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July 24, 2008 - GBP/USD Daily ChartThursday, July 24, 2008
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http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/July242008GBPUSDDailyChart_8801/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; uptrend lines in green; horizontal support/resistance line in yellow; 50-period simple moving average in light blue.)
7/24/2008 –GBP/USD – As of this writing, price action on the GBP/USD daily chart, as shown, has just reached down and touched the bottom support line of a short-term parallel uptrend channel (in green). Currently, price has stalled and consolidated near this support level. It should be noted that this uptrend channel is very steep, and therefore may likely be broken to the downside at some point in the near future. Whether that occurs on this swing or a future downswing is the question. There has also been very clear bearish price-oscillator divergence on the prior two swing highs. In the event of a true impending breakdown of this uptrend channel, major support to the downside resides around the 1.9650 region. Below this level, further support resides around the long-term downtrend line (in red) that extends from the multi-decade highs. A clear bounce off the current uptrend support line, on the other hand, should target resistance once again near the top of the parallel trend channel.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Click here for more information.
Posted by TM Communications in Chart of the Day at 09:40
July 23, 2008 - USD/CHF Daily ChartWednesday, July 23, 2008
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http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/July232008USDCHFDailyChart_8A39/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend lines in red; Fibonacci retracements in grey; 50-period simple moving average in light blue.)
7/23/2008 –USD/CHF – Price action on the USD/CHF daily chart, as shown, has once again reached the top resistance line within the parallel downtrend channel that the pair has been entrenched in since late April. The touch of this resistance line follows very impressive gains made yesterday and this morning. After the swift run-up, has price momentum begun to wane at resistance? That may indeed be the case, but for now, the daily chart is not yet giving any significant overbought signals. Therefore, a true break above resistance could well be a possibility near-term. If this turns out to be the case, the next major resistance above the break resides around the 1.0490 region. On the other hand, if price indeed loses its upward momentum and encounters selling pressure at or near downtrend resistance, the 1.0250 region, which coincides with a key 38.2% Fibonacci retracement level, should act as significant support to the downside.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Click here for more information.
Posted by TM Communications in Chart of the Day at 09:49
July 22, 2008 - EUR/CHF Daily ChartTuesday, July 22, 2008
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http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/July222008EURCHFDailyChart_8479/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; downtrend line in red; 50-period simple moving average in light blue.)
7/22/2008 –EUR/CHF – Much like several other crosses, EUR/CHF (the daily chart of which is shown) has just reached and temporarily stalled around significant resistance. In the case of this key cross, resistance is in the form of a downtrend line going back to October 2007, where the long-term, multi-year highs were reached in the pair. The current touch of resistance occurs after a bounce up off a key 38.2% Fibonacci retracement level (the low-to-high retracement span being measured from the low extreme reached on 3/17/2008 to the swing high touch of downtrend resistance on 5/19/2008). Oscillators like the displayed Stochastics have entered overbought. Respect of resistance at this point should target a move back down ultimately to around the 1.6000 support region. A true breakout to the upside with momentum, on the other hand, should meet first resistance around the 1.6300 region.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Click here for more information.
Posted by TM Communications in Chart of the Day at 09:25
July 21, 2008 - GBP/JPY Daily ChartMonday, July 21, 2008
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http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/July212008GBPJPYDailyChart_8714/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; horizontal support/resistance line in yellow; 200-period simple moving average in light blue.)
7/21/2008 –GBP/JPY – Price action on the GBP/JPY daily chart, as shown, has once again bumped right up against a very significant resistance line in the 213.80-214.00 region. This line has been hit at least 5 times since the beginning of the year, and thus represents strong selling pressure at this level. Any true break to the upside, therefore, would be a significant event that should target additional resistance in the 217.00 region. From purely a technical perspective, however, there is a slight bias towards an impending turn back down at or near this robust resistance level. Oscillators like the displayed Stochastics, which are deep in overbought territory and starting to turn, are also lending some strength to this view. If this turn indeed occurs, clear major support to the downside resides around the green uptrend line from which price bounced just last week.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Click here for more information.
Posted by TM Communications in Chart of the Day at 09:55
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July 18, 2008 - USD/JPY 4-Hour ChartFriday, July 18, 2008
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http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/July182008USDJPY4HourChart_85FE/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; downtrend lines in red; 200-period simple moving average in light blue.)
7/18/2008 –USD/JPY – Price action on the USD/JPY 4-hour chart, as shown, has just hit significant resistance near the top of a short-term parallel downtrend channel (in red). This approach of resistance occurs after an impressive run-up from a key 38.2% Fibonacci retracement support level. Confirming a possible waning of upward momentum near resistance are oscillators like the displayed Stochastics, which are on the border of emerging down from overbought. In the event of a continued bounce down off resistance, the next support to the downside resides around the 105.50 region. Any true breakout above this resistance, on the other hand, would meet major additional resistance around the 108.50 region.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Click here for more information.
Posted by TM Communications in Chart of the Day at 09:31
July 17, 2008 - EUR/GBP Daily ChartThursday, July 17, 2008
http://tellafriend.socialtwist.com/wizard/images/tafdropdn_green24.png
7/17/2008 – EUR/GBP Daily Chart.gif]http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/July172008EURGBPDailyChart_7CB5/clip_image002%5B5%5D_thumb.gif (Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; 50-period simple moving average in light blue.)
7/17/2008 –EUR/GBP – Price action on the EUR/GBP daily chart, as shown, has reached a critical support juncture. This support is significant, and is represented on the chart by the green uptrend line. As of this writing, price has stalled around this level. Therefore, any true breakdown of this line could represent a significant potential breakout trading opportunity. Oscillators are showing that this pair is not yet oversold, so a breakdown could carry additional downside momentum. In the event of a breakdown, further support to the downside resides first in the 1.7850 region. A bounce at the current uptrend support line, on the other hand, would target the next major resistance in the 0.8020-0.8030 region.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Click here for more information.
Posted by TM Communications in Chart of the Day at 08:52
July 16, 2008 - EUR/USD Chart of the DayWednesday, July 16, 2008
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7/16/2008 - EUR/USD Daily Charthttp://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/7162008EURUSDDailyChart_AF1A/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; horizontal support/resistance line in yellow; 200-period simple moving average in light blue.)
7/16/2008 –EUR/USD – After reaching and slightly exceeding the all-time high resistance yesterday, price action on the EUR/USD daily chart, as shown, has made a tentative correction back down.
All technical indications were pointing towards this long-awaited correction. And from purely a technical perspective, there appears that there may be some further room to retrace.
Price has not yet reached the short-term uptrend support line (represented by the top green line), which also coincides with a key 38.2% Fibonacci retracement level (the low-to-high retracement being measured from the swing low to support on 6/13/2008 to the all-time high reached just yesterday). Oscillators like the displayed Stochastics are also emerging down from overbought territory.
In the event of this continued downward retracement, the first level of support would clearly reside around the aforementioned uptrend support line, which, as mentioned, currently coincides with the 38.2% Fibonacci retracement level.
In the event of a breakdown of this support, the next support area resides around the 1.5600 region.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: forex,forex charts,currency trading,forex trading
Posted by TM Communications in Chart of the Day at 12:15 | Comments (0) | Trackbacks (0)
July 15, 2008 - GBP/USD Chart of the DayTuesday, July 15, 2008
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7/15/2008 – GBP/USD Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/1c81deb1ff97_8A0B/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; downtrend lines in red; horizontal support/resistance line in yellow; 200-period simple moving average in light blue.)
7/15/2008 –GBP/USD – After a relatively dramatic move up on Tuesday morning, price on the GBP/USD (the daily chart of which is shown) hit and promptly retreated from the top resistance line of a short-term uptrend channel.
This channel is represented by the short parallel green lines. Though this resistance is much less significant than the resistance imposed by the all-time high that was reached by the EUR/USD pair on the same morning, GBP/USD is also showing technical signs of having possibly hit a momentum barrier, at least for the time being.
From a technical perspective, a short-term correction is due. In the event that this occurs, the logical first support target to the downside would reside at or near the bottom of the uptrend channel.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 09:50 | Comments (0) | Trackbacks (0)
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July 14, 2008 - USD/CAD Chart of the DayMonday, July 14, 2008
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7/14/2008 – USD/CAD Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/b49f87498077_C523/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; downtrend line in red; horizontal support/resistance lines in yellow; 200-period simple moving average in light blue.)
7/14/2008 –USD/CAD – Price action on the USD/CAD (the daily chart of which is shown) has been mired in a sideways consolidation for many months now. Within the context of this sideways consolidation, there has recently begun a further diminishing of volatility, bounded by the long-term downtrend line (in red) and the medium-term uptrend line (in green).
This diminishing volatility hints at an impending breakout to either side. At this time, with price hugging support and a long-term downtrend in place, the bias is towards a break to the downside. In the event of a clean breakdown, major support to the downside resides around the bottom of the sideways consolidation, in the 0.9750 region.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 14:05 | Comments (0) | Trackbacks (0)
July 11, 2008 - EUR/GBP Chart of the DayFriday, July 11, 2008
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7/11/2008 – EUR/GBP Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/45df686fe91a_9EE0/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; downtrend line in red; 50-period simple moving average in light blue.)
7/11/2008 –EUR/GBP – As noted on a previous Chart of the Day just a couple of days ago, the EUR/GBP (a daily chart of which is shown), had formed a large symmetrical triangle formation, much like the EUR/JPY had.
Unlike EUR/JPY, however, price on the EUR/GBP has not yet broken out of its triangle. This may soon change. Today’s bar, as shown, is right up against resistance at the top of the triangle. A clean break would represent a triangle continuation of the previous uptrend, and would target the first level of resistance around the multi-year highs in the region of 0.8095.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 11:27 | Comments (0) | Trackbacks (0)
July 10, 2008 - EUR/JPY Chart of the DayThursday, July 10, 2008
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7/10/2008 – EUR/JPY 4-Hour Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/July102008EURJPYChartoftheDay_B434/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; downtrend line in red; 200-period simple moving average in light blue.)
7/10/2008 –EUR/JPY – Price action on the EUR/JPY 4-Hour chart, as shown, has formed a clear symmetrical triangle. Price has been steadily approaching the apex of this triangle over the past couple of weeks as its volatility has progressively diminished.
Considering that this pair has recently been entrenched in a marked uptrend, as well as the fact that triangle consolidations are most often considered continuation patterns, technical traders are waiting for any clean breakout above the top boundary of the triangle.
In this event, the next obvious resistance level to the upside resides around 169.45, which represents the long-term high for the pair.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 12:50 | Comment (1) | Trackbacks (0)
July 9, 2008 - USD/JPY Chart of the DayWednesday, July 9, 2008
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7/09/2008 – USD/JPY Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/July92008USDJPYChartoftheDay_95B0/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; downtrend line in red; horizontal support/resistance lines in yellow; 200-period simple moving average in light blue.)
7/09/2008 –USD/JPY – Price action on the USD/JPY daily chart, as shown, has been consolidating around some key levels in the past couple of weeks. After hitting strong resistance around 108.50 (the top yellow line), price bounced down to break a key uptrend support line (in green).
After doing so, the pair reached further down to bounce up off a long-term downtrend support line (in red) that originally acted as resistance before breakout in early June. After this bounce, price rose and has been adhering to the underside of the short-term uptrend line (in green) for several days now. A false, or premature, break a couple of days ago showed some initial promise of a bullish run targeting 108.50 once again.
But so far, a true break has not yet occurred. Technicals are still hinting at a bullish bias, which could soon mean a break of the uptrend line and a move back up towards the 108.50 resistance and possibly beyond. Any short-term drop, on the other hand, would meet a strong support obstacle in the long-term downtrend line (in red).
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 10:39 | Comments (0) | Trackbacks (0)
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July 8, 2008 - EUR/GBP Chart of the DayTuesday, July 8, 2008
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7/08/2008 – EUR/GBP Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/8f59306dc13a_A1F6/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; chart pattern in yellow; 50-period simple moving average in light blue.)
7/08/2008 –EUR/GBP – Price action on the EUR/GBP daily chart, as shown, has been consolidating in a well-defined symmetrical triangle formation for at least three months now. This consolidation has been marked by progressively diminishing volatility, and follows closely on the heels of an impressive uptrend run that began in September of last year.
Some may consider the current triangle a flag formation, although flags and pennants usually show up as smaller chart patterns than what we are seeing now. In any case, this consolidation may be hinting at a possible continuation of the uptrend, as both flags and triangles are often considered continuation patterns.
Therefore, any clean break above the top triangle boundary could represent a potential breakout trading opportunity, targeting the closest major resistance around the long-term high in the 0.8100 region.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 11:33
July 7, 2008 - GBP/USD Chart of the DayMonday, July 7, 2008
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7/07/2008 – GBP/USD Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/45d09737e4ba_A49E/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; downtrend lines in red; horizontal support/resistance line in yellow; Fibonacci retracements in grey; 200-period simple moving average in light blue.)
7/07/2008 –GBP/USD – Price on the GBP/USD daily chart, as shown, has reached back down and touched the downtrend line that it broke out above in late June.
This level is significant not only because it represents a relatively strong dynamic support/resistance line, but also because the level that price has reached as of this morning represents a key 61.8% Fibonacci retracement level (the low-to-high retracement span being measured from the swing low on 6/13/2008 to the latest high on 7/1/2008).
Whether or not this level holds at this juncture is the big question. Because of the strength of support imposed by both the downtrend line and the Fibonacci retracement level, there is a slight bias towards a bounce at or near this level, in which case the obvious resistance to the upside resides around the 2.0000 level.
Any clean breakdown, on the other hand, would target strong previous support around 1.9350.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 11:44 | Comments (0) | Trackbacks (0)
July 3, 2008 - EUR/USD Chart of the DayThursday, July 3, 2008
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7/03/2008 – EUR/USD Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/July32008EURUSDChartoftheDay_6D80/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; horizontal support/resistance lines in yellow; 200-period simple moving average in light blue.)
7/03/2008 –EUR/USD – Price action on the EUR/USD daily chart, as shown, took a major turn down today as a result of the Non-Farm Payrolls report in the morning. This downturn occurs at a significant technical resistance level around 1.5900, which is represented on the chart by the horizontal support/resistance line marked “A”.
This line resides just around 100 pips below the all-time high in the pair. Price has been technically overbought for this whole week (as shown by oscillators like the displayed Stochastics) so the current turn down at resistance is a long-awaited, welcomed event for technical traders and analysts.
In the event of a continuation of this down move, the first support to the downside resides around the 1.5650 region, and then further down at the intermediate uptrend line (in green).
