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LinkBack (42) | Thread Tools | Display Modes |
10-14-2007, 10:26 AM
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Hi,
Last week was not an interestig week for Cable and EUR.  Cable: Based on the weekly chart the RSI is still within a tradeable range but so far the bullish direction of cable is in doubt now. The trend does not has any momentum to carry on in the north direction. It is really difficult to judge the direction now. In addition, I have also shown a 30 years seasonal chart for your reference, based on this chart the cable should be more prompt to downtrend during the Oct period, so trader must be very cautious to the market next week.  EUR : The direction of the EUR in the weekly chart is still in the upside but it ended up with a doji bar after a week of movement. More setup is needed to identify the trend. As mentioned earlier on, there could be a sign of retracement on the EUR, so this pair should be traded with cautious. JPY: So far, after the breakout this pair is still on the north direction with some sign of slowly down. The RSI is still in the trading range. AUD: Though the trend is still bullish, the weekly chart of Aussie has shown a slowing down of momentum with RSI just touches the 70 level. Good trading to all!     
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10-20-2007, 10:52 AM
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The market this week
Hi,
JPY: As mentioned, the yen has some sign of slowly down in the market. This situation was further confirmed by the market last week. Whereby we see a 5 days consecrative low of Yen. If you refer to the weekly chart, the Yen fall after the fib reached fib 50%. The price fal through many important support and now landed around 114.50. If you draw the fib. on the daily chart as shown, the next important support shall be 114.00 at the fib 68% level. The RSI shown below indicates that there is still possible room for the Yen to move down further. GBP: The Cable still cannot clearly breaks through the choppy range as shown in the daily chart. Unless there is a daily bar stays above the upper range, the market will still be undecisive. Therefore, this pair would be an interesting pair to look at early next week!!! EUR: The price action for this pair is interesting, the Price continue to made northward move but ended up with an evening star or tower top. Under this circumstances, the EUR might need to made a correction in the southward direction. The RSI for daily and weekly shows the EUR has been overbought. Thereofre, trader might requires more criteria for confirmation. Please refer to the daily chart for EUR below. AUD: This pair has encounter a lot of resistance in the upward direction, one could identify it "tiredness" by the price bar when it get shorter and shorter. Last week was a complete fall on the price bar. This could be the beginning of price retracement. The price action for last week shows that next few weeks could be a good time period for intra and short term trading.  .Last edited by yyc196; 10-20-2007 at 10:56 AM.
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10-22-2007, 05:03 PM
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EUR and CABLE
Hi All,
There is a big move on EUR and CABLE today, as mentioned earlier I saw a evening star on the daily chart and cable is still quite choppy. By today price action, i can see that the price will be up and down for the next 3 days or so. So for intraday and short term trader take care. For scapler, there may be good chance for you. Good Trading to ALL!!! As I said this week is interesting. 
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10-27-2007, 09:07 AM
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Hi,
Last week was interesting, we saw the candle stick on EUR forming an evening star on Friday and follow after that we have a down fall of EUR. Thereafter, for the next four days the market recovers and shoot upward. Based on the candles setup, the bullish trend remain strong, if you refer to the weekly chart we have a hammer and the RSI shows an overbought level above 70. We need the price to break through 1.4545, this figure is important becuase this is the highest since 1995. if the price exceed this level I am confident that the trend will continue further up. Cable: This pair has price itself above the range as indicated but with two very short bars on the daily chart implying that the market is still not ready to move upward yet. Nevertheless, this pair is still in the bullish market. RSI is still within comfortaable for further uptrend. Swissy: This pair ended up with a doji star on the weekly chart. As shown n the chart, if the price is able to penetrate the lower part of the channel then a clear bearish signal will be given. So we still need one more week to see the direction for this pair. Regards Last edited by yyc196; 10-27-2007 at 10:03 AM.
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10-29-2007, 06:32 AM
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Dollar Yen (Doppy)
Hi,
Please find attached the 4 hours chart for dollar yen below, we see another closing wedge forming, the price keeps narrowing down to a smaller range looking for an opportunity to breaks through the trend line. I see a strong resistance at 114.523, 115.02 and support at 113.81, 113.25. Out of this value given, I find the support at 113.25 is the most significant one. I will not determine the direction now because the RSI level at 14 is floating at 50 level. Further setup is required on this pair. If you want a "Hurray" breakout on this pair, you need to watch it closely with the ADX signal and RSI I mentioned in the previous post.  Regards Last edited by yyc196; 10-29-2007 at 06:37 AM.
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11-03-2007, 08:55 AM
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Hi All,
The market last week was an interesting one, exceall market seem to be performing in one way or another: AUD and CAD: Both pairs are looking good at the moment with no significant sign of slowing down. AUD is climbing up and CAD still bearish down by the weak USD. Cable: This pair continue to bull up by the weak weak US dollar. The RSI for this pair had finally hit the 70 level but the trend is still strong. The weekly chart shows a doji by an up bar signify that the bullish may had more upside room to go. EUR: The RSI for this pair had been hanging around the 70 level for many weeks and yet no sign for retracement. It has hit many important resistance and heading further. The daily chart shows an engulfing bar setup which signify that the market may want to go further up. CHF: This pair has been a good pari for scalping for a long period of time. Based on the weekly chart this pair still remain downside waiting for further setup to confirm it direction. Yen: This is another interesting pair, the closing wedge pattern in the weekly chart is setting up waiting for new direction to move. This shall be another good pair for scalping. Good Trading to all! Regards
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11-10-2007, 06:06 AM
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Intraday Method
Hi All,
This week i have programmed a set of indicators for intraday market. I will use them in conjunction with the weekly analsis to trade. I will see how well this method perform.  King and the 3 Musketeers System (K3M) Regards Last edited by yyc196; 11-22-2007 at 10:15 AM.
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11-11-2007, 06:40 AM
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CHF and YEN
Hi,
Last week we have two closing wedge breakout, turning into the bear side of the market. CHF: The weekly chart of CHF shows that the market is not able to hold the weak US dollar anymore and go further down. However, looking at the RSI of the weekly and daily chart the signal had cross the 30 level, this may imply that some retracement could occurs before making further down. YEN: The weekly and daily chart also shows the breakout of the closing wedge patterns, the only different is that the weekly RSI had not yet cross the 30 level. For GBP and EUR the trend continue to be strong with no sign of retracement. Good Trading for the coming week.  Last edited by yyc196; 11-22-2007 at 10:16 AM.
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11-17-2007, 05:09 AM
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Market next week
Hi All,
Cable: When I switch to the weekly chart this morning on the Cable, I noticed a very obvious morning star setup. Look at the doji and the down bar, and the RSI pointing downside, be prepared for a bearish market or a choppy market. Upside trend is unlikely to me. I draw a fib. line on the daily chart, the price had now drop to the 50% level, traders must wait for a clear setup for further direction. EUR - Similar situation occurs on the EUR also, the price on the weekly chart ended up with a doji and RSI is as usual overshoot, we shall wait and see how the market goes. The price action keep trying around 1.4752, may also imply that the resistance is very strong in this region. CHF - The weekly chart had a hammer bar on it and the RSI shows oversold sign. The daily chart shows a very undecisive price action, so this may imply that trend will change. I shall try to update the market after monday! Good trade everybody!!!
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