The USD/JPY pair looks to have completed a leading diagonal. A deep retracement to around the 61.8% Fibonacci is expected from here. This may correlate with dollar weakness across the board and may coincide with a push higher from other US pairs.
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Purple denotes a change made after my initial analysis
N.B. Several people have questioned me about my terrible performance in February. Those losses were due to lack of money management skills, not bad analysis. See my early March postings for a more details about those problems, and what I have been doing to fix them.
Market Predictions based on Elliott Wave Theory and Traditional Technical Analysis
For a free copy of Robert Balan's Elliott Wave Principle Applied to the Foreign Exchange Markets - Click Here.
This Month's Positions
| Aug | Unit | L/S | Entry | Stop | Target | Pips | ||
| 24 | SPX | S | 1055 | 1064 | 670 | -9 | ||
| 24 | NZ/US | S | 0.715 | 0.74 | 0.68 | Active | ||
| 1 | SPX | S | 1125 | 1064 | 670 | +61 | ||
- Jared
- Brisbane, Queensland, Australia
- I have been using Elliott Wave Theory for several years now and use it in combination with traditional technical analysis methods to assist me with my trading. My main focus is on currency analysis (FX) however I also analyze commodities and equity markets for their correlational importance. You can reach me on email at ewforex(at)gmail(dot)com.
Trade Results For 2010
| Aug | Unit | L/S | Entry | Stop | Target | Pips | ||
| 28 | GB/US | S | 1.595 | 1.62 | 1.40 | +70 | ||
| 27 | SPX | S | 1120 | 1114 | TBD | +6 | ||
| 22 | SPX | S | 1082 | 1078 | TBD | +4 | ||
| 16 | SPX | S | 1072 | 1063.3 | TBD | +8.7 | ||
| 8 | AU/JP | L | 76.9 | 77.1 | TBD | +0.2 | ||
| 6 | NZ/US | S | 0.70 | 0.716 | TBD | -160 | ||
| 1/7 | SPX | S | 1035 | 1033 | TBD | +2 |
| Jun | Unit | L/S | Entry | Stop | Target | Pips | ||
| 22 | EU/US | S | 1.2345 | 1.2292 | TBD | +53 | ||
| 9 | SPX | L | 1056 | 1063.3 | 1068 | +12 | ||
| 7 | SPX | S | 1071 | 1106 | 1050 | +21 | ||
| 1 | EU/US | L | 1.224 | 1.215 | 1.265 | -90 |
| May | Unit | L/S | Entry | Stop | Target | Pips | ||
| 26 | US/CH | S | 1.158 | 1.165 | TBD | -70 | ||
| 25 | EU/US | L | 1.2275 | 1.226 | 1.28 | -15 | ||
| 21 | EU/US | L | 1.232 | 1.246 | 1.273 | +235 | ||
| 13 | US/JP | S | 93.50 | 90.96 | 82.00 | +254 | ||
| 12 | AU/JP | S | 83.5 | 84 | TBD | +60 | ||
| 11 | EU/US | S | 1.299 | 1.31 | 1.20 | +230 | ||
| 6 | SPX | S | 1160 | 1205 | 1150 | +10 |
| Apr | Unit | L/S | Entry | Stop | Target | Pips | ||
| 29 | NZ/US | S | 0.73 | 0.715 | TBD | +400 | ||
| 23 | AU/US | L | 0.922 | 0.929 | TBD | +70 | ||
| 21 | EU/GB | L | 0.871 | 0.86 | TBD | -110 | ||
| 16 | AU/JP | S | 0.854 | 0.86 | 0.84 | +140 | ||
| 15 | US/CA | L | 0.997 | 1.006 | 1.035 | +90 | ||
| 13 | AU/US | S | 0.930 | 0.9285 | 0.901 | +15 | ||
| 12 | EU/US | S | 1.366 | 1.365 | TBD | +50 | ||
| 10 | EU/US | S | 1.345 | 1.35 | TBD | -50 | ||
| 10 | US/JP | L | 93.20 | 93.315 | 95.50 | +11 | ||