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 07:50 | Comments (0) | Trackbacks (0)
July 2, 2008 - GBP/JPY Chart of the DayWednesday, July 2, 2008
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7/02/2008 – GBP/JPY Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/0893c04f48b9_9B25/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; horizontal support/resistance line in yellow; Fibonacci retracements in grey; 50-period simple moving average in light blue.)
7/02/2008 –GBP/JPY – Late last week, price just bounced down off of an extremely significant horizontal support/resistance level on the GBP/JPY daily chart, as shown. This horizontal level, around the 214.00 price region, is represented on the chart by the long yellow line.
The line has been respected many times in the past, mostly as resistance, and therefore poses a strong barrier to the upside. A continued move off this resistance would target uptrend support (represented by the green line), which currently represents a price around the 207.00 region.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 11:04 | Comments (0) | Trackbacks (0)
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July 1, 2008 - AUD/USD Chart of the DayTuesday, July 1, 2008
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7/01/2008 – AUD/USD Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/828bb8231eed_ACE6/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; horizontal support/resistance line in yellow; 200-period simple moving average in light blue.)
7/01/2008 –AUD/USD – After rising in a rather steady long-term uptrend for years, AUD/USD (the daily chart of which is shown), has hit what amounts to a triple top formation. This resistance level is in the 0.9645-0.9665 price region, and is represented on the chart by the short yellow horizontal line.
Oscillators like the displayed Stochastics are confirming this bearish turn, as they are emerging unmistakably down from overbought. Furthermore, this oscillator confirmation occurs during a currently ranging situation, where oscillators purportedly provide their best indications.
In the event that this downward continuation after the turn at resistance occurs, the next major support to the downside resides around the key uptrend support line, represented on the chart by the lower green line.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 12:20 | Comments (0) | Trackbacks (0)
June 30, 2008 - EUR/USD Chart of the DayMonday, June 30, 2008
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6/30/2008 – EUR/USD 4-Hour Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/June302008EURUSDChartoftheDay_9A2A/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; uptrend line in green; horizontal support/resistance lines in yellow; 200-period simple moving average in light blue.)
6/30/2008 –EUR/USD – After the impressive rally that occurred during the latter part of last week, price on the EUR/USD 4-hour chart, as shown, has just bumped up against and bounced down off of a significant resistance zone in the 1.5820-1.5840 region (represented on the chart by the top yellow line).
This bounce off resistance occurs within the context of a trading range consolidation that has prevailed in this pair for almost four months now. Lending strength to a possible downturn and impending bearish bias at or near this horizontal resistance are oscillators like the displayed Stochastics, which are emerging unmistakably down from extremely overbought.
In the event of continued momentum down, major support to the downside resides in the region of the last significant horizontal support level, around 1.5460 (represented on the chart by the second yellow line).
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 10:58 | Comments (0) | Trackbacks (0)
June 27, 2008 - USD/JPY Chart of the DayFriday, June 27, 2008
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6/27/2008 – USD/JPY Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/7e941c52789b_9C03/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; uptrend line in green; horizontal support/resistance line in yellow; Fibonacci retracements in white; 200-period simple moving average in light blue.)
6/27/2008 –USD/JPY – Price on the USD/JPY daily chart, as shown, has just touched a key short-term uptrend support line (represented on the chart in green). This uptrend line has provided support for the pair since mid-March.
A clean breakdown of this line would target further support at the long-term downtrend line (in red), which acted as downtrend resistance for about a year before being broken to the upside earlier this month.
If, however, USD/JPY has enough resilience to make a clear bounce up off the current uptrend support line in the next few days, price should target clear resistance in the 108.50 region, a significant previous support/resistance level.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 11:10 | Comments (0) | Trackbacks (0)
June 26, 2008 - GBP/USD Chart of the DayThursday, June 26, 2008
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6/26/2008 – GBP/USD Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/fc23b97c5906_B3DE/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend lines in red; uptrend line in green; horizontal support/resistance line in yellow; 200-period simple moving average in light blue.)
6/26/2008 –GBP/USD – After the FOMC announcement yesterday and the London market open today, price made a serious breakout of the long-term downtrend resistance line as shown on the accompanying GBP/USD daily chart.
This was a clean breakout that just reached the level of the 200-period simple moving average as of this writing, breaking through an additional key resistance level (around 1.9850) in the process. The broken downtrend resistance line is now considered a major dynamic support level to the downside.
To the upside, any continued momentum from the breakout should target further major resistance in the 2.0100 region, although oscillators like the displayed Stochastics are showing well-overbought.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 14:37
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June 25, 2008 - USD/CHF Chart of the DayWednesday, June 25, 2008
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6/25/2008 – USD/CHF Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/June252008USDCHFChartoftheDay_7F3B/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend lines in red; 50-period simple moving average in light blue.)
6/25/2008 –USD/CHF – Within the context of the long-term downtrend on the USD/CHF daily chart, as shown, price has settled into a slightly downward-sloping range consolidation.
Though this parallel range is more than 300 pips wide, it is still considered a tight consolidation because it occurs on a longer-term daily chart. During consolidations that are tight, watching for breakouts is usually a more prudent direction than trading the range.
In view of this, technical traders will be watching this pair for a break on either side, up or down. But because it is a descending range that follows a recent short-term run up from the long-term lows around 0.9640, there is a slight technical bias towards an eventual breakout to the upside.
If this indeed occurs with momentum, the next resistance level to the upside resides around the 1.0600 region, and then ultimately at the long-term downtrend resistance line represented by the top red line.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 09:04 | Comments (0) | Trackbacks (0)
June 24, 2008 - USD/JPY Chart of the DayTuesday, June 24, 2008
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6/24/2008 – USD/JPY Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/f97af55dc92a_A083/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; uptrend line in green; horizontal support/resistance level in yellow; 200-period simple moving average in light blue.)
6/24/2008 –USD/JPY – In the past several days, price action on the USD/JPY daily chart, as shown, has enforced a rather precise resistance level around 108.50-108.60. This level is represented on the accompanying chart by the yellow horizontal line.
If this significant resistance holds within the next several days, in the absence of any fundamentally-driven breakout, traders will be looking for a bearish impending move. This outlook is strengthened by oscillators like the displayed Stochastics, which are emerging down from extremely overbought.
Support to the downside resides first at the green uptrend support line, and then at the red long-term downtrend line, which acted as resistance before price broke out above it earlier this month.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 11:38 | Comments (0) | Trackbacks (0)
June 23, 2008 - EUR/JPY Chart of the DayMonday, June 23, 2008
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6/23/2008 – EUR/JPY Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/cbc87ed91b4d_84E4/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; horizontal support/resistance level in yellow; 200-period simple moving average in light blue.)
6/23/2008 –EUR/JPY – After breaking out above a long-term downtrend resistance line in early June, price action on the EUR/JPY daily chart, as shown, is hinting at a weakening of upward momentum. An arc is forming that is confirmed by oscillators like the displayed Stochastics, which are pointing unmistakably down from severely overbought.
Another indication of a possible waning of momentum is the fact that price has hit and bounced down off the -23.6% Fibonacci target around the 168.00 region (the low-to-high retracement span being measured from the swing low on 3/20/2008 to the swing high on 4/23/2008).
In the event of a continued move back down, the next major support to the downside resides around the 165.00 region, a previous support/resistance level. Further down, additional support resides at or near the long-term downtrend line in red, which originally acted as resistance before breakout.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 09:27 | Comments (0) | Trackbacks (0)
June 20, 2008 - GBP/USD Chart of the DayFriday, June 20, 2008
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6/20/2008 – GBP/USD 4-Hour Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/5db9942c4b7f_76AD/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; horizontal support/resistance level in yellow; 200-period simple moving average in light blue.)
6/20/2008 –GBP/USD – Price action on the GBP/USD pair, the 4-hour chart of which is shown, has just bumped up against a key downtrend resistance line. Although this line has only been touched two previous times, it connects the 27-year high reached in November 2007 to a major intermediate swing-high hit in March of this year.
Therefore it is a relatively significant dynamic level. The first technical expectation at or near any significant support/resistance level is for price to respect the level by bouncing off of it instead of breaking out of it. Therefore, barring any fundamentally-driven breakout, the prevailing technical bias at this juncture is for an impending turn, or at least a consolidation, at or near this resistance.
Oscillators like the displayed Stochastics are lending strength to this bearish outlook, as they are in extremely overbought territory and are beginning to turn down. In the event of an impending move back down, a major support level to the downside resides around the 1.9600 region, a significant previous support/resistance level.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 08:30 | Comments (0) | Trackbacks (0)
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June 19, 2008 - EUR/USD Chart of the DayThursday, June 19, 2008
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6/19/2008 – EUR/USD Hourly Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/June192008EURUSDChartoftheDay_1E58/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; 200-period simple moving average in light blue.)
6/19/2008 –EUR/USD – The EUR/USD short-term hourly chart, as shown, is mired within a tight horizontal trading consolidation. Support in this range is especially significant, as price has touched and bounced off it many times within the past week.
As of this writing, the morning hours on Thursday in New York saw price hit and bounce up off support once again. This short-term support level resides in the 1.5460 region. Barring any fundamental breakdown, the bias is currently bullish in line with the short-term range trade.
This outlook is supported by oscillators like the displayed Stochastics, which are moving up from extremely oversold. In the event of price making this move back up, the next resistance level to the upside resides in the 1.5585 region.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 11:11 | Comments (0) | Trackbacks (0)
June 18, 2008 - USD/CAD Chart of the DayWednesday, June 18, 2008
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6/18/2008 – USD/CAD Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/June182008USDCADChartoftheDay_AEC8/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; downtrend line in red; horizontal support/resistance level in yellow; 200-period simple moving average in light blue.)
6/18/2008 –USD/CAD – Consolidating price action on the USD/CAD daily chart, as shown, has hit and bounced down off significant resistance within the past week. This resistance is comprised of both the horizontal support/resistance level (represented on the chart in yellow) and the uptrend line (in green) that was broken down back in early May.
After that breakdown, the move back up to the line represented a classic pullback move. Of course, a true pullback and continuation would not be confirmed unless price ultimately moves lower than the lowest low after breakout (around 0.9800). Oscillators like the displayed Stochastics are lending strength to this bearish outlook, as they are clearly emerging down from overbought territory.
In the event of this move back down, however, price is currently very close to a significant support level found at the red downtrend line, whose resistance was broken out of in early June. So essentially, price is wavering within a tight corridor between strong resistance and support, with a slightly bearish bias. Further support to the downside, below the red downtrend line, resides in the region of the aforementioned last low, around 0.9800-0.9820.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 12:26 | Comments (0) | Trackbacks (0)
June 17, 2008 - USD/JPY Chart of the DayTuesday, June 17, 2008
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6/17/2008 – USD/JPY Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/d4e1fe17ba05_D1BC/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; downtrend lines in red; horizontal support/resistance level in yellow; 200-period simple moving average in light blue.)
6/17/2008 –USD/JPY – After breaking cleanly out of a key downtrend resistance line (the top red line) last week, price action on USD/JPY, the daily chart of which is shown, appears poised for a possible throwback to the line. Oscillators like the displayed Stochastics are in extremely overbought territory and beginning to arc back down.
This suggests that momentum on the break may have waned. In the event of this move back down, several currently coinciding support factors exist to the downside. First and foremost is the red downtrend resistance line that price just broke out of last week. The second major support factor is the yellow horizontal support/resistance level at around 105.50, which has acted recently as significant support and resistance.
The third support factor resides in the medium-term green uptrend line, which has provided dynamic uptrend support since mid-March.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 11:53 | Comments (0) | Trackbacks (0)
June 16, 2008 - AUD/USD Chart of the DayMonday, June 16, 2008
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6/16/2008 – AUD/USD 4-Hour Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/12c6f2b6d696_978C/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; horizontal support/resistance level and chart pattern in yellow; 50-period simple moving average in light blue.)
6/16/2008 – AUD/USD – After the long uptrending AUD/USD pair (a 4-hour chart of which is shown) hit a double-top potential reversal in late May and early June, price came down significantly to break down below a key intermediate uptrend line (labeled “A” on the chart).
After this breakdown, price action has formed an inverted pennant formation (in yellow). As pennants are most often considered short-term continuation patterns, the current pennant may be indicating a potential impending continuation of the recent downmove off the highs.
Oscillators like the displayed Stochastics are lending strength to this bearish outlook, as they are beginning to turn down near overbought. In the event of a clean breakdown below the inverted pennant with follow through to the downside, the next major support resides at or near the long-term uptrend support line labeled “B.”
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 10:49 | Comments (0) | Trackbacks (0)
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June 13, 2008 - EUR/USD Chart of the DayFriday, June 13, 2008
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6/13/2008 – EUR/USD 4-Hour Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/June132008EURUSDChartoftheDay_9A9D/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; uptrend line in green; horizontal support/resistance levels in yellow; 200-period simple moving average in light blue.)
6/13/2008 – EUR/USD – Price action on the EUR/USD (the 4-hour chart of which is shown) has finally approached a much-discussed, key support level for the third time, as of this writing. This significant level resides in the 1.5280-1.5300 region.
An additional support factor that lends even more strength to this horizontal support is the red downtrend line, which has served variously as resistance and support since late April. With price having just reached the convergence of these two significant support factors, as well as oscillators like the displayed Stochastics indicating heavily oversold, technical traders are looking for any pronounced bounce up off support to continue the prolonged EUR/USD trading range consolidation.
In the event of this bounce and move back up, the next major resistance level to the upside resides around the 1.5480 region, which has shown to be a significant prior support/resistance level.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 11:00 | Comments (0) | Trackbacks (0)
June 12, 2008 - GBP/USD Chart of the DayThursday, June 12, 2008
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6/12/2008 – GBP/USD 4-Hour Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/5329bc962da7_C13B/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; horizontal support/resistance level in yellow; 200-period simple moving average in light blue.)
6/12/2008 – GBP/USD – Price action on the GBP/USD 4-hour chart, as shown, is approaching a very significant horizontal support level. This level resides around the 1.9350 region, which has been well-respected by at least three very precise bounces since the beginning of the year.
In general, price on this pair has been consolidating for some time now, with diminishing volatility (as is evident by the converging trendlines). Barring any fundamentally-driven breakdown of the strong support found at 1.9350, technical traders are waiting for a further move down to make yet another potential upturn at or near this support.
Oscillators like the displayed Stochastics appear to be supporting this outlook, as the lines are just approaching oversold. If this scenario indeed occurs, a major resistance level to the upside resides around the 1.9600 region, which has served as a significant support/resistance level in the past.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 13:50 | Comments (0) | Trackbacks (0)
June 11, 2008 - USD/CHF Chart of the DayWednesday, June 11, 2008
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6/11/2008 – USD/CHF 4-Hour Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/ce71ba11fd38_99DA/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend lines in red; 50-period simple moving average in light blue.)
