Best forex charts out there today

This is a discussion on Best forex charts out there today within the Forex forums, part of the Markets category; hi, guys here is my prediction on today with GBPUSD BUY If the price breaks resistance 1.61825 bullish movement will ...

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Old Oct 19, 2012, 9:23am   #151
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Re: Best forex charts out there today

hi, guys here is my prediction on today with GBPUSD
BUY
If the price breaks resistance 1.61825 bullish movement will start. The aim of such movement is the 1.62354, with the following move up to the 1.62964.
SELL
If the price breaks support 1.6039 bearish movement will start. The aim of such movement is the 1.60222 with the following move down to the 1.59912.
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Old Oct 19, 2012, 11:20am   #152
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread Hi,

It's options expiry today and gbpusd is clinging on to 16050 as that's the touted level.

I'm out of the market today with this and the euro summit concluding.

Dow and ftse have held up ok this week and we've seen strong UK retail sales and jobs.
If we can hold above the daily 50 ema today I will buy lows on Monday.

I'm looking for proof the big money is supporting the gbp first so I can follow the crowd next week.

Yen pairs have been good this week and so gbpjpy is under an apex in the daily so despite the sell yesterday I want to see if we can consolidate and push up through 128 next week. I've been a gbp bull all summer and I think these pull backs MAY be a good opportunity.

Have a good weekend.

Mike
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Old Oct 21, 2012, 7:41pm   #153
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread I'm waitng for the week to get underway as i think gbp will be a buy if we can dip to lower support levels. In the meantime I like usdcad on pb to 9875.

mike
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Old Oct 22, 2012, 8:54pm   #154
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread Yen is weak, one of the best charts is audjpy on a pull back to 82.10 for me tomorrow.

How's trading for you Guys?

Mike
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Old Oct 23, 2012, 9:27am   #155
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread BoE speaking tonight / UK GDP Thursday.
My plan for the #GBPJPY... Ow.ly - image uploaded by @TradeTheEasyWay (TradeTheEasyWay.com)
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Old Oct 23, 2012, 11:06am   #156
 
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Re: Best forex charts out there today

I'm interested in EUR/JPY at this juncture as it looks a better way to play any Euro strength than the EUR/USD, as it's attempting to make a Stage 2A breakout. It moved above the two year downtrend line yesterday and so needs to close the week above it for further confirmation imo. If it does, I'll look to play a medium term move back up towards the 110 level. Any thoughts on this Mike?
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Old Oct 23, 2012, 4:35pm   #157
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread
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Originally Posted by TradeTheEasyWay View Post
BoE speaking tonight / UK GDP Thursday.
My plan for the #GBPJPY... Ow.ly - image uploaded by @TradeTheEasyWay (TradeTheEasyWay.com)
It got close to 128 and dropped. Closed higher for 2 hours so I had a chance to move my stop to break even. Anyone who shorted did better than me. Bears took hold of the Dow and the US$ got bought along with the yen.

Will look at the charts tonight and pick my spots for tomorrow.

Mike
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Old Oct 23, 2012, 10:04pm   #158
 
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Re: Best forex charts out there today

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Originally Posted by isatrader View Post
I'm interested in EUR/JPY at this juncture as it looks a better way to play any Euro strength than the EUR/USD, as it's attempting to make a Stage 2A breakout. It moved above the two year downtrend line yesterday and so needs to close the week above it for further confirmation imo. If it does, I'll look to play a medium term move back up towards the 110 level. Any thoughts on this Mike?
this is pinched in the apex of the daily trendline and the support at 10325
we tested daily 8 ema today and closed just above.

Entry for me was the 60 min hammer at 5pm UK time.

Daily is not great with RSI high (don't like buying high), but if you're not in and think that major support will hold...

I would set order for 10327 with a stop under 10288....

in hope we move within the apex, the support gets bought and we burst out as we break the weekly resistance at these recent highs and run

Mike
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Old Oct 23, 2012, 10:19pm   #159
 
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Re: Best forex charts out there today

Quote:
Originally Posted by TradeTheEasyWay View Post
this is pinched in the apex of the daily trendline and the support at 10325
we tested daily 8 ema today and closed just above.

Entry for me was the 60 min hammer at 5pm UK time.

Daily is not great with RSI high (don't like buying high), but if you're not in and think that major support will hold...

I would set order for 10327 with a stop under 10288....

in hope we move within the apex, the support gets bought and we burst out as we break the weekly resistance at these recent highs and run

Mike
I like to buy breakouts at higher highs for my medium term trades as I want to be with the momentum of the move. So I think with this EUR/JPY one that I'm still looking for it to close the week above that downtrend line first before I do anything. So I have got a few days of waiting yet. But if it fails to breakout convincingly this week then it could be a good point to go short as is a major trendline.
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Old Oct 24, 2012, 9:42pm   #160
 
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Re: Best forex charts out there today

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Originally Posted by isatrader View Post
I like to buy breakouts at higher highs for my medium term trades as I want to be with the momentum of the move. So I think with this EUR/JPY one that I'm still looking for it to close the week above that downtrend line first before I do anything. So I have got a few days of waiting yet. But if it fails to breakout convincingly this week then it could be a good point to go short as is a major trendline.
eurjpy daily - lower daily close, holding a key level but gbpusd is a far better chart.

2012-10-24_2136 - MikeHamilton's library

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Old Oct 24, 2012, 10:45pm   #161
 
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Re: Best forex charts out there today

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Originally Posted by TradeTheEasyWay View Post
eurjpy daily - lower daily close, holding a key level but gbpusd is a far better chart.

2012-10-24_2136 - MikeHamilton's library

Mike
I'm not convinced as I don't like to try and pick bottoms. GBPUSD is in a short term downtrend and below the 50 day MA. It's relative performance versus the EURJPY has underperformed for the last 4 months. Long term it's outperformed since 2009 as you can see on the weekly RS chart attached, but it's got some work to do to recover in the short term as you can see on the relative performance chart at the bottom of the daily chart. Is not one I'd consider trading until it gets back above the 50 day MA and the down trend line. So that's above 1.615 at the moment.
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Old Oct 25, 2012, 12:24pm   #162
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread I've been a gbp bull since early summer and did a few interviews for Dukascopy saying so.

The gbpusd lows this week touched the top of the fib zone and closed above Tuesday open yesterday so any pull back today in run up to the data was a gift to me. GBPUSD has been throwing up buy signal since Tuesday morning (which I took).

GBPJPY was a good chart consolidating under a trend line getting ready to bust.

Main thing is we both achieved profits, so on to the next chart. (GBPAUD).

Mike
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Old Oct 25, 2012, 1:52pm   #163
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread long eurusd from 12975, stop 12955 target 132

Mike
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Old Oct 25, 2012, 3:48pm   #164
 
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Re: Best forex charts out there today

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long eurusd from 12975, stop 12955 target 132

Mike
stopped out, will just watch for now.

Mike
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Old Oct 26, 2012, 9:12am   #165
 
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Re: Best forex charts out there today

TradeTheEasyWay started this thread US GDP at 1.30pm today so...

gbpjpy - 60 min

This is a pull back to a very powerfull break out in the daily
but this level is crucial, if we can't close above it we could drop.
This market may need to rest / drift lower.
Besides, dow futures sold after the cash close last night and has opened weak with eurusd not holding so the appetite for risk is off at this point.

If we close above 12885, I will buy pull back and hold into next week.

I'm watching eurusd for signs market might reverse.

Mike
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