Trade Update - EUR/CHF Long

Reason/Setup:
Another trade based on the OzFX setup on 4 hour chart. Today the trend seem to be that all CHF and Yen pairs are rallying. The price action on this pair is good. Strong up trend with solid volume. The indicators are also strong and show good uptrend.


Trade Details:
Date: May 12 2008, 12:15 am
Entry: 1.61554
Lots: 5
Stop: 1.60804
target: 1.62304

Trade Update - EUR/JPY Long

Reason/Setup:
Once again trade based on OzFX setup on 4 hour chart. Price action hasen't been showing much on this pair like other trades, but the indicators still show a buy. The Stoch is crossing the 0 line, and the AC and AO show multiple green bars.

I have placed the stop below the previous low, and the target is just below the 50 EMA.


Trade Details:
Date: May 12 2008, 12:10 am
Entry: 159.455
Lots: 5
Stop: 158.55
Target: 161.06

Trade Update - USD/JPY Long

Reason/Setup:
Yet another trade I entered today based on the OzFX setup on 4 hour chart. They all have very similar chart pattern. So I have a feeling, if I am wrong about even one of them, I will probably be wrong about them all since they look so similar. In this pair, the Stoch has actually crossed the 0 line and hence its a valid signal.

My concern is with the placement of the target. I have placed the stop 100 pips away, and hence the target is also 100 pips away. But the 200 EMA line is just 50 pips away and provides resistance. So I am skeptical if my target will be hit.


Trade Details:
Date: May 11 2008, 11:55 pm
Entry: 103.544
Lots: 5
Stop: 102.544
Target: 105.544

Trade Update - USD/CHF Long

Reason/Setup:
Yet another chart patters tats similar to the trade I entered today. Trade signaled by the OzFX setup on 4 hour chart. Price action looked strong with good volume. Indicator are also showing strong signal.


Trade Details:
Date: May 11 2008, 11:55 pm
Entry: 1.04918
Lots: 5
Stop: 1.0401
Target: 1.05418

Trade Update - GBP/CHF Long

Reason/Setup:
This trade is based on the OzFX setup on 4 hour chart. The chart pattern looks very similar to the GBP/JPY trade. The Stoch has not yet crossed the 0 line, but I feel the uptrend is strong. Due to the volatile nature of this pair, the stop is placed very wide, and the target is 100 pips away just below the 50 EMA.


Trade Details:
Date: May 11 2008, 11:50 pm
Entry: 2.04369
Lots: 5
Stop: 2.02685
Target: 2.05689

Trade Update - EUR/GBP Short

Reason/Setup:
This trade is signaled based on the OzFX setup on 4 hour chart. We have seen some consistent price action down on this pair on good volume. And the stoch has now crossed the 0 line, and both the AC & AO are showing multiple red bars. Will this trend continue?

BTW, this trade was marked as a long on the OzFX forum. The daily chart does show an upward trend, but its coming to an end. I feel its the start of a strong down trend.


Trade Details:
Date: May 11 2008, 11:30 pm
Entry: 0.78932
Lots: 5
Stop: 0.79329
Target: 0.78532

Trade Update - GBP/JPY Long

Update 05-12-08 12:20 am:
Soon after I entered this trade, there was a strong rally by this pair, and my buy stop order was triggered, So I have entered with trade with another 5 lots. Here are the trade details.

Date: may 12 2008, 12:20 am
Entry: 202.28
Lots: 5
Stop: 201.28
Target: 203.31

Reason/Setup:
Entered based on OzFX setup on 4 hour chart. After a huge move down,the pair is beginning to bounce back. Hopefully this is not a short relief rally before another move down. I entered with just 5 lots as the stop and target is far away. I have also placed a buy stop order halfway to the target.


Trade Details:
Date: May 11 2008, 11:30 pm
Entry: 201.503
Lots: 5
Stop: 199.72
Target: 203.31