6/11/2008 – USD/CHF – Within the context of the long-term downtrend, price on the USD/CHF 4-hour chart, as shown, has been forming a short-term parallel downtrend channel since April of this year.
Within this channel, price has just made a pronounced turn down near resistance. This turn is supported by oscillators like the displayed Stochastics, which have made an equally pronounced downturn from extremely overbought.
In the event of continued momentum to the downside, the next major support resides around 1.0275, which is a significant previous support/resistance region. Further down, clear support resides at the bottom of the parallel downtrend channel.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 11:05 | Comments (0) | Trackbacks (0)
June 10, 2008 - EUR/GBP Chart of the DayTuesday, June 10, 2008
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6/10/2008 – EUR/GBP Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/June102008EURGBPChartoftheDay_9129/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; horizontal support/resistance levels in yellow; 50-period simple moving average in light blue.)
6/10/2008 – EUR/GBP – Price action on the EUR/GBP daily chart, as shown, is currently consolidating in a sideways trading range. At the same time, however, this key cross has just hit and bounced up off of a significant uptrend support line (represented on the chart by the long green line).
In the event that this bounce continues its upward momentum, as might be expected from a technical perspective, the first major resistance to the upside resides around 0.8030, at the previous horizontal resistance level marked “A”.
Oscillators like the displayed Stochastics, however, are pointing towards a possible breakdown of the uptrend line, as they are emerging unmistakably down from overbought. In the event of this breakdown, the next major support to the downside resides around 0.7760, at the previous horizontal support level marked “B”.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 10:20 | Comments (0) | Trackbacks (0)
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June 9, 2008 - EUR/USD Chart of the DayMonday, June 9, 2008
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6/09/2008 – EUR/USD 4-Hour Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/11a1932fa777_B33D/clip_image001_thumb.jpg
(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; uptrend line in green; horizontal support/resistance level in yellow; 200-period simple moving average in light blue.)
6/09/2008 – EUR/USD – The EUR/USD 4-hour chart, as shown, is showing some interesting technical indications. On a long-term basis, this key pair is currently mired in a horizontal trading range, or consolidation.
On the 4-hour chart, price is shown to have just bounced down off a significant resistance level after an impressive short-term bullish run in the past several days. This bounce back down occurs after hitting the combined resistance imposed by the yellow horizontal support/resistance line (in the 1.5815-45 region) and the underside of the green uptrend line.
Oscillators like the displayed Stochastics, which are emerging directly down from severely overbought territory, are lending some strength to a continued short-term bearish move. In the event of this impending move back down, the next major support to the downside resides in the historically significant support/resistance level in the 1.5360 region, which price just reached last Thursday.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 13:10 | Comments (0) | Trackbacks (0)
June 6, 2008 - USD/JPY Chart of the DayFriday, June 6, 2008
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6/06/2008 – USD/JPY Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/June62008USDJPYChartoftheDay_F3D/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend lines in red; uptrend lines in green; 50-period simple moving average in light blue.)
6/06/2008 – USD/JPY – Depending upon how the downtrend resistance line is drawn on the USD/JPY daily chart, as shown, the pair could have either already hit significant downtrend resistance yesterday (line marked “A”), or have around 200 pips more to go before it does so (line marked “B”).
In any event, after today’s Non-Farm Payrolls announcement, the “A” downtrend line was well-respected as price promptly turned back down at resistance. With the displayed Stochastics at or near overbought territory, oscillators are also lending strength to a bearish bias. In this event, the next major support to the downside resides around the 102.50 region, a recent support/resistance zone.
In the event of a fundamentally-driven move back up above the “A” resistance line, on the other hand, price should target further resistance at the “B” downtrend line.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by Samuel Araki in Chart of the Day at 09:06
June 5, 2008 - USD/CAD Chart of the DayThursday, June 5, 2008
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6/05/2008 – USD/CAD Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/June52008USDCADChartoftheDay_9D51/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend lines in red; uptrend lines in green; 200-period simple moving average in light blue.)
6/05/2008 – USD/CAD – Within the current long-term downtrend channel on the USD/CAD daily chart, as shown, price has just reached a critical resistance level.
The most recent upturn initiated last week has pushed price up against two significant resistance factors. The first factor is represented by the short-term descending channel (shown on the chart by the short parallel red lines).
Price has just reached the top resistance line of this short channel. The second factor is the latest intra-channel uptrend line (represented by the rightmost green line) which was broken down early last month. Price can now be considered to have initiated a pullback up to the trendline (now resistance) once again. Of course, this pullback would not be confirmed unless the lowest low after the breakdown is eventually surpassed.
Stochastics are in extremely overbought territory, lending strength to this bearish outlook. Barring any fundamentally-driven breakout above the current resistance, an impending turn back down at or near this resistance should target major support in the region of the lowest low after the breakdown – around 0.9820.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 11:11 | Comments (0) | Trackbacks (0)
June 4, 2008 - EUR/USD Chart of the DayWednesday, June 4, 2008
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6/04/2008 – EUR/USD Hourly Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/June42008EURUSDChartoftheDay_8E5D/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend lines in red; chart pattern in yellow; 50-period simple moving average in light blue.)
6/04/2008 – EUR/USD – Within the context of the short-term downtrend on the EUR/USD hourly chart, as shown, price has formed an inverted flag formation.
The downtrend is represented on the chart by the two red parallel lines, while the flag is outlined by the two yellow lines and the long red bar. As flags are considered primarily continuation patterns, technical traders are looking for a clean breakdown of this flag.
In this event, initial support resides around the 1.5360 region, a significant prior support/resistance level. Below this, the length of the flag pole projected down provides an indication of additional support to the downside.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 10:09 | Comments (0) | Trackbacks (0)
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June 3, 2008 - EUR/JPY Chart of the DayTuesday, June 3, 2008
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6/03/2008 – EUR/JPY Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/June32008EURJPYChartoftheDay_B014/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; 200-period simple moving average in light blue.)
6/03/2008 – EUR/JPY – Strong resistance on the EUR/JPY daily chart, as shown, has exerted repeated downward price pressure on the pair since the multi-year high was hit in July 2007. This highly significant downtrend resistance line is represented on the chart by the long red line.
As of the most recent touch of this line just last week, at least six touches have occurred since July 2007. Therefore, from purely a technical perspective, there currently appears to be a bearish directional bias for the short-term foreseeable future.
In the event of a further move down off resistance, initial support to the downside resides in the region of a significant support/resistance level around 158.60. Oscillators like the displayed Stochastics are lending strength to this outlook of continued downward momentum, as they are pointing directly down after having just emerged from overbought.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 12:32 | Comments (0) | Trackbacks (0)
June 2, 2008 - EUR/USD Chart of the DayMonday, June 2, 2008
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6/02/2008 – EUR/USD Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/June22008EURUSDChartoftheDay_8D68/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; downtrend line in red; horizontal support/resistance levels in yellow; 50-period simple moving average in light blue.)
6/02/2008 – EUR/USD – A sign has emerged that price action on the EUR/USD daily chart, as shown, has begun a potential correction to the downside after reaching the all-time high in late April. This sign is in the form of an unmistakable lower high that has formed within the last week.
Together with the all-time high, this lower high forms the beginnings of what may become a significant downtrend resistance line (represented on the chart by the red line). Though price action is still considered to be stuck within a horizontal trading range (bounded by the top two yellow lines), the tentative downtrend resistance line in red is an indication that significant selling pressure (and perhaps some long-awaited dollar strengthening) may finally be entering into the equation.
Any continued momentum to the downside would target strong support in the 1.5280 region, which is the bottom of the current trading range.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 10:10
May 30, 2008 - USD/JPY Chart of the DayFriday, May 30, 2008
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5/30/2008 – USD/JPY Daily Chart
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/May302008USDJPYChartoftheDay_A3BC/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; Fibonacci retracements in grey; 50- period simple moving average in light blue.)
5/30/2008 – USD/JPY – Price action on the key USD/JPY daily chart, as shown, has reached a critical resistance level. This level is in the form of a significant long-term downtrend line (represented on the chart by the long, red line), which has provided downtrend resistance since the multi-year high in the pair was reached in June of 2007.
A turn back down or at least consolidation at or near this line would be a reasonable outlook from a technical perspective. Current dollar fundamentals would also lend some strength to this bearish outlook. In the event of an impending turn at or near the resistance line, the next major support to the downside resides in the 102.50 region, which has established itself as a significant support level in the last month or so.
A fundamentally-driven break to the upside, on the other hand, would target strong resistance around the historically significant 109.00 level.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 11:50 | Comments (0) | Trackbacks (0)
May 30, 2008 - USD/JPY Chart of the DayFriday, May 30, 2008
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5/30/2008 – USD/JPY Daily Chart
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/May302008USDJPYChartoftheDay_A3BC/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; Fibonacci retracements in grey; 50- period simple moving average in light blue.)
5/30/2008 – USD/JPY – Price action on the key USD/JPY daily chart, as shown, has reached a critical resistance level. This level is in the form of a significant long-term downtrend line (represented on the chart by the long, red line), which has provided downtrend resistance since the multi-year high in the pair was reached in June of 2007.
A turn back down or at least consolidation at or near this line would be a reasonable outlook from a technical perspective. Current dollar fundamentals would also lend some strength to this bearish outlook. In the event of an impending turn at or near the resistance line, the next major support to the downside resides in the 102.50 region, which has established itself as a significant support level in the last month or so.
A fundamentally-driven break to the upside, on the other hand, would target strong resistance around the historically significant 109.00 level.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 11:39 | Comments (0) | Trackbacks (0)
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May 29, 2008 - EUR/GBP Chart of the DayThursday, May 29, 2008
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5/29/2008 – EUR/GBP Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/May292008EURGBPChartoftheDay_A23F/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; horizontal support/resistance levels in yellow; 50-period simple moving average in light blue.)
5/29/2008 – EUR/GBP – Like the other euro crosses, EUR/GBP (the daily chart of which is shown), is mired in somewhat of a horizontal range consolidation. This occurs after an impressive uptrend run that began late last year and culminated in a very long-term high at around 0.8095, which was double-tested in mid-April (represented by the short yellow line on the top).
Currently, price is approaching significant uptrend support, represented by the long green line. This dynamic line is relatively strong, and should provide some considerable price support moving forward. Slightly below this, further support resides at the bottom of the horizontal range around 0.7760 (represented by the longer yellow line).
Oscillators like the displayed Stochastics are lending strength to this potentially bullish outlook, as they have just approached oversold. In the event of an upturn at or near the uptrend support line, major resistance clearly resides in the region of the aforementioned double-tested high around 0.8095.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 11:32
5/28/2008 EUR/USD Chart of the DayWednesday, May 28, 2008
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http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/5272008EURUSDChartoftheDay_A4D5/clip_image002_thumb.gif
(Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; horizontal support/resistance
levels in yellow; 200-period simple moving average in light blue.)
5/28/2008 – EUR/USD – Within the context of the current horizontal consolidation range on the EUR/USD daily chart, as shown, price has formed a short-term uptrend bounded by two short parallel lines (in dotted green).
Traders that are betting on a dollar recovery, or at least a retracement, are waiting for a clean breakdown of the uptrend support line. In this event, strong support resides around the base that has formed within the last couple of months in the 1.5280 region.
Oscillators like the displayed Stochastics are lending strength to this downward bias, as they are emerging down below the 80 line from heavily overbought.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 11:51
5/27 Chart of the DayTuesday, May 27, 2008
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5/27/2008 – EUR/JPY Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/9f089b21d348_91A3/clip_image002_thumb.gif(Price on 1st pane, Slow Stochastics on 2nd pane; downtrend line in red; 200-period simple moving average in light blue.)
5/27/2008 – EUR/JPY – Price on the EUR/JPY daily chart, as shown, is approaching a significant downtrend resistance level. This dynamic resistance is represented on the chart by the long red line. The strength and significance of this line has been reinforced by at least five touches since July of last year. On the impending approach of a sixth potential touch, the bias is towards a turn back down at or near the line to continue the medium-term downtrend. This bias is confirmed by oscillators like the displayed Stochastics, which have been in overbought territory and are pointing down. In the event of this move back down, the next major support to the downside resides in the region of 158.60, which comprises a significant previous support/resistance zone.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Technorati Tags: FX Solutions,Forex Trading,Forex Broker,Forex Charts
Posted by TM Communications in Chart of the Day at 10:25 | Comments (0) | Trackbacks (0)
5/23/2008 – EUR/CHF Daily ChartFriday, May 23, 2008
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http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/5232008EURCHFDailyChart_A853/clip_image003_thumb.gif
5/23/2008 – EUR/CHF Daily Chart*
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/5232008EURCHFDailyChart_A853/clip_image005_thumb.gif
(Price on 1st pane, MACD Histogram on 2nd pane; uptrend lines in green; downtrend line in red; Fibonacci retracements in grey; divergence pattern in magenta.)
5/23/2008 – EUR/CHF – Bearish price-oscillator divergence on the EUR/CHF daily chart, as shown, helped to presage the downturn in the pair that began early in the week. This divergence is outlined by the two short magenta lines, where price made a higher high while the MACD Histogram made a lower high.
This downturn occurred at a significant location with respect to support/resistance, as the point at which the reversal took place was at a significant dynamic resistance level in relation to both the red downtrend resistance line (marked “A”) as well as the green uptrend resistance line (marked “B”).
Currently, price has broken down below the short-term uptrend support line (marked “C”) in the past couple of days. In the event of continued momentum to the downside, the next major support resides around the long-term uptrend support/resistance line (marked “D”). This support is also in the region of a key 38.2% Fibonacci retracement level.
James Chen
Chief Technical Analyst, FX Solutions
To download the latest version of FX AccuCharts 7.0, please click here: Download FX AccuCharts 7.0
*IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Click here for more information.
Technorati Tags: FX Solutions,Forex Trading,Online Trading,Forex Charts
Posted by TM Communications in Chart of the Day at 11:58 | Comments (0) | Trackbacks (0)
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Latest Entries
Special Request from 12,000 Market Club Chart UsersWednesday, March 25, 2009
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Watch the video that explains every aspect of these newly improved Market Club charts released earlier in March. It is worth your time as these charts will help you improve your trading... PERIOD!
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Continue reading "Special Request from 12,000 Market Club Chart Users"
Posted by TM Communications in Trading Videos at 10:13 | Comments (0) | Trackbacks (0)
When You See Something Strange, It's Time to ActThursday, February 26, 2009
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Sometimes markets act a little out of the ordinary despite what everyone is saying and thinking about them. When this happens you need to pay close attention to that market. Why? Because that market maybe getting ready to do something totally contrary to prevailing sentiment.
