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375 Pips Profit from 2 Trades Today


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Daily Trading Strategy Report: AUD/JPY - Ojective Met: 135 Pips Profit!

Written by www.imperialFXonline.com

Objective Met: Further consolidative move below 84.77

Time: May 14 2010, 09:43GMT

Rate: 82.50
Strategy: Target Met
Position: Short at 83.85
Target: 82.50
Stop:

• Outlook remains mildly bearish as long as 84.77 resistance holds
• A breach of 81.97 encourages further losses to 81.00 and then possibly 80.00

Aud/jpy's retreat from Monday's high at 84.77 (just below the measured fibonacci retracement level at 84.82) is keeping price under pressure these days especially with the increase in risk aversion and although the bounce from Wednesday's low at 82.21 suggests choppy sideways trading is seen in the near term, falling daily MACD and moving averages should a bearish outlook prevail for another decline and below 82.21 would lead to further losses to 81.97 and then 81.00 before prospect of a rebound due to short term exhaustive oscillators.

We are continuing to hold our short position and the stop is now moved to 83.35 to protect some of the profit. On the upside, only a breach of 84.77 would defer this bearish scenario and risk an upmove towards another fibonacci retracement level at 85.95 instead.

Written by www.imperialFXonline.com



Daily Trading Strategy Report: GBP/USD - Ojective Met: 240 Pips Profit!

Written by www.imperialFXonline.com

Objective met: Possible end of the correction 1.4476

Time: May 14 2010, 06:04GMT

Rate: 1.4560
Strategy: Target Met
Position: Short at 1.4800
Target: 1.4560
Stop:

• Cross trading flows to result in eventual resumption of downtrend
• Resistance is building up at 1.4720

Sterling has continued to fall as yesterday's release of the U.K. trade data (which saw the deficit balloon to 7.5 billion pounds) has highlighted the bearish sentiment on the U.K. economy and it is now likely that the correction from the low made last week at 1.4476 has ended at 1.5055, there is potential in the near term for further losses to 1.4560 but below 1.4500 is needed for a re-visit of 1.4476 ahead of 1.4400/10.

The stop for our short position has been lowered to protect some of the profit. Only above 1.4720 (previous support) would negate this bearish outlook and result in a rebound to 1.4810/20.

Written by www.imperialFXonline.com


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