Well Nostradamus did so i thought i'd give it a try using a number of techiquices in my aresenal
1. Elliot wave
2. Harmonics
3. Poseidon (Andrews Pichfork )
4 Trendline
Daily Chart
Hourly Chart below
1. Elliot wave
2. Harmonics
3. Poseidon (Andrews Pichfork )
4 Trendline
Daily Chart
We have a Powerful candle stick pattern on the daily called an ‘Evening star ‘
I do not expect prices to close beyond this point.
However, pls notice that prices are in the top half of the Bollinger bands. Informing as that we are still positive
So in effect we should have a rally up to 1.3740 and we might even see a spike up to complete wave 5 where wave 5 could extend to 1.4000 and 1.415 which is 161.8 projection from the abc low @ 1.29 to 1.34 then back dwn to 1.25 giving us the highs from the 5/11/2010 @ 1.43
However I will not begin to short this currency until I have a full body break below the trend line confirming the southward move. So until then I will be buying dips on the hourly time frame up to 1.3740/50
Transfering the daily count to the
Hourly Chart below
As we can see we can count a 5 wave decline down from 1.39 to 1.35 where we have and Morning Star on the hourly.
Looking for a break out side the Poseidon trend line and and hold on the upper side of the Bollinger Bands
We will countinue to track price movement needing it to rally up to 1.3660/70 which is the 38.2% retracement from the highs. The prices should back off of the Resistance area and hold 1.3600 should this happen i would like prices to be on the up half of the Bollinger bands holding the 1.3600 area then we have a confirmed play and where in. Target1 @ 1.3700 i will exit and watch to see if prices will extend.
Good Luck :-)
Good Luck :-)
Todays Trade:
ReplyDeleteEurAud opened up just below 90ema 1.3685 Bullish looking for resistance at 1.3711 Entered the market Bearish at 1.3713 M1 looking for 1.3697 on M5 55ema take first profit. 2nd profit will be at 1.3678 bottom BB M15...watch this space... 'Neo'
WHAT IM WATCHING:
ReplyDeleteUSD-CAD BEARISH - RESISTANCE OF 8DENMA 0.9780 (BUY BOTTOMS) LOOKING FOR BREAK TO 0.811
GBP-JPY BEARISH - DAILY NEEDS TO BREAK 8 DAY BULLISH 130.74 TO 131.34 90DEMA H4 (BUY BOTTOMS)
EUR-GBP BULLISH - VERY BULLISH POSSIABLE REVERSE TREND BELOW 0.8803 STRONG BULLISH 0.8813 BREAK OF HIGH (BUY BOTTOMS)STRONG WEEKLY TREND
AUD-USD BEARISH - TO TOUCH 8 DAY DAILY BREAK BELOW 1.0222 CONTINUE TREND ABOVE 1.302
GBP-USD BEARISH - BELOW 90DEMA 1.6009 8DAY PRICE ON h4 BEARISH ALL TIME FRAMES (SELL TOPS) LOOKING FOR BREAK
EUR-USD BULLISH - LOOKING TO BREAK RESISTANCE 8DEMA DAILY 1.4083 (BUY BOTTOMS) LOOKING FOR BREAK
EUR-AUD BEARISH - BROKEN 55DEMA 1.3712 HEADDING 1.3797 200DEMA H4
'NEO'
USD-CAD BEARISH - RESISTANCE OF 8DEMA 0.9780 (BUY BOTTOMS) LOOKING FOR BREAK TO PREVIOUS HIGH 0.9893
ReplyDeleteAUD-USD BEARISH - 1.0235 POSSIBLY TO TOUCH 8 DAY DAILY 1.0222 OR CONTINUE TREND ABOVE 1.0302 WAITING FOR BREAK
SORRY...'NEO'
WATCHING THIS!!
