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Daily Majors Technical Analysis
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AUD/GBP Trade Set Up
Fri, Jul 25 2008, 04:39 GMT
by Ross Yamashita
Hello.
Our daily scan of the markets has brought up the AUD/GBP. We are posting this well before the Eropean opening so just watch for whipsaws before the opening of the market due to low volume.
Our analysis has shown a completed Wave 2 on July 1. If the pair goes under this price, the forecast would be invalidated. Because we are so close to a potential Wave 2 completion, the Risk vs. Reward ratio on this trade may be very appealing.
Watch the markets unfold before the opening of the European session and make your trading decisions from there, making sure to check for any important announcements coming out.
Be sure to check out our blog on FX Street. Click here.
Good luck and we'll see everyone next week. Have a nice and restful weekend.
Published on Fri, Jul 25 2008, 04:39 GMT
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CHF/NOK Long Term Sell Trade
Tue, Jul 22 2008, 04:18 GMT
by Ross Yamashita
Greetings. I hope everyone had a nice, restful weekend.
Our scan of the markets has picked up a long-term, CHF/NOK trade. Our analysis shows that we are in a Wave 3 down movement of a Zig Zag (ZZ).
If the pair was to go above the June 16 high, it would invalidate this forecast. For those of you not familiar with this pair, it can have some very big movements in a short time period so this is a good long-term pair to trade.
If you didn't already know, our very own Ross Yamashita has a blog on FX Street. Be sure to visit our blog for more detailed analysis, education and trade set-ups. You can visit our blog here.
For those of you that follow our forecasts on FX Street, we'd like to get your feedback on what information you'd like to read on our blog. Please visit the poll on our website and let us know what you want to see on our blog. You can visit our website here.
Good luck in your trading. Be sure to always use protective stops and your money management when trading. Capital preservation is key!
Published on Tue, Jul 22 2008, 04:18 GMT
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Long Term Outlook − CHF/SEK
Fri, Jul 18 2008, 05:29 GMT
by Ross Yamashita
Greetings.
Our scan of the markets has picked up a long term analysis on the CHF/SEK. As you can see on the charts, our analysis shows that we have completed a Wave 2 in May 2008 and we are now moving up in the Wave 3.
Again, being a very long term outlook, look for the pair to move up into the target area highlighted in the charts.
To see the latest updates from us, be sure to visit our 'Trader's Edge' blog on FX Street by clicking here. In it, you'll see more detailed breakdowns and trade signals to apply in your everyday trading.
We hope everyone has a very nice and restful weekend. See everyone again shortly.
Published on Fri, Jul 18 2008, 05:29 GMT
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GBP/JPY Trade
Mon, Jul 14 2008, 05:54 GMT
by Ross Yamashita
Greetings.
Our scan has picked up a forecast on the GBP/JPY. As you can see from the chart, we are in a sideways movement. Look for a nice, strong break-out to occur.
Our analysis shows that the invalidation point is at the end of Wave 2 and if the pair goes below that, it will invalidate this particular forecast.
For more information on our analysis, be sure to check out and sign up for our FX Street blog feeds by clicking here.
Published on Mon, Jul 14 2008, 05:54 GMT
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NZD/USD Trade Set Up
Tue, Jul 1 2008, 05:34 GMT
by Ross Yamashita
Hello.
Our analysis brought up the NZD/USD Hourly chart.
As you can see, we're looking at a completed 2nd wave of a Zig Zag (ZZ) and we're starting the 3rd wave down.
The invalidation point is where we have placed the completion of the "C" wave. If it goes above that point, then it will invalidate this forecast. If the pair heads down and breaks the "B" wave, then look for a continued move downward.
We are also proud to announce that we will start our blog with FX Street very shortly. I know many of you ask about how we arrive at our forecasts and the blog will give us a perfect chance to outline the way we come up with our forecasts, including all the technical indicators and Fibonacci analysis we do before executing trades.
Look for the Pro Pipper Trading blog coming soon!
Published on Tue, Jul 1 2008, 05:34 GMT
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EUR/GBP Trade Analysis
Thu, Jun 26 2008, 09:01 GMT
by Ross Yamashita
Hello.
Our analysis brought up the EUR/GBP on a shorter term trade.
As you can see from the screen capture, we have a bullish sentiment. The invalidation point is marked by the black line - meaning if the currency goes below this point, it will invalidate this forecast.
