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Trading Made Simple for Day Charts

  • #1,561
  • Jul 10, 2013 11:05pm Jul 10, 2013 11:05pm
EA looks to have a downward channel of around 350pips.

Day trend had the FOMC blip, but nothing to suggest a long entry at this time
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4 7-10-2013.png Size: 75 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,562
  • Jul 10, 2013 11:41pm Jul 10, 2013 11:41pm
GU now has some very clear PA sticking points - 4800 / 5000 / 5200 / 5400 /5600 and possibly 5800 - anyone see a pattern?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily 7-10-2013.png Size: 69 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,563
  • Jul 11, 2013 6:08am Jul 11, 2013 6:08am
Quoting Britpip7
Good luck interpreting signals on EU - depends on whether you believe that this is a trend turn or just an FOMC reaction which will slowly retrace over the next few days. Watch on lower timeframes for entries. {image}

Perhaps an entry opportunity for a further downward move,?
  • #1,564
  • Jul 11, 2013 6:22am Jul 11, 2013 6:22am
Quoting Britpip7
GU now has some very clear PA sticking points - 4800 / 5000 / 5200 / 5400 /5600 and possibly 5800 - anyone see a pattern? {image}
If the far right hand side of the chart mimmicks the far left hand side then a double bottom was formed and price could move up through several S/R areas, and of course could be stopped or reversed at one, to become a dbl top at 1.5750 or thereabouts.
  • #1,565
  • Jul 11, 2013 3:46pm Jul 11, 2013 3:46pm
Circumstances may change, however I found this channel on a weekly G/U interesting
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 101 KB
  • #1,566
  • Jul 11, 2013 4:03pm Jul 11, 2013 4:03pm
Ok, pending order below current low on th U/J

APB colour change to red
PA moves with ATR(1) at 75% or higher of ATR(7)
RSI moving below 49
TDI cross within the last 1 or 2 candles and moving down from the 68 region
Break of a fractal high
A lower high than the previous high
Reversal of SD zone
High slope value
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpydaily.png Size: 102 KB
  • #1,567
  • Jul 11, 2013 9:55pm Jul 11, 2013 9:55pm
Quoting Buttonjock
Ok, pending order below current low on th U/J APB colour change to red PA moves with ATR(1) at 75% or higher of ATR(7) RSI moving below 49 TDI cross within the last 1 or 2 candles and moving down from the 68 region Break of a fractal high A lower high than the previous high Reversal of SD zone High slope value {image}
Still not sure - my brain is ruling the heart right now and keeping me out - maybe more PA and I'll come and play
"To live with Passion, it takes Courage and Grace to survive"
  • #1,568
  • Jul 14, 2013 11:50am Jul 14, 2013 11:50am
Following on from last weeks major moves and then the FOMC bloodbath, GU may be the best option for a continued pull back

Positives
PA moving and closing below the Supply Zone
RSI below 49

Negatives
No crosses on 2/7 or TDI
TDI Trade Signal Line moving higher
No APB colour changes

H4 has better entry signals at this time - This is an early entry signal, so trade with caution - market may gap on opening, so we'll see where it takes us
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily 7-14-2013.png Size: 56 KB
Click to Enlarge Name: gbpusdh4 7-14-2013.png Size: 54 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,569
  • Jul 14, 2013 11:58am Jul 14, 2013 11:58am
EA is still bullish, however, there is a strong Supply Zone in play and PA is on its 3rd attempt to break higher in the past month, so possible bounce lower - most indicators are showing overbought.

H4 is showing the current range from Friday close to the 200EMA as 500+ pips, so I would advise trading on the H4 at this time.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurauddaily 7-14-2013.png Size: 46 KB
Click to Enlarge Name: euraudh4 7-14-2013.png Size: 58 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,570
  • Jul 14, 2013 12:05pm Jul 14, 2013 12:05pm
GB/NZD may give more opportunities for higher moves on the Day

Positives
PA moving away from 100/200EMA
2/7 cross
TDI cross - TDI Trade Signal Line is heading up - needs PA to continue north!
APB colour change
Day PA close HH / HL for 3 days

Negatives
PA stalled - Thursday and Friday closes are below the highs for both days
RSI stuck at 49

as usual watch the PA, this could just as easily be rolling over.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzddaily 7-14-2013.png Size: 53 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,571
  • Jul 14, 2013 12:12pm Jul 14, 2013 12:12pm
AUD/CAD has broken the Fractal Lows and is still heading lower.

TDI is close to its oversold area and is showing Convergence to PA.

