Daily Market Review for the 18.04.2011

NZD/USD

Time: 07:30 Rate: 0.7945

Strategy: short

Considerations:

Weekly time frame:

Wolf deviation in the indicators – potential for short in a shorter time range.

As can be seen by the graph bellow:



Daily time frame:

Opening of the week on the downward graph after a continuous upward movement of 880 pips

There was no third retracement in the upward movement

The resistance point of the high – 0.7980 5 of November 2010 (purple line)

The round resistance point – 0.8000

The level of 127.2 Fibonacci in 0.8018 of the downward movement C-D

As can be seen by the graph bellow:


:4 hour time frame

Short in the breakdown of the candle’s low (black dashed line)

First target the retracement area of 23.6% Fibonacci + round number 0.7800

Second potential retracement target 38.2% Fibonacci 0.7670

As can be seen by the graph bellow:


:Potential Trade

Short in the candle’s low breakdown 0.7920

Stop: 0.8030

First target: 0.7800

Second target: 0.7670

AUD/JPY

Time: 08:30 Rate:8765

Strategy: Short

Daily time frame

Considerations:

Stop in an important Fibonacci level (161.8%)

Continuous upward movement of 21% without retracement

Reversal Japanese pattern called “black cloud”

As of now, CC150 >100 entrance to short in the condition CC150 <100

Technical retracement target (38.2% Fibonacci) 84.20

As can be seen by the graph bellow:


:4 hour time frame

CC150 < 0

Enter in the breakdown of 86.85

Completed pattern AB=CD to a short target 85.40 (potential D point)

As can be seen by the graph bellow:


:Potential Trade

Short in the breakdown 86.85 in condition CC150<100 in the daily time frame

Stop over the last high (4 hour time frame)

First target: 86.85

Second target: 84.20


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Real-Forex team 

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