Good luck.
We are also proud to announce that we will start a blog with FX Street soon. We will use the blog to help explain and breakdown our analysis and both fundamental and technical analysis.
Published on Thu, Jun 26 2008, 09:01 GMT
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USD/ZAR Trade Analysis
Fri, Jun 20 2008, 08:21 GMT
by Ross Yamashita
Hello.
The scan of our charts brought us to a USD/ZAR analysis. Although not as widely followed as other pairs, the USD/ZAR can be very profitable.
We just saw a good move up and am looking at a retracement. The retracement has a little more to go before it makes it move back up again.
The big question is: when will the 2nd wave end? Well, you (as well as us) will need to focus in on that wave and do an analysis on it. Watch for trend changing signals. Also, you must get it out of your head that you need to enter long at the very bottom. You will do just as well by waiting for a solid confirmation the trend has shifted and we're heading back up.
Good luck!
Published on Fri, Jun 20 2008, 08:21 GMT
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EUR/GBP Analysis
Fri, Jun 13 2008, 07:15 GMT
by Ross Yamashita
Hello.
Our scan of the charts have picked up a EUR/GBP set up. Look for the pair to head up back up to the June 9 high of .8030+.
Looking at the European announcements, we have a pretty busy day with some good announcements/reports coming out. We have the CPI coming out for both Germany and Italy. Be sure you're aware of announcements that are coming out so you can monitor your trades.
We hope everyone has a great weekend this weekend. Father's Day is this weekend in the United States and we'd like to wish a happy Father's Day for all the fathers out there.
Published on Fri, Jun 13 2008, 07:15 GMT
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USD/ZAR Analysis
Wed, Jun 11 2008, 05:43 GMT
by Ross Yamashita
Hello.
We are looking at the Elliott Wave analysis of the USD/ZAR on a daily chart. Keep in mind that this is an analysis and not a trade - primarily because the invalidation is too far away. We don't want to lose that many PIPs in case the pair goes against us.
However, with that, you can plainly see the nice ZZ (Zig Zag) formation of the pair.
Always use stops and good money management when placing trades. Never forget that it's okay to not trade if there is not a good trade presented to us.
We will keep analyzing the charts and update you as we get a trade oppotunity.
Good luck.
Published on Wed, Jun 11 2008, 05:43 GMT
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Pre Non Farm Payroll Analysis − USD/CHF
Fri, Jun 6 2008, 07:44 GMT
by Ross Yamashita
Hello.
Looking at the USD/CHF, we are giving our analysis before the release of the opening of the European session and well before the NFP, which will come out later on today.
If you look at the attached chart, we are actually in 3 waves deep. We are in the 3rd wave, of the larger degree 3rd wave of an even larger degree 3rd wave, which you can't see from the graphic, but it starts back from late April.
As you can see, we formed the top of the smallest degree wave 1 and am now comleting wave 2. Just by visually looking at it, you can tell that wave 2 is not complete. Look for the wave 2 to complete somewhere in or near the shaded box. Once it hits the low and completes Wave 2, look for a nice wave 3 up.
Because we have the NFP coming out, be sure you tighten up your stops and protect your profits if you're currently in profits.
Good luck. We hope everyone has a nice weekend and we'll see everyone next week Monday.
Published on Fri, Jun 6 2008, 07:44 GMT
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USD/SEK Analysis
Wed, Jun 4 2008, 07:28 GMT
by Ross Yamashita
Hello everyone.
If you look at our chart of the USD/SEK, you'll see that our analysis indicates we're in a 3rd wave of an Impulse wave. We trade these waves quite frequently with nice results - when you can accurately determine it is indeed a Wave 3 Impulse.
You see the completion of Wave 1 and the 3 wave correction (a, b, c) to complete wave 2.
Look for the pair to move up.
The invalidation point is quite a ways away and that is something you need to take into consideration. You don't want to burn through all your capital to find out you were wrong. Use your money management and decide for yourself if this trade is worth it for you.
Because the invalidation point is so far away, it may be best to sit on this one and watch its movement throughout the trading day. The European markets are opening now and I'm sure we'll see some movement in it until the US market opens.
Good luck and preserve your capital, even if that means staying out of this trade. They'll be another trade out there, we just have to find it and take what the markets give us.
