Result of my analysis for 06.12.13 (Friday)

Result of my analysis for 06.12.13 (Friday)

Another positive day for those who followed my trade recommendations.

• AUDUSD - Long Trade Potential of 25pips during asian session, although day ended 620pips up from entry, there was a stop run from the nfp which would have taken us out. (I took profit at 10pips in asian session)

• AUDJPY - Long Trade Potential of 150pips (I took profit at 20pips in asian session)

• USDJPY - Short trade -went in profit in 15pips, however did not reach my profit target of the lows, so market eventually went against our trade and had a loss of -15pips (I personally did not trade this purely because there was a 3 drive down completed already and risk is higher)

Total Results Friday - Potential of 160 pips profit (personally I traded Asian Session and had 30 pips profit)

Happy Trading! 

Cheers, Howard

USDJPY Daily outlook for 6th December 2013

USDJPY Daily outlook for 5th December 2013

Daily Chart - Clear bearish candle breaking the steep trendline

• Clear bearish candle breaking the steep trendline
• Next target for short will be 38.2 retrace

Hourly Chart

• Made lower lows so previous support is now resistance, and also a daily pivot and 38.2% retrace.

Outlook Trade Opportunity

Will look for opportunity to short if market test the 102-101.90 confluence levels of Daily pivot, previous support now resistance , 38.2% retrace, trendline. with initial Target of yesterday's low