Here is an interesting chart. GBPCHF bounced off the lower channel band, with confluences of Fib extensions and harmonic patterns. I am interested in trading the Long side.
OK, I am going to confuse you with this chart. Go figure.
Here is what I see in $EURGBP. I am looking at the potential head and shoulder formation. Let’s see how it works out.
[tab: Setup]
Here is the CHART! (click on the chart to magnify)
[tab: Update]
EURGBP did not follow through, and it failed to reach the level to form H&S. No trade was taken.
Let’s have a look at the beast, $GBPJPY. I see some confluences of Fib levels, resistance levels and harmonic pattern formation. I am interested in getting in some shorts around 131.80 level or slightly above this level. Let’s see..
[tab: Setup]
Here is the…. CHART!
[tab: Trade update]
No update at the moment, come back later.
[tab:END]
Here is what I see in $EURUSD now. I might be completely wrong and miss the move, but I would prefer to get in short position somewhere near 1.4250 to 1.43 level. I see the confluence of Fib levels, resistance zone in weekly chart, and a harmonic pattern. I’ll be looking at this setup closely next week, if NFP doesn’t destroy the technical picture.
Here is the CHART! (click on the chart to magnify)
[tab: setup ]
[tab: Update ]
EURUSD hit the zone, and reversed. Setup worked out nicely.
[tab:END]
Not so much of trading for me this week. It is a gambling week, and I don’t have too much of time and energy to gamble the NFP, FOMC, Election etc. Anyway, Dollar index ($DX) bounces off weekly trend line formed by the lows of 2008.4.20 and 2009.11.22. We have a simple harmonic pattern and some Fib levels confluences at current level. Here is the daily chart. This might open up the door for some interesting trading opportunities for the coming week.
[tab: Setup]
Here is the CHART!
Trade safe, Trade well.
[tab: Update 16 Nov 2010]
Here is the updated DX chart. Bullish harmonic formation works out nicely. Dollar still looking bullish
Here is the Swissy chart that I am looking at. I would like to see some price rejections in this zone before establishing short position. Notice the ABCD formation is completed in the resistance zone as well.
Just look at the chart, I am too lazy to write lately. It is really not difficult to recognize a pattern. The key is to manage the trade after recognizing the pattern. We can always have the same patterns/setups, but different set of trading result.
Here is the CHART!
