Technical Analysis; S/R, Trendlines, MA's, Useful Indicators and Price-patterns
aud/usd; price is trading on the last significant LH. What will be the reaction? Too early to say, of course, but it would be far from surprising to see a bounce here, IMO. Price have fallen close to 2k pips without any big retrace.
The momentum-indicator shows a level who hasn't been seen since 2001.
well, that's what he said.
I believe it's going to head up for a while...
It's kind of confusing though, aint it?
I feel the same as you on aussie, but anyhow, monthly tells me a different story. Although I don't trade from monthly itself, it's good practice. And I see the main move is down.
So, I'll ask him...
Better ask the reasons why, than to ignore them.
Wouldn't you agree?
JP.
Absolutely.
We need to remember that monthly and daily chart is very different. It can tell two different stories.
That's why I still stay along here at FF. Debating different theory's. But in the end, be sure you base any trade on your own analyzes
Originally Posted by Igrok
It seems that about a thousand-pips bounce is very likely to occur rather soon (from about current levels +- another 150-200 pips)on all the majors and likely on the JPY crosses as well. EUR/JPY might target as high as 159.00 - 163.00 level again.
Originally Posted by Jupiter_Peak
"I probably "see" what you mean.
FIber (EURUSD), is lacking a second LH in order for another trendline to be drawn so we can complete a triangle thus creating a diamond.
You once told me that USDx are almost Inversely co-related. With a better live feed, I was able to see resistance @~81.01. Most probably, this resistance will hold price for a while. Looks like USDx is endorsing a very diamond-likely formation to me as well.
All majors have formed diamond like pictures.
This would make sense to me because EURUSD is the last of all majors to be forming a diamond since it has such a recent history if compared to the other majors.
Now, it seems as if we have a trendline @ ~1.3879. Looks to me that if we get a 1000 pip bounce the LH would create a very acute angle and create a very odd (not very symetrical diamond). Maybe a bigger bounce up?
As a conclusion: as USDx will get "hold" for a while, so should al the majors and geppy+EJ.
Are my assumptions right?
I send a chart with a "proposed" bounce that would illustrate my thoughts and observations.
I also send a chart of USDx.
All he best and hoping to be making some progress,
JP."
Well,
This is the following analysis that I have submited to Igrok:
This is my theory backes by TA charts.
Lets see what the answer will be. As I pretend some day to become a "heavy" player at this business, I might as well undestand what these GREAT traders have to say.
Lets see what comes up.
Cheers,
JP.
It looks like the usd is going to get heavily sold on most pairs, short-term at least. My first position will be on eur/usd if we close 0.5 % above daily TL marked with the blue short line;
I am eager to read your new thread, and get caught up with your methods.
With the help of my man Belekas,
4H divergence on cable. Target @ ~1.8790.
Seems we need another confirmation from another TF.
Cheers,
JP.
I see bullish divergence on the dayly CCI30 as well, target - the same @ ~1.8790, high of 08.22nd. 4hr candle penetrated the descending 4hr channels UTL, and ran about 50 pips from it, but theres still 15mins till the 4hr candle closes. I will be buying breakout as theres many things pointing to the large correction. Lets see if we get UTL retest or we go straight northside.
Its nothing mate
Also im seying bullish divergences on mostly all majors on 4hr timeframes and also on the daylies, and ive seen some weekly ones as well.
cheers!
