Charts Observations

we used to scan the charts and look for any formation, price action, trend breaking , ....etc

and because everyone can see the chart from a different view so I see we can contribute here and post our observations

I used to do this alone and write notes in my notebook and I think every trader do that so why we cant do it here to build a major long/short term view !!

I will begin and please correct me if I'm wrong in anything

so please contribute and post your view , I wont do this alone and will return to my notebook again

EURGBP - Monthly Chart,

currently price 0.6735

May be there are:
-descending triangle::tech Object if broken @0.7520 area
-H&S forming the last shoulder::tech Object if done & broken @ 0.8540 area
-Round Bottom (that include the H&S)
-current bar forming a Doji
-Diamond formation
-ABCD if it right then TP1 will be @ 0.8233

chart attached

correct me if anything is wrong and add if you see something else

EURGBP - Weekly Chart

may be there are:

-currently in downtrend and if breached then first resist 0.7
-descending triangle
-price under 200 MA
-the last bar is PB/hammer bounced from 0.6701 which is the 50% of the last swing (0.6535-0.6866)
-bullish divergence

Chart attached

EURGBP - Daily

may be there:

-currently in downtrend
-falling wedge after uptrend::if broken it's target aprox @ 0.6890
-H&S formation::with target down aprox @ 0.6543
-WRB after bullish engulfing
-Bullish divergence
-price aboce 61.8 of the last down swing
-flat 200EMA above the price

Chart attached

No guarantees, I have 0 clue about EW.

Current direction remains up until sideway channel is lost downwards. Expecting a break into blue marked area. Fib extensions 127.2% - 161.8% of wave 4 would line up perfectly with prior sr so this view is favored. Obviously if 0.6465 goes then we've got a channel loss / range breakout on our hands.

Not that I really care, since I don't really trade this pair and the long I have on is tiiiiiiiiiiiiiiiiiiny =)

Not meant as a trading recommendation, just a hobby chart I just made since I felt the itch when looking at it.

Thank you seeking

good view as usual
I'm always appreciate your posts and have alot of them as pdf on my computer for reference (I know the rights reserved but forgive me )

I've a long in it also @ 698 and lets see what will happen

please don't hesitate to post anytime you itched

Now lets see another pair

what you think about UJ

Now another pair

Chart 1

-a trendline breached and first target is the next uptrend line aprox @ 115.85 area

Now funny one:
-if we consider this a rising wedge (between the two red bold lines), then we dont need to wait for break cause prices breaked it and closed below it and it's target is far away @ 108 area

-last bar closed @ 38.2 of the last swing

-last bar is high wave bar that means that the current trend losing it's strenght or facing significant support area

-prices under rising 200 MA





Chart 2

-if you're using pitchfork like me then look at this
-the old PF from 2004 (the blue bold, and dotted warning lines) works well until now
1.it's median line resist the price and force it to fall to the lower median line
2.prices breached the lower median line with a good gap
3.the lower median line and the first warning line acts like a rising channel
4.first warning line breached and acts as a channel with the second warning line

-now the second median line breached and tested and theoretically the price will go to the third median line with max lower @ 114




Chart 3

NOW if we draw another PF after price resisted from the median line of the blue PF we found it a falling PF that also have good view

-it's upper warning line and upper median line acts as a good falling channel

-and now prices resting at this bold red line(upper median line)
and theoretically if it breached then it will go to the next red dotted line which has a confluence are at 113.80

I know you laughing now
so after laughing, look at the charts and tell me what you think??

Weekly Bearish engulfing

price under 61.8 of the last swing

target lower median line of the PF (Bold blue)
Bearish divergence


Chart

may be we going to 100/130 area

Chart

the red lines are possible targets

Chart

Daily Chart View, Possible targets are highlighted

Your first USD/JPY chart is perfect for me !! It is same chart I have made on my own, and my profit target is the trend line !!! I am glad somebody else is thinking like me.

I am glad you made this thread !!! Hopefully we can keep it uncluttered with all the talk nonsense... !!!

I agree with weekly BEOB... actually on lots of pairs ending this week...

Also I point out, though yes I know it is two days early, but hopefully coming up on a big monthly Pin Bar for AUD/USD... chart in next post.

Possible monthly Pin Bar coming up...

It can go either way since it is on the 61 fib line.. and it already went down projected (about 300 pips down).

I am bulish for about 100 pips..with tight stop ofcourse incase it goes further down (lower than last weeks support).

do not forget also , carry trade applies and so there will be buyers.

Oil going up so should usd against yen who will import oil and has to pay high dolla


though dollar is going down aginst pound and euro... it wont fot now.

again, tight SL...since i could be wrong

I agree with you about price may go up first... but over all, for a little while longer, I think prices would still soon come down to my target level. I know it sounds dumb, but a train donesn't just stop on a dime... and the train has gotten going over the past week or so...

Also, I compare to the drop earlier this year... I know it may not be the same kind of move... but it sure looks like it on the charts, and as I look back over charts in so many pairs... it is amazing the patterns that repeat over and over again... ( GBP/USD daily for example )

OK, we stopped on a fib line... and you are right about maybe back u p a bit... but for me anyways... I have stopped trying to make pips on 5 min charts or even 15 min... I rarely anymore look at the 1 hour charts... I stay daily and above... so up a bit first is fine with me... That is a VERY big bearish weekly bar... price for the week retraced to the fib line... and generally on BEB price will retest the low...

Don't pay too much attention to me, I probably am the least qualified to be posting anything !!!

Thank you Tiki for you posts and for the Aussie chart, I forget to look at it, and this is what I talk about in the first post the Mutual cooperation

anybody see something at any chart tell the others here
I'm glad too to see other with the same view, that's makes me confidence, thank you

and yes pipology you may be right, cause we speak about probability not a definite thing so keep the good work

anybody see anything at the CAD charts !!

Monthly Chart:
-contain great bullish divergence with target aprox @ 1.3290
-current bar forming PB/hammer

Weekly chart attached and contain an interesting formation and last bar is bullish engulfing



Daily Chart attached with my old PF and after it's broken it's upper median line and first warning line acts as good channel

one chart

another chart

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