| 9 | US/CA | L | 1.003 | 1.004 | 1.03 | +30 | ||
| 2 | US/JP | S | 94.40 | 95.50 | 92.70 | +100 |
| Mar | Unit | L/S | Entry | Stop | Target | Pips | ||
| 31 | GB/JP | S | 143.50 | 145.50 | 110 | +50 | ||
| 26 | AU/JP | S | 85.45 | 86.25 | TBD | -80 | ||
| 24 | EU/JP | S | 122.65 | 123.20 | 119.80 | -50 | ||
| 18 | CA/JP | S | 89.70 | 88.90 | 83.2 | +80 | ||
| 17 | CA/JP | S | 89.50 | 90.60 | TBD | +30 | ||
| 17 | EU/GB | S | 0.905 | 0.9075 | 0.8980 | +70 | ||
| 11 | GB/US | S | 1.5105 | 1.52 | TBD | -40 | ||
| 8 | US/JP | L | 89.80 | 89.25 | 90.40 | +60 | ||
| 3 | EU/US | S | 1.365 | 1.372 | TBD | -70 | ||
| 2 | EU/US | S | 1.357 | 1.36 | 1.339 | -30 | ||
| 2 | EU/US | L | 1.349 | 1.344 | 1.356 | +70 | ||
| 1 | EU/GB | L | 1.3595 | 1.3575 | TBD | -20 | ||
| 1 | GB/EU | L | 1.4965 | 1.49 | TBD | -65 | ||
| 1 | EU/US | S | 1.3650 | 1.3685 | 1.3595 | +55 |
| Feb | Unit | L/S | Entry | Stop | Target | Pips | ||
| 27 | EU/US | S | 1.366 | 1.372 | 1.3595 | +65 | ||
| 27 | EU/US | L | 1.357 | 1.355 | 1.366 | +90 | ||
| 26 | EU/GB | S | 0.89 | 0.915 | TBD | -250 | ||
| 25 | US/CA | L | 1.055 | 1.052 | 1.065 | +100 | ||
| 23 | AU/US | S | 0.902 | 0.907 | 0.888 | +140 | ||
| 23 | AU/US | L | 0.901 | 0.904 | 0.9125 | +30 | ||
| 21 | EU/GB | S | 0.881 | 0.886 | 0.858 | -50 | ||
| 15 | Gold | S | 1100 | 1125 | TBD | -25 | ||
| 12 | US/JP | S | 90.30 | 91.30 | 87.50 | -100 | ||
| 10 | AU/JP | S | 77.95 | 81.5 | TBD | -355 | ||
| 9 | US/CA | L | 1.071 | 1.025 | TBD | -460 | ||
| 9 | Gold | L | 1066 | 1062 | 1075 | +9 | ||
| 8 | US/CA | S | 1.071 | 1.077 | 1.055 | -60 | ||
| 8 | GB/JP | S | 139.5 | 143 | TBD | -350 | ||
| 8 | EU/GB | S | 0.8775 | 0.8855 | 0.868 | +95 | ||
| 8 | Gold | S | 1075 | 1125 | 1060 | +15 | ||
| 8 | EU/US | L | 1.364 | 1.3685 | 1.3755 | +91 | ||
| 5 | US/JP | S | 90.30 | 90.10 | 88.3 | +20 | ||
| Jan | Unit | L/S | Entry | Stop | Target | Pips | ||
| 29 | EU/GB | L | 0.865 | 0.869 | 0.873 | +80 | ||
| 29 | US/JP | L | 89.7 | 89.20 | 90.45 | +75 | ||
| 25 | US/JP | L | 90 | 89.20 | 90.45 | +45 | ||
| 22 | US/JP | L | 90.15 | 90.15 | TBD | S/O | ||
| 22 | AU/US | S | 0.9135 | 0.918 | 0.903 | +105 | ||
| 21 | US/JP | S | 91.80 | 92.50 | 90.2 | +160 | ||
| 21 | US/JP | L | 91 | 90.3 | 91.8 | +80 | ||
| 19 | AU/US | S | 0.925 | 0.933 | 0.91 | +150 | ||
| 19 | Gold | S | 1138 | 1147 | 1104 | +34 | ||
| 16 | EU/GB | S | 0.887 | 0.903 | TBD | Exp | ||
| 14 | EU/US | S | 1.454 | 1.4447 | TBD | +93 | ||
| 07 | US/JP | S | 93.65 | 93.35 | 92.95 | +30 | ||
| 05 | US/JP | S | 92.5 | 92.5 | 90 | S/O | ||
| 04 | EU/US | S | 1.445 | 1.4485 | 1.41 | -35 | ||
| 04 | AU/US | S | 0.91 | 0.92 | 0.85 | -100 |
N.B. Several people have questioned me about my terrible performance in February. Those losses were due to lack of money management skills, not bad analysis. See my early March postings for a more details about those problems, and what I have been doing to fix them.
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