Here is the EURGBP chart I mentioned earlier on in my tweet. The pair has recently completed a Bearish ABCD formation, and it is trading right in the supply level. I am looking at the short side for now, and the setup will be invalidated above 0.8945.
Here is the…. CHART!
Here are the currency pairs and the key levels on my watch list for this week. I am not sure if I have any extra energy to trade this week, since I am busy preparing for next week’s house moving. Anyway, that’s not the point of this post. Again, these levels are just support/resistance that I am watching.
Here are the …CHARTS!
[tab: EURUSD]
[tab:GBPUSD]
[tab: EURGBP]
[tab: NZDUSD]
[tab: EURJPY]
[tab: USDCHF]
[tab: USDSGD]
Here are the pairs and the key levels that I’ll be watching for the coming week. These are basically support and resistance levels. Since I am mostly trading off 4-hour charts, I am only posting charts of this time frame here.
Have a great trading week ahead!
[tab: GOLD]
[tab: AUDUSD]
[tab: EURGBP]
[tab: EURUSD]
[tab: GBPUSD]
[tab: NZDUSD]
[tab: USDCAD]
[tab: USDCHF]
I have been looking at this chart since last Friday. Starting from 0.8540 will trigger my short. However, there’s also a possibility of running into 86 level where another bearish harmonic setup is formed. In short, currently, I am looking at the zone that contains confluence of bearish harmonic pattern, Fib levels and price resistance level.
Let’s see how it goes.
[tab: Original Setup 24 Jan 2011]
Here is the….CHART!
[tab: Update 25 Jan 2011]
After the weaker than expected British GDP data, EURGBP pierced through the reversal zone. The setup is now invalidated/failed/whatever you wanna call. Time to move on, and look for next opportunity.
Here is the updated… CHART!
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 weekly chart of $EURGBP. We have a pennant forming, with ABCD and Bullish Butterfly formations within. It is just so beautiful. I see two possibilities here. First, we might start to have correction right now with 88 level as immediate resistance. Second, we might have another leg and approach 89 nice to the top of the pennant. Personally, I prefer the second option. But it doesn’t mean I am jumping in to Long EURGBP now.
I will be watching closely in daily and lower time frames for any possible signs of weakness.
What do you think?
Here is the CHART!
