[theTechnicals.com] – One of the most logical, straightforward, and effective approaches to trading financial markets using technical analysis focuses on multiple charting time frames.
For example, a trader might begin by looking at a longer-term chart like the daily chart to determine the overall direction of the trend, if any. If a decisive trend is in place on the longer-term chart, the trader may decide to trade only in this direction if there is a concrete opportunity, while staying out of trading any currently non-trending markets. CLICK FOR MORE →
[theTechnicals.com] – May 17, 2013 – Free Forex Trading Signal
USD/JPY – Long at 102.32
Initial Stop Loss at 101.80
Initial Profit Target at 103.10
Reward/Risk Ratio: 1.5/1.0
Rationale: Short-term trend pullback opportunity on 30-min chart CLICK FOR MORE →
[theTechnicals.com] – The accompanying charts show how you can use multiple markets to increase the probability of your forecasts. From left to right is a monthly chart of the gold futures continuous contract, a weekly chart of EWJ (the Japanese ETF), and a daily chart of the E-mini S&P 500 futures contract. The lines on the S&P chart are the same resistance levels created in a previous article which used the 1535.20 level, but with all the boxes and Fibonacci retracement ranges removed in an effort to clean up the screen. CLICK FOR MORE →
[theTechnicals.com] – The daily chart of Goldman Sachs (GS) is showing price having just broken out yesterday after consolidating just under a key confluence of resistance around the 151.00 level. This confluence included both the horizontal resistance level as well as a downtrend resistance line extending back to the February 159.00 high. The downtrend line represented a bearish correction within the strong bullish trend extending back to the July 2012 low at 91.15. CLICK FOR MORE →
[theTechnicals.com] – The daily chart of GBP/USD is showing price having just dropped down to a key support confluence that includes both the 1.5250 level and the current position of the 50-day simple moving average. This occurs as the strong bearish trend that began in the very beginning of the year has begun to reassert itself after price made a substantial 50% bullish correction within the past two months. This bullish correction brought price up to the major 1.5600 resistance area (which is right around the 50% Fibonacci retracement of the plummet from the 1.6300 area in the beginning of the year down to the 1.4830 level in mid-March). After that correction, price has fallen precipitously in the past several trading days to break down below both the key 1.5400 level and an uptrend support line drawn from the mid-March 1.4830 low. CLICK FOR MORE →
[theTechnicals.com] – The monthly/weekly/daily chart setup of the USD/JPY currency pair shows how the target zones in the shorter horizons have a relationship to the zones in the longer horizons. The 91.12 support level in the daily chart on the far right is the result of 3 overlapping Fibonacci ratios from subdivided ranges with the starting and ending points marked on the chart. The box relationships in that chart confirm that it is the appropriate zone to use as the midpoint of the developing rally. A box projection is taken from the midpoint to the bottom of wave 2 in the weekly chart and projected upwards giving us a target for the end of a third wave at 105.12. We see this same price level coming into play in the monthly chart where there is a major resistance zone at 105.79-106.13. The analysis is nullified if price breaks 91.12 before reaching the target, and the currency pair would then require a reevaluation. CLICK FOR MORE →
[theTechnicals.com] – The daily chart of AUD/USD as of May 10, 2013 shows price having finally broken down substantially below its long-term trading range between 1.0150 and 1.0600, and has plummeted further to sink below parity (1.0000). CLICK FOR MORE →
[theTechnicals.com] – Labeled are some Elliott wave counts on the monthly, weekly, and daily charts of the S&P 500 E-mini futures contract.
The monthly chart shows the first three legs of an expanding triangle labeled A, B, and C. We are currently in the D wave portion which has been running since the March 2009 lows. CLICK FOR MORE →
[theTechnicals.com] – I will make this very simple. The negative divergence is likely to submit the Dow Jones into the hands of the market bears much sooner than you may think despite recent gains. I am using the ATR to calculate my protective stop (300%). I am perfectly aware of the Fed monthly purchases but the graph says otherwise. CLICK FOR MORE →