EUR/USD Briefs and NZD/USD Chart Analysis
Posted on July 15, 2009 at 1:45 in Uncategorized by Ross YamashitaNo Comments »

Hello again.

The EUR/USD appears like it’s forming a nice Contracting Triangle (CT) formation on the 10 minute chart. Remember, as we move along and get further and further into the triangle, we’re going to see a breakout soon. Be prepared for that.

Looking at other currency pairs, let’s pull up the NZD/USD 10 minute chart. It seems like the latest movement is potentially unfolding in a bullish movement. We went up to form Wave 1, then down for a quick Wave 2 and am now heading back up for a Wave 3.

At this point we don’t know if it’s going to be a 3 wave or 5 wave movement yet, but the shorter term sentiment appears to be bullish.

Good luck with your trades and be sure to use your protective stops. Cheers.

NZD/USD

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NZD/USD Trade Analysis
Posted on May 29, 2009 at 1:41 in Uncategorized by Ross Yamashita3 Comments »

Ending diagonals are another formation we like to trade - although these can be very tricky and VERY frustrating. It’s really hard to determine how far the 5th wave of the ED will go before changing direction.

Pro Pipper Trading

We drew our two trendlines in. Look for the currency pair to test the bottom trend line, go back up and then drop down.

Looking at the daily chart, it seems as if we’re forming a strong, impulsive movement so the larger wave down on this 5 minute chart could be the start of the retracement on the daily chart.

Again, use extreme caution when trading these. Check your announcements and definitely place your stops.

Good luck and we hope everyone has a great weekend.

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