Review of Trades

EURUSD
Sometimes trading this pair was a bit difficult but trading strategy so far seems sound. Buy opportunities were at the breakout from bullish flag on Feb 17. A test of the flag on 2nd was another opportunity to long the pairFirst sell at 1.3850 worked to bring. First resistance at 1.3745/70 put up negligible fight while 2nd resistance at 1.3850 put up a fight worth slightly over 100pips. Daily close above & successful test of 1.3850 gave a target of 1.3946/66. Initial short at 1.3966 level failed after EUR closed above weekly trendline. But the next day provided another short opportunity when MACD & Stochastics diverged on 4 hourly charts & Euro spike was quickly reversed. Short target at 1.3870 has now been reached. It is now sitting at 50MA on 4H chart and a trendline on daily chart. Below 1.3850 is a sell & above 1.3950 is a buy to 1.4150 and if it is reached then 1.4270/80

EURAUD
Not much to say here yet & I am still bullish on this pair for following reasons:
a) monthly stochastics is above zero for the first time since Mar 2009 & weekly stochastics is rolling up again
b) weekly downtrendline that was part of the downtrend channel or a wedge (depending on how you draw it) has been broken and left behind
c) weekly candle is bullish
d) daily 50MA is now below and has started to trend up. Admittedly it happened before (Jun 2010) but even then it was much less steep. It has also spent the most number of days above 50MA since Jan 2009.

It appears to be forming cup & handle pattern on dailies (stochastics also rolled down) and on 4H charts the price is within small downtrend channel or wedge again depending on how you draw it. A test of buy area at 1.3720/30 took place today and up to a swing high of 1.37 is a buy. Daily close below 1.3670 would be a cause for concern on a short term basis. A daily close below 1.3490 will indicate a test of 1.3320 is under way.

EURCAD
Was waiting for a buy confirmation but it is testing the bottom of the triangle instead. It looks like it is ready to surprise to the downside instead. Daily close beneath triangle and in particular 1.3380 does not bode well for Euro.

EURGBP

Nothing has happened so far. Long position in place, still waiting for the move.

NZDUSD
Sold the pair back in Feb 10th, posted trade ideas on this pair on 12th. NZDUSD provided ample opportunities to sell short on 18th & 21st when it tested the level of its triangle breakdown approximately at 0.7630-50 area. Then on 21st NZD made doji & the next day it collapsed on the back of an unfortunate event - eathquake - in New Zealand. But doji before eathquake?! Coincidence or not but it is simply incredible!!! Anyhow very strong support at 0.7355 is still holding and i expect a bounce to 0.7430 or above which should be shorted. Original target at 0.7170 based on triangle measuring implications is still achievable

GBPAUD
Plan did not work and i was out in a jiffy on this one with a small loss thanks to continuous stop loss adjustment.

GBPJPY
Another trade gone sour. The amusing thing is that it is back where i bought it and still looks bullish to me.

JPY
Out with a tiny loss but this beast still looks bullish to me. It is now within a multi-week triangle. My adventurous side tells me a long to 0.8370 looks feasible while classical TA tells me to wait for JPY to close above it.

CHF
Minor target at 0.9750 reached but from there it was downhill.

Overall, not too bad but need some improvement on timing the trades & profit taking.