15 min data and we can track the latest downtrend from 25th May
note,,2 down moves
the latest one has some important areas to watch next week
1.1250-152 area prev supp and trend res/yellow horizontal
1243-145 trend and prev horizontal supp/green
these areas are relatively minor and could easily be broken
outlook for next week
we have a recoil in a downtrend with some areas to watch
trend res/red cluster at about 1268 area
horizontal res at 1258 area
trend /green and horizontal supp at 1248 area
then we have horizontal supp going down to 1240 area
look for signals to trade in those areas on a lower timeframe
these areas can get broken...if big news
eurjpy 15 min data from nfp numbers
0.060 box size by 1 reversal
hilo plot
we have visually optimised the box setting and reversal aswell as the plot method to show us the trend
45 degree trendline/red
now..this chart is a great example of where trades can be placed
1.note the breakdown points..lines are purple,yellow and aqua
on these support areas..we are waiting for a minor bounce and then trying to get in on the other side of the breakdown point...to keep the stop tight and the reward higher.slightly more risk
in essence that is what we are trying to do most of the time...pre identify the breakout point and then try and get in on the other side of the pattern
sorry folks..i missed the 1263 res area on weekend update
was busy with garden stuff...did a rush job with the chart
ok..so we broke to 1263 res area
so..price broke out/green horizontal res ,but a prev supp area/purple horizontal.we missed that on the last chart..see how you can see things when you adjust the settings !!
note above we have horizontal res yellow and aqua horizontal in 1266 to 1269 area
price has broken that downtrend..but needs to test the 50% area which is in 1272 area...fib specialist might want to alter that number slightly
trend supp and breakout point is in 1257 area if it tests and 1253 horizontal supp
spx 15 min
2 trends showing
note how we broke out at 5th june and then retraced on 12th june ...breakout point was support
makes life much easier when you have defined areas to work with.We bounced from this area
a closer look at that downtrend
5 min data
close plot
we got quite a reasonable bounce.ie it stuck to the trend/green
overhead minor res/trend and horizontal in 1940 area
eurusd hour data showing the downtrend that started on june 5th
if it bpouncesie a 3 box reversal..the print will be at purple horizontal..this might give us some res but also give us a clue if the bulls are taking contrrol
overhead trend res /red at 1.3554 area
basically ,we need to see a consolidation at 1.3550 area if there is going to be an upmove