Published on Wed, Jun 4 2008, 07:28 GMT
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Update Coming Soon
Wed, Jun 4 2008, 03:08 GMT
by Ross Yamashita
Hello.
We are analyzing the charts and will have an update before the open of the European session.
Published on Wed, Jun 4 2008, 03:08 GMT
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GBP/USD − A Conservative Look and Trade Example
Fri, May 30 2008, 08:19 GMT
by Ross Yamashita
A little different analysis before we head into the weekend.
Here is an example of a very conservative entry for the GBP/USD. We have drawn in a trend line to help show the stop level that would make this trade invalid. Although our analysis shows that the May 28 bottom (1.9673) is the technical invalidation point for a buy trade, we're also looking at other factors.
Our Fibonacci analysis gives us our very conservative entry along with a stop price. At this entry point, we'd only be risking around 40 pips with a potential of a big move up. If our forecast proves to be invalid, we're putting our trading account at minimal risk.
We're looking at both a Wave 3 of a Zig Zag and Impulse wave, our 2 favorite waves to trade.
It's true our entry price may never get triggered, but this is an example of how to set a conservative trade that will minimize the loss to your trading capital.
Good luck.
Published on Fri, May 30 2008, 08:19 GMT
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Will USD/CAD hit parity?
Thu, May 29 2008, 07:32 GMT
by Ross Yamashita
Hello.
The USD/CAD is currently at around .9910 range and the question is - will it go to parity?
Our analysis shows that we are in a Impulse Wave 3 down and the top on May 28 was where Wave 2 ended. So, we are in a Wave 3 move down. It looks like we completed the first wave and we're heading into a Wave 2 retracement. The invalidation point for this trade is the high of May 28 (.9958) - although we put our stops a little higher to avoid getting taken out on a whipsaw.
Look for a shorter term target range of .9750.
Good luck and be sure to utilize your money management.
Published on Thu, May 29 2008, 07:32 GMT
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Short Term USD/NOK Analysis
Wed, May 28 2008, 06:37 GMT
by Ross Yamashita
Here is a short term analysis on the USD/NOK (Norwegian Krone). Although many people may not trade this pair, it is still a pretty good short term set up.
Look for the short term to be bullish. We're forming a Wave 3 of an Impulse Wave. As many of you know, we love trading Wave 3 of Impulse waves due to their strong movements. Don't forget this is a 30 minute chart so we are looking at a shorter term here.
Remember to apply your own money management to this trade, if you decide to take it.
Be sure to put your stops in and never cost average.
Good luck.
Published on Wed, May 28 2008, 06:37 GMT
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Happy Memorial Day & European Markets
Sun, May 25 2008, 21:30 GMT
by Ross Yamashita
Hello.
We'd like to wish everyone in the U.S. a happy Memorial Day weekend. We will be analyzing the charts later on today and be posting an update before the opening of the European markets.
Thank you.
Published on Sun, May 25 2008, 21:30 GMT
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AUD/USD Wave Count & Trade Set Up
Wed, May 21 2008, 02:08 GMT
by Ross Yamashita
Our analysis came up with a shorter term trade set up on the AUD/USD. We are in a Wave 3 of a larger Wave 3 up. If it goes below our "ii" level on the chart, then this forecast would be invalidated. Remember to apply your money management to all your trades and analyze your Risk vs. Reward.
There is not much in solid wave formations on the larger time frames and we do NOT trade when all of our criteria for a trade is not met. Although tough, you must resist the temptation to trade.
Good luck and we'll see everyone again shortly.
Published on Wed, May 21 2008, 02:08 GMT
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USD/CHF Short Term Trade Set Up
Fri, May 16 2008, 06:02 GMT
by Ross Yamashita
Hello.
We have a short term set up on the USD/CHF. We are in the 3rd wave of an Impulse on the hourly chart. We completed Wave 1, did a 3 wave retracement to complete Wave 2 and now we're heading up to complete a 5-wave move up to Wave 3.
You will have to use your shorter time frames to gain an entry point. You can also draw in some good trend lines and Fibonacci analysis to get an entry price.
Good luck and we hope everyone has a very nice, relaxing weekend.
Stay safe.
Published on Fri, May 16 2008, 06:02 GMT
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EUR/JPY Long Term Trade Set Up
Wed, May 14 2008, 07:19 GMT
by Ross Yamashita
Greetings.
