Kiwi on the 10min, see if it can get above trend and compete for a new high of day
UCad on the hour from my MCFX chart - still cannot load tradeinterceptor. Ucad trading between trend lines, crossed 75ma yesterday - usual slow start. Nice rounding bottom suggesting uptrend. Challenging the 38% retrace fib. Targeting 1.0320, needs to cross 4 fibs to target. Each fib will more then likely be met with pull backs
Aussie on the 8hr - bottom bolly at 1.0205, 75ma at 1.0078, targeting trendline at 1.01175, rounded top - breaks trendline then next target 75ma
Aussie on the 3min, crossed 75ma this am, now challenging 75ma, has not crossed above, should be limited to below 1.0208
So UCad has not crossed into the 38%. What I would like to see is UCad close above the 38% fib on the 1, 2 or 4 hour and then we can establish that the immmediate price range will be between the 38 and 50% fib lines
UCad trying to establish position above 38% fib, be careful the trend is not strong enough on the 15min to cross above the 10ma to the next fib(50%)
UCad on the 1hr. Closed above the 38% fib, should retest fib, however too bad it is friday afternoon - prices could relax lower. Still targeting 1.0320ish
Aussie on the 1hr - again too bad it is friday afternoon. Aussie should be held at neckline drop(purple line). targetting trend line below(black line), first must cross 1.0151. An advance above the neckline will challenge the 75ma then its last daily high - 1.0328
Oh my God - finally got Tradeinterceptor to load - so here is the 2hr on euro in retrospect - I like the tradeinterceptor for the regression slope. If price starts entering the regression slope or TriMA it generally makes it the other indicator - in this case it made it to the other indicator, tested the 200ma, before retreating below the TriMA and stayed below it.
Taking alook at AudUsd price action, tearing it down from the weekly. I have added a new overlay variable MA at 120 displaced by 2. The dark blue line. The rest of the indicators are light blue TriMA 15, regression curve green, 200MA red, 100MA purple and the 75MA black.
On the 8hr, price action is looking interesting, rounding top, closed at the 200MA, trading between the indicators, however alot of scatter is in the way - 75ma, varMA and 100MA
4hr AudUsd, clearly below the indicators. The varMA acts much like the TriMA and maybe it is just to confirm the direction of trade is correct. However it would appear price action is targeting the 75MA - black line and limited above by the varMA - therefore price action should be between 1.0255 and 1.0135
AudUsd on the 30min. Price has respected the 75MA as well as the varMA. Live price action is king, but if price can be cantained below the varMA, dark blue line then a challenge to fridays low and break below is what I hope to see. No fibs or bollys on these charts.
AudUsd again on the 1hr this time with target fibs based off of Jun 1 and 28. Placed a 3hr regression slope overlayed onto the 1hr chart(dots), pretty much just another confirmation indicator. Blue box represents last week price action, bottom of box is based off of June 20 high, which was the last high previous to last week. Ideally would like to see price stay out of blue box and start challenging the 38 and 19% target fibs below price
AudUsd on the 5min, looking to break below cross channel trendline for a target of 1.0332. Price crosses below 1.0332, bottom trendline is broken for uptrend movement, next target 1.0076
I see you really love indicators. Don’t you get confused by the many indicators sometime?
The simplier the better, let me tear the chart down to the skelton. The surviving components are the 75ma, regression slope time altered. fibs and last weeks boxed in action. The graffitti on the chart represents how I perceive price action - for myself I do not draw these out. However if I played this chart as it stands without trend lines, key MAs and a regression slope intercept - it would be very difficult
