Trading Excellence

Quite a busy schedule today. I will post piars comments later today, but regarding oil charts, I use one brokers charts.
It is strange sometimes the patchwork of tools used in trading. One of the priciest brokers I have, has one of the finest free-charting packages I've seen.
Following are 3 links that have charts, but not very good, except for the forex-markets site link, I used before when needed to do everything for free:


http://www.livecharts.co.uk/MarketCharts/crude.php

http://futures.tradingcharts.com/chart/CO


http://www.forex-markets.com/

:cool:
 
Quote from FXAnalyst:

Another pulse up is probable but need to rest before re-analysis.

I liked the breakout down on the G/CHF today. Caught some depreciation tonight after missing it earlier in the day. I exited then missed the rapid bounce back up. Trying to kick the multitasking habit. I miss too much movement.

300.00/barrel oil? Know any good oil charts? Need high prices so that the Saudis can buy U.S. debt. It's a tradeoff apparantly. So say the rumors anyway.

AUD/U - I suspect it's primarily commodity driven at this stage. Watching for a larger technical turning point.

U/CAD - Another commodity driven pair, I need to look again at technicals but am nearly finished for the day. :cool:

Yes, it's interesting. I've been fairly busy with other business but have followed to a point. There seems to be a technical pattern for these larger moves when observing the 1 day candles. Elliot Waves are happening. Just went through all the charts briefly and will examine again for more thorough analysis. At this point larger trends on majors doesn't appear quite ready for a huge retracement yet although a sizable one is underway on some but temporary. On AUD for example there's an ABC down happening from aboive 9450 with A of ABC done and B up happening if I'm reading it right. Bought up for a few pips from 9375 and am out just now. Over and out in fact.
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So on AUD, A down was actually ABC down in a less than clear pattern. Caugth the breakout up while waiting to see if it was going to double top and come down in C. Target of 4500 unless the pattern stalls. With the strength of this trend there is no sign of stalling for a major reversal at the moment.

Daypattern for other majors is to finish daytrend although the U/J seems ready for a bounce at 105.45-8 for maybe 25 pips or so conservatively. Enough to move stop to 0 probably.

AUD/NZD if finishing its upthrust temporarily and should bounce off 1645-50 area to drop significantly before resuming uptrend. The A/N dropping from 1650 area could be accomplished by NZD/U rising faster than AUD/U later today. If NZD/U trade balance comes out better than expected at 4.45 Eastern today then that would cause the expected pattern move on AUD/NZD
:cool:
 
Quote from FXAnalyst:

So on AUD, A down was actually ABC down in a less than clear pattern. Caugth the breakout up while waiting to see if it was going to double top and come down in C. Target of 4500 unless the pattern stalls. With the strength of this trend there is no sign of stalling for a major reversal at the moment.

Daypattern for other majors is to finish daytrend although the U/J seems ready for a bounce at 105.45-8 for maybe 25 pips or so conservatively. Enough to move stop to 0 probably.

AUD/NZD if finishing its upthrust temporarily and should bounce off 1645-50 area to drop significantly before resuming uptrend. The A/N dropping from 1650 area could be accomplished by NZD/U rising faster than AUD/U later today. If NZD/U trade balance comes out better than expected at 4.45 Eastern today then that would cause the expected pattern move on AUD/NZD
:cool:
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U/J did bounce but only a dozen and now is lower confirming the trend is a trders friend.:)
 
Yes, U/J, Aussie and U/Chf were probably the best bets since stockmarkets are continuing downslide, plus fed comfortable with further rate cut, and we have the best of both worlds to go aginast the dollar, in carrytrade settings.

I'm still in E/U and loonie and still believe this is one of those momments where a lot of money is made - daily timeframe trending.

My thinking is there will another confiration for markets trending next week. So my scanning will focus on next week's start to confirm the ride!


Links for oil charts work for u?
 
