you asked what I used them for ....The .....BB.....are for entry exit and trend trading..... if you look at ta-fools big chart posted yesterday....the cot portion you will see something a similarity....what if the top line was the euro and the bottom the dollar......here is a 5 min chart what is it tellin me to do? Attachment 136278
Great looking charts - I was long too!! Soon time to go short.
I see that USD/CHF is moving in a monthly downtrend channel and can’t breakout the monthly-EMA50. This time monthly-EMA50 is just 600 pips above current price and we’ll might see a breakout. In that case, we can easily see an approach of the downtrend channel’s resistance.
In the past USD/CHF approached monthly-EMA100 and EUR/USD overlay. Seeing that USD/CHF is moving now in a small uptrend channel, it’s very possible an approach of monthly-EMA100. In that levels EUR/USD will be in the area of 1.1100. Adding on that EUR/USD already moves in a weekly downtrend channel from 1,4500 highs, it’s possible enough to see 1,1000 levels in the end of 2012.
Last edited by ThomasNotas; 07-01-2012 at 06:57 AM.
I have restructured this to be shorter. The idea behind it is to keep a running 'storyboard' from big picture to 'little' picture to set up the week ahead. I do not trade off these charts, but keep the storyboard in the back of my mind when I work off the short term charts.
But not from here i prefer last leg up between 1.27 and 1.2720 , it could extend to 1.2770/2800 but , i will start short 1.2710 .
so i m in small long stop 1.2570/50
Banked short now - nice haul. Now at the daily pivot and both 10min and 60min SMI ready for honouring the bullish wave. Also waiting for a final poke up to short again (in fact covered with long) as 240min SMI already ready to roll over when price is right - underbelly of that channel above up from 1.2287?
Good luck Yasser.
Last edited by Clivewaverider; 07-02-2012 at 09:05 AM.
My shorts are banked now, so naked long after this morning's short strategy. Have moved short cover to 1.2548 and hope longs will fill the regression channel above. Wave has been in a consolidation move all day and hope for something impulsive to put some space between. 60min SMI looks ready to follow through to the upside and 240min SMI not weakened too much on this recent decline.
On the monthly PP 1st of July, many pairs have retracted to a much smaller distance apart, less pips in-between S1 and R1, could this be a sign of consolidation? Any ideas anyone? fficeffice" />>
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Originally Posted by Fx(MIA)
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