ReplyDeleteStrategy: Pending Short
NZDUSD has put in a bearish Harami candlestick pattern below resistance at 0.7551, the 61.8% Fibonacci retracement of the 2/2-3/17 decline. We will look for confirmation on a bearish close to the current candle that ideally takes prices below the 50% Fib at 0.7466 to re-enter short after last weeks short. 'neo'
Wow!!! Is this Really You Neo!!! I knew you where out there somewhere!!! I Believe
ReplyDeleteThe NZDUSD has met resistance from the 61.8% retracement of the decline from 7824 and 2/28 high. I maintain that the larger trend is down but the next several weeks should present trade opportunities from both sides. Near term, the rally from 7114 is in 5 waves (like the AUDUSD) so expectations are for weakness down to at least 7375 (former 4th wave extreme). Interim support is at 7446. Additional strength would shift focus to 7640. 'Neo'
ReplyDeleteThe USDJPY rally from the low is now in 5 waves, which makes it highly likely that a longer standing low is in place at the mid March panic decline low. Given the 5 wave rally, expectations are now for a corrective decline towards 8050. 'Neo'
ReplyDeleteThe USDCHF continues to hold above last week’s low and price has exceeded former support at 9200. The extent of the USDCHF rally in both price and time requires that we more seriously consider the upside. I’ve laid out a short term possibility on the chart above. Exceeding 9233 would compose 5 waves from 8977 (wave iii of 3) and give scope to consolidation / pullback in wave iv of 3. Resistance following 9233 is 9270 (former support) 'Neo'
ReplyDeleteThe decline from Monday’s high is the largest for the AUDUSD since the pair embarked on its relentless advance from 9703. Additional weakness would see support from 10182 (100% extension) 10125 (former resistance and 161.8% extension) and then 10040/65 (261.8% extension and former support). Until an impulsive decline is visible from the high, I am not comfortable with the short side. Upside objectives in the event of a new high are 10400 and 10500. 'Neo'
ReplyDeleteThe sharp decline from 16400 is probably the beginning of larger wave D of the triangle that began at the 2009 low. A corrective advance is expected this week (and perhaps underway as the GBPUSD has stabilized) and initial resistance is 16090-16113 (former congestion low and 38.2% retracement). Notice how the Fibonacci levels (38.2%, 50%, and 61.8%) line up with chart resistance – thus reinforcing interest in respective areas. 'Neo'
ReplyDeleteTrendline support continues to hold in the EURUSD and drop below 14020 (Monday low) in order to facilitate a break. To repeat recent observations – “a above 14282 would shift focus to 14360 (61.8% extension of rally from 11875) and 14413 (100% extension of 12873-13855 rally).” Clearly, the longer the EURUSD remains below its November high, the more likely it is that a high is in place. There is in fact RSI divergence present on the weekly. Remember, RSI is calculated using closing prices and last week’s close was above that of the November close. The RSI reading did not confirm the higher close. This subtlety is worthy of consideration. 'Neo'
ReplyDeleteFXstreet.com (Córdoba) – The USD/JPY rose to 82.46 before Wall Street opening and reached the highest price since March 14. Afterwards retreated but managed to hold above 82.20 and currently is trading on top of 82.30, more than 60 pips above today’s opening price.
ReplyDeleteGreenback is headed toward the third daily gain in a row and has risen 150 pips since last Friday, approaching to levels the pair had before the earthquake that shook Japan.
“Near-term studies are positive, but overbought on 1 and 4-hour charts, suggesting corrective pullback ahead of fresh push higher. 82.00 offers initial support, while 81.50 underpins”, said Slobodan Drvenica from Windsor Brokers Ltd.
The Yen is the worst performer among mayors so far on Tuesday and is posting considerably losses across the board, trading at weekly lows against several currencies. 'Neo'
The GBP/CHF pair has continued in its long-term depreciating trend since 2009, with significant follow-through occurring in 2010 and well into the first few months of 2011. The pair touched its range top as recently as the middle of February, and completed the most recent impulse wave down in its channel, erasing all of the gains the GBP/CHF pair had seen in 2011 in the process. In February, the pair touched as high as 1.5700 before hitting a low near 1.4273 in the middle of March. It was noted in early March that a smaller, ascending sub-channel had emerged over the past three-months, and while the pair did appreciate, it was unable to breakthrough significant Fibonacci resistance expressed in longer-term trends. At the last time the GBP/CHF pair was discussed, I noted that “With the short-term technical indicators tailing off Pound-favor, the GBP/CHF pair has been unable to follow through on its double-bottom pattern.” I further suggested that “A break below the 38.2 Fibo exposes 1.4900, a significant level of psychological resistance which the pair was unable to break on three distinct attempts this year so far. Should the pair break this, the next target is the 23.6 Fibo, and then the yearly low set on the first trading day of 2011. With the Slow Stochastic oscillator on the 6-hour chart having recently issued a sell signal, as well as the MACD Histogram differential tailing off of its bullish divergence, our bias remains to the downside.” The trade, as recommended, resulted in a 621-pip gain. Now, with the pair hovering above its range bottom, another swing trading opportunity has emerged for traders to collect profits. 'Neo'
ReplyDelete