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February 27th, 2017 @ 11:49 am by Muhammad Azeem

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NZD/USDTrend is bearish in NZD/USD currency pair, four hour time frame. As I have suggested past week during my daily Live trading room session, market is falling down on a medium term basis to complete a bearish Elliott Wave v leg and traders should look for a sell trade. So, all those Forex traders who have followed the Elliott wave analysis have made the right decision as the price action has descended. Vital resistance area is present at 0.7277 price level.

 

Be sure to check out daily Forex market updates via Live Trading Room. In my opinion, price action in NZD/USD currency pair is most probably going to drop more as bearish Expanded Flat pattern has completed. So, a good idea is to go short to ride and trade the bearish wave v impulse wave pattern.

 

However; if price action of NZD/USD currency pair closes a bullish candlestick above 0.7277 key resistance level then bearish Elliott Wave count will become in-valid. Henceforth, I may jump at the chance to stay out of the market and re-analyze the NZD/USD price action.

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February 10th, 2017 @ 11:14 am by Muhammad Azeem

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2-10-2017 4-11-30 PMTrend is bearish in four hours time frame. Critical resistance level is present at 1.2706 price area. As forecasted, bullish trend has finally changed into a bearish trend. In last few trading hours, price action has showed some signs of buying pressure. In my judgement, price is going to print a Bullish Wave B Zig Zag pattern in a down trend which offers a sell trading chance.

So, wait out of the market and allow the price action to first complete the Bullish Wave B Zig Zag smaller legs and then look for a possible sell trade to ride, up-coming Bearish Wave C leg.

However; a bullish break out in price action above 1.2706 critical resistance level will end the down trend. In such market scenario I might like to quit trading GBP/USD currency pair and redo 4 hours chart analysis.

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October 18th, 2016 @ 6:12 pm by Muhammad Azeem

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EUR-USD-147 pips profitTrend is bearish in EUR/USD currency pair, 4 hour time frame. As I have suggested past week during my daily Live trading room session, market is falling down on a short term basis to complete bearish running triangle pattern which is part of a larger version of a bearish Double Zig Zag Elliott Wave pattern and traders should look for a short trade. So, all those Forex traders who have followed the analysis have made the right decision as the price has descended. I also made +147 pips profit. Strong key resistance level is present at 1.1205 price level.

Be sure to check out daily Forex market updates via Live Trading Room. In my judgement, price action in EUR/USD is now going to drop more towards 1.0950 price level to complete a bearish corrective Elliott wave pattern, in coming trading days.

 

Currently; Bearish Running Triangle Pattern looks complete and price action offers a possible Sell trade setup to join the down trend. However; if price of EUR/USD currency pair breaks above 1.1205 critical resistance level then I might like to stay out of the market and re-examine the four hour chart of EUR/USD currency pair.

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April 25th, 2016 @ 8:39 pm by Muhammad Azeem

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4-26-2016 1-33-49 AMTrend is bullish in 4 hours time frame. Vital support is present at 1.2592 price level. Price has showed some signs of buying pressure, which looks like an Ending Diagonal pattern has completed. Based on Elliott wave analysis, price should start a bullish leg now towards 1.2995 price level and higher.

A good idea is to wait for the price to first move out of converging diagonal trend lines and then go long in USD/CAD currency pair. However; if price drop below 1.2592 support level then I would prefer to stay out of the market and re-analyze the price action in USD/CAD 4 hours chart.

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April 14th, 2016 @ 10:21 pm by Muhammad Azeem

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6Hello traders, this is an update about my USD/CHF long trade. I took a buy trade few days ago in 1 hour chart of USD/CHF currency pair, using Elliott wave principle. Now, I have manage to closed my buy trade with a decent sized 102 pips profit. Target hit and profit booked. I am now out of the market. See my  trading terminal screen shot image which shows my account history.

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April 13th, 2016 @ 7:45 pm by Muhammad Azeem

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4-13-2016 12-57-47 AMI took a buy trade in USD/CHF currency pair, yesterday. My trade was based on Elliott wave analysis. There was a  possible Ending Diagonal present. So, I went long and  market did move in my favour.

As price has moved in my favour, I have locked in +38 pips profit and I am waiting for the market to reach my take profit level at 0.9678 area. To me; it is now a free trade as I have raised my stop loss
and now using a protective trailing stop. For my buy trade status, entry order, trailing stop and take
profit level,see the attached screen shot of my trading terminal.

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April 12th, 2016 @ 8:08 pm by Muhammad Azeem

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4-13-2016 12-57-47 AMHello traders,
This is an update about USD/CHF 1 hour chart.

In my judgement, there is a possible buy trade setup present in 1 hour chart of USD/CHF currency pair. In terms of Elliott wave analysis, it is known as Ending Diagonal. So, I went long today and hopefully, price is going to move in my favour. I have placed a stop loss and take profit level.

Please note, always trade with a stop loss If you are not using stop loss in your trading then you are just asking trouble in your trading carrier. For my buy entry order, stop loss and take profit level, see the screen shot image of my trading terminal.

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October 22nd, 2015 @ 11:59 pm by Muhammad Azeem

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usd-cad-4HhTrend is now bullish in USD/CAD four hours time frame. Vital support is present at 1.2830 area. Based on Elliott wave analysis, we have a medium term bottom is in place in USD/CAD currency pair. In my judgment, market is now going to rise up more from current price levels towards 1.3470 area.

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