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LinkBack (42) | Thread Tools | Display Modes |
11-17-2007, 11:30 AM
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Thanks
Thanks for sharing.
    
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11-18-2007, 05:27 AM
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CAD and AUD
Hi,
CAD: A hammer follow by a up bar on the weekly chart had clearly shown that there could be a reversal trend following on next week. The RSI is for the weekly and daily chart is looking up. I also draw a fib. line on the daily chart (not shown) the revesal is not up till 50% yet, so there could be room to go further up. AUD: A tower Top was setup on the weekly chart of the AUD leaving two tails behind as their resistance (0.9381). The RSI was in the up side and the fib. has only reached 38.2%. There should be more room to go down further I think. with the setup last week, CAD and AUD shall be an interesting pairs to look at. Good trading ALL!!! Regards
__________________
http://pippingshek.blogspot.com/
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11-24-2007, 08:26 AM
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Weekly Update
Hi,
EUR - The market still continue to go up! Though the RSI is overbought on the weekly chart the market remain strong on the upside. There is a doji on the daily chart as shown so trader might need to take note on that or wait for clearer setup before trading this pair! GBP - Based on the daily chart the GBP had fallen to fib 50% and then retrace back. On Friday the price ended with a doji. The daily RSI is around 50, but there is no clear sign for me in this case. CHF - The market continue to fall from the closing wedge, the RSI for weekly and daily chart is over sold. One things need to take note is the doji on the daily chart on Friday as shown. AUD - As speculated, this pair continue to fall, there is still no sign of retracement yet, the fib still did not reach 50%. The RSI is around 53 on the weekly chart as shown. CAD - Similar to AUD, this pair continue to rise. the fib had reached 50% but the RSI is remain at 39. One important things to note is that the weekly chart had a large gap, I am not sure how are other charts from other broker look like. However, if this is true then the market seem to be very bullish to me. But I would like to see if fib 50 and 61.8% can be crossed!
__________________
http://pippingshek.blogspot.com/
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11-26-2007, 08:21 PM
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Hi,yyc196!
For successful and stable earning funds at the at the forex market, a trader needs to define sections of the fault free opening and closing of deals. It is well known that it is trend, which is the main and the most optimal section. This is why meaning of the question on definition of trend shall be PRIMARY for a forex trader. Do you agree with me? Which are your criteria for defining a trend?
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In advance thanks, Edwards.
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12-01-2007, 11:04 AM
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GBP - The market last week made a up move in the beginning but when it touches the 61.8% is turned down on Thurday and Friday. However, it is very difficult to clnclude that downtrend is coming because the weekly chart still shows a strong uptrend market.
CHF - Based on the daily chart as shown, the retracement may still go on to fib 50 or 61.8%. the market is facing a strong resistance at 1.1395. AUD - This market falls within the rnage of 23.6 and 38.2%. Unless a clear price penetration be shown on either side of the range it is very difficult to trade this pair. CAD - The market had reached fib 50% as shown in the weekly chart. The price action had reached a critical stage. If the market continue to go up, there is a strong resistance at 1.0169 (61.8% fib). The RSI level is around 37 and currently there is no significant support to take note yet.
__________________
http://pippingshek.blogspot.com/
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12-01-2007, 12:00 PM
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How are you drawing fibs
How are you drawing your fibs, are these daily high low, or recent wave
are you using an indicator Quote:
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12-02-2007, 04:06 AM
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Charting
Hi,
Some people have been asking what are the criteria of defining a trend and how to draw fib (based on what). As shown in the weekly analysis, the chart is the best explanation I think. Indicators can be used to help your analysis however trading is an art not a science. Very difficult to define I'm afraid. shek 
__________________
http://pippingshek.blogspot.com/
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12-08-2007, 07:23 AM
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GBP: The pound was a bearish market last week, the price stop at near fib 61.8%. At this critical point, it might be better to wait and see what this market decide to do early next week. The RSI is around 50 level.
EUR: The overall trend in the weekly chart still exhibit a very strong bullish trend. There is an interesting setup as shown in the weekly chart, there are two doji (arrow indicated), one up and one down bar. This setup look bearish to me. The RSI is above 70 level. CAD: As speculated, the market shoot above the fib 50% and now stopped at 61.8% with a hammer bar. Under such a circumstances, the fib 61.8% become a very strong resistance now. The price bar are getting shorter and shorter indicating that the market is weak in the uptrend. There could be a bearish move follow after this setup.
__________________
http://pippingshek.blogspot.com/
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10-30-2008, 02:55 AM
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Quote:
May i visit your blog? I hope to get more help.
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