CoghlanCapital.com

LOL!!!

I blew right by it!

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AUD 240 min

As previously suggested price found support along the green Sliding Parallel that was prior resistance and has in fact gapped up to the next area of anticipated resistance at the blue Sliding Parallel.



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AUD 240 min


I am wary of anything in front of the FOMC but it looks as though the green SP pointed out above has provided the support needed. Price has risen once more to the blue SP and on falling back from there is finding higher support in the fork. Currently price is at the ML and we look to see if the raised floor or the constant ceiling are pressured as the day continues and news comes out.....

Note how well the lines are working in the angle of the fork - we use them to define the path of price giving us high probability areas of support and resistance.



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AUD 240

In the wake of FOMC we continue to see the AUD 240 step up in the fork that we have been watching for some time. We look to see if the move from the Median Line to the dashed quartile results in support establishing along the latter. (I have removed the red lines seen on previous charts for the sake of clarity)

As stated above " Note how well the lines are working in the angle of the fork - we use them to define the path of price giving us high probability areas of support and resistance."



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With help from Ben, cable hit one of my shorter term targets @1.6050 !!!! WheheeW! Cooking!

How are your Gold and silver charts shaping up?

:thumbup:
Cheers!

XTrade

I'm glad to be of help, but in deference to existing subscribers I am only publishing a very small number of charts here.

Hope you will understand.....

Ben



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AUD 240

Price has retraced somewhat from the quartile and we now look to see if it finds support along the lines of the Sliding Parallels that were prior resistance or whether it continues to lower support.




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For anybody interested in the techniques that we make use of, here's a previously posted webinar that introduces the Cross Pair Analysis and looks at a large number of charts and how to trade them:

http://www.coghlancapital.com/node/6390


Have a good weekend ........



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Is a public webinar scheduled for this month?

There will be one but it will probably be very early next month - details to follow .....



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Does Paul ever conduct seminars/workshops? If so, are they available for purchasing?

Hi kapital

Thanks for your interest. Paul usually holds a free webinar every month. The next one will probably be in early October and I will post details of it here.

Should you require further information re seminars/mentoring etc please email [email protected]

All the best

Ben






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SI 240 min

I spend plenty of time trying out forks. On this SI 240 min chart, after watching the move up and retracement, I saw possible AB and C points and drew the blue fork accordingly. By using a Schiff (aka an unmodified Schiff) I found that there was resistance along the Median Line and Quartile (puce circles) and also that support came in along the Lower Parallel (green circles). However the action is happening close to the BC line and the fork is not yet validated to my satisfaction. I am also very aware of the red downfork and the lines of support and resistance that it gives - particularly the light green line. Having said that, the action along the blue lines has put me "on alert"....

We don't get married to forks, they are not sacrosanct, but working well they are incredibly powerful tools and we look at them not only to define the path of price but also to give areas of likely support and resistance. I would not "just buy" the blue Lower Parallel - particularly running into numbers - but would use it to gauge how price is moving. If we continue to see the price work along the lines of the fork then we can use the fork to trade in and out along these areas of anticipated support and resistance. If price breaches the Lower Parallel and stays below, that tells us as much, if not more, about the likely path of price.

Once again this blue fork is not yet validated to my satisfaction and has been posted as an exercise and to try and explain how the thought process works.




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SI 240 min

I'm continuing to watch this develop. From the detail below you can see that we had a third precise bounce (green circle) from the blue Lower Parallel.

If you had taken a long entry at that touch, you would only have needed to place your stop 10 cents lower, beneath the previous touch and would now be well in profit.

I will now look to see where we encounter resistance - the areas I am watching are the blue sliding parallel which has had worked twice (purple circles) or possibly the descending red sliding parallel.




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SI 240 min - following on from above

In fact it was the blue sp......

Have a good weekend.




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Many thanks for the positive messages re the SI 240 received over the weekend.

I'm pleased that it was of help

Ben




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http://www.coghlancapital.com


SI 240 min

Continuing to watch this chart we see yet another bounce from the blue Lower Parallel as shown in the last green circle.

This is quite a tight channel for a 240 min chart given the political/economic situation in the US.....

Caution is warranted as we could be seeing a lowering of resistance in the fork. Prior resistance was to be found in the puce circles along the blue Sliding Parallel but now appears to be slightly lower as shown by the gaps to that SP as highlighted by the two red arrows. I will be watching the Lower Parallel to confirm continued support.......




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SI 240 min

The anticipated breach of the Lower Parallel has happened. Watching to see if this is just a flush or something more........



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SI 240 min

I wanted to expand a little on what made me suspect that the channel, delineated by the green-circled supports and puce-circled resistances, might breach to the downside.

The key to this was the lowering of resistance as shown by the series of red arrows. The fact that price did not reach as high in the fork as the previous puce-circled resistances implied that the blue Lower Parallel was in peril. Combining this with the existing red downfork's lines of support and resistance - notably the previously mentioned green line - increased the probability of a breach.

We uses the lines of the forks to give high probability areas of support and resistance - by looking at multiple timeframes we are able to build a comprehensive picture of how a vehicle is likely to move.

EDIT - If you are bullish SI 240 min, one thing you would not wish to see is the blue Lower Parallel (that was previous support) becoming resistance on a retest as that would imply lower prices.......



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EURAUD 60 min

The Cross Pair Analysis service, which looks at non-US Dollar pairs, has been tracking this for a few days. Note the green circled support along the Lower Quartile and the Lower Parallel and the puce circled resistance along the Upper Quartile and the Upper Parallel.

An entry at the last green circle with a 20 pip stop below the previous one would have shown a current 180 pip gain. Currently seeing possible resistance at the downsloping red UP.




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