usd/sgd trendline break 15min

1hr Oil short open

Gold 1 hr sideways channel

1hr USD/CHF Andrews Pitchfork

EUR/USD 1 hr Dooblay Trend

Crude Oil 1hr Sideways channel

What to look for in tommorows US session!

Tomorrow I'm going to be focused on Comex Copper futures! There is a nice trendline setting up on this instruments 4hr chart. What a lot of people don't know is that copper futures are very correlated with Nymex oil, not as much as the swissie and euro but still it is pretty high. Here is the chart of the copper trade and a zoomed out 4hr with both ontop of eachother. If the 4hr trendline breaks, watch for a bull trade in the oil markets.

S&P Makes its move

During the European session the s&p broke the pitchfork! where are we going now? I took the height of the channel added on to the breakout point. the target comes to around 1220 on the s&p. This trade is going to take awhile to develop, perhaps a couple days if we see a lot of volatility.

S&P 500 Has a date with andrews pitchfork.

This is a massive 4hr Andrews pitchfork! Right now we are retested the support line. tomorrow will be an important day for the s&p, it will indicate whether this support will be broken or are we going to see another rally? I'm going to sit on the sidelines and wait until the pits open tomorrow.

COMEX GOLD

This recent down trend in gold has been quite amazing. If this trend line is broken, that AUD/JPY trade probably wont work out. On the other hand if price touches the trend line then continues downward, it would be a legitimate short in my eyes!

Will the aud/jpy continue its spill?

Another beautiful trend line on the aud/jpy 1hr chart. Since im already in the trade its time to talk targets. If we do a fib study of the most recent swing move to the down side, it appears there has been a 50% pullback. Standard fib theory says 50%->138.2% which is at 90.54(the circle) that seems pretty far but however it does overlap with the weekly S2 at 90.59. That target seems like a stretch, but if the dollar rally continues we just might see those levels.

ZNU8 10 YR TNOTE

This is a 1hr US t-note chart, a trend line within a channel is a good indication of when to short at the top. If the steeper trend line is broken the target will be the bottom of the channel. Easy peasy japenesy!

Technical note on bollingers

Bollinger bands measure volatility of the market; good indication that Bollinger himself teaches is what I like to call the Bollinger reversal. This is simply when Bollinger Bands are broken then price makes a double bottom, but the key is that the second bottom is inside the bands rather than outside. To confirm the second bottom is imperative to use stochastics or another indicator in conjunction.

To stretch your brain a bit lets reverse the theory. Since it simple states that price should make a double bottom inside the band, what if the theory is setting up perfectly but support is broken inside the band, hey that sounds like a definition of a continuation, use this idea to identify continuation patterns.

Goldy Locks

Much like the euro the gold futures market is showing a similar picture. A bit of a head and shoulders consolidation before another move down.

Phelps winning like a maniac, Euro Falls

This trend in the euro market has been down down down to china town. Who wants to fight a trend like this and call a bottom? If this trend line breaks maybe we will see an even cheap euro!

Demise of the Euro..or not?

For the first time since 2006 the euro's voracious upwards trend is taking a vacation. Does this mean commodities will do the same? Considering the high correlation of an oil and the euro; we might see prices come down and give us a breather. As of right now Trichet has a neutral stance over at the ECB, however inflation has always been his foray. The market is finally starting to focus on the inflation comments in Bernanke's speeches instead of just sub-prime tobackles. This makes the trend for the Euro and commodities uncertain. If Trichet is going to raise interest rates becuase of hot inflation and bernake doesnt, this will most likey be just a pullback. On the other hand, if trichet was being a tough guy while global banks were slashing interest rates and his exports were getting demolished...the ECB might be singing a differnent tune.

Swissie divergence

Hourly macd is showing signs that the bulls are running out of steam. It just so happens that the 55ema is overlapped with the support trend line. the target will be 1.0425, just slightly above the 200ema and daily central pivot point.

CAD/JPY 1hr

If we see a pullback in gold and the swissie maybe this will be a nice opportunity to short some cad/jpy. As far as divergence the 15 min shows very slighty

Aussie divergence

the Aussie 15min chart shows macd divergence and a clear reversal at the M1 pivot point. If the trend line is broken to the upside along with the 55 ema, a long entry wouldn't sound to crazy.

Swissie Greenback

Descending Andrews pitchfork! there isnt any indication of macd divergence but there is stochastic divergence to the upside. right now the chart are saying get ready to short gbp, eur, and chf.....then buy some yen.

Swissie Yen

The swissie yen is stuck in an ascending channel, but there is clear macd divergence. This will be a nice little short on a break to the downside.

