Chartist

Here I will post my charts and analysis. If you like it, great. If you don't, move on and stop wasting your time.

Constructive comments are encouraged, of course, but discouraging comments is a waste of everyone's time so just keep it to yourself.

I will be looking at the market as a whole, watching where money flows. I will be using traditional technical analysis mostly; S/R, S/D, TLs, fibs, pivots and price patterns.

I do not ignore fundamentals, news, ect... however I mostly focus on technicals.

My major lessons I have learned from starting this thread I will post back on here on this first page.

The situation with the EZ is all over the place at the moment. EUR has been priced down causing a down trend. In the larger picture I will start with some TLs.

The first chart shows a line that is very important at the moment. Second chart shows the other major TLs.

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The chart on the left is one I drew out a few weeks ago. The chart on the right is today. Price is moving into that demand zone carefully.

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EURUSD: This was a great technical breakout from the flag.

When the TL that used to be support becomes resistance the current support breaks. This setup coincided with a couple of other pair's setups also:

GBPUSD; price faked out of range and slammed down and through the range. GBP was the leading mover when then the rest of the pairs and equities followed. This screen was taken on fakeout.

AUDUSD; price broke out of range, hit UTL, 50 fib and former support/resistance.

USDCAD; touched LTL.

Equities were showing sign of a bear but I don'y post anything up about that.

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EURUSD: This is currently what I am looking at. New mid-term lines.

From consolidation legging into lower consolidation. I expect to see the same forming again.

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Congrats on your Journal mate
I can see your hard work truly

FX mate, nice to see you on here.

I am tempted to try out your trading method soon. I will post some results when I do

yes, good work continiue pilz

I am will always support you mate
I can see your true desire on trading

Gold is looking like it is not taking this EZ situation very well.

This 4yr trend looks like it is topping out. Gold looks like it has been correlated with EURUSD since EURUSD topped out in September.

Price has poked it's tail out of the LTL. Will it retrace back in? Will it break out and pull back? If gold continues to correlate with EURUSD it looks like it's up trend is over.

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Resistance becomes support? If today's candle closes as a bullish doji it could be a healthy sign.

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I must admit, I am looking for reasons for gold to reverse and get back inside one of those channels.

Looks like gold is following GPBUSD or visa-versa. The correlation is stronger than EURUSD.

Both GBPUSD and gold and entering demand.

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Gold Melting Down Again…

"Been a bit of a torrid last 24 hours for the Gold bulls with the shiny yellow stuff slipping again from o/n highs in Asia around 1561.50 to a recent low of 1534.50. There’s some tech support at the Sep 26 lows around 1533.20. Below that there’s supposed interest from Asian sovereign names ahead of the psychological 1500 level.

Word on the street is that fund liquidations have been the major catalyst for the recent falls..
Silver’s not enjoying this either, falling to fresh 3 month lows of 26.72 with next major tech support down at 26.10 (Sep 26 lows)
UPDATE: Gold slips down through the 1533 support to 1524.70 in last few mins."

Some of the pairs are respecting the pivots. More often than not equities respect their pivots more than currency pairs.

This is just a piece of the puzzle.

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This is my first time analysing the correlation graphs at Forex Ticket.

It looks as if the most and consistent correlated pairs are GBPUSD, USDCHF and EURJPY with the EURUSD.

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This is what I am looking at. The LTL has been respected although I cannot say for any amount of certainty that it will continue to be respected.

I have been looking at USD chart. So clean, like looking at a renko chart. On daily it is forming a wedge. H4, nearing supply.

ADD: ahaha, steady as she goes. EUR is sliding away nice a slowly on 4H. Bottom chart.

http://www.forexfactory.com/attachme...6&d=1325169392

http://www.forexfactory.com/attachme...1&d=1325169617

If I am reading this properly, this shows the money flow between the currencies... not the currency pairs. I am focusing on the drop of yesterday.

In overview, this looks like there was a huge amount of buying of dollars and yen and selling of pound.

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nice thread ty wil subscribe

Cheers Buma

Following off from my previous post; I have not noted down the % change of yesterday's movement on each currency but it's graphically clear what currency was most bought or sold. USD was bought more than GBP was sold. GBP was sold more than JPY was bought.

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