As mentioned in our Sunday update, we're looking at a long term chart here for the EUR/JPY. This pair has actually been on our radar for a very long time now as the pattern is very strong.
You can't see it from the chart but we have a ZZ forming that starts way back in 2005. We see it hits a top to complete Wave 1, then goes down to Wave 2. We are now in the 3rd Wave of a ZZ which is a good wave to trade. As far as the inner workings go, you can see we went up to create a Wave 1 and am now working on completing a Wave 2. Once we complete the Wave 2, look for a good move up.
Although we didn't draw them in, you can see some pretty good trend lines forming and can use those, along with Fibonacci retracements to help determine a good entry point. You also must analyze smaller time frames to help you with a good entry point.
This is one of those we'd write about for one of our printed publications because it is still in its infancy phases but the long term outlook has a high probability of being bullish.
Good luck with this one and if we see some good trends/trades forming, we'll update everyone.
Take care.
Published on Wed, May 14 2008, 07:19 GMT
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EUR/JPY Summary − More To Follow
Sun, May 11 2008, 22:30 GMT
by Ross Yamashita
Our daily analysis is showing a bullish trend in the EUR/JPY. We will complete our chart analysis and post a graphic with explanation shortly.
Good luck.
Published on Sun, May 11 2008, 22:30 GMT
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USD/CHF Trade Set Up
Wed, May 7 2008, 07:34 GMT
by Ross Yamashita
Hello everyone.
Our analysis has brought a set up on the hourly charts of the USD/CHF. We are in the 3rd wave of an Impulse wave. 3rd waves of Impulse waves are very strong so we're looking for a good, strong run up.
Because our analysis shows the low of May 6 as the completion of Wave 2, our invalidation point lies at that price. If it goes below that price, then that would invalidate this forecast. However, if you look at the low of May 6, it shows a long wick down but comes back up and finishes strong, giving us another confirmation on the upward trend.
Good luck to everyone's trading and we'll be seeing everyone shortly.
Take care.
Published on Wed, May 7 2008, 07:34 GMT
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USD/CHF Trade Set Up
Sun, May 4 2008, 05:59 GMT
by Ross Yamashita
Hello everyone.
Our analysis has brought a set up on the hourly charts of the USD/CHF. We are in the 3rd wave of an Impulse wave. 3rd waves of Impulse waves are very strong so we're looking for a good, strong run up.
Because our analysis shows the low of May 6 as the completion of Wave 2, our invalidation point lies at that price. If it goes below that price, then that would invalidate this forecast. However, if you look at the low of May 6, it shows a long wick down but comes back up and finishes strong, giving us another confirmation on the upward trend.
Good luck to everyone's trading and we'll be seeing everyone shortly.
Take care.
Published on Sun, May 4 2008, 05:59 GMT
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CHF/JPY Wave Count and Trade
Tue, Apr 29 2008, 02:16 GMT
by Ross Yamashita
Hello.
Happy Tuesday! We hope everyone had a relaxing and peaceful weekend.
We have a 3rd wave of a ZZ forming on the CHF/JPY hourly chart. As you know, we like trading the 3rd wave of a ZZ. We also re-analyzed this and it can also be interpreted as the 3rd wave of an Impulse, which is the other wave we love to trade.
So, being that our analysis is showing this as both the 3rd wave of a ZZ and Impulse, there is a good probability for this trade to go down.
If it goes above the high of 4/28/08 (101.35), then that will invalidate this forecast. This looks as is if this is the first wave of the Wave 3 so a possible wave 2 retracement may occur before heading back down.
Good luck and remember to always use your money management and stops while trading.
Published on Tue, Apr 29 2008, 02:16 GMT
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EUR/CAD Wave Count
Thu, Apr 24 2008, 07:50 GMT
by Ross Yamashita
Hello.
We are looking at the 3rd wave of an Impulse in the EUR/CAD. We completed Wave 2 of the larger degree with the low on 4/18/08. We saw a good 1st wave movement up to complete the first wave on 4/23/08.
Look for the pair to come down to complete Wave 2 and head up in a bullish Wave 3 movement.
This is one where you'll want to wait for the market to retrace down to complete the Wave 2. We suggest you do NOT trade the Wave 2 down as it is a retracement wave.
We will monitor the pair and give projected entry points in a future update.
