Long Term Trend Charts

When it comes to trend trading, it is the longer term trend charts which define the direction and possible targets.

I have been trading forex for over 18 months now, and being an ex Systems Analyst (Airtel, India) always tried finding better and simpler ways of reading chart trends.

Worst case, being the laziest person, I also try to automate everything. [One of the best examples of the laziest programmers is the Google.com site which has just 1 search box, unlike yahoo or msn which have loaded their home page, no wonder Google is the best.]


In the current thread I will be discussing long term trends with possible target expectations.

1. GBPUSD is currently in a strong downtrend with possible expectations of 9200 levels.
2. We were waiting for a break of the previous year 2007's 23.6% fib level of 9651 which broke today.
3. So the next resistance comes at the 5 march 2007 low of 9184.

***edited to add

1. A break of the yearly level at 9821 would be required if it would like to form an uptrend.
2. Max downtrend during 2008 if it happens will be 1597 pips below the Yearly level at 8224.

1. Monthly chart for GBPUSD with yearly fib levels.

1. 4 year Sterling Shorts Chart.

One of my views.

well I am short on GBPUSD for 9200, short on GBPJPY for 212 and Long on USDCAD for 1.0130

and my total margin used is just 5%

Sounds about right in this market.
I concur fully re cable I got in as the fib [email protected] and geppy 214.50 mouteki short not on loonie myself.
That was my white marble above.

Enjoying your presentation.
Swami S

1. I wanted to analyze USDCAD and was wondering what to use, lean hogs/feeder cattle/frog legs/frozen pork bellies.
2. Oh well I am amazed by the range of stuff traded in the futures markets, the day will come when cats and dogs futures also come up.

1. Anyways lets start with weekly crude oil for 4 years, a somewhat developing dip on weekly charts here.

1. USDCAD Weekly chart trend points towards 1.0466 subject to break of 1.0133
2. I went long at 1.0022 and am still holding my long position.

1. Canadian dollar globex chart, monthly for 4 year data.

1. One thng which has really amazed me is the ease of earning profits using long term trend charts.
2. I simply do not have to bother for any news events.
3. I do check 4 hour charts for confirmation before taking any trades.
4. Almost all news events simply fall in line with the trend charts.
5. The major factor for the dollar strength came from the sudden surge in the New Home Sales data.
6. This is a factor for consideration every Christmas, subject to market conditions.

Hi FxLion,
Could You share the buyer & seller volume like in Your Chart.

Thank's and best regards.