Trading Room: European Session

[alisha_nabila]

Assalamualaikum everyone,

For your information, we would like to give a free Daily Summary for Forex trading 'European Session' to you.

Hopefully, what we share will be beneficial to all of you!

Final words from us, good luck!

 

[MuhammadAzeem]

Hello Traders

This is an update about GBP/JPY sell trade, using Elliott wave.
I took a sell trade based on a bearish Expanded Flat pattern in GBP/JPY, 4 hours chart.

So far price has moved in my favour but the trade is still open.
You can see the image screen shot of my trading terminal which shows my sell entry,
stop loss and take profit level.

 

[MuhammadAzeem]

Hello Traders

This is an update about GBP/JPY sell trade, using Elliott wave.
I took a sell trade based on a bearish Expanded Flat pattern in GBP/JPY, 4 hours chart.

Today, 5th April 2015, price reached my take profit level at 156.71. So, I have closed my sell trade
with a total profit of 252 pips profit in GBP/JPY currency pair.

You can see the image screen shot of my trading terminal which shows my sell entry, stop loss and
take profit level.

 

[MuhammadAzeem]

USD/CAD 4 hours chart - update

Hello Traders

This is an update about USD/CAD 4 hours chart.
You can see the image screen shot of my trading terminal.

Trend is bearish in 4 hours time frame. Vital resistance is present at 1.3295 price level.
Price has move up, which looks like a possible bearish Running Triangle pattern that belongs to Wave 4.
Based on Elliott wave analysis, price should start the decline now to print bearish Wave d leg.

So, as long as price stays below 1.3295 resistance level, the trend is going to remain down and we could
look for a sell trade. However; if price breaks above 1.3295 key resistance level then bearish trend is going
to fail. In such case I will stay out of the market and re-analyze the price action in USD/CAD
four hours chart.

 

[MuhammadAzeem]

AUD/USD 4 hours chart update

Hello

This is an update about AUD/USD 4 hours chart.
You can see the image screen shot of my trading terminal.

Trend is bullish in four hours chart. Important support is
present at 0.7475 price level. In past few trading days, price
is trying to print a possible bullish Running Triangle pattern.
In my judgement, price has completed bearish Wave c. Now, price
is moving up to finish bullish Wave d leg.

Wait for the price action to print all the Running Triangle legs
and then look for a buy trading chance to join an up trend.
However; if price breaks below 0.7475 critical support level
then I will not take a buy trade and I will re-analyze the price
action of AUD/USD currency pair.

 

[MuhammadAzeem]

Hello

This is an update about GBP/USD 4 hours chart.
You can see the image screen shot of my trading terminal.

Trend is bearish in four hours time frame. Critical resistance
level is present at 1.4666 price level. In last few trading days,
price action has showed signs of selling pressure and looks like
bearish Wave d is now in progress. Based on Elliott wave analysis,
current price looks like a bearish Running Triangle pattern.

So, a good idea is to look for a sell trade. However; a decisive
bullish break out in price action above 1.4666 resistance level
will change down trend and then I might like to quit trading
GBP/USD currency pair and redo 4 hours chart analysis.

 

[MuhammadAzeem]

AUD/USD 4 hours chart Elliott wave analysis

Hello

This is an update about AUD/USD 4 hours chart.

Trend is bullish in four hours chart. Important support is present at 0.7475 price level.
In past few trading days, price is trying to print a possible
bullish Running Triangle pattern. In my judgement, price is moving
up to complete bullish Wave d.

So, Wait for the price action to print all the Running Triangle
legs and then look for a buy trading chance to join an up trend.
However; if price breaks below 0.7475 critical support level then
I will not take a buy trade and I will re-analyze the price action
of AUD/USD currency pair.

 

[MuhammadAzeem]

Hello

This is an update about USD/CHF 1 hour chart.

In my judgement, there is a possible buy trade setup present
in 1 hour chart of USD/CHF currency pair. In terms of Elliott
wave analysis, it is known as Ending Diagonal. So, I went long
today and hopefully, price is going to move in my favour.

I have placed a stop loss and take profit level.
Please note, always trade with a stop loss If you are not
using stop loss in your trading then you are just asking
trouble in your trading carrier.

For my buy entry order, stop loss and take profit level,
see the attached screen shot of my trading terminal.

 

[MuhammadAzeem]

Hello

This is an update about USD/CHF 1 hour chart.

I took a buy trade in USD/CHF currency pair, yesterday.
My trade was based on Elliott wave analysis. There was a
possible Ending Diagonal present. So, I went long and
market did move in my favour.

As price has moved in my favour, I have locked in
+38 pips profit and I am waiting for the market to reach
my take profit level at 0.9678 area.

To me; it is now a free trade as I have raised my stop loss
and now using a protective trailing stop.

For my buy trade status, entry order, trailing stop and take
profit level,see the attached screen shot of my trading terminal.

 

[MuhammadAzeem]

USD/CHF Buy trade closed with 102 pips profit

Hello traders, this is an update about my USD/CHF long trade.
I took a buy trade few days ago in 1 hour chart of USD/CHF
currency pair, using Elliott wave principle. Now, I have
manage to closed my buy trade with a decent sized 102 pips
profit. Target hit and profit booked. I am now out of the
market. See my trading terminal screen shot image which
shows my account history.