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Continue reading "When You See Something Strange, It's Time to Act"
Posted by TM Communications in Trading Videos at 12:45 | Comments (0) | Trackbacks (0)
Time to Back the Buck? What the USD/JPY Chart ShowsThursday, February 26, 2009
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Let’s take a look at the US Dollar versus the Japanese Yen (USDJPY). A few weeks ago, Adam Hewison did a video outlining his predictions for this very cross. After being stopped out of his first position for a small loss, he had another signal based on our daily “Trade Triangle” technology, which issued another entry signal at a very good level. The level is clearly indicated on the chart and you’ll see this level in his new video for this cross.
http://www.tradingpostfinancial.com/images/ino_hewison_090225.png
Continue reading "Time to Back the Buck? What the USD/JPY Chart Shows"
Posted by TM Communications in Trading Videos at 12:39 | Comments (0) | Trackbacks (0)
How To Use Stops CorrectlySaturday, February 21, 2009
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Stops are enormously important part of a trader's arsenal of trading tools. Some traders confirm that stops are the most important part of their trading armor. Here are three ways to use stops to protect your capital and succeed you can use in stocks, futures, and Forex trading.
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Continue reading "How To Use Stops Correctly"
Posted by TM Communications in Trading Videos at 12:53 | Comments (0) | Trackbacks (0)
Proper Trand Trading Techniques with the DowWednesday, February 18, 2009
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The negative trend for the DOW is intact and remains in place. In this new video, Adam Hewison of INO.com and MarketClub will share with you a simple trick that will help you to avoid the temptation of trying to pick a bottom. In fact, Adam will show you step-by-step why the DOW is still in a negative trend.
There's a special offer at the end of the video too!
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Continue reading "Proper Trand Trading Techniques with the Dow"
Posted by TM Communications in Trading Videos at 14:37 | Comments (0) | Trackbacks (0)
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How to Find Winning TradesFriday, February 13, 2009
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One of the really great benefits of MarketClub is the ability to find markets that are headed higher and those headed lower using the Smart Scan tool. This technology also helps to identify markets that moving sideways and may be candidates to watch for breakout price action. Smart Scan can be used for a variety of markets; stocks, futures, precious metals, ETFs, and Forex. Watch this powerful tool in action as demonstrated by Adam.
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Posted by TM Communications in Trading Videos at 23:53 | Comments (0) | Trackbacks (0)
Is there any life left in the USD/JPY?Friday, February 13, 2009
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In this short, seven-minute video, Adam Hewison of INO.com and MarketClub explains step-by-step how to analyze the dollar and its relationship with the yen. Adam will also share exactly what he thinks is happening right now in this relationship. Watch the video and see specific target zones where this cross might be headed in the next several months.
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Posted by TM Communications in Trading Videos at 22:25 | Comments (0) | Trackbacks (0)
Non Farm Payroll Webinar CaptureSaturday, February 7, 2009
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A 7-minute excerpt from the Non Farm Payroll webinar of Feb. 6 led by Trading Coach Harold Fretheim. Enjoy!
Posted by TM Communications in Trading Videos at 21:05 | Comments (0) | Trackbacks (0)
The #1 Predictor of Inflation or DeflationWednesday, February 4, 2009
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There is an indicator which has been around since 1957 that has accurately forecasted every inflationary and deflationary cycle since.
This is Adam Hewison's number one indicator for large cycle trends. You may want to watch this index carefully should you want to invest in certain stocks and commodity related markets.
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Posted by TM Communications in Trading Videos at 10:31 | Comments (0) | Trackbacks (0)
The Best Kept Market SecretFriday, January 30, 2009
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Adam Hewison of INO.com's MarketClub reveals the best kept market secret!
In this 8-minute video, Adam demonstrates how a deceased mathematician accurately predicts the gold market with near perfect accuracy!
Check out the video:
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Continue reading "The Best Kept Market Secret"
Posted by TM Communications in Trading Videos at 13:23 | Comments (0) | Trackbacks (0)
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Bulls Zen Bearshttp://www.tradingpostfinancial.com/images/embedded/silhouette_150.jpg D. Harder is a contributor to Trading Post's trading newsletter, Bulls Zen Bears, providing experienced up-to-date market observations.
Harder has over 25 years experience as an investment professional with Canada's leading financial firm. He is a member of the Canadian Society of Technical Analysts and the International Federation of Technical Analysts, and is a Fellow of the Canadian Securities Institute.
D. Harder's Bulls Zen Bears newsletter is enjoyed by people from all over the world.
Latest Entries
The Psychiatry of FinanceTuesday, February 24, 2009
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Volume 2, Issue 8
IMPORTANT NOTICE: Remember to pre-subscribe to HDR Market Timing Strategies so that you don't miss out on D. Harder's updates!EQUITY LOWS ARE RETESTED ONE MORE TIME JUST LIKE 2002 - 2003. A WHOLE HOST OF FACTORS ARE BETTER NOW THAN THEY WERE AT THE OCTOBER AND NOVEMBER 2008 LOWS, SO THE RETEST SHOULD BE SUCCESSFUL. EURO TURNS POSITIVE VS. YEN. BUY SIGNAL FOR CHINESE STOCKS. SELL GOLD AND GOLD STOCKS.Equity markets reached a panic low on Oct. 10, 2008 and then declined to a lower capitulation low six weeks later on Nov. 21. While a double bottom is a classic pattern, retesting the low for the third time is not without precedent. In fact, it happened at the end of the last bear market. The 2002 - 2003 bear market ended with a double bottom on July 24, 2002 and Oct. 10, 2002. Even though equity markets improved into the end of 2002, it seemed very likely that the US would invade Iraq in early 2003. Therefore, most of the gains made after October were lost in early 2003 until a week before the invasion began. Equity markets started a give year rise on Mar. 13, 2003, one week before the invasion of Iraq, just as the SARS virus was causing fears of a global epidemic. You can see the arrows marking these three lows on the chart of the SP 500 Index below. The TSX and most global markets followed exactly the same trend. A chart further below shows a current price of the SP 500 with the arrows marking the October and November 2008 lows.
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How the SP 500 Index and most other global markets retested the lows one more time in March 2003 before a major advance.
The Dow Jones Industrial Average has declined below the November lows while the SP 500 and the TSX are trading right at the lows. In the past, markets have remained above the lows 61% of the time and moved below them 39% of the time. A chart such as the one below does not in any way convey the fear and anxiety that accompanied the lows in March 2003 just before a war was expected to occur. I recall it being very similar to the apprehension we feel today. When news of the SARS virus spread, fear increased, but equity prices kept rising.
In 2003, there was widespread fear and pessimism due to years of stock market declines, the threat of war and a global epidemic. In spite of this, the markets started a powerful rally that lasted 12 months before a small decline. Now, the current financial crisis is causing fear and pessimism. I have found that the situation is always different, but the patterns of markets, as determined by investor behavior, are often very similar.
As the market averages test the lows, it is important to be aware of some of the many factors that are better now than they were during the October and November lows. Here is a brief list addition to the factors mentioned last week: one month US Treasury Bill are yielding 0.16% instead of less than 0% percent, the Canadian dollar is at $0.80 US instead of $0.77 US, the euro is higher compared to the Japanese yen (the euro usually declines as the flight to safety increases), the Dow Jones Utility Index is 11% above the lows, the US Semiconductor Index is up 14%, the Chinese stock market (the Chinese economy is becoming more influential) is 26% higher, gold stock indexes are 100% higher, US retail sales were up for the first time since last July, real estate sales in California were up 100% in 2008 compared to 2007 and the Conference Board's Leading Economic Indicators (LEI) have been up for two months in a row. The worst of the recession has just about always been seen when the LEI are up for three consecutive months. One more month to go? This all suggests that the retest should be resolved with a move to the upside just like 2003.
Bonds - The trend for bond prices is still down.
Commodities - Gold and gold stocks are likely to at least pause in the weeks ahead. Does this mean that the financials are bottoming? Oil is building a base, but no breakout yet.
Currencies - A buy signal is issued for the euro vs. yen. CAD$ vs. US$ is steady.
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This chart of the SP 500 as of last Friday, three months after the Nov. 21 lows. A five-month period of base-building like this usually happens before a rise, not a sharp decline.
http://www.tradingpostfinancial.com/blog/uploads/WindowsLiveWriter/0c154e9797ce_E67C/clip_image002%5B9%5D_thumb.jpg I am reprinting this table created by Dr. Janice Dorn, a financial psychiatrist (janice@thetradingdoctor.com). I am grateful for her permission to publish it here for you.
This shows typical investor emotions during a market cycle. I would say that the Oct. 10, 2008 low was the panic stage and the Nov. 21 low was the capitulation stage. There is not nearly the action and volatility now compared to October and November lows so it makes sense that this is the despondency stage, which usually occurs before a rise. Depression is the next stage. This occurs as the markets rise, because investors have no faith that it will last. When it does, hope returns.
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This index of US bank stocks shows that it has lost 82% of is value since it peaked exactly two years ago from today. It has declined 51% just this year alone! This sector has dragged down the global market averages. Even though some US and all Canadian bans are very healthy, the poor decisions of the minority are hurting them all. I believe hedge funds are short the financials and long gold. How much more profit is left in shorting when the cost to buy a share of Citicorp or Bank of America cost less than a greeting card? The financials continue to be very oversold. It was good to see the BKX refuse to decline today.
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Dreadful performance of US financials is responsible for much of the weakness in the TSX and other global markets. It is positive to see the oscillator so much higher than it was at the lows last fall.
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The long-term oscillator for US markets are declining but are also higher than they were earlier. This has sometimes been a positive sign in the past.
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Most will be flabbergasted to see the stock market of a communist country lead all other world markets to the upside. It is up 26% from the October low. The two green dots on the far right show that it is the first major market in the world to turn positive for the long term! You can see how accurate this indicator has been to determine the long-term trend in the past. China has $2 trillion in cash and is spending over $500 billion in a stimulus plan. This is very positive for the global economy, commodities and stock prices everywhere.
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Gold and gold stocks have had a good run since a buy signal was issued on Nov. 24, 2008. The Canadian Index of gold stocks is up 40% and this US index is up 36% since then. Since the oscillator is so high and rolling over, it suggests that prices are due to at least pause, if not decline for a month or so. That is all it means at this time.
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A buy signal was also issued for gold on Nov. 24 at $828. This was confirmed with a longer-term buy signal for gold and gold stocks on Dec. 29. At today's price of $995, gold is up 20% since Nov. 24 and 13% since Dec. 29. Since gold has peaked when financials bottom, the inability for gold to rally much above $1,000, could have positive implications for equities and financials.
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Oil is flat with a positive bias. It is down since a buy signal was issued for only one half of a normal position on Jan. 5, 2009 at $48. In hindsight, I should have waited for a few positive days before issuing the buy. That is one of the shortcomings of a weekly update instead of a daily one.
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The euro sold off sharply when equities hit lows in October and November. Therefore, it is very interesting to see the euro turn positive vs. the yen when we are retesting the lows again! Buy 50% of a normal position now. This suggests that perhaps there is no more leverage to be eliminated. (Some investors borrowed yen at low interest rates to invest in equities.) It is an encouraging sign that this retest should be successful. The flight to safety and quality is not as strong as it was last year.
Posted by TM Communications in Bulls Zen Bears at 19:11 | Comments (0) | Trackbacks (0)
See the Forest for the TreesTuesday, February 17, 2009
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Volume 2, Issue 7
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THE BIG PICTURE — A SNAPSHOT OF REAL ESTATE, CREDIT MARKETS, EQUITIES AND THE ECONOMY. BASE-BUILDING IS FRUSTRATING, BUT IT IS A CHARACTERISTIC OF A BOTTOME BEFORE A RISE. INFLUENTIAL FINANCIAL STOCKS ARE SHOWING SIGNS OF TURNING UP. In this issue, let us take a look at the bigger picture. Careless lending and borrowing caused a bubble in the real estate prices, especially in the US and the UK. The swift decline in real estate prices which followed caused world credit markets to seize up. This caused fear and reduced business transactions, resulting in a sharp decline for global stock markets and economic activity everywhere. We know that almost no one saw this financial crisis coming. It only stands to reason that very few ill likely see the recovery coming either. Therefore, let us look at some of the indicators that showed signs of trouble to see how they are acting now.
North American equity markets are approximately 10% higher than they were at the Nov. 21, 2008 low, but they have already made no progress since the end of November. This is very frustrating for investors because there is little confidence that the markets will not decline to lower lows at anytime. History can provide some guidance here. A sharp decline followed by a quick rise (known as a V-bottom) is characteristic of a rise in a longer-term decline. A double bottom and/or a period of base-building such as we are enduring, is just about always a sign of a market bottom before a rise, not the precursor of a decline. See examples of V-bottoms and a base-building bottom below.
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Toll Brothers is one of America's biggest home-building companies. You can see that the share price peaked in 2005 before US real estate price peaked. The share price has been hovering around the $20 level for over a year even though new home sales and prices keep dropping. This could be a sign that the worst-case scenario for home prices has already been factored into equity prices. The US Homebuilding Index (XHB) only goes back to 2006.
It is also interesting to look back to see what history can teach us about what usually happens after severe economic recessions and stock market declines. The worst recessions and bear markets in recent history occurred in 1973 - 1974 and 1982. Those were also the only times that stock prices were as undervalued as they are now. In 1980, commodity prices and inflation seemed to be rising out of control in North America. By late 1981 the inflation rate was approaching 2,000% per year in South America. In a desperate effort to break the back of inflationary psychology, US Federal Reserve Chairman Paul Volker increased US interest rates higher than 15% in late 1981, the highest rate in history. North American banks and the IMF had loaned billions of dollars to Brazil and Argentina, which could not be repaid due to the collapse of the commodity bubble. In spite of the doubt at the time, monetary police was successful once again.
Now, the collapse of the housing bubble has caused massive losses for US banks and deflation as the concern. There is little confidence that a monetary policy of zero percent interest rates can jolt global economies back to life. Paul Volker has become one of Obama's Economic Advisors. After 1974, it took 15 months for US markets to come close to record highs again. In 1982, it took less than 6 months. Signs of economic improvements came many months after stock prices turned up. History shows that appropriate US monetary policy works over time.
Technical indicators changed very little this week. However, the long-term oscillators are showing signs that the influential financial stocks could be bottoming and on the verge of turning up longer-term. Usually a government announcement is the catalyst for a strong rise in equity markets. Hopefully that will happen soon.
