This is a chart update to the Former Private Post 003.
Price action in effect formed a small bearish bat, as expected, but then it went on higher and touched the point X of said fractal. No biggie, it happens very often to this pattern, to form a double top that now is a strong resistance to the upside. With that spike up I consider wave b of B completed, and we are heading down in wave c of B to the low 1.02, maybe even dipping below briefly. I expect that to happen in days, not hours. The most likely day for that is Monday of next week, we’ll see.
”always an apprentice”
fxaprendiz RSS feed- Almost, but not there yet November 28, 2009Last week was an interesting one in terms of Fibonacci fractals. Of 5 markets I’m following 3 seem mature for a turn, but 2 are still in the process and may drag the mature ones for some weeks: USD Index: Monthly Gartley and Weekly Butterfly pretty much done forming. (not confirmed completely by price action yet) USD/CHF: [...]
- Euro’s turn October 29, 2009The exotic butterfly in the USDCHF has a partner in the EURUSD chart, not so exotic but equally effective: a deep crab. NOTE: The chart is in the 1hr timeframe. My mistake labeling it 4hr… And here again the Schaff indi confirmed the reversal by crossing the 20-30 lines, and again with a lag from the fractal [...]
- third time’s the charm October 29, 2009There is a third fractal in the USDCHF; however is not any of the usual patters. Let’s call it an “exotic” butterfly. What makes it different from the other butterflies? The B point. While the regular butterflies have a B point ranging from 0.618-0.786-0.886 XA Fib, the “exotic” butterflies have this point in the 0.382-0.50XA ra […]
- Almost, but not there yet November 28, 2009
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- Ichimoku Learning: How to trade Stocks January 1, 2010Ichimoku is perhaps the best tool in Technical Analysis when it comes to find the Support and Resistance in market. The good thing is that it gives extremely clear signals of when to enter or exit from a Trade and also when to hold your Investments (as you can see in the Chart). In this particular [...]ichi360
- Ichimoku Learning: Cloud bound Zigzag Pattern January 1, 2010I took a Scalping Trade last night (my night, since I’m in Australia, it should have been your day if you’re based in US / EU) on NASDAQ Future Index and thought to post the chart to explain more about the Ichimoku Patterns I’m studying / researching these days. I’ve posted this particular Pattern earlier as [...]ichi360
- Trade Updates: USDJPY Critical Stage December 31, 2009Super Critical Stage for USDJPY, it has just arrived at the previously identified level of Resistance. If the Resistance is not cleared, its time to Book Profits on the existing Long Trades …ichi360
- Ichimoku Learning: How to trade Stocks January 1, 2010
