FX Trading Strategies

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Fx Trading Strategies, Forex Trading Strategies Using the Elliott Wave principle in different time frames with the tradinglevels, however the TradingLevels also come with a scalping and money management course at the Tradinglounge.com.au + FX Trading Strategies Free Trial
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Forex Trading, Currency Trading, Forex Elliott Wave, Forex Trading Strategies, Forex Technical Analysis, Forex Analyst, Forex Trading levels, Forex Analysis, Forex Strategy, Forex Scalping, Forex AUDUSD, Forex EURUSD, Forex GBPUSD, Forex USDCAD, Forex JPYUSD,  Forex USDCHF, Elliott Wave AUDUSD, Elliott Wave EURUSD, Elliott Wave US Dollar, Forex Mentor, Forex Trading Coach   Indices & FX Trading Strategies ReportDow Jones – 12,184 +1.55%
Base Metals Positive
US Gold CFD: 1711
Oil WTI CFD: 99.77
Copper CFD: 356
US Dollar CFD: 78.59
EURUSD 1.3380
AUDUSD 1.0214
Dow Jones CFD 12,218
S&P500 CFD: 1259
FTSE 100 CFD: 5560
SPI CFD 4255
CFD Commodities

US Gold CFD: 1711
The pattern sitting on 1700 is corrective and once completed will break lower.
The price is trapped within SG1 with the current resistance at 1720, if 1710 becomes the resistance then the move down would have started and an expected break down through 1700 would be continuing and the place to add to shorts.
The risk, is in the current correction sitting on 1700, in that, corrective patterns can expand and that a move to 1730 before tuning lower can occur, this would be in line with the Indices and Euro edging higher for a short time.Oil WTI CFD: 99.77
There’s nothing much to say or do with Oil while its working the 100, the price will stay within the MG1{101 | 102 | 103}  above and the first MinorLevel below 98 a break out of this range will be the trade as 100 support or resistance.
The Elliott count we have is for a move lower, however the short term over the days ahead is positive in line with one more possible push in Indices such as the Dow to 12,272 – 12,337 area.Base Metals

US Spot Prices (in l/b)
US Copper:           Last: 3.56+
US Nickel:             Last: 8.42+
US Zinc:                Last: 0.90+
US Aluminium       Last: 0.91+Copper CFD: 356
The price is firmly above the Midpoint 350 and should follow the indices higher, with a target into SG2 {365|372|380} with 372 being the most accurate, a move above 363 would technically satisfy the fifth wave.
The main point here offers a positive bias for the ASX and AUD markets and therefor places us long rather than short for the near term onlyForex

US Dollar CFD: 78.59
While the Indices are edging higher completing their last sub waves over the next two or three sessions the Euro will follow higher and the US Dollar will be forced down back towards 78, start counting five waves down from the last high 79.15 on the 9/12th Once this is completed expect the Dollar to move above 80

EURUSD 1.3380
TradingLevels: The bounce of 132 on the 25/11th is corrective and it’s not completed, we can expect a move up over the sessions ahead in line with the SP500, the Euro and SP500 should top out together
Elliott Wave: Look for five waves up of the last low 13280
Trading Strategy: Support on 1.34 creates the bias for further upsideAUDUSD 1.0214
TradingLevels: Allow it time to develop at 102, the price should stay within the SG2 and SG1 range for a corrective pattern, after this corrective pattern finishes then look to trade either long or short depending if the 102 is support or resistance
Elliott Wave: Corrective pattern up from the last low 10150 it can go as far as 10272 – 103 as c of b) once completed a move down in five waves
Trading Strategy:  Use Support on 10230 as support for long trades and 10172 as resistance for the short trade
11:30am  AUD        Home Loans m/m    0.2% 2.2%  
11:30am  AUD        Trade Balance    2.12B 2.56B  

Indices

Dow Jones CFD 12,218
TradingLevels: 12,000 is support, the next important support is 12,300 this is the top of Group1 and support on 12,300 separates it from the 12,000 story, finding support on top of 12,300 is critical  for the next degree of wave structure to be positive, there are a few critical number a stock fails at and the top of Group1 is one of them, so the 12,300 is something we can keep in mind.
Short term wave ratio’s place the next high at 12,272 to 12,337 first expect a small corrective pattern at 12,200 and within SG1 and SG2 of 12,200
Elliott Wave: Looking a five waves up from the last low 11,961 to 12,300+
Trading Strategy:  for the market to remain positive, it must remain above 12,134. If you’re going short term long, then wait for solid support on 12,200, a small corrective pattern first across 12000 then support before going long, as the current move up is actually only three waves i.e. corrective abc so it can fail right here, so as long as it stays above 12,500 as support a long trade is safeS&P500 CFD: 1259
TradingLevels: Above the Midpoint and the market  is positive
Wave count: count five waves up from the last low 1230, with a possible target 1272 - 1337
Trading Strategy: The Dow is leading to the upside the SP is laggingFTSE 100 CFD: 5560
TradingLevels: We should a new high above the 5600 resistance closer to 5650 - 5672
Elliott Wave: Same as the other Indices looking for five waves up from the last  low 5413
Trading Strategy: Resistance SG2{5565|5572|5580} 8:30pm  GBP CPI y/y    4.8% 5.0%  

