Nearly Naked (Simple Trades)

Target

I sure hope so...that would be a pretty sight!

Hi Saxon,
After some days off (to concentrate on the WorldCup ) I am back to the charts now.
Did try some Long on UCHF earlier from weekly S1 (1.0486) But with yesterdays crazy PA it hit my trailing stop for some pips only

Got another one @ 1.05 now.( I just have to give that level a try)
- Strong and long time area of S/R
Didn't find too much confluence with some fibs but nevertheless worth a try

We already closed above the H4 UTL of the recent downmove.
I also think we have some room up for a correction here.
Current Level (1.058 = S>R) needs to be taken out now.

Target then would be the broken LTL of the upmove.
Depends on how fast we rally up now (if we do) a retest of this line could be around 1.088-1.09 (where we also had an area of resistance back in Feb)
So this would be around 400pips.

But not gonna trail my stop too quick this time.
Lookin back at the previos tops/bottoms on the daily it seems that Swissy likes to test a S/R for a few times before turning finally.
So lets see.
(Hope you are in the boat as well now. +82 so far)

A/U. Interesting consolidation day on A/U. For a few minutes there was a breakout of the triangle pattern on the M15 for a few minutes near the end of the session. On my H4 chart I still see more upside...because I don't see how price will turn around with such a profound barrier at 8780 area. It just looks prime to be broken. At that point I will look for a nice bearish doji candle on the H4 - H1 charts.

I'm seeing about a 50/50 split between bears and bulls right now on U.S. equities. The bears say we are going to surpass the 1040 on the SPX to the downside and the bulls see nothing but slooow movement up. Who knows??? Using my Daily charts I'm not ready to start buying equities for the long term as the 200sma needs to be broken and retested first. I guess earnings starting next week will set us on one road or another.

Anyone have any COT analysis for A/U?

AUD is very likely to give .9000 another nudge.

76.4 fib at .8950 or so and very strong support from the 200ema

More importantly, EUR/AUD is selling off again hard, having just broken the 50% retrace heading south, think this is likely to continue providing strong support for AUD

Hi everybody. I've been reading FF for a while (more than 2 years at least) and learn very importants things. I'm an amateur trader, I mean i have a full job but I've been studying the forex market about 2 years and a half.

By chance (or maybe It was a boring day) I started to read about some kind of pattern that human beeing have, It was an study about how people make their important decissions at job (not with their own money). The psico-study talked at some point about financial markets, and that was the beggining.

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e) Some computer's program (like MSA, meta4 even create ea...)

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One on a week I look some funny videos with my daughter, after this I show her a graph of the pair EUR/USD and explain her that It's a snake. I draw 3 directions and ask her what is going to do the snake.

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See you

Nice intro welcome to the thread

Bears in control?

I'm newer to forex and don't understand all the lingo, but I trade the stock market using EWT along with indicators. AUD/JPY has about a 95% correlation to the SP500 which I think will continue to hold. I put together a market forecast with price targets and target dates (not exact, but within a few points and 1 week for now). You guys may be interested. Thanks

Thought I would put in my last forecast and results so you know I'm not crazy!

The triangle.

Nice charts! Welcome to the thread. I hope you visit here often with your thoughts.

A/U COT

Geno, I like your expanding diagonal triangle forecast pattern... have a look at the A/U daily chart which is also very much correlated to the SP500. I play mainly with the MA's and S/R's but it's hard not to take notice of patterns like this when they appear! Cheers.

I love this chart! have you already entered into a longer term short? Although I don't like intra-day trading this pair I have been looking for the right moment to enter a long-term short myself. hmmm

The retracement should be nearing completetion.

The candle pattern might be construed as a 2bar reversal. I have not entered short on this pair, usually one could enter at 23.6 or 38.2 of the daily candle. I could put a small position on.......

Personally, I am going to focus on scalping 10 to 20 through the summer months.

http://i25.tinypic.com/xof7na.png

Daily chart is showing overhead resistance in AUD/JPY

Why thank you