Tuesday, February 18, 2014

Trading Week 17/02/14 (2)

Tue 18th Feb (9.15 pm)
I am travelling interstate on Wednesday and updates will be less frequent.

Tue 18th Feb (9.00 pm)
Open TS signal:
E/U: still holding above the 1.37 but only just:

New TS signal:
Kiwi:  the monthly pivot looks like a reasonable target here; at around the 0.82 S/R level:

Cable: watching for any pull back to the area of the 61.8% fib, monthly pivot and 4 hr 200 EMA:

Tue 18th Feb (8.05 pm)
EURX: there goes the EURX!

EUR/AUD: this looks to be making a bullish break from the broadening descending wedge. Also, another inverse H&S might be forming here. I am seeing them everywhere lately! I'm watching for any close back above the monthly 200 EMA:

Cable: GBP CPI data might dictate the next move here but any pull back might venture down to the 61.8% fib of the recent bull move. This is down at the monthly pivot and 4 hr 200 EMA for added confluence!

Tue 18th Feb (7.40 pm)
E/U: looking a bit shaky now. I'd be having a stop just under the 1.37 in case this turns:

Tue 18th Feb (5.20 pm)
U/J and E/J: both of these have triggered new TS signals BUT, as per my revision of last w/e, I'm not counting these signals as the signal candles were large and finished outside the Bollinger bands. I'm noting both candles with an 'arrrow' though and will track them;

E/J: this has made a trend line break on the 4hr chart and some may see this as a technical play from that point anyway:

U/J: price is trying to close above the monthly 200 EMA here but is struggling a bit:

Tue 18th Feb (3.30 pm)
Indices: The EURX is on the march. The USDX is still holding below the recently broken daily trend line. The USDX is also still trading below the Ichimoku Cloud on the 4hr and daily chart time frame:

USDX 4 hr:
USDX daily:


TS signals:
Cable:  this signal has now closed and we've had a test of the monthly 200 EMA. I thought we might have got more of a pull back here but was expecting a test of this level at a minimum. I'm on the lookout for any new TS signal here:

E/U: TS signal still going and holding above the 1.37 for now. I've been reading about lots of folks shorting here. I don't see any reason to do so yet. In fact, for now I'm seeing just the opposite: 

Metals: these have paused and are even pulling back a bit. I have 'fibbed' the latest moves to see if there are any confluence levels to look out for as being possible targets with this latest pause/pull back. Check the daily charts. For Silver: the $20.50 seems an obvious target but for Gold: it's not so clear. Maybe the 50% level at the $1,285 region? Even back to test the $1,255 seems enticing.

The metals are probably still waiting to see which way the USD is going to head from here though. Further USD weakness might help them to resume their bullish pathway but any USD recovery might help to trigger a deeper pull back on both. 

Either way: I'm keeping an eye on the fib levels, the USD and for any new TS signals on the 4 hr charts for both Gold and Silver:

Silver 4hr:

Silver daily:

Gold 4 hr:

Gold daily:

Yen pairs: these are on the march too after recent BoJ news. Note the trend line break on the E/J.

E/J 4 hr: The E/J is a favorite of mine and I've been stalking and trading this pair for some time. Note the daily trend line break here forming up now. This needs to be watched to see if price can manage to hold up and out from this trend line break. A new TS signal is trying to build too but I need my 5 pm candle to close first. The 61.8% fib is a MAJOR level here:

E/J weekly: I have been talking about the weekly chart having a bit of a bullish 'Bull Flag' look to it of late. This may be the 'Bull Flag' breakout I've been watching for. In all fairness, though, traders would really need to see where the weekly candle closes but I'm in on any new TS 4hr signal.

U/J: the major monthly 200 EMA is coming under pressure. A TS signal building here too:

A/J: a trend line being tested here too:

Aussie: I'm clearly not the only one watching the 0.905 level!

AUD/NZD daily: this keeps brewing:

No comments:

Post a Comment