Wednesday, July 16, 2008

Continuation on the 4 Majors on 14-15 July 2008

Generally, by looking at the daily chart (which I'm too lazy to post) -

EUR/USD - Uptrend
GBP/USD - Uptrend
USD/CHF - Downtrend
USD/JPY - Downtrend

So I'm looking at a reversal after the retracements for all 4 majors on the Hourly Charts.

Not gonna go much into details, basically the criterias for all are the same:
1) Fibo retracement
2) Signs of reversal at around either 50% or 61.8% + candlestick patterns
3) 6SMA and 23 SMA cross
4) Parabolic SAR below for Long, above for short.

Here are the charts.
EUR/USD

GBP/USD

USD/CHF

USD/JPY


Profit/Loss:
EURUSD + 80pips
GBPUSD + 90pips
USDCHF + 70pips
USDJPY + 60pips

Total + 300pips

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