Compare & Contrast with Christopher Lewis

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AUDJPY

The weekly trend has been bearish for seven weeks now. This is going against the trajectory of the monthly and four-month price flows, which are both still bullish.

At 93.00, the Aussie dollar-Japanese yen closed below the lower level of the projected weekly price range on Friday, with the projected two-week price range about 80 pips lower, down at 92.19. (You need to check as soon as the market opens next week to see where to set the fresh levels.)

If this pair falls another 300 pips, to around 90.11, it begins running into some monumental support levels, which will make it a stupendous buy candidate if and when the weekly candlesticks turn north.

 

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At 93.00, the Aussie dollar-Japanese yen closed below the lower level of the projected weekly price range on Friday, with the projected two-week price range about 80 pips lower, down at 92.19. (You need to check as soon as the market opens next week to see where to set the fresh levels.)

My daily chart calculates two-week support just 67 pips away, at 92.33 (instead of 92.19) down to 88.52, so my inclination would be to wait to buy this pair. Even though the weekly trend is bearish, price is nonetheless IN the weekly buy zone already, which began at 93.29 and extends down to 91.67. (Again, this will need to be adjusted as soon as the market opens to begin the new week.) Consequently, bearish or not, this pair has a lot more room to rise than it has to fall.

 

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In brief, AUDJPY is NOT exhibiting an ideal structure for trading. I could write as much about all the other pairs, just to come to the same conclusion, which would not be a very fruitful way to spend my time, especially since I no longer need to write this stuff down to register these measurements in my mind.

So, the question becomes, are there any pairs the MIGHT make halfway decent trade candidates? From my perspective, the closest is USDCAD. It is presently below a bullish four-month baseline, has come close to, but been stubborn about actually making contact with monthly support levels, and after seven weeks in consolidation, looks like it could be making an attempt to break out to the north.

The only other pair is USDJPY, which looks like it might be bouncing off support in the form of the four-month baseline such that the weekly trajectory would be rejoining the monthly and four-month pushes to the north. Though I would prefer to see price below the four-month measure, with candlesticks experiencing rejection at monthly support down around 133.90, if the pair wants to go ahead and turn north now (@ 141.72) then so be it.

 

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The only other pair is USDJPY, which looks like it might be bouncing off support in the form of the four-month baseline such that the weekly trajectory would be rejoining the monthly and four-month pushes to the north. Though I would prefer to see price below the four-month measure, with candlesticks experiencing rejection at monthly support down around 133.90, if the pair wants to go ahead and turn north now (@ 141.72) then so be it.

USDJPY is headed SOUTH on the daily charts, and it doesn't hit (current) projected 48-hour and four-day support until down around 138.10. (In other words, it is not yet a buy given its current structure.)

From my perspective, the closest is USDCAD. It is presently below a bullish four-month baseline, has come close to, but been stubborn about actually making contact with monthly support levels, and after seven weeks in consolidation, looks like it could be making an attempt to break out to the north.

USDCAD is at what I consider to be a support turned resistance level on the daily chart. Consequently, if it can break through to the upside, I will have every reason to believe that the bullish day-to-day push to the north is truly continuing...

 

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USDJPY is headed SOUTH on the daily charts, and it doesn't hit (current) projected 48-hour and four-day support until down around 138.10. (In other words, it is not yet a buy given its current structure.)

USDJPY

Not that it wasn't already on your charts, but seeing as how you initially overlooked the daily trend countering the weekly price flow, I wanted you to have a (daily) chart that focused on this specifically.

In configuring it, it became clear that you would have to use your own proprietary indicators to help ensure accuracy. Now that the chart is in place, here is what it suggests...

USDJPY is not projected to go below, 140.95. If it does, it becomes a strong buy immediately upon reversing north. The absolute bottom of the barrel support level is at 138.84 (not 138.10). If it crawls below this level, it will have to be assumed that the pair has changed sentiment and is making a fully-fledged bearish reversal (yet, no action should be taken until this is confirmed/validated). In short, be on the alert to buy USDJPY in the next two or three days.

(138.10 is more like the 48-hour temporal support level. But, seeing as how it is temporal in nature, this measure could very well rise with the passage of time.)

You need to make a checklist of the charts you have to check at least daily (most more often than that) so that you don't overlook any. Begin compiling this list below:

1. One-minute General Flow on the Scandinavian Capitol platform
2. One-minute VOLATILITY TOO HIGH with 60-Minute Price Range
3. One-minute SCALP
4. 15-Minute THE ARBITER III
5. 15-Minute HOURLY TRAIL
6. One-hour Daily Trend Pullbacks
7. One-hour ONE-DAY PRICE FLOW IS EASY TO SEE with BOUNCE LEVELS
8. One-hour Trend with 2-Hour Reversals
9. One-day Direction is Easy to See

ADD THIS TO YOUR LIST...
One-Day Weekly Price Range and Flow on Daily Charts

 

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GBPJPY

At 181.82, the Cable-Yen has reversed its two- and four-hour tends from bearish to bullish, and it appears that the eight-hour trend might be on the brink of doing the same. Seeing as how the 16- and 25-day price flows have been bullish ever since March and May respectively, if tomorrow sees the formation of another green daily candlestick (reversing the daily trend to bullish as well) it might warrant the entry of a long position (though I would much rather have been able to enter down at the four-day support level in the vicinity of 178.46).

It's worth noting however that this pair has essentially gone nowhere for almost two months now, but if it starts heading north again, it could potentially do so for quite an extended run.

 

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TEST THIS OUT...

For the kind of trading you have drifted to by the currents of favorable outcomes (in the funded trader program environment), see what happens if you conceptualize the two-day price flow as your overriding measure.

 

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For the kind of trading you have drifted to by the currents of favorable outcomes (in the funded trader program environment), see what happens if you conceptualize the two-day price flow as your overriding measure.

In that you have begun to raise the stakes per each trade significantly, I believe the use of the structure/configuration below will be of significant benefit seeing as it appears to have the potential to highlight winning entry levels the vast majority of times and get you in and out of positions relatively quickly with a decent (if not totally optimized) amount of profit...

 

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Where do your various daily charts calculate super duper resistance for AUDUSD?

0.6272
0.6265
and
0.6200

What about your weekly charts?
0.6059
0.6050
and
0.6011

(Yikes! That's a 200 pip difference.)

What about your monthly charts?

• AUDUSD dropped below this general neighborhood in March of 2020, but then rose back above it in April and the rest of the year.
• It crawled down here again in October of 2022, but then climbed back above it by the end of the month. It continued to climb during November, December, and then January of this year, but in February it resumed its descent until it returned to where it is now.
• At 0.6382, it has ALREADY reached the floor that my one-month charts calculate as monthly support (i.e., the bottom of the projected monthly price range).