On a personal note, I would like to take a moment to pay tribute to Josiah Gross, a fellow trader who passed away last week after losing his fight with cancer. I would like to express our condolences to his family during this tough time. Josiah was truly a great person and will be missed.
Josiah's passing reinforces that after the trading day, be sure to take some time off and spend it with your loved ones.
Published on Thu, Apr 24 2008, 07:50 GMT
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DKK Wave Analysis and Trade
Tue, Apr 22 2008, 02:46 GMT
by Ross Yamashita
Hello.
Our analysis has picked up the USD/DKK (Danish Kroner). We are looking at a short term Impulse Wave 3 down. We like trading Wave 3 of Impulse waves as they have strong directional movement.
Good luck and we'll see everyone again shortly.
Published on Tue, Apr 22 2008, 02:46 GMT
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NZD/JPY Analysis
Thu, Apr 17 2008, 08:39 GMT
by Ross Yamashita
Hello everyone.
Our analysis brings us to the NZD/JPY. We didn't add the trend lines in, but there are some good trend lines that can implemented on the hourly chart.
Here is what we're looking at:
The major trend is up, however, it may come back down before heading up. We're just going to sit and watch this one as it develops. Our Entry 2 - 79.63 is a really conservative long entry. Another potential entry point going long is 79.92. At this point (of course, after watching how it plays out, this could change) we would put our stop below the April 15, 2008 low of 79.07. So, if you take our conservative entry, you're looking at a 56+ pip stop loss.
This is where you must apply your money management and decide if this trade makes sense for you, taking into consideration Risk vs. Reward. The overall invalidation point (the price that would make this forecast invalid) is the low from March 31 of 77.90.
Good luck and watch for updates as this trade progresses.
Published on Thu, Apr 17 2008, 08:39 GMT
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Pro Pipper Trading :: GBP/CAD Trade
Sun, Apr 13 2008, 21:23 GMT
by Ross Yamashita
Hello.
Today is April 15, 2008 and we hate to remind everyone but taxes are due for residents of the United States.
We have a good set up in the GBP/CAD forming. The general trend is down. Look for it to eventually hit into the 1.9500 area.
If it goes above the high of April 14 (2.0350) then that will invalidate this forecast.
Our analysis is showing a short entry price of 2.0191. Be sure to consider your Risk vs. Reward ratio when entering a trade and always practice good money management.
We hope everyone has a great trading day and we'll see everyone again shortly.
Published on Sun, Apr 13 2008, 21:23 GMT
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Pro Pipper Trading > GBP/USD Analysis
Tue, Apr 8 2008, 07:14 GMT
by Ross Yamashita
We are currently analyzing the markets and will update our forecast shortly. Thank you.
Hello.
We hope everyone had a great weekend.
Before we get to today's analysis, we wanted to go back to last Friday for the NFP. We gave everyone 4 entry points to go long. The first one we gave was triggered (by 5 pips) and it never looked back from there. If you are currently long the EUR/USD, be sure to use protective stops. If you haven't already, lock in some profits.
Today we look at the GBP/USD - another favorite for many. We're looking at short term trade here. We're in the 3rd wave of an Impulse Wave down. There are 2 ways to count the current 3rd wave, which is the major criticism of Elliott Wave theory and analysis. Look for an overall trend down. What we would suggest is to sit tight for now until something develops. You must control your urges to trade and let the trade come to you.
Another factor that can help us determine market direction is watching the other majors and see if they are similar to our forecast.
Good luck and be sure to use stops whenever you trade.
Published on Tue, Apr 8 2008, 07:14 GMT
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NFP − EUR/USD Trade Set Up
Fri, Apr 4 2008, 08:59 GMT
by Ross Yamashita
Hello.
Here is our NFP update on the EUR/USD. We are in a 3rd Wave of a Zig Zag movement upward. Because this is during the NFP, you must proceed with absolute caution.
During the NFP, we like to play it safe and this EUR/USD trade is a great scenario for us. We know that if it goes well below the low of April 3 (1.5508) that it will invalidate our forecast. We have four levels we're looking at for potential buy trades.
Entry 1 - 1.5630
Entry 2 - 1.5608
Entry 3 - 1.5584
Entry 4 - 1.5538
Again, we like to play it safe so we'll set a buy order to enter us into the market if it hits the 1.5538 level with a stop just under the April 3 low of 1.5508 (30+ pips). Again, this is pretty conservative given where we are currently at in the market (current price is 1.5705), however, we have given other potential entry points as well. The beauty about this is that we are risking a 30 pip loss to get a potential 200-300 pip movement up.
