View Full Version : Elliott Wave Trade Ideas Performance Update - Aug 01 11

08-01-2011, 04:44 PM
Elliott Wave Trade Ideas Performance Update

The short position entered in USD/CAD in the previous week (22 July) was finally squared at 0.9450 as we found support at 0.9407 was a tough nut to crack, after we squared the short position with 50 points profit, the currency pair did rebound last week to as high as 0.9590 on Friday.
Another position entered in the previous week was the long EUR/JPY at 112.30 (also on 22 July), although euro did rebound to 113.54 early last week, the pair then retreated after faltering below previous resistance at 113.57, the pair was stopped at break-even, price then continued to move lower to as low as 110.39 on Friday.
We ventured long in EUR/GBP but the single currency was hurt by eurozone debt crisis and retreated sharply from last week’s high of 0.8883, so we exited our long position entered at 0.8770 with small losses at 0.8755, price then dropped to as low as 0.8730 today.
One long position was entered in aussie at 1.0950 after seeing the pair surged to fresh record high of 1.1081 and the position is still running.

In short, 3 positions were squared among the 4 currency pairs last week with a total profit of 35 points and the positions entered are listed below.

22 Jul: USD/CAD - Short at 0.9500, exited at 0.9450 (+50 points)

22 Jul: EUR/JPY - Long at 112.30, exited at 112.30 ( 0 point )

28 Jul: EUR/GBP - Long at 0.8770, exited at 0.8755 (-15 points)

29 Jul: AUD/USD - Long at 1.0950,

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