Bonds - Government bonds are weak as money flows into corporate bonds. This is positive action.
Commodities - Gold is overbought but still positive. Oil might be forming a double bottom.
Currencies - The euro and CAD$ have also been base-building for months. The CAD$ is looking a little more positive compared to the US$. Equities, commodities, and currencies will likely move together.
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The TED Spread is the rate that banks charge to lend to each other. You can see that it has declined from 5.22% in October to 0.93%, which is very close to the normal rate of 5%. Credit conditions have improved.
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This is the difference between the interest rate on US 10-year government bonds and corporate bonds. This rate has declined from 6.22% on Dec. 20 to 5.02% now. Over $75 billion of new corporate bonds were sold in the first 6 weeks of 2009 compared to only $23 billion for December. This shows that confidence is returning to the corporate debt markets. The credit crisis is definitely easing.
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US stock prices have been marking time for four months since the Oct. 10 lows. No more new lows since Nov. 21.
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After spiking over 80 on the October and November lows, the Volatility Index is now down to 43. It is down to where major market bottoms have occurred before (marked by the arrows). It is now at more normal extremes of investor fear. There is still much room for improvement for the VIX and equity markets.
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This gives us an indication of the cost to ship raw materials to ocean vessels. After skyrocketing and collapsing along with commodity prices, rates have now tripled from 665 in December to a more normal 1,900. This is a good sign of the economy. China's $581 billion stimulus program appears to be working.
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V-bottoms occurred during the bear market in 2001 and July 2002 as marked by the arrows. The double bottom in October 2002 to slightly lower lows marked the end of the declining phase. After all, many investors believed that an invasion of Iraq was coming. When that happened in March 2003, the new bull market started. Markets have recently experienced double bottoms. What will be the catalyst this time?
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The DJIA declined 45% during a severe recession in 1973 and 1974. To the surprise of most experts and investors, the DJIA recovered almost all of its losses 15 months after the double bottom on Dec. 6, 1974.
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In 1981, the commodity bubble burst and a severe recession began. By the spring of 1982, banks were on the verge of collapse as 15% interest rates destroyed businesses. Lower rates brought markets to record highs by the end of 1982. Do not underestimate the power of monetary policy and interest rates, even if it takes time.
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Coming back to the present, a recovery by the US financial stocks helped the markets recover after the long-term oscillators bottomed and turned up on Nov. 24, 2008. After the oscillator turned down again in early January, US financial stocks fell 35% and held the equity markets back. The oscillator for the financial sector is showing signs of bottoming and turning up once more. A rise by this sector would greatly help the equity markets. This could hurt gold prices. Note the higher lows for the oscillator since July 2008.
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The long-term oscillator for the DJIA has been declining along with the financials since early January. However, each low on the oscillator is higher than the previous low. This is another indication that this base-building stage should be resolved by a move to the upside.
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While the euro is still weak relative to the US$ and the yen, the CAD$ is showing signs of improvement vs. the US$. The oscillator is staying positive. Higher oil prices would be very helpful to help move the CAD$ out of its trading range. Brazil, Canada, and China seem to be in the best position to recover from this crisis.
Posted by TM Communications in Bulls Zen Bears at 16:06 | Comments (0) | Trackbacks (0)
What Canada Has that the US Does NotWednesday, February 11, 2009
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Volume 2, Issue 6
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THE UPTREND WAS SKATING ON THIN ICE DURING JANUARY BUT REACHED A MUCH MORE SOLID SECTION LAST WEEK. THE MARKETS HAVE PROBABLY SUCCESSFULLY RETESTED THE NOVEMBER LOWS. FURTHER STRENGTH THIS WEEK COULD HELP INVESTORS REALIZE THAT THE GLASS IS HALF FULL INSTEAD OF HALF EMPTY.In fall, equity markets fell sharply for six weeks from Sept. 2 to Oct. 10. Markets usually retest their lows six to seven weeks later so the Oct. 14, 2008 update headline stated that "markets could still be volatile until December before a major rise is likely to begin." Global equity markets rose before the US election but then fell to lower lows exactly six weeks later on Nov. 21. After such a gut-wrenching decline, the Nov. 21, 2008 update was one of the first reports to state that the "base-building stage is over and a new uptrend appears to be starting." I had the confidence to make a bold statement like that at such a frightening time because the long-term oscillators had finally turned up for the markets and the financial sectors.
While the Nov. 21 low was a retest of the Oct. 10 low, it was not a very constructive one, since the November low was 11.8% lower for the SP 500 and 13.5% lower for the TSX. A low within two to five percent of the previous low is normal. The strongest rebound since 1932 followed the Nov. 21 low, but a lower low of the magnitude did not produce confidence that the bear market was over. Therefore, the markets sold off soon after the New Year to see if the November lows would hold. The US financial stocks plunged to new lows on Thursday, Feb. 5, as the Dow Jones Industrial Average dropped to a level that was only 5.3% above the November lows. By the end of the day, the DJIA rose 2.8% to close above the 8,000 level again. However, the low for the SP 500 was 10.7% above the November low and the TSX low was 12.5% higher. While the November low was a retest of the Oct. 10 low, the low last Thursday has all the hallmarks of being a successful retest of the November lows.
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The Volatility Index peaked at a much lower level in January than in October and November. The short-term and long-term trend indicators for the VIX are both red. This means that the VIX is in a declining trend, which is positive for equities.
In recent weeks I have been saying that the indicators were mixed but with a positive bias. It seems like they have been very helpful again during one of the most uncertain times. This is how much prices have gained from the November lows to the end of last week:
DJIA11.2%SP 50017%TSX17.8%NASDAQ22.9%Russell 200026.9%The Dow Jones Utilities Index, which usually leads the markets, is up 30.9%. While finanical stocks fell to lower lows last week, a host of commodities and currencies also had successful retests of previous lows. V bottoms (when the market goes down and then right back up again) are signs of a bear market. Periods of base-building and retests are characteristics of a market bottom before a major rise. While the indicators are still mixes, many more indicators are positive today compared to previous weeks. The market's reaction to the passage of the US stimulus package and the changes for US financial institutions any day now well shed even more light on future trends. This could be the catalyst that finally produces the powerful move to the upside that investors have been waiting for!
Bonds - US 10-year bond yields have risen from 2.32% when a sell signal was issued on Jan. 12 to 3% today. The indicators are still projecting lower prices and higher yields.
Commodities - The indicators are still trying to stay positive for gold, oil, gold stocks, and energy stocks.
Currencies - The trend for the euro vs. yen is turning positive after a successful retest. The euro and CAD$ are still weak vs. the US$.
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The DJU usually leads the markets. You can see (by looking at the red and green lines) that the DJU has been building a strong base of higher lows while the long-term oscillator (olive and pink line) have been rising since November. This has been one of the clues that the market action in the last two months would be resolved to the upside.
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The NASDAQ has also been building a good base along with the semiconductor sector. The trend of this sector is a sign of economic strength.
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The Canadian TSX has also been strong along with Brazil, the NASDAQ and the DJU index. Canadian financial firms are some of the strongest in the world. Strength in gold has also helped the TSX. The financial situation of the Canadian government is much better than most other countries. Overweight Canada.
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The long-term oscillator for the SP 500 has been rolling over, or on the verge of it for several weeks due to the weakness in financial stocks. A positive reaction to the announcements expected this week could turn this back up.
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The short-term trend indicators are positive (green) for the TSX, Brazil, China, the UK, NASDAQ, and DJU. The TSX and NASDAQ are now up for 2009.
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The long-term oscillators for bonds are still declining as expanding government debt increases the supply of bonds dramatically after a period of extreme optimism.
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Gold has risen to the $900 level after a buy signal was issued at $828 on Nov. 24. There are preliminary signs that uptrend for gold prices could be pausing or turning down. The oscillator for gold stocks is identical to this.
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The long-term oscillator for oil is still rising even though oil prices are staying close to the $40 range. A buy signal for a 50% position in oil was issued on Jan. 5 at $48.14.
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The euro has also been testing the lows with the yen and the US$. So far, it has been successful. The long-term oscillator is turning up for the euro vs. yen. Additional strength for the euro this week would be positive for equities, since it suggests that global investors are becoming more confident to assume risk.
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The euro still appears to be weak vs. the US$ even though it has built a very strong base.
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Low oil prices has kept the CAD$ from moving out of the trading range even though Canada seems to be in a much better fiscal position than most other countries. As fear subsides, money should move away from the US$ and back to Canada but right now that process appears to be on hold.
Posted by TM Communications in Bulls Zen Bears at 10:34 | Comments (0) | Trackbacks (0)
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Forex Analysis With eejam
Tuesday, March 10, 2009GJ
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Time : 7.18pm Malaysia
TF : H4
Posted by mna@eejam at 7:12 PM
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Labels: GBPJPY
Wednesday, March 4, 2009EURUSD
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Time : 2.41pm Malaysia
TP1, TP2 and TP3 are targets for time being.
Updates:
1) TP1 has just hit at 3.03pm
2) TP2 & TP3 have already reached
Posted by mna@eejam at 2:40 PM
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GBPJPY
http://3.bp.blogspot.com/_MmckPBPHbFA/Sa4og6QLX9I/AAAAAAAAASo/wVaPOtR3XwY/s320/gjh14mac.gif
Time : 2.08pm Malaysia.
Salam..this is my prediction..still downtrend..
TP1 and TP2 have been hit already for the 1st time.. I am waiting for 2nd time to be hit and also TP3 and TP4.
Today there is possibility for the market to go up. My target point if it go up is 139.330 and then it will go down. I am waiting for this possibility as well.
Recap:
1) This was my post on 25 Feb 09. Refer here : http://eejam.blogspot.com/2009/02/gj_25.html
http://3.bp.blogspot.com/_MmckPBPHbFA/Sa4m2Q81S1I/AAAAAAAAASg/J-lddloAgdE/s320/gjh125feb.gif
note : As usual, all the TPs are gauged by using pipsrider technique.
Posted by mna@eejam at 2:05 PM
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Sunday, March 1, 2009Hari istimewa
Salam...
Pada malam sabtu (28 feb) yg lepas, aku dan famili dinner di Restoran Tasik Indah Shah Alam...aku ingin meraikan malam birthday isteri aku (29 Feb...wpon 29/2 di raikan 4 thn sekali)..sian die 4 thn sekali birthday....kami order deepfried siakap fish sweet sour, kailan ikan masin, udang tepong, ayam crispy, dan air tembikai dan air carrot susu....boleh tahanlah rasa makanan situ,,cuma aku dan isteri mbandingkan restoran ini dgn restoran yg aku sekeluarga pernah makan 5 kali di Sg Buloh (terlupa nama restoran tu).
Lepas makan, kami sampai rumah dlm jam 10.30 mlm....selepas itu isteri aku mengadu sakit perut...sejak dr petang dia dah sakit perut...
Terus kami bersiap dan bawak die ke SMC shah alam..
Sampai di sana, selepas di periksa oleh jururawat bertugas, isteri aku diperintahkan untuk masuk wad. huhuhu.
emmm...selepas aku register isteri aku, aku kena tidurkan anak aku irfan pulak yg berusia 2 thn 3 bulan...sian dah kul 11.30 die masih belum tido...
Selepas irfan dah tido, aku pergi menemani isteri aku yg sedang berada dlm kesakitan...dr jam 12am aku berada di samping die...emmm kesian dan kasih meyelubungi jiwaku..saat2 begini, suami perlu berada di samping isterinye...
Alhamdulillah, tepat jam 1.52am, 1 March 09, aku dikurniakan anak ke-2, baby boy, dgn berat 3.70kg. Kalaulah tahun ini ada 29 Feb, tarikh lahir die pasti sama dgn tarikh lahir mama die...
Emm skrg bertambah tanggungjwb nampaknye aku ni....hari ni pun penuh masa aku melayan kerenah irfan...skrg die dah tido sambil layan cite ultraman die...skrg aku nak layan ManU vs Tottenham pulak wpon tgh penat...takut tv tgk aku je nanti..huhuhu
Hari mendatang pasti mebuat aku sibuk...mcm mane nak bahagi masa dgn famili dan trading...aku fikirlah sendiri...!! assalamualaikum..
Posted by mna@eejam at 10:36 PM
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Thursday, February 26, 2009EU
EU going UP....
TF H4
Time 8.45pm Malaysia
http://4.bp.blogspot.com/_MmckPBPHbFA/SaaNNd7mIvI/AAAAAAAAASA/Q6AgCIh1ndw/s320/euh426feb.gif
M15
http://3.bp.blogspot.com/_MmckPBPHbFA/SaaPQDoKeWI/AAAAAAAAASI/wVOTtqWIZr4/s320/eum1526feb.gif
Updates:
1. mlm tadi trade 3 kali dpt kutip 35 pips masa ia naik.
2. lepas tu dah masuk awal pagi, ia turun..SL penting. Bila dah positive dlm 20pips ++, rajin2 tangan set SL BE (breakeven) atau +1 atau suka hati masing2. Ini untuk mereka yg set TP banyak..biasanya 40pips ke ataslah. Kalau TP sekadar 15-30pips, dah close +ve profit.
Posted by mna@eejam at 8:36 PM
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Labels: EURUSD
Wednesday, February 25, 2009GJ
http://4.bp.blogspot.com/_MmckPBPHbFA/SaU-9IWosiI/AAAAAAAAARg/uNM0JfaqURk/s320/gjh125feb.gif
When i enlarge the image.. :
http://3.bp.blogspot.com/_MmckPBPHbFA/SaU_Dzq4XnI/AAAAAAAAARo/SrxHGhu2LV8/s320/gjh125feb1.gif
TF : H1
Time : 8.52pm Malaysia
Posted by mna@eejam at 8:50 PM
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Tuesday, February 24, 2009GJ tonite
http://2.bp.blogspot.com/_MmckPBPHbFA/SaPmetgubYI/AAAAAAAAARY/qAz3Oba_Xhg/s320/gjh124feb.gif
Posted by mna@eejam at 8:21 PM
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EU tonite
Salam...
http://3.bp.blogspot.com/_MmckPBPHbFA/SaPeZMphS0I/AAAAAAAAARQ/tF8d1L2nFH4/s320/eum1524feb.gif
TF : M15
Time : 8.00pm Malaysia
Posted by mna@eejam at 7:46 PM
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Labels: EURUSD
Sunday, February 22, 2009Pound vs Yen -> GBPJPY
What eejam says??
H1:
http://4.bp.blogspot.com/_MmckPBPHbFA/SaAlc2FuJlI/AAAAAAAAARI/XRtyk38sQa0/s320/gjh121feb.gif
From my observation, wave 5 is not yet finished. Expected to be completed at green area...and then after a complete motive wave (based on H1 chart), continues with corrective wave (a,b,c). Good luck.
