Sunday, 3 April 2011

AUD/CHF, AUD/CAD, GBP/CHF, EUR/CAD

Hi guys!

I've had an active weekend with my son, hope you enjoyed your weekend too.

Now back to business, looking for another adventure in the far right!

I've changed my charts a little bit, as I find more suitable for me. On my charts you can see 800 SMA black (slash), 62 EMA (orange) and 200 SMA (blue). Also, regular bollinger bands 1 and 2 SD, and regular MACD. Nothing special.

I'll pay more attention to the candles themselves, then to the indicators and things on my chart - they should come second. I guess when we put them on the chart, we forget about the price. Indicator becomes most important thing on the chart. So we get a dizzy picture.

For this week, I found something that I will be checking.

AUD/CHF is forming a huge triangle. Also, he totally missed it's last weekly pivot. Break above or below the triangle will be the entry trigger.

GBP/CHF is also in a ascending triangle, pushing the price slowly up with higher lows. For entry, I will wait for price to break the triangle, targeting 1,53.

AUD/CAD I've marked a pin bar, which we could see as a trend exhaustion. Nevertheless, price is consolidating in a broadening formation. A break above or (as I personally think) below formation will trigger my entry.

EUR/CAD - If we put this two candles I've marked together, it would be a pinbar, also right on the trend support line and 200 SMA. I think this could be a reversal point, also looking that the pair have totally missed it's last weekly pivot, I would be entering long targeting 1,3850 and above, when I see MACD line above 0.

Wish you luck





No comments:

Post a Comment