Posts Tagged ‘Breakout’
Cross Currency Analysis – A look At The Price Action Today.
The market gave an interesting technical setup today which may have escaped the attention of some technical traders out there. This brief post will look at the price action today and how cross currency correlations can be used to filter trades.
The three pairs below are [...]
Over the past few weeks, the USD/JPY pair has been trading in a fairly tight range for the safe haven currencies. A bottom had been put in near 76 after the Bank of Japan intervened in the currency the last time the Yen saw that level vs. USD.
So there were many questions as to whether [...]
It looks that I’ve been slacking ever since I posted Part 1 of How I trade series, because there are many topics to discuss and share. But here is the second article in the series and I really hope to dedicate more of my time in the near future and share some more info. Ok, [...]
Trending patterns like the NZD/USD’s Rising Wedge can be traded one of three ways and it all depends upon the strength of the (up)trend.
The daily NZD/USD has rallied through the uptrend line resistance of the pattern triggering a contnuation breakout entry long.
Chart pattern alert courtesy of Autochartist.
The first way – and this is my preference [...]
One of the more interesting use of patterns – especially when they are automated – is to consider the support, resistance, and trendlines they are made up of rather than considering the pattern as a whole. The reason for this is because sometime patterns develop and even trigger entries that are not necessarily appropriate/valid for [...]
Another good day for the Philippine Stock Exchange fellows. During awesome runs like these, it’s the best to take advantage of the opportunities the market gives. Many stocks especially blue chips rise but remember to lock up your profits and not be greedy.
Last January, I posted on Megaworld Corporation or MEG in the Philippine Stock Exchange and [...]
Price action on GBP/USD (a daily chart of which is shown) as of Tuesday (3/22/2011) has broken out to the upside to hit a new long-term high around 1.6400, nearly a 14-month high for this currency pair, also breaking the trading range consolidation that has characterized GBP/USD since early February. This occurs within the context [...]
Price action on Gold (a daily chart of which is shown) as of Tuesday (3/02/2011) has broken out above its previous all time high around 1430, which was just established in December, to hit a new all-time high tentatively above 1438. This occurs within the short-term context of a steep month-long uptrend. For more technical [...]
Price action on USD/JPY (a daily chart of which is shown) as of Wednesday (2/16/2011) has continued its rise after breaking out above a clear triangle consolidation stemming from the early November long-term low, and then subsequently breaking out above the 83.00 resistance level. For more technical analysis on this currency pair, please click here [...]
Price action on USD/JPY (a daily chart of which is shown) as of Thursday (2/10/2011) has tentatively broken out above a triangle consolidation pattern that has been in place since the 80.20 long-term low extreme hit in early November 2010. This break to the upside has hit and tentatively surpassed key resistance around 83.00. For [...]
