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Friday November 7th, 6PM: http://www.meetup.com/Chicago-Traders/events/214069802/

A hammer bullish reversal pattern formed on yesterday's USD/JPY chart. Resistance overhead around 94.373. This reversal is taking place within the context of a strong uptrend on the daily and weekly charts. Keep in mind some important fundamental factors are in play. A two-day Bank...

I think you're right in that in the case of an ascending triangle you should expect the breakout to the upside to have more follow through because you are in the context of an uptrend. However, I don't think it's bullish until price breaks out above the horizontal trendline. A failure to...

Looking at the daily GBP/JPY chart we can see that it found resistance at the horizontal trendline of it's ascending triangle pattern. The divergence between the uptrend in price and the downtrend in the RSI momentum oscillator suggests a possible bearish reversal. Chart courtesy of Oanda

Agreed, just above Friday's high...

Looking at the daily chart a bearish shooting star pattern formed on Friday: Zooming out we can see some major trendlines that could form support: Also worth noting that MACD crossed the zero line from positive to negative...

Gold back at 6-month highs after Bank of Japan stimulus - Looking at the daily chart we can see that Spot Gold (XAU/USD) is trading right at resistance of the major downtrend line and also that MACD is close to the zero line. Chart courtesy of Oanda

Gold is trading lower for a fourth consecutive day amid concerns over the Eurozone Debit Crisis. Looking at the daily chart we can see that it has slipped below the 'line in the sand' 200 period moving average on the daily chart: Chart Courtesy of thinkorswim Price is not far from...

The Australian Dollar sank early Monday as it's biggest trading partner China said it will lower its target for economic growth to 7.5% this year, down from 8 percent, the lowest goal since 2004. Chart Courtesy of thinkorswim Meanwhile, the perceived safe haven of the the Japanese Yen...

While USD/JPY managed to cross the important psychological level of 80, it is also right up against the resistance of the 50% retracement level of the April to October swing high/low. Chart Courtesy of Oanda

Right, that's the logic; Chart courtesy of Worden Technically the bullish breakout case is stronger I think, but it is dampened of course looking at the broader context of the market we are in (S&P 500 has worst Thanksgiving week since 1932!)

An Inside Bar is a bar which is completely within the range of the preceding bar, indicating a period of indecision or consolidation. If an Inside Bar is found at the end of a prolonged downtrend and is located near a level of support, it can signal a possible reversal in trend. The Japanese...

Interesting to take a look at the Dow chart with a long term perspective, in this case the monthly chart going back to 2007. The 38% retracement of the swing low to high appears to have come into play at 10,482, and beneath it lies the 50% retracement at 9,767 and the nearby 200 period SMA...

Interesting, that's the first time I've come across the Speculative Sentiment Index, I'll have to take a closer look... We certainly got some EUR/USD downside follow through in the London session so far, along with weakness in US stock index futures.

Looking at the EUR/USD chart we can identify the recent bearish 'Death Cross' and the key nearby support levels of 1.3141 (the recent low) and below that the 61.8 Fibonacci retracement of the swing high to low at 1.3047. Chart courtesy of Worden

Tuesday, July 12, 2011 at Ceres in the CBOT, for details see: http://www.chicagotradersgroup.com/events/22306241/

We're having our June meetup this coming Tuesday the 14th at Ceres in the CBOT, for more details see: http://www.chicagotradersgroup.com/events/20383981/

This month we're meeting at the Elephant and Castle on Adams, details here: http://www.chicagotradersgroup.com/events/16768942/

Started a meetup group for Chicago Traders earlier this year. We meet about once a month, usually downtown. We also have seminars and presentations periodically - last week the folks from Wave59 were in town to make a presentation to the group. You can see our meetup site here...

Earik Bean made an interesting presentation in Chicago last week to our meetup group which you can view here: http://www.youtube.com/traderslog#p/u/2/Jxd0o7sbjBU the video covers some of the technical indicators used in Wave59, mechanical trading systems and Hive Technology.