Posted by mna@eejam at 12:00 AM
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Saturday, February 21, 2009EurUSD by eejam
Salam...
Along last week, i have no time to update my blog...
Ok,,,let's us start with EU first...
What would be EU this monday?
when i see daily chart, my prediction is as below:
http://3.bp.blogspot.com/_MmckPBPHbFA/SaAExld60TI/AAAAAAAAAQ4/6eRFv8jCFWE/s320/eudaily21feb.gif
Take note that the black line is the point the EU might reach.
Ok now take a look at M15:
http://1.bp.blogspot.com/_MmckPBPHbFA/SaAFE0fbJWI/AAAAAAAAARA/nppz7-Ns86g/s320/eum1521feb.gif
Traders should be looking for the 5 black lines to be reached this monday...
Good luck!!
Posted by mna@eejam at 9:38 PM
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Labels: EURUSD
Saturday, February 14, 2009EURUSD
Hi...
Let's see my EU analysis...
M15
http://2.bp.blogspot.com/_MmckPBPHbFA/SZWaOFjyr4I/AAAAAAAAAQg/phWbUMe3d78/s320/eum1513feb09.gif
H1
http://1.bp.blogspot.com/_MmckPBPHbFA/SZWdBIKJBTI/AAAAAAAAAQw/9Lpx5QuZ9Ds/s320/euh113feb09.gif
If you look at H1, i mentioned that in my previous analysis (click here)...the calculation is still same...after the wave complete wave E / 4, we will see another major downtrend...
Posted by mna@eejam at 12:04 AM
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Labels: EURUSD
Saturday, February 7, 2009GJ Weekly
http://1.bp.blogspot.com/_MmckPBPHbFA/SY2UrSlA4oI/AAAAAAAAAQY/9QU0kossyT4/s320/gjweekly7feb.gif
Salam...aku nampak GJ macam ni arah ia nak pergi next next week berikutnye...
Posted by mna@eejam at 10:03 PM
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Older Posts
Saturday, February 7, 2009EurUsd 9 Feb
Weekly chart EU:
http://1.bp.blogspot.com/_MmckPBPHbFA/SY2Q3zAO8yI/AAAAAAAAAQQ/wyKClDW-hx4/s320/euweekly7feb.gif
Daily chart EU :
http://3.bp.blogspot.com/_MmckPBPHbFA/SY2QF30ggEI/AAAAAAAAAQI/fnm9BvX_hsU/s320/eudaily7feb.gif
Wave 4 still in progress..triangle to form...
M15 Chart EU:
http://4.bp.blogspot.com/_MmckPBPHbFA/SY2O_osyAcI/AAAAAAAAAQA/0JltQ4i0OFA/s320/eum157feb.gif
Here we can see better...i predict the wave 4 will complete soon.
Posted by mna@eejam at 9:38 PM
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GBPUSD 9 Feb
http://3.bp.blogspot.com/_MmckPBPHbFA/SY2AYf9y8YI/AAAAAAAAAP4/0o6unOrgQxU/s320/guh17feb.gif
Salam...meh pakat tengok ramalan kawe ni...ooo GU...
Posted by mna@eejam at 8:36 PM
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Labels: GBPUSD
Friday, February 6, 2009NZDUSD
http://1.bp.blogspot.com/_MmckPBPHbFA/SYv7uyqMg6I/AAAAAAAAAPw/X0I3QIdxHXc/s320/nuh46feb1.gif
Salam...untuk NU, di H4 nampak macam ni...wave 5 (hijau) dari kiraan/analisa aku masih belum abis...
Posted by mna@eejam at 4:56 PM
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Labels: NZDUSD
GCHF
http://4.bp.blogspot.com/_MmckPBPHbFA/SYviyPbaB7I/AAAAAAAAAPo/YEPYm-LwHC4/s320/gch16feb1.gif
Salam..anyway who trade this pair, u can consider...to me whatever pairs can give you profits, u just trade it..
Posted by mna@eejam at 12:09 PM
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GJ on 6 Feb
http://2.bp.blogspot.com/_MmckPBPHbFA/SYuPpXWDBrI/AAAAAAAAAPY/PadmNX4fNXs/s320/gjh16feb1.gif
Salam...this is my prediction for GJ hourly...yesterday i mislooked some subwaves...even last night i was not feeling well...hopefully i recover soon..
Rembember, tonite we have NFP....
Posted by mna@eejam at 9:09 AM
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Thursday, February 5, 2009GJ 5 Feb at 9.15pm
http://1.bp.blogspot.com/_MmckPBPHbFA/SYrmcg4-awI/AAAAAAAAAPI/D5Pntt2d7u4/s320/gjm55feb.gif
this is my prediction...
Posted by mna@eejam at 9:15 PM
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Wednesday, February 4, 2009GJ
http://3.bp.blogspot.com/_MmckPBPHbFA/SYm6Z0tU_bI/AAAAAAAAAPA/qa1kZuZSjBA/s320/gjh14feb.gif
Ready for GJ to go down at 131.12 +-????
we will see...
Posted by mna@eejam at 11:54 PM
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Sunday, February 1, 2009EURUSD
http://1.bp.blogspot.com/_MmckPBPHbFA/SYWqJdMEbjI/AAAAAAAAAO4/WTAULlMKkJc/s320/euh41feb.gif
Posted by mna@eejam at 9:56 PM
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GBPCHF
http://4.bp.blogspot.com/_MmckPBPHbFA/SYWGvGYYBqI/AAAAAAAAAOw/kNAu9ZK8DZY/s320/gchm301feb1.gif
GBPCHF will go down !!!!
Posted by mna@eejam at 7:25 PM
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GBPJPY
http://2.bp.blogspot.com/_MmckPBPHbFA/SYWGWNh2_xI/AAAAAAAAAOo/Xe49zsTwcD4/s320/gjh11feb1.gif
Salam...GBPJPY is going to complete cycle of 12345...and start to go down anytime...;)
We will see...
Posted by mna@eejam at 7:23 PM
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Thursday, January 29, 2009EU truncated??
http://1.bp.blogspot.com/_MmckPBPHbFA/SYGt__1SJ0I/AAAAAAAAAOQ/LUpHGyZm41g/s320/euh129jan.gif
When I look at today market situation seems like two double top establised, is the EU truncated??
Now i have to confirm that the price not exceed as blue box in chart below:
http://3.bp.blogspot.com/_MmckPBPHbFA/SYGvVn25UKI/AAAAAAAAAOg/jsRk3XCcw7c/s320/euh129jan1.gif
Posted by mna@eejam at 9:23 PM
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Tahukah anda?
Pernahkah anda mendengar mengenai hari “Black Wednesday”? Ia berlaku pada 16 September 1992, di mana Bank of England (Bank Negara England) kerugian sebanyak GBP3.4 billion. Orang yang mengaut keuntungan besar di sebalik insiden ini digelar sebagai,
“The Man Who Broke the Bank of England”
Lelaki ini tidak lain dan tidak bukan adalah George Soros, pelabur Forex terkenal seluruh dunia. Soros melihat kelemahan British Pound dan kedegilan Bank of England menaikkan Interest Rates dan beliau mengambil position “short” sebanyak USD10 billion! Dan hasil ‘trade’ tersebut sahaja, beliau membawa pulang keuntungan
Melebihi USD1 Billion
HANYA 1 HARI!
Walaupun anda tidak mempunyai berbillion dollar, namun anda juga masih boleh menghasilkan duit dalam arena yang sama seperti Soros dan masih berpeluang menghasilkan duit yang lumayan (walaupun bukan billion) dan yang paling penting dalam masa yang singkat.
Apakah arena yang disebutkan ini? Ia dipanggil pasaran Forex. FOREX adalah singkatan dari The Foreign Exchange Market. Dan ia adalah di mana semua matawang di dunia ini didagangkan.
Mungkin anda pernah dengar tentang Forex, namun mungkin anda tidak tahu bahawa anda berpeluang untuk melakukan transaksi Forex atau ‘trade Forex’. Ini kerana pada awalnya, hanya ‘Big Boys’ atau bank yang bermodal besar sahaja yang dibenarkan untuk ‘trade’ Forex. Mereka –orang-orang terkaya di dunia dan bank-bank besar- dengan senyap dan cepat mengambil duit hasil titik peluh orang ramai yang dilabur di dalam Mutual Fund, Bond, dan mereka laburkan kembali ke pasaran Forex. Mengapa mereka berbuat sedemikian? Sudah jelas kerana…
Forex dapat menjana untung terbesar berbanding pasaran lain!
Namun sejak tahun 96-97, dan mula popular sejak tahun 2002-2003, orang ramai dibenarkan untuk trade di dalam pasaran Forex menggunakan Firma Online Forex Brokerage.
Juga difahamkan bahawa ada sesetengah bank yang memperuntukkan 20-30% dari keseluruhan modal mereka ke dalam pasaran Forex dan menjana untung sebanyak 40-60% dari keseluruhan untung tahunan dengan berniaga dalam pasaran Forex. Di bawah adalah Top 10 Pelabur Forex seluruh dunia:
http://2.bp.blogspot.com/_MmckPBPHbFA/SYD6hUWCuGI/AAAAAAAAAOI/WFqSYuw8Ep4/s320/Top10.JPG
Posted by mna@eejam at 8:36 AM
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Thursday, January 29, 2009GBPCHF
http://3.bp.blogspot.com/_MmckPBPHbFA/SYDnDWo3DAI/AAAAAAAAAOA/Qqv3464YnCQ/s320/gch128jan.gif
Posted by mna@eejam at 7:14 AM
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28 Jan 09
http://4.bp.blogspot.com/_MmckPBPHbFA/SYDg6Lite8I/AAAAAAAAANw/3IrGU2D5jSw/s320/28jan09.gif
http://3.bp.blogspot.com/_MmckPBPHbFA/SYDg-0jxuhI/AAAAAAAAAN4/9tbJ2-oBBT8/s320/28jan091.gif
Posted by mna@eejam at 5:48 AM
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Wednesday, January 28, 2009EurUsd Elliot Wave forecast
H4:
http://1.bp.blogspot.com/_MmckPBPHbFA/SYBBRBy-OZI/AAAAAAAAANg/QdlQHjZXKW8/s320/euh428jan.gif
H1:
http://2.bp.blogspot.com/_MmckPBPHbFA/SYBBWxDYyOI/AAAAAAAAANo/xILiVEIfwDw/s320/euh128jan.gif
Posted by mna@eejam at 7:27 PM
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Tuesday, January 20, 2009Jangkaan EURUSD
Salam...
Seperti mana dlm post saya terdahulu (http://eejam.blogspot.com/2009/01/eurusd.html), EU on the way to go down and reach the end of wave 3 (refer to chart H4)
Posted by mna@eejam at 3:26 PM
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Monday, January 19, 2009EURUSD
http://4.bp.blogspot.com/_MmckPBPHbFA/SXSfs5EWgkI/AAAAAAAAANY/x0ygInmPeEw/s320/19jan.gif
Posted by mna@eejam at 11:41 PM
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Friday, January 16, 2009Ooo EU..
http://3.bp.blogspot.com/_MmckPBPHbFA/SW--wjj_G2I/AAAAAAAAANQ/23c28I5U3Xs/s320/jan09.gif
Posted by mna@eejam at 6:51 AM
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Tuesday, January 13, 2009EURUSD
EU Weekly:
http://3.bp.blogspot.com/_MmckPBPHbFA/SWynTBcwA_I/AAAAAAAAANA/KCOiNdlrPkI/s320/euw13jan.gif
EU H4
http://4.bp.blogspot.com/_MmckPBPHbFA/SWyndraf4xI/AAAAAAAAANI/xYk8UNHQmyY/s320/euh413jan.gif
Posted by mna@eejam at 10:18 PM
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Friday, January 9, 2009EU
Hi...
Tonite, the NFP news will be announced at 9.30pm (Msia time).
I expect EU to go up.
See my H1 and M15 forecast.
H1:
http://3.bp.blogspot.com/_MmckPBPHbFA/SWcxw7p6fUI/AAAAAAAAAMw/lqyXzADBk10/s320/euh19jan.gif
M15:
http://3.bp.blogspot.com/_MmckPBPHbFA/SWcx6mMXsUI/AAAAAAAAAM4/tjBcoQ9QJsE/s320/eum159jan.gif
Posted by mna@eejam at 7:13 PM
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Thursday, January 8, 2009GJ
is GJ going to retrace to go down now??
http://4.bp.blogspot.com/_MmckPBPHbFA/SWYINFKb8DI/AAAAAAAAAMo/UwOXnJWzFD8/s320/gjh18jan1.gif
Posted by mna@eejam at 10:05 PM
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EU
http://4.bp.blogspot.com/_MmckPBPHbFA/SWYHrtCxQNI/AAAAAAAAAMg/GZ3lM**BVs/s320/euh18jan2.gif
Posted by mna@eejam at 10:02 PM
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EU H1
http://1.bp.blogspot.com/_MmckPBPHbFA/SWXjjUwMGoI/AAAAAAAAAMY/7YU5axyUdL8/s320/euh18jan.gif
My forecast still valid as my previous post -> http://eejam.blogspot.com/2009/01/eu-is-going-down.html
Posted by mna@eejam at 7:28 PM
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GBP JPY H1 Elliot wave
http://4.bp.blogspot.com/_MmckPBPHbFA/SWXh1V87I7I/AAAAAAAAAMQ/TR0B-u4qPlo/s320/gjh18jan.gif
Dari kacamata eejam aje...
