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| Binary Options Trade Summary 25 - 28th March 2013 |
Binary Options Trade Summary: 23 - 28th March 2013
Gross Profit: $1920
Gross Loss: $300
Net P/L: $1620
Showing posts with label audusd. Show all posts
Showing posts with label audusd. Show all posts
Binary Options Trade - Week of 25 - 28 March
Its been a great week and below is the summary of the binary options trade made. All the trades were entered based on the trading system from MT4 platform (Wolfe Waves) which gives a good indication of price and time, which is essential when setting the expiry times for the trades.
Binary Options Trade Summary: 23 - 28th March 2013
Gross Profit: $1920
Gross Loss: $300
Net P/L: $1620
Binary Options Trade Summary: 23 - 28th March 2013
Gross Profit: $1920
Gross Loss: $300
Net P/L: $1620
USDCAD - Trade Analysis (-60 Pips)
The USDCAD trade got stopped out. On closer look we see that the wave 5 formed only recently. However, the Stochastics show a bearish outlook on the daily chart whereas the 4 hour chart shows a bullish formation. Due to the conflicting analysis, we'll leave the USDCAD alone for now.
Update on EURUSD
The EURUSD trade was closed with some pips in profit. The reasoning being that for most of yesterday the pair was trading in a tight range and because the trade was opened for a couple of days, the rollover swaps was eating into the trade. Thus the EURUSD was closed with some great profits made. What's left of this trade is to sit out and watch if price will touch the 1.27 level today.
The open trades are the AUDUSD and AUDCAD.
There won't be anymore trades being done as the week is going to be short. So take it easy and prepare for a long nice weekend ahead.
Update on EURUSD
The EURUSD trade was closed with some pips in profit. The reasoning being that for most of yesterday the pair was trading in a tight range and because the trade was opened for a couple of days, the rollover swaps was eating into the trade. Thus the EURUSD was closed with some great profits made. What's left of this trade is to sit out and watch if price will touch the 1.27 level today.
The open trades are the AUDUSD and AUDCAD.
There won't be anymore trades being done as the week is going to be short. So take it easy and prepare for a long nice weekend ahead.
AUDUSD - Bears taking control?
I got a notification from Netdania about AUDUSD reaching the monthly highs. What I like about this service is that they send out forex price alerts whenever price hits a significant high or low. It was based on this alert, that I went about looking into the AUDUSD.
In the chart below I have the Wolfe waves plotted. When I include the Stochastics, we see that the bulls are still in control.
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| AUDUSD - Wolfe Wave Charts |
As such, what's interesting about this trade is the prediction that price is likely to drop to 0.9915 levels around mid May.
I'm including this trade under 'Interesting trade set ups' as this is something significant, considering my last successful analysis on the EURUSD, predicting a price drop in Mach, way back in February.
Conclusion
Trade Closed. Entry @ 1.04569, Closed @ 1.04145
Net P/L: 42.4 Pips
AUDUSD - Wolfe Wave Formation
Its been a while since I posted a new trade. Here we see the AUDUSD 4 hour chart and the formation of a Wolfe wave. Its still in the early stages so there is a good wave to ride.
I have placed a sell order at 1.03060 with take profit at 1.02034 and stop loss at 1.03335 (the point of wave 5). All in all, this trade looks to be quite interesting, given that the potential profit to be made is 1026 pips with risk at 275 pips.
I'm expecting this trade to close around the 17th of March.
Trade Set ups - Feb 25th
Weekly trade set ups for the week starting Feb 25th, 2012
Trade #: 2502AUDNZD
AUDNZD - 30 M, LONG
Entry: 1.23047
Exit: 1.23645 (598)
S/L: 1.22875 (77)
Time: 25th Feb 11:30
Notes: We see a perfect Wolfe Wave being formed, along with the contrary wave formation. However, price within the contrary wave hasn't yet been reached. Once this is confirmed, taking up entry at 1.23047 is ideal. Watch for any breach of the TL 1, 3, 5 from the main Wolfe Wave. Wait for reversal and then go long. Over all, i'm quite convinced on this trade set up.