Quote from Galactisol:

Yes, U/J, Aussie and U/Chf were probably the best bets since stockmarkets are continuing downslide, plus fed comfortable with further rate cut, and we have the best of both worlds to go aginast the dollar, in carrytrade settings.

I'm still in E/U and loonie and still believe this is one of those momments where a lot of money is made - daily timeframe trending.

My thinking is there will another confiration for markets trending next week. So my scanning will focus on next week's start to confirm the ride!


Links for oil charts work for u?
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Yes, thanks. I wanted to check the Elliot Wave progression on Oil and a few other things and the links have helped given a basic idea of that.

Still being mainly a technical trader, I continue to gravitate towards considering fundamentals although reading commodity charts to determine the E.W. pattern there so that commodity influenced currency travel is better understood is hardly fundamental.
:)

News deviations does seem to work well with technicals if they both agree. I have seen where for swing trades that when news and technicals are at odds then technicals appear dominant.

The week should be interesting, possibly rendering some trend hesitation/reversals as seen on the U/CHF bounce up from 0307 for example.
 
As of 1/2 and hour ago the AUD/USD dropped rapidly on interest rate news and EUR/AUD shows an confirmed unfinished Elliot Pattern up to go further after pullback is finished, currently still above 6300.

The AUD USD appears to have hit serious resistance at about 9300 and likely target of 9345 is withing reach, currently 9317

USD/CHF will have news out later that may help determine how the pattern will continue. It appears to have done a conservative ABC up this week so far and could be done and resume larger trend or extend into a larger ABC up.

At the moment I'm wanting confirmation on AUD direction having scalped with a buy at 9300 and taken all the position off the table when some could have been left on for possible greater retracement soon than above 9320.
 
AUD has broken down and expected to bounce at about 9270-75 finishing a larger ABC down from the high of last week. The expected bounce area is worth leaving a partial position in for much higher possibilities than current levels... target possibly eventually above 9450.
 
Quote from FXAnalyst:

AUD has broken down and expected to bounce at about 9270-75 finishing a larger ABC down from the high of last week. The expected bounce area is worth leaving a partial position in for much higher possibilities than current levels... target possibly eventually above 9450.
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A much closer target is in the 9300 area for a short term trade from 9275.
 
Eur/Usd


Clear trend now! But still waiting to see how high it might go.


U/Cad

Today is Canadian central bank decision day! The daily timeframe still provides more trending signals than reversal. But in my view i think we've reached that threshold: break-down or res«verse up.


U/Chf


Unbelievable run, but in my trading system to have gone short would require taking more risks as there was uncertainty about where would stock prices go next. ´When stocks decline I really like this pair.


Focus or Diversification

There is and always will be a contentious debate between focusing on some markets or diversifying, playing various at the same time.
I used to do various but as of lately have been more inclined to start focusing on 2 to 3 markets, cause this way can trade using pyramiding, which is very important and effective!
There is a saying in trading that we should not only focus just on the tree, but also in the whole forest. Well I just read a very interesting extension of this saying: "one ought to know also the small details of the tree", which trees give fruit, when, how can we distinguish which trees are of interest or not.


Cheers!:cool:
 
U/Cad currently 9940, if not near newstime I'll think of buying if it hits 9900 or near there for another pulse up to double top recent or possibly higher. It's late in the trend pattern though so could fail to exceed recent top if I'm reading the Elliot Waves well enough. A clear breakout above 9975 without prior pullback first would expectantly fizzle about the 1.0000 mark.

I've been trading the AUD/USD with success in recent days. It seems to have a Elliot pattern down that leaves a target of about 9200 unless the waveset falters.

"Buy on dips with an uptrend and sell on peaks with the downtrend" is the advice one veteran trader gave me. To know when the bottom of the dip is and top of the peak is to Master trading it seem.

Lots of news to come for the later part of the week. I havn't spotted the ideal swing/position trade for the week yet. That may happen by tomorrow U.S. news.

:cool:
 
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