Posted by mna@eejam at 7:21 PM
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Wednesday, January 7, 2009EU is going down?
http://2.bp.blogspot.com/_MmckPBPHbFA/SWTCjDm_odI/AAAAAAAAAMI/zU0d_OQ9704/s320/eum156jan.gif
I expect now the EU is going down...if it does not exceed 1.3713, the price will go down till 1.3479..we'll see
Posted by mna@eejam at 10:53 PM
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Monday, January 5, 2009NZDUSD
Teringin nak Elliot wave kan NZDUSD
http://4.bp.blogspot.com/_MmckPBPHbFA/SWIRXjy51NI/AAAAAAAAAMA/LdjYsPaUvqQ/s320/eum302jan.gif
Posted by mna@eejam at 9:37 PM
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Thursday, December 25, 2008Contoh Penggunaan Indi Alligator+5SMA+200EMA+Stoch+AO
1. Keadaan 27 Nov 08
http://2.bp.blogspot.com/_MmckPBPHbFA/SVLSC5TyQVI/AAAAAAAAALI/eR1teZgLYVs/s320/gjm327nov.gif
2. Keadaan 28 Nov 08
http://3.bp.blogspot.com/_MmckPBPHbFA/SVLOH_WTUVI/AAAAAAAAAK4/3I7p2ZeHteg/s320/gjm328nov.gif
3. Keadaan 01 Dec 08
http://1.bp.blogspot.com/_MmckPBPHbFA/SVLM6qNS_9I/AAAAAAAAAKw/dtawlUnpYYo/s320/gjm301dec.gif
4.Keadaan 22 Dec 08
http://4.bp.blogspot.com/_MmckPBPHbFA/SVLogjT52lI/AAAAAAAAALg/4FDpCFn-rqA/s320/gjm3022dec.gif
Posted by mna@eejam at 8:47 AM
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Wednesday, December 24, 2008Moving Average (MA)
The Moving Average Technical Indicator shows the mean instrument price value for a certain period of time. When one calculates the moving average, one averages out the instrument price for this time period. As the price changes, its moving average either increases, or decreases.
There are four different types of moving averages: Simple (also referred to as Arithmetic), Exponential, Smoothed and Linear Weighted. Moving averages may be calculated for any sequential data set, including opening and closing prices, highest and lowest prices, trading volume or any other indicators. It is often the case when double moving averages are used.
The only thing where moving averages of different types diverge considerably from each other, is when weight coefficients, which are assigned to the latest data, are different. In case we are talking of simple moving average, all prices of the time period in question, are equal in value. Exponential and Linear Weighted Moving Averages attach more value to the latest prices.
The most common way to interpreting the price moving average is to compare its dynamics to the price action. When the instrument price rises above its moving average, a buy signal appears, if the price falls below its moving average, what we have is a sell signal.
This trading system, which is based on the moving average, is not designed to provide entrance into the market right in its lowest point, and its exit right on the peak. It allows to act according to the following trend: to buy soon after the prices reach the bottom, and to sell soon after the prices have reached their peak.
Moving averages may also be applied to indicators. That is where the interpretation of indicator moving averages is similar to the interpretation of price moving averages: if the indicator rises above its moving average, that means that the ascending indicator movement is likely to continue: if the indicator falls below its moving average, this means that it is likely to continue going downward.
Here are the types of moving averages on the chart:
*Simple Moving Average (SMA)
*Exponential Moving Average (EMA)
*Smoothed Moving Average (SMMA)
*Linear Weighted Moving Average (LWMA)
http://3.bp.blogspot.com/_MmckPBPHbFA/SVRTjRCXS7I/AAAAAAAAALw/IPQBVauuuNs/s320/movingwaverages.gif
Calculation:
Simple Moving Average (SMA)
Simple, in other words, arithmetical moving average is calculated by summing up the prices of instrument closure over a certain number of single periods (for instance, 12 hours). This value is then divided by the number of such periods.
SMA = SUM(CLOSE, N)/N
Where:
N — is the number of calculation periods.
Exponential Moving Average (EMA)
Exponentially smoothed moving average is calculated by adding the moving average of a certain share of the current closing price to the previous value. With exponentially smoothed moving averages, the latest prices are of more value. P-percent exponential moving average will look like:
EMA = (CLOSE(i)*P)+(EMA(i-1)*(1-P))
Where:
CLOSE(i) — the price of the current period closure;
EMA(i-1) — Exponentially Moving Average of the previous period closure;
P — the percentage of using the price value.
Smoothed Moving Average (SMMA)
The first value of this smoothed moving average is calculated as the simple moving average (SMA):
SUM1 = SUM(CLOSE, N)
SMMA1 = SUM1/N
The second and succeeding moving averages are calculated according to this formula:
SMMA(i) = (SUM1-SMMA1+CLOSE(i))/N
Where:
SUM1 — is the total sum of closing prices for N periods;
SMMA1 — is the smoothed moving average of the first bar;
SMMA(i) — is the smoothed moving average of the current bar (except for the first one);
CLOSE(i) — is the current closing price;
N — is the smoothing period.
Linear Weighted Moving Average (LWMA)
In the case of weighted moving average, the latest data is of more value than more early data. Weighted moving average is calculated by multiplying each one of the closing prices within the considered series, by a certain weight coefficient.
LWMA = SUM(Close(i)*i, N)/SUM(i, N)
Where:
SUM(i, N) — is the total sum of weight coefficients.
source
Posted by mna@eejam at 11:45 AM
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Awesome Oscillator (AO)
AO is a 34-period simple moving average, plotted through the central points of the bars (H+L)/2, and subtracted from the 5-period simple moving average, graphed across the central points of the bars (H+L)/2.
MEDIAN PRICE = (HIGH+LOW)/2
AO = SMA(MEDIAN PRICE, 5)-SMA(MEDIAN PRICE, 34)
Signals to buy
Saucer
This is the only signal to buy that comes when the bar chart is higher than the nought line. One must bear in mind:
*the saucer signal is generated when the bar chart reversed its direction from the downward to upward. The second column is lower than the first one and is colored red. The third column is higher than the second and is colored green.
*for the saucer signal to be generated the bar chart should have at least three columns.
Keep in mind, that all Awesome Oscillator columns should be over the nought line for the saucer signal to be used.
Nought line crossing
The signal to buy is generated when the bar chart passes from the area of negative values to that of positive. It comes when the bar chart crosses the nought line. As regards this signal:
*for this signal to be generated, only two columns are necessary;
*the first column is to be below the nought line, the second one is to cross it (transition from a negative value to a positive one);
*simultaneous generation of signals to buy and to sell is impossible.
Two pikes
This is the only signal to buy that can be generated when the bar chart values are below the nought line. As regards this signal, please, bear in mind:
*another by followed is and line nought the below which minimum lowest (the down pointing pike a have you when generated signal the down-pointing) pike which is somewhat higher (a negative figure with a lesser absolute value, which is therefore closer to the nought line), than the previous down-looking pike.
*the bar chart is to be below the nought line between the two pikes. If the bar chart crosses the nought line in the section between the pikes, the signal to buy doesn’t function. However, a different signal to buy will be generated — nought line crossing.
*each new pike of the bar chart is to be higher (a negative number of a lesser absolute value that is closer to the nought line) than the previous pike.
*if an additional higher pike is formed (that is closer to the nought line) and the bar chart has not crossed the nought line, an additional signal to buy will be generated.
Signals to sell
Awesome Oscillator signals to sell are identical to the signals to buy. The saucer signal is reversed and is below zero. Nought line crossing is on the decrease — the first column of it is over the nought, the second one is under it. The two pikes signal is higher than the nought line and is reversed too.
http://1.bp.blogspot.com/_MmckPBPHbFA/SVRS6tJMY0I/AAAAAAAAALo/0BKJtDQxBdc/s320/awesome_oscillator.gif
source
Posted by mna@eejam at 8:40 AM
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Alligator
http://1.bp.blogspot.com/_MmckPBPHbFA/SVRVlHWuhZI/AAAAAAAAAL4/_8GhTEZISxc/s320/alligator.gif
In principle, Alligator Technical Indicator is a combination of Balance Lines (Moving Averages) that use fractal geometry and nonlinear dynamics.
*The blue line (Alligator’s Jaw) is the Balance Line for the timeframe that was used to build the chart (13-period Smoothed Moving Average, moved into the future by 8 bars);
*The red line (Alligator’s Teeth) is the Balance Line for the value timeframe of one level lower (8-period Smoothed Moving Average, moved by 5 bars into the future);
*The green line (Alligator’s Lips) is the Balance Line for the value timeframe, one more level lower (5-period Smoothed Moving Average, moved by 3 bars into the future).
Lips, Teeth and Jaw of the Alligator show the interaction of different time periods. As clear trends can be seen only 15 to 30 per cent of the time, it is essential to follow them and refrainfrom working on markets that fluctuate only within certain price periods.
When the Jaw, the Teeth and the Lips are closed or intertwined, it means the Alligator is going to sleep or is asleep already. As it sleeps, it gets hungrier and hungrier — the longer it will sleep, the hungrier it will wake up. The first thing it does after it wakes up is to open its mouth and yawn. Then the smell of food comes to its nostrils: flesh of a bull or flesh of a bear, and the Alligator starts to hunt it. Having eaten enough to feel quite full, the Alligator starts to lose the interest to the food/price (Balance Lines join together) — this is the time to fix the profit.
source
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Wednesday, December 17, 2008Indicators : Alligator + AO + EMA + SMA + Stochastic
Salam...
Aku nak share beberapa indicator yg masih aku gunakan dlm trading harian aku.
1) Alligator
2) 5SMA
3) 200EMA
4) Stochastic
5) AO
Rupa dalam chart spt beikut:
http://2.bp.blogspot.com/_MmckPBPHbFA/SUmakOR-hLI/AAAAAAAAAKA/iADgVAkdgNg/s320/gjm30.gif
Macam mane nak masukkan indicator ini...
Bagi mereka yg baru dlm forex ye..mcm ni:
1) Alligator - Dalam platform Metatrader, pergi bahagian atas bernama "Insert". pastu gi ke Indicators -> Bill Williams -> Alligator.
2) 5SMA - Dalam platform Metatrader, Insert -> Indicators -> Trend -> Moving Average.
Masukan Period = 5, Shift = 0, MA Method = simple and Apply to = close.
3) 200EMA - Dalam platform Metatrader, Insert -> Indicators -> Trend -> Moving Average.
Masukan Period = 200, Shift = 0, MA Method = exponential and Apply to = close.
4) Stochastic Oscillator - Dalam platform Metatrader, Insert -> Indicators -> Oscillator -> Stochastic Oscillator.
Masukan %K period : 5, %D period : 3, dan Slowing : 4...Price field : Low/High, MA Method : Simple.
ATAU
%K period : 8, %D period : 3, dan Slowing : 3...Price field : Low/High @ close/close, MA Method : Simple.
5) AO - Dalam platform Metatrader, Insert -> Indicators -> Bill Williams -> Awesome Oscillator.
Itu sahaja caranye.
Nak entry :
Rulesnya spt berikut:
1) Tgk TF30 dan TF1H
2) BUY - pada TF30, bila SMA (garis putih) bersilang dgn alligator (line hijau / lips), dan AO berada di atas line 0 atau ingin cross dr bawah ke atas, posisi buy boleh di ambil. Pada masa yg sama, perhatilan juga Stochastic sama ada ia juga sudah bersilang atau tidak. SL dan TP bergantung pada apa pair yg anda trade. biasa kalau EU, UJ, GU, SL = 30pip...
3) SELL - pada TF30, bila SMA bersilang dgn alligator (line biru / Jaw), dan AO berada di bawah line 0 atau ingin cross dr atas ke bawah, posisi sell boleh diambil. Pada masa yg sama, perhatilan juga Stochastic sama ada ia juga sudah bersilang atau tidak.
Ambillah TP 20pips at least..insyaAllah dpt...
Selamat mencuba.
p/s TF30m diambil memandangkan ia taklah terlalu lama dan tidah terlalu cepat...kalau nak lagi selamat, gunalah TF1H...biasanye saya guna TF30m, entry dan refer TF1H utk tahu momentum price itu...kalau di TF1H, keadaannye sama spt TF30m, maka biasanye price utk terus pergi adalah cerah...boleh lah dpt lebih 50pips atau lebih 100pips.
Posted by mna@eejam at 10:40 PM
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Fill in the blanks
Can you fill in the blanks:
1) I will NOT trade if/when __________________________________________
2) I will ONLY trade LONG if/when ____________________________________
3) I will ONLY trade SHORT if/when ___________________________________
4) I will STOP trading for the day if/when ______________________________
5) I will STOP trading if I lose ____ pips or _____ trades in a row or $_______
6) I will STOP trading if i make ____ pips or _____ trades in a row or $______
7) I ONLY trade between the hours of _____ and _____
8) I ONLY trade on Sun( ) Mon( ) Tues( ) Wed( ) Thur( ) Fri( ) Sat( )
9) I will NEVER trade if/when ________________________________________
10) I ALWAYS do this BEFORE I begin trading ___________________________
Posted by mna@eejam at 3:14 PM
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Tip-tip Bagaimana Menjadi Jutawan Daripada Al-Quran
Salam...
Saya mulakan dgn Bismillahhirrahmannirahim...
http://4.bp.blogspot.com/_MmckPBPHbFA/SUiHMYJoxZI/AAAAAAAAAJw/iUn0VwNNjkk/s320/56-1-13.gif
Artikel di bawah ini saya dpt drp satu blog....
bacalah utk panduan kita...
Mahmud Ibn Labid r.a. pernah berkata, bahawa beliau mendengar Rasulullah bersabda, “Dua perkara yang tidak disenangi oleh anak Adam. Mati, padahal mati itu adalah lebih baik dari dugaan (kesesatan). Harta yang sedikit, padahal harta yang sedikit meringankan hisab.
Namun sekiranya anda ingin juga menjadi seorang jutawan, Allah s.w.t telah berfirman di dalam surah An-Nuur ayat 37 hingga 38, “(Ibadat itu dikerjakan oleh) orang-orang yang kuat imannya yang tidak dilalaikan oleh perniagaan atau berjual-beli daripada menyebut serta mengingati Allah, dan mendirikan solat serta memberi zakat; mereka takutkan hari (kiamat) yang padanya berbalik-balik hati dan pandangan.”
“(Mereka mengerjakan semuanya itu) supaya Allah membalas mereka dengan sebaik-baik balasan bagi apa yang mereka kerjakan, dan menambahi mereka lagi dari limpah kurniaNya; dan sememangnya Allah memberi rezeki kepada sesiapa yang dikehendakiNya dengan tidak terhitung.”
Bermaksud, dengan mengingati Allah, mendirikan solat, memberi zakat dan sedekah, takutkan hari kiamat kerana akan diadili, seseorang itu akan mendapat limpah kurnia Allah dan pembalasan yang paling baik. Allah sesungguhnya satu-satunya sumber segala rezeki dan Dia akan menambahkan kurniaNya kepada hamba yang mempunyai ciri-ciri seperti di atas.