H4 would give the impression of a reversal to a long position, supporting the day TDI / PA pattern, so going to watch this on H4 for confirmation of a move higher
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audcaddaily 7-14-2013.png Size: 58 KB
Click to Enlarge Name: audcadh4 7-14-2013.png Size: 70 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,572
  • Jul 15, 2013 4:35pm Jul 15, 2013 4:35pm
Quoting Britpip7
{quote} Still not sure - my brain is ruling the heart right now and keeping me out - maybe more PA and I'll come and play
Your brain's got the goods on the U/J this one. Well picked
  • #1,573
  • Jul 16, 2013 12:54pm Jul 16, 2013 12:54pm
Quoting Buttonjock
{quote} Your brain's got the goods on the U/J this one. Well picked
sometimes even the blind squirrel finds a nut
"To live with Passion, it takes Courage and Grace to survive"
  • #1,574
  • Jul 16, 2013 12:58pm Jul 16, 2013 12:58pm
Most reversals lost their steam, so can now be downgraded to pauses / pull backs.

AUD pairs show the strongest tendency to reverse at the moment, however, watch the PA for stalls and manage your trades closely.

JPY pairs are ranging and are running along key EMAs such as the 100, so waiting for a clear break away.

The EA / GA / ENZD / GNZD have larger ranges - up to 600 pips, so are worth looking at on lower timeframes - start with H4 for reversals off of the range H/L.

AUD/CAD is worth watching to see if we get continuation, but it is still not breaking through the EMA21.

Patience!!!
Attached Image (click to enlarge)
Click to Enlarge Name: audcaddaily 7-16-2013.png Size: 50 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,575
  • Jul 16, 2013 1:06pm Jul 16, 2013 1:06pm
Quoting Britpip7
Most reversals lost their steam, so can now be downgraded to pauses / pull backs. AUD pairs show the strongest tendency to reverse at the moment, however, watch the PA for stalls and manage your trades closely. JPY pairs are ranging and are running along key EMAs such as the 100, so waiting for a clear break away. The EA / GA / ENZD / GNZD have larger ranges - up to 600 pips, so are worth looking at on lower timeframes - start with H4 for reversals off of the range H/L. AUD/CAD is worth watching to see if we get continuation, but it is still not...
AUD/CAD from an H4 perspective with a strong channel
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADH4 7-16-2013.png Size: 70 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,576
  • Jul 16, 2013 1:17pm Jul 16, 2013 1:17pm
USD/CHF is looking to break lower on the day with the 200ema acting as current support - watching on H4 for the break lower
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchfdaily 7-16-2013.png Size: 73 KB
Click to Enlarge Name: usdchfh4 7-16-2013.png Size: 59 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,577
  • Jul 16, 2013 1:22pm Jul 16, 2013 1:22pm
Hi Britpip,

the way you use the 21ema is very much like the 3 & 18 ema that i got from another thread,
having your 7ema included does give good trade signals - if 3 cross 7 and then proceed to cross the 18 then hey presto were off.....

just my two penny worth as i am still learning.....
no charts to post as cant find a trade this week..
nelly
  • #1,578
  • Jul 16, 2013 1:32pm Jul 16, 2013 1:32pm
Quoting Nellycopter
Hi Britpip, the way you use the 21ema is very much like the 3 & 18 ema that i got from another thread, having your 7ema included does give good trade signals - if 3 cross 7 and then proceed to cross the 18 then hey presto were off..... just my two penny worth as i am still learning..... no charts to post as cant find a trade this week.. nelly
Hi Nelly,

Today looks like we get some PA confirmation on the day charts, so patience may be rewarded. I have nothing open so far this week - tempted, but sticking to the trading plan
"To live with Passion, it takes Courage and Grace to survive"
  • #1,579
  • Jul 16, 2013 1:35pm Jul 16, 2013 1:35pm
Britpip any thoughts on AUDUSD ??? weekly tdi crossed up from the 32 level, daily just crossed with colour change & ris(10) @55.4

cant seem to be able to upload chart - its been security scan the file for ages now....
  • #1,580
  • Jul 16, 2013 1:44pm Jul 16, 2013 1:44pm
Quoting Nellycopter
Britpip any thoughts on AUDUSD ??? weekly tdi crossed up from the 32 level, daily just crossed with colour change & ris(10) @55.4 cant seem to be able to upload chart - its been security scan the file for ages now....

Looking at the chart, PA has now broken EMA21 and all indicators are showing long. Generally following last night's RBA news, the AUD pairs are running well.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily 7-13-2013.png Size: 52 KB
"To live with Passion, it takes Courage and Grace to survive"
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