If it goes below the April 3 low then we will re-analyze the chart.
Good luck and no matter what you trade during the NFP, remember to use your stops and do all your analysis and homework well before the announcement.
Published on Fri, Apr 4 2008, 08:59 GMT
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EUR/JPY Trade
Tue, Apr 1 2008, 07:48 GMT
by Ross Yamashita
Greetings.
Our analysis takes us to the EUR/JPY on a hourly chart. The major overall trend is down but we are looking at completing a shorter term 2nd wave of a Flat to the March 28, 2008 high of 158.33. After it nears that point, look for a short entry. We do not suggest trading against the overall trend, even if it looks like an easy 200 pips. These pairs move quickly and can margin you out just as quickly. This is where you need to learn patience and demonstrate discipline.
We are back from yet another weekend and we hope everyone had a restful weekend. We are already into April and the year is going by quickly. Remember to save time for yourself to relax and unwind so time doesn't pass you by. The market will always be there and trades will always present themselves to you.
Good luck.
Published on Tue, Apr 1 2008, 07:48 GMT
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GBP/CHF Trade
Fri, Mar 28 2008, 08:56 GMT
by Ross Yamashita
Hello.
We are looking at the GBP/CHF. The overall trend is forming a good wave down, however, our shorter term analysis shows that a shorter term retracement is in order before heading back down.
Look for the pair to go up and then head back down. Fibonacci analysis will help guide you on how far up the pair will go to enter in short. We will conduct our detailed Fibonacci analysis to try and pinpoint the entry price.
Good luck and have a great weekend.
Published on Fri, Mar 28 2008, 08:56 GMT
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USD/SEK Trade Analysis
Mon, Mar 24 2008, 00:47 GMT
by Ross Yamashita
We are currently monitoring several charts and will update everyone with a forecast soon. Thank you.
Hello.
We hope everyone had a happy and safe Easter weekend.
Although not a widely traded pair, the USD/SEK (Swedish Kronor) is showing a good Ending Diagonal formation. Fact is, it doesn't really matter if this isn't considered a major pairing - our goal as traders is to make PIPs. When you make PIPs, the money will follow.
We see that we completed a Wave 3 (low) and am heading up for a Wave 4. Look for it to come close to the trend line drawn in. From there, look for it to retrace. The 5th wave of ED's don't always retrace back to the line. A lot of times, they will retrace only halfway before breaking out of the ED.
We will continue to monitor this and send an update out if needed.
Good luck and we'll see you again this week.
Published on Mon, Mar 24 2008, 00:47 GMT
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USD/MXN Trade
Thu, Mar 20 2008, 08:23 GMT
by Ross Yamashita
Hello.
We are forming the 4th wave of an Ending Diagonal. Look for the short term be bullish (completing Wave 4), go down to a Wave 5 and then break the trend line strongly going up.
The shorter term charts also show a Wave 2 flat moving up, giving us more confirmation of the movement.
Ending diagonals is another wave we like to trade.
Good luck with this trade we'll see everyone again shortly.
If there is no update tomorrow, we would like to wish everyone a happy and safe Easter weekend.
As traders, it's tough to take a break for fear we may miss that perfect opportunity. Although this may have its arguments, you must also remember to take a break and get your mind off trading. Trading is very stress intensive and it is not good to keep this going month after month.
Take care and we'll see everyone again soon.
Published on Thu, Mar 20 2008, 08:23 GMT
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Outlook on USD/CAD
Mon, Mar 17 2008, 06:12 GMT
by Ross Yamashita
Hello again.
We are providing an analysis for the USD/CAD.
Our analysis shows some good wave structure in various time frames to indicate there is a good possibility for a strong move up.
Depending on which time frame you're looking at, you are in a Wave 3 of a Zig Zag on your daily charts and in Wave 2 of a Flat on your hourly. We like Wave 2 of flats as well because they indicate that Wave 2 will hit near the start of Wave 1. As you can see, we have quite some movement to go.
Also, trend lines indicate a contracting triangle.
Now that the pair has broken above the top trend line, it will now act as support, thus, the pair may come back down to the trend line before heading up.
