Blog Archive

Monday, June 14, 2010


Midnight update:

Here is the /es and a possible route to the top.

Market recap:
I hope you read my Sunday post.

Fibonacci Financial - It's like GPS for the markets.
Hey I like that, I might keep it.

DDF had a Neutral Bias and today did too.
Hmmm, good call Clayburg!

Just like I said we found resistance at the 200 day MA, and 1105 area where I also told you about strong resistance from the Chikou-Span at 1105.

Straight up or a sideways slither - It's hard to say how Price will find the top tine of the downward yellow fork, but I have a feeling it will. I just hope Price doesn't break that big fat green line.

Today's Black candle is almost a Doji. It is a good sign for the Bears especially with that long shadow, but it's no star so in the end it's just another day.

That gray area is my alert range which is real close to the Tenkan-sen and Kijun-sen. Both will provide support / resistance. The hourly Kumo will also offer support at 1074. Hey wait a minute, that's right close to that yellow fork. What's up with that?

So I'll bet you're wondering if the Bears will follow through. Let's have a look at the indicators.
Holy Standard Deviation Batman!
See those little squares with red % figures? That's the relative overbought/oversold condition of the indicator. Nicely positioned in the overbought range, and I see red and down arrows. Put that together with long shadows on the hourly and Daily candles, and I'd say we are looking for a small dip to 1070 area before heading back up.

What's that! Small dip and back up?
Yeah, the Daily charts are not so over bought.

Heck the Daily indicator are just coming into their curve. I doubt we're going to stop this puppy just yet.

I'll leave you with my latest indicators based on Williams AD and Williams %R.

Purrrdy ain't it?

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14:42 ET
Ask if you would like help understanding and interpreting these charts

10:30 ET

I've used the Williams AD with currency to determine overbought and over sold for quite a while. Yesterday started fooling around with some different ways of looking at it with moving averages. I wrote these studies yesterday.

The Williams %R is easy to understand, but the Williams AD chart shows something I think is kind of interesting. The large cloud is divided at zero and shows the larger trend while the small oscillations along it's edges indicate short term trends within the larger trend.

If I get the time today I may add a standard deviation cloud to see what that shows.

12:12 et
Well I couldn't leave it alone. Here's the standard deviation version. I think I like the original best

Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.

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