Learning to read Price Action with P&F Charting

audusd 4 hour
aussie dollar about to pump

dno64n.gif
 
as we head into non farm payrolls on friday..straight after 4th july holiday
looking at the dollar to see if any strengths or weakness happens
aussie dollar
2 hour data
why the aussie dollar....only one that shows a decent trend...eur and cable are too nervous
we watch this latest uptrend and the trendline areas for possible supp.note the black lines.that is where this trend could fail.breaks to new highs and we will follow this trend

21b3a5e.gif
 
LoL... I thought that was a chart of the ES... Pattern looks exactly the same.

Most of these currencies are so correlated or inversely correlated with the equities markets there really isn't any point in trading FX...

Cross correlation in global markets is so strong nowadays that when you chart one thing... It's the same signals half of everything else too!


Quote from dentist007:

some trends on the aussie dollar/30 min data
audusd
21oy82b.gif
 
eurusd
30 mindata
shows the latest downtrend
the purple line needs to get taken out for markets to want to rally
7 pip box sze by 1 reversal
hilo plot
jqrklk.gif
 
Back
Top