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Circular Trendlines

  • #2,021
  • Jun 21, 2012 7:25am Jun 21, 2012 7:25am
EUR H1
The upward motion on the failed efforts of yesterday is not complete yet. Price action is not showing the necessairly drop that needs to be there to confirm that we are exiting the support of the black circle.

Gold Weekly
I have included the chart for the weekly time frame of Gold, to show how price action reached its maximum stretch within the curvature and the nature of the drop out of the curvature.

EUR H4
We need to see a similar scenario here. As long as we dont see that we are going upwards. A similar war of prices occured between Feb 17 2012 and Feb 22 2012. I have also included a chart of that time in here to draw attention to a strong possible move upwards.

We do have a curved top in the current scenario, which could imply a turnaround at the moment, but lower time frames are not confirming to this. So the curved top could be a false indication as well.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD_H1.jpg Size: 114 KB
Click to Enlarge Name: EURUSD_H4.jpg Size: 117 KB
Click to Enlarge Name: Gold_Weekly.jpg Size: 93 KB
  • #2,022
  • Jun 21, 2012 9:21am Jun 21, 2012 9:21am
Quoting egkid
Morning all
I prefer to b more patience for now
1.0234 Key Point IN Long term since January 2012 That was my view
morning bro. same view
looking for investors . pm me
  • #2,023
  • Jun 22, 2012 9:34am Jun 22, 2012 9:34am
On the first H1 chart we have 2 timelines June 25th and June 28th. Given the fact that if a downtrend was to continue we should have maintained ourselved WELL BELOW below 2565-2540 which is the vicinity of the red horizontal line on the first chart, there is reason to believe that we will be going upwards again from the low of 2518-2525 that was established yesterday. These reasons have been explained in the second H1 chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD_H1_Chart1.jpg Size: 136 KB
Click to Enlarge Name: EURUSD_H1_Chart2.jpg Size: 127 KB
  • #2,024
  • Jun 22, 2012 3:04pm Jun 22, 2012 3:04pm
Quoting Kambooj
On the first H1 chart we have 2 timelines June 25th and June 28th. Given the fact that if a downtrend was to continue we should have maintained ourselved WELL BELOW below 2565-2540 which is the vicinity of the red horizontal line on the first chart, there is reason to believe that we will be going upwards again from the low of 2518-2525 that was established yesterday. These reasons have been explained in the second H1 chart.
Exactly
Was checking to post same view but u did the job
Catch u next week
  • #2,025
  • Jun 22, 2012 11:36pm Jun 22, 2012 11:36pm
http://wahai.com/25062012.png
Patience Pays
  • #2,026
  • Jun 26, 2012 9:39am Jun 26, 2012 9:39am
Sorry for posting a bit late, but yesterday I stayed out to see how the downward movement will react towards the 2500 level, from the energy of the movement, and the unability to sustain itself properly above 2500, there is at least another 100 pip drop waiting to happen, but it wont be today.

The chart below is the best I could come up with in terms of support/resistance and timelines.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_M30.jpg Size: 142 KB
  • #2,027
  • Jun 26, 2012 11:15am Jun 26, 2012 11:15am
An alternate view of support / resistance levels...
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_H1.jpg Size: 143 KB
  • #2,028
  • Jun 26, 2012 3:07pm Jun 26, 2012 3:07pm
So far no trade for me just watching
Australian have a chance to go up, So I guess e/u will do
  • #2,029
  • Jun 26, 2012 10:17pm Jun 26, 2012 10:17pm
http://wahai.com/whereto.png
Patience Pays
  • #2,030
  • Jun 26, 2012 10:42pm Jun 26, 2012 10:42pm
If we cant get upwards to 2600 very fast, then we are most likely to start another wave of downhill action, but the next support level in that case would be 2350-2380 levels.

Situation is very undetermined at the moment, the first quarter of the moon is today, and within the next 24 hours, some sort of a strong move is bound to happen.

Pole bounce upwards from the blue circle can open the opportunity for a perimeter to perimeter move within the blue curve.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_H1.jpg Size: 96 KB
  • #2,031
  • Jun 27, 2012 2:35am Jun 27, 2012 2:35am
I [email protected] , 1.2490
reasons:
rejection with 15min @2480 , M shape on 4h "Bullish pattern for me"
  • #2,032
  • Jun 27, 2012 4:23am Jun 27, 2012 4:23am
I am still waiting for the R/s to hold at 1.2485 /intraday pivot. If it's resistance I'll short. (M15)

http://wahai.com/retested.png
Patience Pays
  • #2,033
  • Jun 27, 2012 5:07am Jun 27, 2012 5:07am
hi Kambooi,

I admire your method.very interesting.not very easy to administer.
looks down to me.


