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GBPUSD / AUDUSD / EURGBP / EURUSD

Fri, Nov 20 2009, 09:56 GMT
by Ian Coleman

Turtle Futures


‘They are not door numbers!’……….a quite well known phrase in the FX market. A view one morning may well not be the view 5 hrs later. It all depends on the price reaction. You need to be aware of what unfolds around you. That’s why I believe that any system that you only have to look at charts for 15 minutes a day is never going to work. If you have full time traders, who have to work hard at making money (14+hr days), how can expect to reap rewards from 15 minutes.

Ok Happy Friday to you.

GBPUSD

We had a move down in five waves then a small correction. We sold the break lower at 1.6600. This may be a possible flag. What we do know is that the trend is strong with the DMI at 22 (at the moment). 16515 will be the first target. If we break here we have our main MA at 16885, then the flag target at 16415.

GBPUSD

AUDUSD

Just about to hit our trigger at 9148. This would be a 5th wave. All indictors are confirming. We may get to 8957, as commodity pairs will normally run to 261.8% and possibly beyond.

AUDUSD

EURGBP

Three different options this morning with the same result. We had a reverse Head and Shoulders formation. We have a possible ABC taking us to 9020, or, we have wave 3 in a 5 wave sequence (9022). We bought at 8966, looking for 9016 area as the target.

EURGBP

EURUSD

Expecting an impulsive move down to 14752 area in a third wave sequence, breaking through the main Daily wedge and starting our EURUSD decline. I am looking for a fulltime position as a technical analyst. Please email if you would like to discuss the matter in detail.

Have a great weekend

EURUSD


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Turtle Futures  | One Moulsham Street. Chelmsford - Essex CM2 0HR
http://www.turtlefutures.com | ian@turtlefutures.com

Legal disclaimer and risk disclosure

This technical analysis report has just an informative meaning and cannot be treated as the guide to action or an offer to carry out certain trading operation. The publication is not an offer or solicitation of any offers to purchase or sell any securities, currency or financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. The author and publisher of this report shall not be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential or other damages. As each individual situation is unique, questions relevant to personal finances and specific to the individual should be addressed to an appropriate professional to ensure that the situation has been carefully and appropriately evaluated. Any advice is general and does not take into account your objectives, financial situation and needs. You should always consider whether it is appropriate for You. Turtle Futures or staff may perform business services, hold, establish, change or cease to hold positions in any securities, currency or financial instrument mentioned in this publication.

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