SPI CFD 4255
TradingLevels: The price will attempt to get back above 4300 the top of Minor Group1
Elliott Wave: Same as the other indices, looking for five waves up from the last low 4165 technically a move above 4350
Trading Strategy: Trade the sublevels looking for support on SG2 4230 then 4250 the resistance is 4272 and the beginning of supply News: 11:30am  AU Trade Balance  Summary

186 point rise for the Dow was kinda low for a Euro solution; I wonder how much more steam there is in the trend up…
There are two Elliott wave counts up at least for the short term, one that end right here and another that continues to move up for roughly three days with a target on the Dow around 12,272 to 12,337, we are looking for Wave C of (2) top somewhere up here.
Most Indices have the same short term patterns and we are looking at counting five waves up from Thursday / Fridays lows, once these five waves are completed cover all long trades and wait for short trade set ups. If we are correct we will be looking for long term short trades in the Indices.
Trading QuoteTrading is a game of probabilities. You don’t have to be right every time. You just have to follow your rules.

Today's Financial Events
Time     Currency   Detail     Forecast    Previous

8:00am  NZD        Westpac Consumer Sentiment     112.0  
10:50am  JPY        CGPI y/y    1.5% 1.7%  
11:30am  AUD        Home Loans m/m    0.2% 2.2%  
11:30am  AUD        Trade Balance    2.12B 2.56B  
4:00pm  JPY        Household Confidence    38.5 38.6  
5:00pm  JPY        Prelim Machine Tool Orders y/y     26.0%  
12th-15th  CNY        New Loans    552B 587B  
12th-15th  CNY        M2 Money Supply y/y    12.7% 12.9%  
6:00pm  EUR        German WPI m/m    0.3% -1.0%  
7:15pm  CHF        Employment Level    2.79M 2.77M  
5:10am  CAD        BOC Gov Carney Speaks      
6:00am  USD        Federal Budget Balance    -138.0B -98.5BNOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.

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Shares Technical Analysis

Elliott Wave Theory, TradingLevels Method, Pattern recognition and Price and volume analysis used on global market drivers to understand market direction for the Australian Stock Market Share Trading and CFD Trading for our daily trades which we then use Mechanical trading methods tradinglounge.com. for a FREE TRIAL.


Shares Technical Analysis Report
Dow Jones – 12,142 +0.37%
Base Metals Negative
US Gold CFD: 1713
Oil WTI CFD: 101
Copper CFD: 357
US Dollar CFD: 78.37
EURUSD 1.34
AUDUSD 1.0240
Dow Jones CFD 12,137
S&P500 CFD: 1255
FTSE 100 CFD: 5567
SPI CFD 4300

News
NEW YORK -(Dow Jones)- U.S. blue-chip stocks rose but other indexes fell slightly, as investors weighed credit downgrade warnings for euro-zone nations with hopes that this week's summit of European leaders will yield results that combat the sovereign-debt crisis.The Dow Jones Industrial Average rose 35 points, or 0.3%, to 12133 in early-afternoon trade Tuesday. The action follows a choppy Monday in which the blue-chip Dow finished up 78 points, part of a 7.8% surge over the last six trading days.
CFD Commodities

US Gold CFD: 1713
This market is now clearly displaying an impulse wave down (five waves) so  we should soon see and abc three wave rally, this three wave rally is normally 61.8% that would be roughly 1740, but gold over the years has more of a bias of working to 50% rather than 618, from the levels point of view there are a few basic points, one are the supply points and the second one starts around 1740 to 1750 this is the main resistance, there is a small amount of supply around 1720+ apart from the all-important levels of supply are the levels, firstly is the 1730, it’s ok to trade above the top of group1 (1730) but finding support on it creates the target of 1750 then next level, also in this case because of the 72 the 1720 any support on 1720 creates a further bullish picture, but normally understanding Group1 support and Supply zones are the basics, then comes trading, or rather trading comes first and in trading being defensive comes first then attack, apart from the trading psychology is the trading plan and apart from the money management is the trading time frame or rather the degree of levels that you are trading MajorLevels MediumLevels MinorLevels or sublevels, if your trading time frame is the Minor or Sublevels and you are trading short, then you would simply cover any short positions at 1700 and then wait for the rally or 1700 to become the retested resistance, if you are trading the Medium  you would be short with a stop above the 1750 and would be looking to add either on the rally or 1700 as resistance, all you need to be is clear on your plan and method

Silver: Look for a rally abc, the main rally target would be 32.72 SG2Oil WTI CFD: 101
Subgroup1 {SG1 101 |102 | 103} is hold the price to 100 (TL1) and while the price is above 100 the market is supported and the bias is long, the Indices and dollar will influence Oil.
The next question is, will SG1 103 develop as support, the wave count suggests higher prices but the wave count is counted as a corrective rally that is expected to end above 103, so the support on 103 becomes doubly importantBase Metals

