analysis for 10.12.13 (Tuesday)

Result of my analysis for 10.12.13 (Tuesday)

We had another good day.

If you trade according to my trade recommendations your results should have been:

AUDUSD - no trade

AUDJPY - UP to 50pips

USDJPY - Up to 80 pips

EURUSD - Took Short trade which was a loss -22pips

In Total approx 108pips profit for Tuesday

Happy Trading!

EURUSD Daily Outlook for 11th December, 2013

Daily Chart

Pin bar liked candle produced rejecting the R1 Weekly however did not touch the 1.380

• Possible downside, however wary as i would like to see it test the 1.38 area
• Market sentiment of retail traders are all time high for shorts, which makes it a high possibility it could go higher

Hourly Chart

A the time of price action continued lower after rejecting daily pivot.
Chart wise, i believe we are in the middle of no where.

• Until we get a clearer direction, then we will look for a trade opportunity

Outlook Trade opportunity

We are in the middle of no where, its too close to major resis (1.38 handle), 

• All time high for retail traders for shorts, and makes it a good chance where we could perform higher highs to take retail traders out.
• December historically ends positive month
• So i will not trade until clearer direction

for risk takers - you could follow retail traders and short it at this level, risk :reward is good!

Risk Level _ - NO TRADE

Tips -

Always take note of any economical news event on our provided calender below

AUDJPY Daily Outlook for 11th December, 2013 (Wednesday)

AUDJPY Daily Outlook for 11th December, 2013 (Wednesday)

Daily Chart

"Another confirmation candle showing good rejection of the 93 price and down trendline."

• Produced pin bar candle however, basically a range trading day doing the ranges from the previous day.
• Uptrend is limited for now as we are hitting the 61.8 retrace
• tricky one for me to trade at the moment, however, because of the 61.8% level, and most yen crosses are falling, i would risk a short trade

Hourly Chart

"In an area of mess"

This one is hard to trade , and i am more bias to the downside because the yen crosses are falling, and rejection from the 61.8 retrace.  

• Upside is limited with two barriers 61.8 retrace and 94 handle, 
• This is a chart where i see confusion

Outlook Trade opportunity

Intraday trade to short from 94.120 to aim for approx 13-15pips (1:1 RR)

Risk Level High

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Daily Outlook for 11th December , 2013 (Wednesday)

AUDUSD Daily Outlook for 11th December , 2013 (Wednesday)

Daily Chart

"Price actions shows  temporary bullish trend"

• Broke up higher to reach previous weeks high
• Looks like its heading to test the 0.92500

Hourly Chart

"Trade with the flow seems the right thing to do now"

•  Stochastic showing divergence from previous low to current low.
•  very good price action to the upside yesterday

Outlook Trade opportunity

Trade with the trend, looking for price to retrace to 0.91250 for a long to yesterdays high. (please target 5-10pips below yesterdays high for conservative trade)
You could take profit on half, and leave the rest of the trade risk free to see if it continues to go north.

Risk Level - Low

Tips -

Always take note of any economical news event on our provided calender below

USDJPY Daily Outlook for 11th December, 2013 (Wednesday)

USDJPY Daily Outlook for 11th December, 2013 (Wednesday)

Daily Chart

"Bearish engulfing candle"

We have broken out of the steep trend line, and price action formed from yesterday produced a bearish engulfing candle.  On top of that, we have touched previous week high producing a double top.  Our outlook for this pair is bearish for the short term.  

• Divergence in both stochastics and Rsi
• Bearish engulfing candle 
• Double Top

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Hourly Chart

"Diverging and looks appealing to the downside"

Yesterday was great short from the previous week high producing a double top formation and falling out of the trend line. The downside looks promising with the momentum.

• Diverging 
• Double Topped
• Broke out of trendline
• A clear break down from 102.550 will have 102.00 as next area to test support

Outlook Trade opportunity

Bearish now so we will go with the flow, Looking for price to retrace to around 102.980 - 103.00, and will short from there
TP 1 - Yesterdays S3 / low area
TP2 - Set Stops at B.E and see if it can break through 102.50

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below