Technical Templates

[hawkmoon]

I assume you (& others) got onboard as it moved away from the support?

it meets all the usual & minimum criteria for an entery, with a consistant trigger signaling the long bet at support.

[xerb]

Obviously Yen is still right up there on the volatility meter & the European crosses are still my favourite instrument of choice when playing this currency.

I'm currently looking to get back into nzd/jpy & either gbp/aud or eur/aud next week, depending on the sweeter set up & location.
Those 3 pairs have been good to me over the last 2-3 weeks using this slightly longer timeframe approach as you'll see if you scroll to that dual chart view with the stochs active on your platform & take a look.

Nice pullback into a common s&r zone on both usd/jpy & eur/jpy this morning during their local session guys.
As it took shape while I was sleeping I'll have to wait for another pullback, probably via the shorter trigger timeframes, but the hook on the 4H coinciding with a technical zone certainly put them up there at the top of the watchlist today.

[kipper]

Whipcrack/hawkmoon,
I've marked out this box as the next logical technical support on the pair.
It look like the next possible area to expect any kind of realistic bid activity to come in & slow things down?

I posted the above chart nearly 3 weeks ago & it's another one that's come home to roost into a previously plotted area of potential contact.
It was pointed out at the time that due to it's extremely low ADR it was more of a medium term bet than an intraday one, but they all stand up to the inspection of their respective technical behaviour nonetheless.

I know whipcrack has been playing this one, adding in on pullbacks & I've taken small nibbles at it throughout March.
The next realistic support zone on this pair, should this area fail to prop its descent, is the 1.0110-0150 zone, which represents the November 2011 lows.
So, for me as I'm sure it is for whipcrack (& hawkmoon), it remains a strong sell on rallies, as the accompanying moving average/stochastic/dominant price action bias confirmation chart clearly highlights.

[jjay]

Some nice simple, yet impressive analysis & pre-trade examples being submitted of late from you guys, which confirms how adept you're becoming at putting the straightforward concepts into action & running with it.

You're spotting & identifying the currency pairs displaying clear, visible bias & aren't having any trouble loading up the support & resistance zones ahead of time, but don't let the big, loud set ups get away & pass you by.

Aussie is the belle of the ball this week so far with the Chief Bank officials indicating a possible drop in rates going forward.
That has injected a pop in the volatility of that currency that can be picked up by betting the bias (via pullbacks & breakouts) on the clear trending GBP/AUD, EUR/AUD, that AUD/CAD pair that was mentioned earlier & the major (AUD/USD).

I know it's alluded to quite often on here, but it doesn't do any harm to repeat the obvious.....when you got a selection of currencies on your watchlist that are displaying clearly identifiable directional bias and/or are vibrating off pre-identified S&R zones, always go with the ones that are being heavily influenced & driven by heightened psychological (herd mentality) themes, however short lived.
Because that's where you'll engage with the higher volatility.........& that will offer you better bang for your buck

[West]

Jjay beat me to it but adding a chart wont harm. Dovish RBA comments coincided nicely with pre week high on EUR/AUD



Also been eyeballing EUR/NZD which has banked nicely off its pre week lows...

[Ray_1]

Obviously Yen is still right up there on the volatility meter & the European crosses are still my favourite instrument of choice when playing this currency.

I'm currently looking to get back into nzd/jpy & either gbp/aud or eur/aud next week, depending on the sweeter set up & location.
Those 3 pairs have been good to me over the last 2-3 weeks using this slightly longer timeframe approach as you'll see if you scroll to that dual chart view with the stochs active on your platform & take a look.

Nice pullback into a common s&r zone on both usd/jpy & eur/jpy this morning during their local session guys.
As it took shape while I was sleeping I'll have to wait for another pullback, probably via the shorter trigger timeframes, but the hook on the 4H coinciding with a technical zone certainly put them up there at the top of the watchlist today.

I had also triggered into USDJPY and EURJPY via the H4 stoch cross. Currently price is stagnant. As I had a med term view for these 2 trades, I hope these 2 trades can survive through over the week even though it is a heavily news packed week.

[zilly]

Nice helping hand on that usd/jpy trade courtesy of the FOMC this afternoon Ray
It's occurances such as these which add a nice bit of iceing to the cake!

All too often they go the other way, so it's nice to get one back every now & again.

[goldtop]

I'm currently looking to get back into nzd/jpy & either gbp/aud or eur/aud next week, depending on the sweeter set up & location.
The above 3 pairs + Yens are the only currency pairs on my radar next week.

Looks like the gbp/aud offered you a pretty solid green light to re-engage this week strobe.
I note that pair has only 2 negative day sessions in the last 14.
Recent shenanigans this week hasn't knocked it out of its dominant bias stride at all, & the pound is definitely stronger than euro at the moment, so I'm guessing you'd favor that one over the other v/s aud.

Are you entering trades exclusively off the 60 and/or 240m view, or still considering sub-hourly triggers but just running the trades with a different outlook & longer objective?
Taking a longer range view makes perfect sense though, especially on the crosses. One or two of those instruments can really get up a head of steam when conditions are favorable.

[strobe]

Looks like the gbp/aud offered you a pretty solid green light to re-engage this week strobe.
Recent shenanigans hasn't knocked it out of its dominant bias stride at all, & the pound is definitely stronger than euro at the moment, so I'm guessing you'd favor that one over the other v/s aud.

Yeah it's quickly turning into one of my favourite pairs to trade goldtop, due in part to the fact it responds very positively to the technicals & in my view anyway, offers cleaner set ups around pullback entry levels.

You're correct, the Pound is certainly in better technical shape versus the Aussie than the Euro. You only have to cast a quick eye over the eur/gbp pair lately to see that, which is what I do when considering potential entries involving these 2 currencies.

Are you entering trades exclusively off the 60 and/or 240m view, or still considering sub-hourly triggers but just running the trades with a different outlook & longer objective?

I'm not placing as much priority on the smaller timeframe triggers than I was previously, but I'll still take an entry based on the usual criteria if the normal trigger conditions are in evidence & marry up with the 60 or 240m confirmers. I definitely won't execute if the 15min is in conflict with the big hourly stochastics, or if the hourly stoch is showing an extreme reading.

Obviously my objectives will be at the mercy of what the market is prepared to offer, but my aim is to run my positions overnight wherever possible.
I have next upside resistance at the December 2011 swing highs, so hopefully if this leg has sufficient stamina we'll get to see how price reacts up there.


Referring back to my comment on the clean technical behaviour of this pair, I've zoomed out on a 4H chart to highlight the most recent previous swing zones from late 2011/early 2012 & marked off the reactions as price began establishing this bullish ascent off the February lows.

All of those pullbacks maintained a bullish slant, failing to negate the higher high/higher low stair-step trend structure, strengthening the resolve to only look for, & execute long entries where the usual stochastic/moving average confirmers suggested, including this weeks pullback off the 1.5450-70 area.

So buying dips remains my objective until the technicals turn over & begin signalling otherwise.

[kyle morgan]

2 to keep a watch on as prices are now beginning to encounter levels of prior activity.
eur/jpy has popped down through this area of previous support & resistance stretching back to February, pulled back & offered a classic 15 minute hook entry yesterday afternoon with the current 1&4 hour bias in London trade for those observing it.
Worth putting it near the top of the watch-list for any further continuation bearish behaviour in line with this weeks risk-off flavour.



The other pair knocking on a strong prior level of similar activity is aud/cad.
The current level in view is the first visit since December. Again, it's dropped through on a bearish bias, pulled back & is currently attempting to break back up to test this 1.0300 round number that marks the top of the previous support zone.