Attached Image (click to enlarge)
Click to Enlarge Name: eu usd 27-06.gif Size: 70 KB
  • #2,034
  • Jun 27, 2012 8:22am Jun 27, 2012 8:22am
Here is my view...

So far it looks like to me as if a turning point wants to be reached,

I am long on a trade at 2450 with a stoploss of 2430, since I figure if it drops, it will be a major drop and it has to spike downwards, so I put a tight stoploss on it.

As long as this thing can push itself above 2480, there are chances that it will travel further up to 2600, and a probable spike to 2800 level

Yesterday I talked about a missing spike downwards, but there is a lot of hesitation and motion is starting to respect the blue circle at its south pole, which I think it will maintain that level for today.

But lets see
Quoting jasontrader
hi Kambooi,

I admire your method.very interesting.not very easy to administer.
looks down to me.


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_H1.jpg Size: 130 KB
  • #2,035
  • Jun 27, 2012 9:57am Jun 27, 2012 9:57am
At such times when market is uncertain, any other slight indications that you can get off any other source is also helpfull. I usually dont post this, but its a nice thing to note:

Today there is a astrological phenomenon known as the Grand Cross, this event once happened on August 7, 2010 and its happening today.

The market was stagnating slightly after it, but then a huge surge upwards began to happen.

In here we are stagnating before it, so not quite sure whether we will go upwards again as in August of 2010, but so far it doesnt like to go downwards.


Quoting Kambooj
Here is my view...

So far it looks like to me as if a turning point wants to be reached,

I am long on a trade at 2450 with a stoploss of 2430, since I figure if it drops, it will be a major drop and it has to spike downwards, so I put a tight stoploss on it.

As long as this thing can push itself above 2480, there are chances that it will travel further up to 2600, and a probable spike to 2800 level

Yesterday I talked about a missing spike downwards, but there is a lot of hesitation and motion is starting to respect the blue circle at its...
  • #2,036
  • Jun 27, 2012 10:37am Jun 27, 2012 10:37am
Quoting Kambooj
At such times when market is uncertain, any other slight indications that you can get off any other source is also helpfull. I usually dont post this, but its a nice thing to note:

Today there is a astrological phenomenon known as the Grand Cross, this event once happened on August 7, 2010 and its happening today.

The market was stagnating slightly after it, but then a huge surge upwards began to happen.

In here we are stagnating before it, so not quite sure whether we will go upwards again as in August of 2010, but so far it doesnt like to...
Hey, did you mean doing the opposite to 7 August 2010? At that time price was rising to that day, then dropped till near the end of the month before the big rise. Now euro has been dropping into this week but has been slowing down in the last 2 days. So if it's the opposite to that then after this consolidation it would go up? Thanks.
  • #2,037
  • Jun 27, 2012 11:36am Jun 27, 2012 11:36am
I was looking at the daily chart, and August 7th was a saturday, but after that it dropped, but then rose significantly

The drop was very tight during August 7th / 10th, so could have been that I missed the drop part


Quoting Oshawa
Hey, did you mean doing the opposite to 7 August 2010? At that time price was rising to that day, then dropped till near the end of the month before the big rise. Now euro has been dropping into this week but has been slowing down in the last 2 days. So if it's the opposite to that then after this consolidation it would go up? Thanks.
  • #2,038
  • Jun 27, 2012 11:54am Jun 27, 2012 11:54am
The drop from Aug.9 to Aug.24 is what I referred to. The time up until Aug.6 price had been slowly edging up.


http://i45.tinypic.com/6p992x.jpg
  • #2,039
  • Jun 27, 2012 12:08pm Jun 27, 2012 12:08pm
Ok, thanks for correcting me, the charts on NetDania are condensed and the lower time frames dont allow scrolling backwards in time. Anyways something important is about to happen soon, and we will see what it is.

Still keeping long on my morning order

Quoting Oshawa
The drop from Aug.9 to Aug.24 is what I referred to. The time up until Aug.6 price had been slowly edging up.
  • #2,040
  • Jun 27, 2012 12:36pm Jun 27, 2012 12:36pm
Support and Resistance levels on Daily time frame...
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Daily.jpg Size: 162 KB
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