Aud/usd system analysis

You brought out the big dog!

Yes Dan, he always come from no where.Alone man trained good for a big dog

Better make sure he don't bite!


Lol

If he bite the right side it will be ok, the wrong side i will be cripple

Then give that dog a chew toy and keep him on the right side!

Maybe this chew toy will work





Dan

LOL Dan

AUD/USD

Dan

GBP/USD

Monthly/ After making the low of 1.3501, on 1/1/2009, we have retraced short of the 50% (1.7329) of the big down move from 2.1160, 1.3501. Since then the Monthly candles chart is showing swing in consolidation, lower highs and higher lows. Because of this we are making narrowing FibZones. We now sit at 1.5424, which is last Months midpoint. The current Months midpoint is 1.5853, we are well below this point. Because of the consolidation, we have the narrowing FibZones, which means a FibZone Support area higher than the last zone. This makes this Bottom FibZone (1.5109 to 1.4942) very important. If we break below this FibZone and turn the support into resistance we are on our way to breaking the consolidation.



Weekly candle chart shows that we are well below the current FibZone midpoint, of 1.5660. We are now at 1.5424. The FibZones are showing strong support with the previous FibZone and current FibZone (1.5212 to 1.5107) lined up beside eachother. The bottom of the Weekly FibZone lines up to the top of the Monthly candle chart FibZone of 1.5109. So we will watch this area carefully and how the candles approach 1.5109/07. If we continue lower, do we stop short of 1.5109/07 and start making small A,B,C,D's up...or do we hit this mark and have a small retrace and consolidation followed by a further retrace or a slide down to the bottom of the Monthly FibZone (1.4942). If we stop short of the 1.5109/07 area and start working up we will look for possible consolidation or retracement to the mid-points (starting in the smaller timeframes first and working your way up to the larger midpoints).



Daily candle chart shows a consolidating downtrend. We've got three FibZone support areas lining up (Current is 1.5341 to 1.5307) , which makes this a significant area to watch as well. Whenever we get FibZones lining up like this it is added strength, also when you have an extra wide FibZone it means added strength. These will be trouble areas, but not impossible areas. If we make it passed strengthened FibZones we look for these areas to become strong resistance(or support) the opposite direction. Also remember, if we break through any FibZone and have it turn into opposite strength (becomes opposite support or resistance) then we look to the single line below the FibZone as our secondary Target. On this daily chart if we break through the current 1.5354 to 1.5307, we will look to 1.5146. As with all timeframe charts...if we break passed the secondary support (or secondary resistance) we then move to the next larger timeframe chart for our targets.

When analyzing any chart, any timeframe, any candle...you do so the same way through all timeframes. When we analyze we start in the large timeframe first down to the small timeframe. We do this because the larger timeframe areas are of more importance and we need to give them more significance than any smaller timeframe trouble area/target. Yearly levels are more important than daily which is more important than 480, which is more important than 60 which is more important than 5 min etc etc etc. So we analyze from the most important to the least significant, but the price moves from the small timeframe up to the large timeframe. Small swings take time to make large swings. Fibonacci and good technical analysis works the same way when your analyzing a monthly candle chart down to a tick chart. We do things the same/same/same.



480 and 240 FibZone Charts



Dan

USD/JPY

Dan

Attached Image

Fill The Gaps!

Some of this weeks gaps are posted at Mme's Website, WTForex!

go check them out!


Dan

Guys, just letting you know, I am out of this with 357 pips, still in Eur/Usd, Gbp/Usd and Aud/Usd not saying how many in total until I am done, Just keep posting, this is a pip machine thread, I have to go watch the trades.Thanks a million, is coming soon, very soon.

PipHunter! Great Job!

Keep us posted on how your other trades turn out




Dan

AUD/JPY

Dan

EUR/JPY

Dan

GBP/JPY

This one can get you. You have to watch, it loves to retrace hard and fast...but it gives up lots of pips!




Dan

EUR/CHF

Dan

GBP/CHF


don't be a

Dan

Attached Image (click to enlarge)