GBP/CHF, follow up, After finding strong resistance @1.5644, Gbp/Chf retrace back to support and sky rocket another 200 pips, 8H chart attached
- #504
- Oct 28, 2010 9:28am Oct 28, 2010 9:28am
- | Commercial User | Joined Jan 2010 | 5,509 Posts
After breaking 1.3976,1.3775 Euro find support at 1.3732 next level, retrace back up and close above 1.3775 to find resistance at the next new level 1.3897 and fighting now, keep your eye on this area now, you know what to do after.
- #505
- Oct 28, 2010 9:56am Oct 28, 2010 9:56am
- | Commercial User | Joined Jan 2010 | 5,509 Posts
Aud/Usd, Close under .9771 and find support at the next level .9678 and bounce back to the next level and staying there, we have three area to watch now .9771., .9798 and .9810 strong resistance now. down move under .9771, up move above .9810. We still inside the A B up move A =.9541 B= .9917.we at .618 retracemnt and holding. Level By Level.
- #506
- Oct 28, 2010 10:19am Oct 28, 2010 10:19am
- | Commercial User | Joined Jan 2010 | 5,509 Posts
Finding support at 1.5777 and moving up to 1.5962 as of this writing,1.5947 must hold to continue the up move.
- #507
- Edited 12:38pm Oct 28, 2010 11:55am | Edited 12:38pm
- | Commercial User | Joined Jan 2010 | 5,509 Posts
EUR/USD level analysis
Weekly chart,
Main Swing A= 1.6037 B= 1.2328, C retracement between .618 and .786 =1.5143.
Sub swing A= 1.5143 b= 1.1875 trying to find direction between .618 and .786.
Look at the right side and the left side market by the yellow circle, and at the .50 retracement of the main swing. If we put the levels on you will we are at resistance point 1.3925 and fighting.
4H chart
After reaching 1.4157,now making lower high and higher lows in a form of triangle finding support at the bottom line and our support levels. The downside
move to 1.3300 or 1.3400 as some wrote will not take place until 1.3646 is taken out, on the way down Eur facing major support areas, 1.3891, 1.3861, 1.3775, 1.3732 and 1.3701. Trade carefully and protect yourself all the time. Level by Level. Some times I wounder
Weekly chart,
Main Swing A= 1.6037 B= 1.2328, C retracement between .618 and .786 =1.5143.
Sub swing A= 1.5143 b= 1.1875 trying to find direction between .618 and .786.
Look at the right side and the left side market by the yellow circle, and at the .50 retracement of the main swing. If we put the levels on you will we are at resistance point 1.3925 and fighting.
4H chart
After reaching 1.4157,now making lower high and higher lows in a form of triangle finding support at the bottom line and our support levels. The downside
move to 1.3300 or 1.3400 as some wrote will not take place until 1.3646 is taken out, on the way down Eur facing major support areas, 1.3891, 1.3861, 1.3775, 1.3732 and 1.3701. Trade carefully and protect yourself all the time. Level by Level. Some times I wounder
- #508
- Oct 28, 2010 1:50pm Oct 28, 2010 1:50pm
- | Commercial User | Joined Jan 2010 | 5,509 Posts
Monthly Chart. in a very strong uptrend, A= .6005 B= .9405 and C= .382 = .8065. Main support @ .9281
Weekly Chart.
since we reached 1.0002 looking to form a high, new week will start with a new swing we have to wait and see.
Daily Chart
- #509
- Oct 28, 2010 4:36pm Oct 28, 2010 4:36pm
- | Commercial User | Joined Jan 2010 | 5,509 Posts
Lets talk about Gbp/Usd from the big picture.
Monthly chart in a down trend A= 2.1160 B 1.3501 we are hovering under .382 retracement level and above.236. the goal here is to reach .382 @ 1.6432. So this week candle must close above 1.5997 a few pips away now.
Weekly chart
If the weekly chart close as it is now, this will confirm a top high @ 1.6106, a new small bullish swing and @ .618 of the down swing A= 1.7041 B= 1.4226.
Daily Chart
Moving nicely higher highs and higher lows, break the high come back an test, nothing wrong with that, that is the way we learn
Does this confuse you? it does not to me because we analyze the big picture and transfer the info to the smaller time frame. Now The magic words are Trade what you see, i give you the numbers.
Monthly chart in a down trend A= 2.1160 B 1.3501 we are hovering under .382 retracement level and above.236. the goal here is to reach .382 @ 1.6432. So this week candle must close above 1.5997 a few pips away now.
