Looking for UsdChf to be contained at .9560
Euro on the last 8hr power bar with fibs showing that equal move down and up(high of bar retraced 61% and price action went to 138%.
UsdChf on the 5 min showing price action crossing below 75min, another failed slope and points of entry to short. Price looking strong still, however it is friday and things can change very quickly.
Here is a 8hr chart of NzdUsd, showing cup and handle play - if kiwi holds price above .8015 then target will be .8090 - however remember it is friday and end of month with a Canadian and American holiday next week
Euro on the 4hr with fibs. Came through the indicators and the 75ma and above the 100ma. Euro in the past has not been able to maintain the 100ma. Also the 38% fib retrace on the entire down trend has been extremely resistive to maintain price above. However if price action maintains the above and reaches 50% fib then likely price action will continue with the uptrend. Wait and see.
I just wanted to revisit the 4hr euro, as I had problems posting it last night. The overall retracement from the full downtrend is at 1.2651. The 23.6% retracement on the last three 8hr bars is 1.2629, which is also the 100ma. Again what we can see is that price has respected the neckline and confirmed support at this level, price through the whole retracement has been responsive to the 75ma and presently price is above the 100ma. What I would be curious to see this week is if euro can maintain price above the overall 38% retracement at 1.2651, if so then the target becomes 1.2774.
UCad on the 30min. Okay, so we have already looked at the full breakdown of Ucad on another post - so lets see if parameters can be placed on Ucad for direction on Sunday eve. The retracement from the full downtrend at 19.1% is 1.0326 and at 38% 1.0206. The oscillator is below zero and price action has been respectful to the Trima(15). So in my opinion any break above the 1.0206 and sustained on a significant timeframe represents a threat to return to its uptrend, in the shortterm. However this pair may represent direction for the currencies, however I preferr UChf for direction.
Looking at UChf on the 4hr. Price action moved down through the indicators, crossed below the 75ma and price got hung up at the 38% retracement mark. However lets look at the run up price action did when it crossed the indicators prior to this movedown. The slope of price action is unhealthy - I call it a failed slope the trendline at the top, when the angle of the slope is less then 45 degrees, I become leery as to the validity of the move. The chart on the next post will be the 1hr on UChf
UChf on the 1hr. Fibs applied to the last run up and how responsive price action falling is to the fibs. Price action deterorated at the 75ma cross.and continued to respect the 20ema(red line) on the way down. At the bottom of the rundown price action throws a double railroad - up bar matching the last 1hr down bar, this compounded with the fact price action on the swiss is relunctant to pass below the full retracement, has left euro, aussie and kiwi waffling on friday for direction. So what do we know about fridays markets. We know the markets did not sell off last part of trading on friday, Ind Jones Avg increased by over 250 points, threw a huge bull candle on the daily and crossed its 50dma. Again it really comes down to price action, but at least I feel I have alittle armor to start with on sunday night.
NzdUsd on the 30min. Okay I should revisit kiwi as price action was not what I anticipated on friday. What we know, swiss got hung up at the 38% retracement from low, this caused price ripples in the rest of the pairs. The red fibs represent the current move up, the black fibs represent the overall retracement from the whole downtrend. Kiwi is being supported at the 19.1% retracement on the true retracement as well as the retracement fan. However kiwi has entered below the top indicator suggesting it will go to the furthest indicator. However if this is a box play, we are looking at support at the bottom of the box and looking for price action to exceed roof of box. The 75ma is down at the bottom so not really helpful on this timeframe - best bet is kiwi is still a long play as long as price action respects the bottom of the box, giving targets to high .8040 then to .8060. Blows bottom of box target .7967.
Last chart, kiwi on the 5min with building block plays, below the 75ma supported by the fib. Good luck everybody on sunday - but remember luck is not what we count on, putting the charts with the fundamentals will build the pips. No long trades when price is below the 75ma and no short trades when price is above the 75ma. Put the fibs to your power bars, draw your trendlines.
AudUsd on the 1hr, will not bore you with tech analy and I know any babypip teaches out there will not like this - however sometimes when I cannot get a feel for the trade, I will take the sunday to monday trading session and apply fibs to the high and low of this day to give me a crude trading framework on the pair. I will try and post the 15min on this post below. Yeah I know it is left of field, but having a framework on the current price action never hurts
Okay - one of my platforms is not loading so it is like playing half blind. So Lets just visit a couple of these charts and see what is going on. Kiwi still playing in the box - however the smaller timeframes are not that flattering, but the larger 8hr paints an interesting story - now I am thinking a further move up to .8085(but I would guard my stops carefully), if it cannot breakout of .8039 then it is definitely a tower top and price will come down -
Sorry lets try a larger chart - 8hr with maybe a tower top or maybe a breakout - but definitely ranging between .7994
and .8039, yellow line is 75ma very low down.
Euro 15 min - so the rounding top and fall through the yellow 75ma - now it at a double bottom and challenged the 75ma line twice - if it crosses I would be looking for 1.2648 and if it falls past that double bottom then 1.2582(fib line). Would like to post more, really choked my other chart is loading - I will try tomorrow eve.
Sorry everybody I have not abandoned my thread. Trying to get my tradeinterceptor up and running again - huge headache - if anybody has any sugggestions please let me know.
Ok, so while I am waiting for my program to be fixed, here is the 8hr kiwi off of my other chart. Rude and crude fibs from sun and mon extremes giving framework for week. There are always only 2 ways things can play out. Presently a double top, however if this hour can breakout of the top then new high will be set at .8076 .8086(which is more likely, 38% retrace 38% past high - but another pattern is present, which shows an M forming and a potential to cross below the fib line at .8044.
This is developing into a short play. The yellow line 75ma should have held on the 3min Kiwi. If next run up cannot surpass the high then this is looking like a head and shoulders top on the short term. However on the 3min all the indicators are still traveling up and the 100ma - purple line, is holding.
