Technical Analysis and a few charts to ponder
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Thread: Technical Analysis and a few charts to ponder

  1. #1

    Technical Analysis and a few charts to ponder

    I'm offering these charts and dialogue with the goal of sharing tech in order to specify the trading range, trend or possible reversals.

    If you are not a technical analysis guy, this isn't for you. Please save us all opinions on fairly or not technical analysis works .

    From the spirit of concentrated conversation I would like this thread to focus on Price with trend lines, wave points, patterns and maybe some gann. I would love to stay away from the plethora of systems and indiors. There are loads of other threads for those.

    If you trade this way show us everything you got. Welcome, if you just want to learn this kind of technician.

    We can help each other see the Opportunities in the charts.

    The euro:

  2. #2
    Though the GBP/USD move was limited from the new Yen strenght on Friday, '' I visit the next upside resistance to the GBP/USD function as the 1.9750 region. I reveal little support at 1.9600 using 1.9550 only below.

  3. #3
    Now the current 4hr view showing the completed 5th tide of the bear channel from this 1.3680 retest of the 04 year finish high:

  4. #4
    After taking a look at the preceding 3 charts, here's what I see:

    1. We just examined the December 04 high of 1.3680.

    2. We completed this test following a 5 count wave that was perfect.

    3. Since the retest collapse of 1.3680 we have completed a textbook smaller 5 wave channel retrace to the 3/8's retrace of larger 5th wave from 128.50 which ideal coincides with the 1.3350 top of the 3rd wave completed on December 4th 2006.

    So here we are, major up wave - finish. And, standard retrace - finish. Wave apart. We're still in a picture Euro uptrend.

    The dual top upon a completed wave is a very enticing play for USD bulls who see any severe counter tendency prifit potential.

    Now that all these waves are completed, I expect further hints.

    On the daily chart we can certainly think about the 5/8's retrace to 1.3180 very possible. If the Euro/USD breaks over 1.3550 on the upside I anticipate a thriving assualt on the 1.3680 dual shirt.


  5. #5
    The pound breakout is much weaker than another dollar crosses today. The daily range king normally dominates these breakouts but has been restricted thus much 1.9640 while the Eur/Usd, Usd/Chf Usd/jpy have maintained trucking. This is certainly because of the strengthening yen and all the places from the Gbp/Jpy that has been at a range for two days. I am currently holding my pound in the belief that the the dollar weakness prressure will take the pair to the 1.9670/80 area today.

  6. #6
    Lately, concerning the worst pair to trade has become the GBP/USD.
    The combination of yen asset and dollar weakness has left the pound at a range funk. All this was driven by the reverse effect of the USD weakness and the GBP/JPY. I have been focused on the USD/CHF and the EUR/USD. The USD/JPY was good as much as dollar crosses go. Last but not least the GBP/JPY was a goldmine for people that are short.
    I will be looking for some clarity at the carry trader sentiment prior to returning to trading the GBP/USD.

  7. #7
    We will the complete scaled carry trade unwind panic is in full swing. Where's the bottom the question of the day and possibly the quarter is already.

    Here's a peek at the current 4hr pound chart as well as the assualt of this Jan, 5th Low

  8. #8
    Here's a peek at a few of my Usd/Jpy targets.
    First being 115.00 with 112.00 below.
    I'll be looking for a solid reaction upon a touch of 115.00

  9. #9
    This is my old daily chart on the Gbp/Jpy.
    Because you can see we blew out the cover of the bull station in December and everyone in both hemispheres was long. The break of this 230.00 trendline and the fall back in the trading station alongside a whole new public consciousness gave us this fun little anxiety sell. Soo many of us have been saying this had to occur but only a few were would be to short this monster until it became evident. Once it did eventually become evident, everyone wanted to be short and the longs ran for cover.

    So, where's the bottom? The carry trade honey pot fans will soon be back as it loes that a stable price level. No one but the steely eyed quick activate short term traders are going to want to be first in. However the moment the yen finds its joyful place, It should be a nice long

    Currently we've paused at the late november lows but I dont see that it stopping just yet. I would not be surprised to watch as low as the 210 area. But because the ascent was so powerful we dont have alot of old numbers and consolodation places to play off of. Within this type of instance I would expect to see technician. I personally will be looking to the Usd/Jpy and Gbp/Usd pairs and their corrospending charts for technical clues.

  10. #10
    It has been awhile since I've added any charts but this one is a text novel elliot count within a channel. Time to buy?

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