US Spot Prices (in l/b)
US Copper:           Last: 3.56-
US Nickel:             Last: 8.21-
US Zinc:                Last: 0.91-
US Aluminium       Last: 0.93-Copper CFD: 357
The pullback towards 350 is considered corrective (wave iv) and corrections can expand on themselves but as long as the price stays above the 345 or better still the 347 with the main theme at 350 this market will remain bias bullish, the wave count on Gold, precious metals is bearish and this is a concern to a point and monitoring both precious and base metals will be important. The short term resistance is 358 - 360 the old highs followed by 365 and 372Forex

US Dollar CFD: 78.37
On our Euro charts we have the pattern as corrective and should push up from current lows and therefor would see the dollar down from the current SG2 {78.80 | 78.72 | 78.65} zone, so if the 78.65 becomes the resistance then expect the price down to 78.50 Midpoint and lower, if however the price finds support on the 78.72 then the 78.80 then obviously the move up has started, when it comes to trading the support and resistance on the price points are more important than the guessing game of Elliott, once this penny drops your trading and consistency  improves

EURUSD 1.34
TradingLevels: look for support on the Fibo number 34 (1.34)
Elliott Wave: From the Charts the Wave (c) of B is completed and a move higher, in line with the AUD and Indices
Trading Strategy: If the Elliott count is correct the bias is up and therefor you can use the 134 as the bias and Group1 {13410 | 1.3420 | 1.3430} to build the long tradeAUDUSD 1.0240
TradingLevels: support on 1.02 creates the support and the target for 103+ support on 1.03 creates the target 1.05 the next level
Elliott Wave: Wave v) up from the last low can take the price anywhere from 103+ to 105
Trading Strategy:  Trade long, use the 102 stops below and then use SG1 Midpoint SG2 the main game is to find support on 103. Looking for five waves up from the last low 1.0155
11:30am  AUD        GDP q/q    1.2% 1.2%    


Indices

Dow Jones CFD 12,137 (430AM)
TradingLevels: Support 12000 and a new high expected
Elliott Wave: Wave v) higher
Trading Strategy:  Short term traders, build long on 12,050 12,172 and 12,200S&P500 CFD: 1255
Shares Technical Analysis TradingLevels: 1250 as support is positive however the 1272 will offer strong resistance, the SG2 is 1265 | 1272 | 1280 with the MinorLevel 1300 (mTL3)
Wave count: Expect a corrective pattern from the 1272
Trading Strategy: As long as the price is above the Midpoint 1250 the market is positive and higher ground is expected in line with currenciesFTSE 100 CFD: 5567
Shares Technical Analysis TradingLevels: Main support 5500 with higher prices expected, I don’t know if the price will first pull back to say 5530 before moving up or it will move up from the 5572 SG2  zone, certainly support on 5600 is a key for adding or being long into the Euro meeting
Elliott Wave: It’s a corrective pattern above 5500 either an abc or a triangle abcde once completed should push higher, both corrective pattern should stay above the 5500, we can talk about this is in the video 
Trading Strategy: The wave count is up in line with the Euro meeting, bias long above 5500

SPI CFD 4300
TradingLevels: 4300 should develop support and the price push higher
Elliott Wave: Wave v up, looking to count five waves from the last low 4256
Trading Strategy: Bias long from the 4300  11:30am  AUD        GDP q/q    1.2% 1.2%   Shares Technical Analysis Summary

Summing up, it appears markets will push higher into a wave five, the small corrective patterns say o the Dow or SP500 are just that corrective, either a small triangle or zigzag abc pattern, we should see all Indices push higher as well as AUDUSD and EURUSD.
The Weekly Cycle id for a high on the Wednesday close, It would be logical to consider the Euro meeting a market positive and to be long at least into the Friday, the Monday can be another story
Trading QuoteBend your view to the charts, not the charts to your view.

Today's Financial Events
Time     Currency   Detail     Forecast    Previous

11:30am  AUD        GDP q/q    1.2% 1.2% 
4:00pm  JPY        Leading Indicators    91.8% 91.6% 
5:45pm  CHF        Unemployment Rate    3.1% 3.0% 
6:45pm  EUR        French Trade Balance    -5.8B -6.3B 
8:00pm  EUR        Italian Industrial Production m/m    -0.2% -4.8% 
8:30pm  GBP        Manufacturing Production m/m    -0.1% 0.2% 
8:30pm  GBP        Industrial Production m/m    -0.3% 0.0% 
10:00pm  EUR        German Industrial Production m/m    0.3% -2.7% 
2:00am  GBP        NIESR GDP Estimate     0.5% 
2:30am  USD        Crude Oil Inventories     3.9M 
7:00am  NZD        Official Cash Rate    2.50% 2.50% 
7:00am  NZD        RBNZ Press Conference     
7:00am  NZD        RBNZ Rate Statement     
7:00am  NZD        RBNZ Monetary Policy Statement     
7:00am  USD        Consumer Credit m/m    7.0B 7.4B 
8:45am  NZD        Manufacturing Sales q/q     2.1%
Shares Technical Analysis



NOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around. Good Morning & Good Luck!

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