Good luck.
Published on Mon, Mar 17 2008, 06:12 GMT
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AUD/USD Wave 3 Short Trade
Tue, Mar 11 2008, 07:13 GMT
by Ross Yamashita
Greetings.
We hope everyone had a restful weekend after the NFP last Friday.
As posted on our websie, the AUD/USD had formed a triangle at the top showing a sell trade. Now that it has broken that trend line, what next?
As you can see, we added a trend line showing you a potential point where the currency could go back up to. However, the overall trend is down. Look for a nice downward movement.
Also, you can see that we are in a Wave 3 downward movement in an Impulse wave. These are the waves we love to trade because of their strong movement.
Good luck and we'll see everyone shortly.
Published on Tue, Mar 11 2008, 07:13 GMT
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Pro Pipper EUR/GBP Analysis
Wed, Mar 5 2008, 09:30 GMT
by Ross Yamashita
Greetings.
Our analysis takes us to the EUR/GBP. We are posting this right before market opening.
Look for an uptrend to the .7800 area and above. As always, be sure to utilize your protective stops. Also, be sure to monitor any news announcements that may be coming out in the near future.
Good luck and we'll see everyone again shortly.
Published on Wed, Mar 5 2008, 09:30 GMT
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Pro Pipper USD/ZAR Wave 3 Trade
Tue, Feb 26 2008, 07:11 GMT
by Ross Yamashita
Hello. We are currently working on our webinar topics for FX Street. We will update our forecasts on Sunday, March 2, 2008. We hope everyone has a great weekend and leap year Friday!
Greetings.
Here is a currency that we don't talk about everyday. The USD/ZAR (South African Rand) looks to be in a good movement down.
We're looking at the 3rd wave of a Zig Zag (ZZ) correction. Among our love for trading Wave 3's of Impulse waves, we like trading these waves as well.
We completed the 1st wave in November 2007, then up to complete Wave 2 on February 20. We are now heading down to a Wave 3.
Refer to the chart.
Good luck.
Published on Tue, Feb 26 2008, 07:11 GMT
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Pro Pipper EUR/JPY Update
Mon, Feb 18 2008, 06:39 GMT
by Ross Yamashita
Our next forecast will be published on Sunday, February 24, 2008. Have a nice weekend!
Greetings.
We have yet again found an impulse wave in our analysis.
Analyzing the EUR/JPY, we see that we are in the 2nd wave of the Impulse wave. Look for the pair to go up to the 159.40 area and above before heading back down in a Wave 3. As many of you know, that is our absolute favorite wave to trade due to its very impulsive move in a direction.
As we get closer to the high probability area, we will update everyone with our analysis.
We are also watching the USD/JPY. A couple weeks ago we said it would hit a certain area before retracing down. If you want to see that forecast, just go back to our previous forecasts and you will find it there.
Good luck and trading to everyone.
We also want to wish everyone in the United States a happy and safe President's Day today.
Published on Mon, Feb 18 2008, 06:39 GMT
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Pro Pipper USD/CAD Analysis − Wave Completion Close
Thu, Feb 14 2008, 08:42 GMT
by Ross Yamashita
Hello.
This is a chart showing the USD/CAD. This is the short term wave count as we must keep in mind this is a part of a larger wave count.
We are looking to complete the 3rd wave of a 3 wave Double Zig Zag movement. Once the 3rd wave is complete, the currency will reverse. This is the time when you start watching the currency closely for any breakouts or "wicks" in the candles.
Look for it to come down a little further, hit a bottom (completing Wave Y) and then head up.
Going back to our JPY analysis we gave last time, we gave 3 entry points with our analysis. The first one was hit and we'll keep an eye on it to see where it goes from here.
Good luck.
Published on Thu, Feb 14 2008, 08:42 GMT
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ProPipper.com USD/JPY Elliott Wave Count
Sun, Feb 10 2008, 22:41 GMT
by Ross Yamashita
Greetings.
We hope everyone had a restful weekend.
We're posting this right before the opening of the Tokyo markets. Our analysis a few days back showed us that we're in an impulse wave within another impulse wave.
As you recall, we're forming Wave 2 of the smaller impulse wave. Once Wave 2 is completed, then we will start heading down to Wave 3. Wave 3 is our favorite wave to trade because of it movement.