Kajilah Al-Quran dengan sebenarnya-benarnya, kerana tips untuk menjadi jutawan banyak terdapat di dalam Al-Quran. Terjemahan Al-Quran bermodalkan RM20 di pasaran. Menurut Abu Said r.a., Allah berfirman di dalam sebuah hadith qudsi, “Sesiapa yang disibukkan oleh Al-Quran daripada berzikir dan meminta kepadaKu, maka Aku akan memberikan kepadanya sesuatu yang lebih utama daripada diberikan kepada orang yang meminta kepadaKu”
Sekiranya anda bukan berniat untuk menjadi jutawan, tetapi sekadar ingin hidup sederhana, beribadat kepada Allah. Serta dalam masa yang sama tidak mahu mempunyai bebanan hutang dan dikurniakan kecukupan dalam semua perkara, amalkan membaca Surah Al-Waqiah setiap malam. Menurut Ibnu Mas’ud, Rasulullah s.a.w telah bersabda, “Sesiapa yang membaca surah Al-Waqiah pada setiap malam, ia tidak akan ditimpa kemiskinan selama-lamanya.”
Sekiranya anda sekarang berada di dalam keadaan terdesak, ditimpa kesusahan, memerlukan “fast-cash” untuk sesuatu perkara mustahak, maka ikutlah petua Rasulullah s.a.w. Di dalam sebuah hadith yang diriwayat oleh Huzaifah r.a., apabila Rasulullah s.a.w mengalami kesulitan, beliau akan segera mengerjakan solat. Solat yang dimaksudkan adalah solat sunat. Ini adalah selaras dengan firman Allah di dalam surah Al-Baqarah ayat 45, “Dan mintalah pertolongan (kepada Allah) dengan jalan sabar dan mengerjakan solat; dan sesungguhnya solat itu amatlah berat kecuali kepada orang-orang yang khusyuk”.
Di dalam riwayat lain diceritakan oleh Abdullah bin Salam r.a., ketika keluarga Rasulullah menghadapi sebarang kesempitan rezeki, beliau akan memerintahkan mereka mendirikan solat dan membaca ayat 132 surah Taha.Firman Allah di dalam ayat berkenaan, “Dan perintahkanlah keluargamu serta umatmu mengerjakan sembahyang, dan hendaklah engkau tekun bersabar menunaikannya. Kami tidak meminta rezeki kepadamu, (bahkan) Kamilah yang memberi rezeki kepadamu. Dan (ingatlah) kesudahan yang baik adalah bagi orang-orang yang bertaqwa.”
Kebanyakkan yang mengamalkan tip ini mendapat kemurahan rezeki yang luas dan “low profile”. Mereka tidak terburu-buru dan tergesa-gesa dalam mengejar kesenangan. Kebanyakkan mereka akhirnya menjadi komited dalam beribadat atau melakukan aktiviti dakwah. Mereka hanya melakukan sedikit pekerjaan dunia, namun kurnia yang diperolehi melebihi apa yang mereka kerjakan.
Wallahu’alam.
Jami-ul-Saghir (Terjemahan H. Nadjih Ahjad),Imam Suyuthi, PT Bina Ilmu, Jakarta, 2003; Riwayat Ahmad, hadith #166.
Muntakhab Ahadits (terjemahan Muhammad Qasim at Timori), Maulana Muhammad Yussuf Al-Khandalawi, Pustaka Ramadhan, Bandung, Indonesia, 2004; Riwayat Tirmizi, ms327
Jami-ul-Saghir, op. cit.; Riwayat Baihaqi, hadith #8942, menurut Imam Suyuthi berstatus daif.
Muntakhab Ahadits, op. cit.; ms 244
Ibid.
Posted by mna@eejam at 12:53 PM
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Does $700 Billion Deserve This Much Attention?
By Robert Folsom
As the economic crisis has unfolded, a lot of different financial issues have played their own special part, and most have had their "day in the headlines." But when it comes to sheer volume of media ink and airtime, the $700 billion bailout probably tops the list. Does it deserve all the attention it's getting?
The "$700 billion" figure was conceived immediately after Lehman Brothers collapsed in mid-September, and has remained in the news virtually every day since. This week the focus was on an "oversight committee" that's supposed to hold the Treasury Department accountable for what it does with the $700 billion. That committee managed to issue its first report on Dec. 10, titled "Questions About the $700 Billion Emergency Economic Stabilization Funds."
I actually read the questions and they seemed reasonable enough. Even so, I couldn't help but wonder if this is the first time in history that a committee put 10 questions down on paper and called it an "Oversight Report" -- even before the department they oversee bothered to give any answers.
Historic firsts aside, there's still the question of $700 billion deserving this much attention. The reflexive answer would be "You're bloody right it deserves attention -- that's a lot of taxpayer money!"
And that's true enough -- "a lot" indeed. Then again, the scope of this crisis has helped make certain dollar amounts somewhat, umm, relative...
...Which is to say: Some numbers are bigger than others. The Treasury has supposedly spent only half of the $700 billion, since it became available on Oct. 3. Of course, it's hard to imagine that the printing presses could go any faster anyway.
But wait: The printing presses HAVE been going a LOT faster. The $700 billion is a sideshow, dear reader.
The Federal Reserve has pumped out $1.23 t-t-trillion in the past 12 weeks alone, through their so-called lending facilities. As for "oversight," you may as well imagine instead a big collective horselaugh. There ain't no oversight. The Fed refused a Freedom of Information Act request to disclose the recipients of their lending (which actually totals $2 trillion so far).
So, I believe that "Too much attention?" to the $700 billion is actually the wrong question. The better one is, "Why almost NO attention to TRILLIONS flowing out of the Federal Reserve?" Bloomberg News has been virtually alone in covering this, and is likewise alone in filing suit regarding the Fed's refusal to disclose who the borrowers are.
The "bailouts" haven't helped anyone or anything except the big institutions on the receiving end. The best help you're going to get will consist of what you do for yourself.
Posted by mna@eejam at 8:01 AM
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Tuesday, December 16, 2008About Elliotwave Analyst in Elliotwave.com
ROBERT R. PRECHTER
The founder and president of Elliott Wave International. He has been publishing The Elliott Wave Theorist since 1979. Mr. Prechter is also Executive Director of the Socionomic Institute, an independent think-tank whose mission is to develop socionomics as an academic discipline and to promote its commercial application.
STEVEN HOCHBERG
Began his professional career with Merrill Lynch & Co. and joined Elliott Wave International in 1994. He became co-editor of The Elliott Wave Financial Forecast for its inaugural issue in
July 1999.
PETER KENDALL
Joined Elliott Wave International as a researcher in 1992 and has contributed to The Elliott Wave Theorist since 1995. He has been co-editor of The Elliott Wave Financial Forecast since its inception in July 1999. He is also the director of Elliott Wave International’s Center for Cultural Studies.
Posted by mna@eejam at 1:04 PM
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Sunday, December 14, 2008Japanese Yen: Guesswork Vs. Forecasting
By Vadim Pokhlebkin
You may have heard that this week, the Japanese yen hit a 13-year high against the U.S. dollar. As The Financial Times put it in a December 17 article,
The yen appreciated to its strongest level against the dollar in 13 years as the US Federal Reserve unexpectedly cut interest rates from 1 per cent to a range of 0 to 0.25 per cent. The yen’s reached Y88.24 to the dollar by mid-afternoon in Tokyo. The currency has gained more than a quarter in value against the dollar so far this year.
To currency traders, this pair is known as the USD/JPY. So, why is the yen gaining? Apparently, "It gained a reputation as a safe-haven currency during turbulent times…" Now that we find ourselves in the middle of a financial crisis, that's a perfectly good explanation – in retrospect. But could you have predicted the yen's current strength six months ago? A year ago?
It depends on how you would have gone about coming up with that prediction. Was there anything in the yen's "fundamentals" six-twelve months ago that would have suggested its current strength? Unless the memory fails me, no. So, a year ago, stating that the yen would soon gain "a reputation as a safe-haven currency" likely would have been nothing but a wild guess.
The opposite of wild guesses is a certainty. Somewhere in-between is a forecast – still a guess, because no one knows the future – but an educated guess, nevertheless. (Maybe even a highly educated one.) Thus, a forecast is not based on guesswork; in the two examples you're about to see, forecasts were based on years of experience and concrete technical evidence that the yen was offering earlier this year.
Here is a forecast for the USD/JPY from Elliott Wave International's monthly Global Market Perspective (GMP) – as published on January 4, 2008, almost exactly a year ago:
http://3.bp.blogspot.com/_MmckPBPHbFA/SUtM16sCfJI/AAAAAAAAAKQ/hKREtZQSU1Y/s320/uj.GIF
Forecast, January 2008 GMP (excerpt): "We can anticipate that the yen will … resume its larger bull trend against the dollar, evidenced by $JPY falling to a new low."
Posted by mna@eejam at 3:26 PM
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GJ M30 25 Sept Elliot Wave
http://4.bp.blogspot.com/_MmckPBPHbFA/SNqv5xxgiwI/AAAAAAAAAHU/6VfSWyIL1O4/s320/gjm3025sept08.gif
I incline GJ to go up to complete wave v.
Posted by mna@eejam at 5:22 AM
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Sunday, September 21, 2008BSTS - Bujang Senang Trading System
BSTS
I attended the course on 23 March 08. you can see me at http://img525.imageshack.us/my.php?image=dsc00003jm5.jpg (the guy wearing white cap)
It's a very good course. And also the support after course is also great..until now all ex-students of Jebat are fully supported (in term of knowledge and elliot wave counting)
The details about the course:
Malaysia Forex Training Centre is designed to provide novice currency traders with a broad overview of the Forex market. The course covers everything from reading forex quotes to trading on margin, using technical analysis to identify market trends and opportunities, and much more.
Our Forex Workshop is a comprehensive training program designed to teach investors how to :
1. Recognize and capitalize on the market trends using an Elliot Wave Trading Strategy.
2. Read and analyze currency charts using an advanced technical tools specially provided by us called "Bujang Senang Trading System I, II & III"(BSTS).
3. Manage risk and protect open positions using trailing stop loss, multiple entry and exit strategy.
4. Anticipate and react to major economic events impacting global currencies.
Posted by mna@eejam at 9:01 AM
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Saturday, September 20, 2008USDJ/JPY - EW Next week
http://4.bp.blogspot.com/_MmckPBPHbFA/SNSV6ZAUUWI/AAAAAAAAAHM/QaQ0JCZprzQ/s320/ujh120sept08.gif
Posted by mna@eejam at 2:18 PM
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EUR/USD - EW next week
Let study my forecast based on Elliot wave for EU:
Time frame is H4
http://1.bp.blogspot.com/_MmckPBPHbFA/SNSSt7-ntFI/AAAAAAAAAHE/ynTD83bJJTY/s320/euh420sept08.gif
Posted by mna@eejam at 2:04 PM
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GBP/JPY - My EW counting for next week
It's just my forecast based on my Elliot Wave counting...
Let's see timeframe H4:
http://2.bp.blogspot.com/_MmckPBPHbFA/SNSOTGVfPvI/AAAAAAAAAG0/Z-NV994NNCA/s320/gjh420sept08.gif
Timeframe M30:
http://3.bp.blogspot.com/_MmckPBPHbFA/SNSPozO5bKI/AAAAAAAAAG8/ng8nbbxQeyY/s320/gjm3020sept08.gif
Posted by mna@eejam at 1:46 PM
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Friday, September 19, 2008Sejarah Forex...apakah anda tau?
Ini aku ambil dari salah satu forum...just utk pengetahuan...ia dalam bahasa indonesia..
Sejarah Pertukaran Mata Uang Asing
lebih lengkapnya di http://www.belajarmarketiva.com
Sejak jaman dahulu, manusia telah melakukan perdagangan dengan sekelilingnya untuk berbagai alasan dengan cara sistem barter. Seiring dengan perkembangnya jaman dan peradaban sistem barter ini gugur karena mempunyai banyak kelemahan sehingga ditemukan sistem â
GJ M30 25 Sept Elliot Wave
http://4.bp.blogspot.com/_MmckPBPHbFA/SNqv5xxgiwI/AAAAAAAAAHU/6VfSWyIL1O4/s320/gjm3025sept08.gif
I incline GJ to go up to complete wave v.
Posted by mna@eejam at 5:22 AM
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Sunday, September 21, 2008BSTS - Bujang Senang TradingPosted by mna@eejam at 9:01 AM
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Saturday, September 20, 2008USDJ/JPY - EW Next week
http://4.bp.blogspot.com/_MmckPBPHbFA/SNSV6ZAUUWI/AAAAAAAAAHM/QaQ0JCZprzQ/s320/ujh120sept08.gif
Posted by mna@eejam at 2:18 PM
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EUR/USD - EW next week
Let study my forecast based on Elliot wave for EU:
Time frame is H4
http://1.bp.blogspot.com/_MmckPBPHbFA/SNSSt7-ntFI/AAAAAAAAAHE/ynTD83bJJTY/s320/euh420sept08.gif
Posted by mna@eejam at 2:04 PM
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GBP/JPY - My EW counting for next week
It's just my forecast based on my Elliot Wave counting...
Let's see timeframe H4:
http://2.bp.blogspot.com/_MmckPBPHbFA/SNSOTGVfPvI/AAAAAAAAAG0/Z-NV994NNCA/s320/gjh420sept08.gif
Timeframe M30:
http://3.bp.blogspot.com/_MmckPBPHbFA/SNSPozO5bKI/AAAAAAAAAG8/ng8nbbxQeyY/s320/gjm3020sept08.gif
Posted by mna@eejam at 1:46 PM
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19 Sept 08
This is winpips system...
you may get it at http://www.fx-hunters.com/ or http://fxhuntersdon.blogspot.com/
i started trading at 9.40pm...market is going to close soon before open on monday.....
here is what i get within 7 minutes trading:
usd45.70 + usd74.29 + usd44.55 = usd164.54
http://2.bp.blogspot.com/_MmckPBPHbFA/SNO9VGf8aNI/AAAAAAAAAGs/HN8kWJfCeho/s320/19sept.jpg
Posted by mna@eejam at 12:18 AM
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GJ oo GJ
I am trying to trade GJ this week (GBP/JPY = Pound vs Yen)....
ok...on 16 sept08 and 17 sept08..this what i get as a part time trader...net profit usd177.01 (about 80pips)..
http://4.bp.blogspot.com/_MmckPBPHbFA/SNJ_jqiZsyI/AAAAAAAAAGM/scn_NmWEbHw/s320/18sept_1.jpg
what about 18 sept08:
i get usd802.40...
http://1.bp.blogspot.com/_MmckPBPHbFA/SNJ_t8HJbiI/AAAAAAAAAGU/BUIp5APTz7U/s320/18sept_2.jpg
Posted by mna@eejam at 12:18 AM
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Sunday, September 7, 2008UJ H1 7 Sept 08
http://2.bp.blogspot.com/_MmckPBPHbFA/SMN5YVjTFII/AAAAAAAAAEo/zw9o-rRCdyE/s320/ujh17sept08.gif
I prefer UJ will go up..
Posted by mna@eejam at 2:48 PM
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