Trade #: 2502AUDUSD
AUDUSD - 15 M, LONG
Entry: 1.03033
Exit: 1.04131 (1098)
S/L: 1.02738 (1393)
Time: 25th Feb 12:00
Notes: The AUDUSD 15 minute chart shows an incomplete Wolfe Wave, especially in the inner contrary wave. We expect price to fall to the main TL 1, 3, 5 at 1.03032. A possible piercing of the main TL 1, 3, 5 should be expected before price reverses.
Trade #: 2502EURJPY-1
EURJPY- 30 M, SHORT
EURJPY - SHORT
Entry: 123.338
Exit: 122.943
S/L: 123.591
Time: 25th Feb 03:30
Notes: There are two potential trades to be taken from the EURJPY chart. The first trade will be a short, as pivot 5 hasn't been formed yet. However, TL 1,3 shows the expected price when Pivot 5 is formed. Therefore, we go short at 122.945 and set our stop on the EPA line which is 123.444. We'll set our take profit at 123.44. This is better depicted in the next chart below.
Trade #: 2502EURJPY-2
EURJPY- 30 M, LONG
Entry: 122.528
Exit: 123.849
S/L: 122.209
Time: 25th Feb 08:30
Notes: This trade is still premature and built upon speculated price points. Therefore, trading this blindly could lead to a losing trade. On the otherhand, there is a possibility to book profits both on a bearish and a bullish bias.
On the longer term Wolfe Wave, we expect price to fall to the TL 1, 3 (5 hasn't been formed yet). Pivot 5 will be formed when the contrary wave is completed (and this will be our first trade, mentioned above).
Once pivot 5 is established, wait for price reversal to go long.
Footnotes
Because this is my very first analysis of Wolfe Waves, I will keep it simple, restricting my analysis to the 3 pairs, 4 trades. I will revisit these trades at or around the ETA for the trades to see how good or bad we have done.
Trade #: 2502AUDNZD
AUDNZD - 30 M, LONG
Entry: 1.23047
Exit: 1.23645 (598)
S/L: 1.22875 (77)
Time: 25th Feb 11:30
Notes: We see a perfect Wolfe Wave being formed, along with the contrary wave formation. However, price within the contrary wave hasn't yet been reached. Once this is confirmed, taking up entry at 1.23047 is ideal. Watch for any breach of the TL 1, 3, 5 from the main Wolfe Wave. Wait for reversal and then go long. Over all, i'm quite convinced on this trade set up.
Trade #: 2502AUDUSD
AUDUSD - 15 M, LONG
Entry: 1.03033
Exit: 1.04131 (1098)
S/L: 1.02738 (1393)
Time: 25th Feb 12:00
Notes: The AUDUSD 15 minute chart shows an incomplete Wolfe Wave, especially in the inner contrary wave. We expect price to fall to the main TL 1, 3, 5 at 1.03032. A possible piercing of the main TL 1, 3, 5 should be expected before price reverses.
Trade #: 2502EURJPY-1
EURJPY- 30 M, SHORT
EURJPY - SHORT
Entry: 123.338
Exit: 122.943
S/L: 123.591
Time: 25th Feb 03:30
Notes: There are two potential trades to be taken from the EURJPY chart. The first trade will be a short, as pivot 5 hasn't been formed yet. However, TL 1,3 shows the expected price when Pivot 5 is formed. Therefore, we go short at 122.945 and set our stop on the EPA line which is 123.444. We'll set our take profit at 123.44. This is better depicted in the next chart below.
Trade #: 2502EURJPY-2
EURJPY- 30 M, LONG
Entry: 122.528
Exit: 123.849
S/L: 122.209
Time: 25th Feb 08:30
Notes: This trade is still premature and built upon speculated price points. Therefore, trading this blindly could lead to a losing trade. On the otherhand, there is a possibility to book profits both on a bearish and a bullish bias.
On the longer term Wolfe Wave, we expect price to fall to the TL 1, 3 (5 hasn't been formed yet). Pivot 5 will be formed when the contrary wave is completed (and this will be our first trade, mentioned above).
Once pivot 5 is established, wait for price reversal to go long.
Footnotes
Because this is my very first analysis of Wolfe Waves, I will keep it simple, restricting my analysis to the 3 pairs, 4 trades. I will revisit these trades at or around the ETA for the trades to see how good or bad we have done.
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