We also provided some potential target points where you can short the pair. Depending on your Risk and money management, you can choose the entry point desired. Remember, use stops to protect your capital.
Once Wave 2 is completed, look for a good movement down.
We've heard all the arguments against Elliott Wave analysis and this is why we incorporate Elliott Wave into our analysis. With Elliott Wave analysis, we can get in front of the big movement, unlike many other technical indicators and moving averages. The problem with those indicators is that by the time you get the confirmation to trade, much of the movement has already passed you. However, keep in mind this is not an exact science, but based on probabilities so be sure to use protective stops.
Good luck.
Published on Sun, Feb 10 2008, 22:41 GMT
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Pro Pipper EUR/CHF Wave Count
Wed, Feb 6 2008, 08:02 GMT
by Ross Yamashita
Hello.
For those of you that watched the Superbowl, what a game it was. I have already been emailed articles on how trading the FX market relates to the Superbowl. Rather interesting.
We have a Double 3 (D3) forming in the EUR/CHF. In the smaller degree wave, we have a Flat (FL) forming. As you can see, it went down to complete Wave A, then back up to just above the starting point (thus why it is called a Flat) to complete point B. Now, we are headed down to a Wave C. I would expect to see a small retracement up from the nice move down from the completion of Wave B.
Good luck and we'll see everyone again soon.
Published on Wed, Feb 6 2008, 08:02 GMT
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ProPipper.com USD/JPY Elliott Wave Count
Sun, Feb 3 2008, 23:17 GMT
by Ross Yamashita
Greetings.
We hope everyone had a nice weekend. For those of us in the United States, we hope you enjoyed the Superbowl. We are posting this before the game has started. Too bad there was no Elliott Wave analysis to forecast the probabilities of the winner. Well, I guess that's why we all love the markets!
We keep talking about Elliott Wave practitioners having their favorite wave to trade. Some like the impulsive Wave 3 and 5 while others like to trade the retracements waves.
Well, we enjoy trading Wave 3 - and we have found a good set up in the USD/JPY. There are actually 3 Elliott Wave Impulse patterns. For chart display purposes, we are only showing 2 out of the 3. As you can see from the graphic, we are looking to compete the Wave 2 to start our Wave 3 down, which will then complete the Wave 3 of the larger degree. In the smaller wave (labeled in red), you still have the completion of Wave 2, the movement down of Wave 3, the retracement of Wave 4 then heading back down again for Wave 5.
Have fun and don't forget to always use good money management and put that stop loss in.
And as far as the Superbowl goes, I guess we'll just have to sit back, relax and let the game play out itself to see who wins.
Published on Sun, Feb 3 2008, 23:17 GMT
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ProPipper.com GBP/JPY Update
Wed, Jan 30 2008, 14:06 GMT
by Ross Yamashita
Hello.
Here is a nice wave count on the GBP/JPY showing a Flat. Look for it to go a little higher to complete Wave B of the flat before heading back down to complete Wave C.
If you're trading the majors, be sure to use caution as we head into two major announcements. We have the Fed announcement later today and NFP on Friday. Be sure to use protective stops if you're currently in profit in a trade.
Good luck.
Published on Wed, Jan 30 2008, 14:06 GMT
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EUR/USD Update
Mon, Jan 28 2008, 06:14 GMT
by Ross Yamashita
Greetings.
This is our short term EUR/USD count. You can see we are in a 2nd wave of a flat, which means it should come very close to the bottom on 1/21/08 to complete the 2nd wave of the flat before going back up.
Good luck.
Published on Mon, Jan 28 2008, 06:14 GMT
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ProPipper.com NZD/USD Update
Thu, Jan 17 2008, 09:02 GMT
by Ross Yamashita
Not much forming in the markets today for strong Elliott Wave Patterns. We'll do a small Elliott Wave pattern that came out of the NZD/USD. Our long term analysis showed the pivot point on 1/15/08. Look for it to go a little higher to the target area of .7750 - .7800.
I'd also like to take this opportunity to wish my son, Kahaku, a very Happy Birthday. He is 2 years old and indeed a trader. Here is a picture of him at the Trader's Expo in Las Vegas in November 2007 in front of the Trade Station booth. He had the honor of being the youngest trader there.
Remember to always use protective stops and analyze your Risk vs. Reward ratio before entering a trade.
Published on Thu, Jan 17 2008, 09:02 GMT
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