China has more internet users then the US - Euro trade is setting up

Macd divergence is telling a different story within EUR/USD price action. As price is moving up along this beautiful trend line macd is making a lower high! Also if we take a look at weekly pivot points its obvious the weekly central PP is acting as resistance, will we get a continuation? As far as currency correlation let see what the other pairs have to offer. Lets take a look at GBP/USD the euros little brother. I pulled the trigger on this trade late in the US session based on the andrews pitchfork in blue. But wait? This is one of those ah-hah moments; the gbp/usd is at the top of its pitchfork, the euro is showing hardcore macd divergance...hummm makes a trader wonder what might happen....

Swissiifer stuck in a wedge Update

The swissie trade went great, it put about 40 pips in my pocket. Price nailed my target to the pip, however it looks like it could move even farther down because the gbp/usd has broken through its channel. My plan was executed and now im down, there is no dwelling upon in this game.

Pound Dollar at it again

This is the GBP/USD 1hr chart. I'm thinking that today it might reach the top of the channel and then get rejected because today's M4 is at 2.0019......the top of the channel. I will only trade a break to the upside because like i said before, trading a downward channel to the downside is risky buisness.

A confused yen in a complex world

When i pulled up the usd/jpy chart today MACD divergence jumped out at me like a sore thumb! Price made a double top with macd divergence, now a break of the support line would be nice :-)

Swissiifer stuck in a wedge

This is the swissie 15min chart and it looks like price is stuck between these two lines in consolidation. I don't expect other pairs to move until the swissie makes a move up or down. considering the overall trend recently for the swissie is up, there is a better chance of a break to the upside, but anything can happen.

EUR/JPY Totally Tubular

The EUR/JPY has two support lines in play right now. If the first one is broken we are going to the second. As far as pivot theory we are looking at a R1->S1 (168.56)

To bad its friday

Its to bad the trading week is already ending. Lately Ive been thinking of classic movies i haven't watched in a long time and these came to mind. The first one, weekend at Bernie's is about two guys who try to pretend that their murdered boss is still alive, great movie. The other movie is Saving Silverman, which is about two friends trying to stop silverman from getting married. This movie is right up thier on my list. Time to take my mind off trading for a bit and relaxxxxxx.

Oil's got the scuzzys

Oil prices falling?!?! What this is crazy, today if the candle closes under the trend line this recent uptrend is over! It is interesting to note that oil moves the same way the Loonie does; once oil starts moving it takes off and leaves no one behind, unlike some other instruments. The spread on oil and the Loonie aren't that large so it makes me wonder why they move the way they do. Every currency pair has its own personality right?

Crazy crown damages my account

Oh no! The euro trade was stopped out as well! These were solid trade plans but i guess my timing was just...off! oh well there will be some better trades tomorrow!

Pounding the dollar that could have been

Aw nuts! the gbp/usd didn't do what i thought it was going to do. i came out of this one with a small 30pip loss, the plan was solid but what hopppppppened?

Pounding the dollar setup Update

This trade has also been executed, nothing to do but sit back and wait. The target is still R1->S1 at 1.9920 (the blue horizontal line)

Crazy crown Update

The Crazy Crown has been breached! I caught my entry at 1.5828. The target is M3->M1 for about 100 pips

Pounding the dollar setup

I had the suddn urge to pull up a GBP/USD chart just because i dont look at this pair too often. A clear lower support line is in play; maybe if the euro can break his trendline the gbp/usd will follow, the aussie and nzd are certainly leading the race. If the trendline is broken the target will be R1->S1

Crazy crown

It seems the market came back to the scene of the crime to retouch the crown support line, which is now resistance. But here is a new trade idea; a trend line off the crown. Since i pulled out of my positions yesterday this could be my opportunity to catch the move. Ive never setup a trade like this before, it will be interesting to see how well it works.

Youtube coming to TiVo New Zealand Dollar falls on news...to late run for cover

Unfortunately i was sleeping when this trend line was broken...Its the thought that counts right? It seems that daily trend line i posted eariler is topping the upside for this pair. Maybe this is truly the top for oil and gold? Who knows, but until this daily trend line is broken i probably wont shift gears.


<-Daily Chart

the crown that could have been.

Well it seems we didn't get a Central Pivot -> S2 today. It is understandable because by the time price got to M1 it was very late in the day. Who knew it would stop at M1? Not me! i just closed my short due to some shorter term divergence on the 5min and a 55-> 200 Ema break. it wasn't the pips i was expecting but you cant whine about a 90 pip day :-)