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Naked charts with trendlines only


syk1kz

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recieved this is an email before, will be interesting to see how my long usdjpy works out, even though my stop well above that first noted support level of 85.31, currently -60pips

 

USD/JPY

Bullish unless below 85.31.

 

Since the beginning of the third quarter the yen has lost 400 pips and last week the currency retested its 2009 lows of 84.82. But last week there were also signs that selling pressure was waning. On the daily chart a bullish hammer formed at the low; a candlestick pattern consistent with exhausted bear market sentiment. Selling interest supported this by consistently stalling below 85.00. On a weekly basis, momentum levels are the least bearish in almost three months. The forecast for this week is therefore bullish unless there is a move below 85.31. First resistance is at 86.43, which represents the bear trend of failed bounces that has capped the market since June, to 86.94, a 50% recovery to the losses since July (89.17 – 84.73), then 88.12, the highs of July 28.

 

RES: 86.43 96.94 88.12

SUP: 85.31 84.73 84.00

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noted some lower highs and lower lows here, will there be a lower high around the pink line?

 

could be used as a possible short entry as rsi nears overbought on the lower time frames

 

http://a.imageshack.us/img801/7392/audusdl.jpg

Edited by syk1kz
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Thank you Sky1kz for your detailed reply to your settings of RSI and the rest.

 

Your charts are just great.

 

I am flat out at the moment with other matters but will contribute my thoughts later today/tomorrow

 

I am reading all your posts with great appreciation

 

No problem mate, see your PM when you get a chance

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Hey syk1z,

 

Your technical analysis is very educational. Have you had success on your live account using these trades?

 

Chris

 

 

 

To be honest the account is down but i am not, I blame alot of that to dragonpips and megadroid before i started manual trading. I went EA crazt prob 6-8 months ago and u can find alot of my posts in DP/MD threads, However since following trendlines i am doing alot better than any EA i have used.

So i am up, but my account is not if that makes sense. i am makinkg it back slowly though.

I am looking for a new broker after gomarkets/vantagefx dying yesterday for 2-3mins, i will show live trade data after i move - until then demo only

Edited by syk1kz
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note the double bottom near the pink link, it went near the line in november last year, then returned now to retest the low. along with the potential for BOJ intervention, or the rumours atleast, im hoping the losses are about done, thats why my stoploss is below the support line marked

 

http://a.imageshack.us/img822/6999/usdjpyh.gif

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My thoughts on AUDUSD

 

Once PA rolls over on H4, I have indicated possible strong support on lower TL and W1 55 EMA as TP1. ( confluence of two support lines used by many traders.)

 

On D1 I see hidden divergence to the downside. Another place I will be watching is PA on this lower TL.

 

 

Hidden Diverence PDF by sRs guru:

 

http://www.4shared.com/enter.jsp?sId=iFVAFzB8sAbEDUXC&au=1

 

http://img188.imageshack.us/img188/3338/audusdd1.jpg

 

http://img838.imageshack.us/img838/3274/audusdh4.jpg

Edited by THANKS
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