Weekly chart
If the weekly chart close as it is now, this will confirm a top high @ 1.6106, a new small bullish swing and @ .618 of the down swing A= 1.7041 B= 1.4226.
Daily Chart
Moving nicely higher highs and higher lows, break the high come back an test, nothing wrong with that, that is the way we learn
Does this confuse you? it does not to me because we analyze the big picture and transfer the info to the smaller time frame. Now The magic words are Trade what you see, i give you the numbers.
- #514
- Oct 29, 2010 9:23am Oct 29, 2010 9:23am
- | Commercial User | Joined Jan 2010 | 5,509 Posts
Amaaaaaaaaaaaaaaaaaaaaaa, i am just done with my other two trades, Gbp/Chf and Gbp/Usd , another beautiful day in trading dude, still a lot to capture I am very happy with what we got today 400 + .
happy weekend
happy weekend
i am profit taking at the month end this is the last day of the month happy trading gbp nzd already give me 80 pips
happy weekend keep piping
- #515
- Oct 29, 2010 10:30am Oct 29, 2010 10:30am
- | Commercial User | Joined Jan 2010 | 5,509 Posts
Long time ago Boy Gorge said, I tumble 4 you.
Now I am saying October 4 you, i give all the numbers, I hope you made it
I believe in Miracles, you sexy GBP
Lets talk about Gbp/Usd from the big picture.
Monthly chart in a down trend A= 2.1160 B 1.3501 we are hovering under .382 retracement level and above.236. the goal here is to reach .382 @ 1.6432. So this week candle must close above 1.5997 a few pips away now.
[size="4"]Weekly chart
If the weekly chart close as it is now, this will confirm a top high @ 1.6106, a new small bullish swing and @ .618 of the down swing A= 1.7041...
- #516
- Oct 29, 2010 12:18pm Oct 29, 2010 12:18pm
- | Commercial User | Joined Jan 2010 | 5,509 Posts
Aus/Usd, big picture analysis
Monthly chart very strong uptrend. take a look yourself and identify the major and minor support and resistance levels.Then transfer these levels to the smaller time frame. That is what we do daily at www.wtforex.com. ( what is the smaller time frame ( weekly, daily, 12H, 8H and 4H ), then you have to plan your trade and trade your plan, with one thing in mind, If the market price does A B C then the market price should do X Y Z, if the market does not do what it suppose to do, GET OUT.
Monthly chart very strong uptrend. take a look yourself and identify the major and minor support and resistance levels.Then transfer these levels to the smaller time frame. That is what we do daily at www.wtforex.com. ( what is the smaller time frame ( weekly, daily, 12H, 8H and 4H ), then you have to plan your trade and trade your plan, with one thing in mind, If the market price does A B C then the market price should do X Y Z, if the market does not do what it suppose to do, GET OUT.
- #517
- Edited 2:03pm Oct 29, 2010 12:55pm | Edited 2:03pm
- | Commercial User | Joined Jan 2010 | 5,509 Posts
Gbp/Chf Support and resistance
Successful traders understand the following.
1-All currencies are not created equal, some move faster than others.
2-Patterns and behavior reflects market fundamentals.
3-Knowing the personality of the currency pairs you trade will make it easy and help you in making your trading decisions.
4-Do not over react.
5-Follow the trend.
6-Do not guess when you trade, you must have your facts together.
7-Only take the trade you understand
8-Take your trade when it is in your favor
9-Make sure if you going with the trend or coming in on retracement.
10-Every trading session have different personality, you must know it.
- #520
- Oct 30, 2010 10:17am Oct 30, 2010 10:17am
- | Commercial User | Joined Jan 2010 | 5,509 Posts
Eur/Usd support and resistance
Well October is gone with its chaos, and November is here with new chaos, but the question is do we really know how to deal with all this chaos that we are faced with from month to month? Sure we do!!!!!!!!!!, now how do we do it?
Every month a new candle open, what is the high and low of the previous month? what is the open and close of the candle for the previous month?
Now that October candle has opened and closed, what was September open close high and low?
Now, what do we see in the weekly and the daily charts? Are we making higher highs and higher lows or lower highs and lower lows?
Are we going with the trend or are we in retracement mode?
Are you able to identify support and resistance levels from the larger time frames and able to transfer these levels to your smaller time frames and trade them profitably?
DO YOU SEE THE BIG PICTURE?
This is how we analyze the market at www.wtforex.com.