EURGBP 11.27.11 second senario

 

Should the top side occur instead of the down as posted in my prior post of EURGBP, there is an AB=CD pattern showing itself with D at resistance.  Whether the chart moves to the downside or upside a trade should make itself present soon.  

EUR/GBP 11.27.11

EURGBP looks maintain its down trend channel.  It is forming a Bearish Head and Shoulders patters.  The right shoulder started to form and retraced after striking the 0.500% fib retracement.  Assuming a neck line break, the  next low may be in the 8200's signified on the chart by the dashed line. 

USDCAD

I understand the USD is in a big bull run, but it is still nice to know where potential ceilings are. I am not calling a top here, simply suggesting that USDCAD may pullback when it meets1.04570 creating an opportunity to long the dollar again should this move up remain bullish.

ICHIMOCU INFORMATION
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:ichimoku_cloud 

GARTELY INFORMATION
http://www.investopedia.com/terms/g/gartley.asp#axzz1elOaN1OL

AUD/NZD

The 8hr H&S pattern didn't come to fruition, but the daily chart of AUDNZD posted on Nov. 2, 2011 showing  significant areas of resistance has come to life.  If you look at a weekly time frame a lager bearish H&S Pattern is forming.

AUDNZD follow up to the 11.11.11. chart

AUDNZD broke the 61.8% retracement. However it found resistance at the 78.6%.  I hope to see a neck line break this week and a downside tot he 1.29000-1.27000's

It looks like AUDNZD is forming a right shoulder on the 8hr chart.  The resistance area in my prior chart was never breached. Should we exceed the 78.6 retracement, we may actually hit the resistance area (noted in my prior chart)before descending. A break below 12936 should send us to the mid 12700''s.

EURUSD 8HR FOLLOW UP TO THE 11.2.11 CHART

It looks like the 0.500 Retracement held resistance on the right shoulder as predicted. Then the chart broke the neck line.  It seems to be continuing down. Perhaps it will break the prior low around 1.3100's?

Thank you Resistance!

GBPNZD 8hr chart.  Have we found a top?  Trend line resistance and it hit the 78.6% retracement exactly....

GBPUSD 1HR 11.2.11

GBPUSD 1hr head and shoulder pattern.  We seem to have broken the neck line, how much further down will it go????

AUDNZD Daily

AUDNZD is coming up to a significant point of resistance at 1.31839.  You will see on the horizontal line drawn, there are many areas where the chart has retreated from in the past( noted by the red and blue arrows).  Also, there is a 61.8% retracement in the same area when drawing the Fib  tool from the high of 1.37020 and the low of 1.23175. 

EURUSD 8HR 11.2.11

We may see EUR/USD retrace to the upside, I think it will retreat at the 50% retracement, but the 61.8% a reasonable place for a retreat as well.  you will also notice a small head and shoulder pattern is starting to form.  The right shoulder is beginning to form.

I am posting the AUDNZD chart yet again, but my only purpose is to vent some thoughts on the Gartley Reversal Patters. 
I felt this recent chart was a good example. 
Many people make trades using this particular patter and will post the outcome after the chart soared or declined a significant amount, which creates expectations that do not always occur. 
For instance, the chart of AUDNZD hit point D almost perfectly and a sell occurred.  There was a 100+/- pip decline from point D, which in my opinion is a decent trade made in the FX Market.  Some people will expect larger gains on one pattern and then lose out on profits.  This chart only retraced to a 27.2% retracement after point D was hit and then soared. I have seen people suggest this is a failed pattern, but the reality is, it worked.  So when trading it seems one should either accept the risk and let it ride or take reasonable profits and move on.....

GBPJPY, may see a break to the 119's should a break below the lower line of the pitchfork occur.  AB=CD at 119.43 and the retracement from A to C and B to D are harmonic and spot on.  C hits the 78.6% retracement exact and couldn't break through after a few attempts which signifies a potnetial turn in the trend.

Essentially, if the chart gets to point D, a potential buy would be present as a Bullish Gartley Pattern essentially would be intact.

USDCAD is sitting on the 0.500% retracement as well as the uptrend support line.  Perhaps, a trip to the upside in coming into play?

NZDUSD 8HR 10.24.11

NZDUSD is approaching three key resistance areas on the 8hr chart.  The down trend, the 61.8% retracement and the 200SMA. Failure to break the 61.8% retracement and 200SMA may result in pressure to the down side.

AUDNZD hit the target and reversed as predicted.  Very nice Gartley pattern.

USDCAD 1hr

USDCAD shows an inverted Head and Shoulders pattern signifying a potential bullish run to the upside.

EURUSD 1hr chart a bearish Head and Shoulders is forming.  Lets see if the right shoulder come to fruition and breaks the neckline.

10.18.11 AUDNZD

AUDNZD hit the target where AB=CD.  Lets see how she short pans out.  The 161.8% extension is working well as a barrier thus far.

USDJPY 10.14.11

USDJPY is showing significant signs of becoming bullish and breaking out of the sideways trend it has been experiencing.  The pair has broken through the 20day SMA and 50day SMA, as well as the daily down trend. Lastly, the stochastics have shown a bullish crossover.  This pair may see the 79.00's soon.

10.14.11 GBPJPY

GBPJPY broke through the 120.90 area as noted on the prior chart posted on 10.7.11.  The most resistance is found at the 78.6% retracement with the top part of the pitchfork and the downward resistance confirming the area. However, 70.7and 61.8% retracments will also challenge the pair.

AUDNZD 10.14.11

AUDNZD may be looking to pull back soon.  The center line of the pitchfork has been a good place of resistance.  You will notice, on  this 8hour chart, the stochastics are showing signs of the pair being over bought. In addition, a bearish Gartley is forming.  AB=CD@1.29220 which is very close to the 1.618 extension. Should the pair reach this point a reasonable pullback may occur considering the overall trend on a daily chart is down.

GBP/JPY may meet the 78.6% retracement in time, should it break to the 120.80 area.  A boost may be caused by intervention as speculated by some.

GBPCAD definitely hit a sweet spot for a reversal. This recent retrace may be short lived provided GBPCAD stays below the 6400 level,. 

NZD/USD came to fruition, breaking lower after a retrace up.  Now we find it retraced to the upside again. Perhaps, we see a little more upside at the beginning of the week. However, it can also just drop like a bomb into the 7340-50 area (see prior chart to follow).

9.29.11 NZDUSD Update

As suspected(based on 9.24.11 chart), the pull back occurred and now we may see a continued down trend.....

NZDUSD 9.24.11

NZDUSD may see a retrace next week to the upside. You will notice in the chart, AB=CD is very close to the target price which indicates a potential retrace. Also, there is a wolfewave that formed and is at or reaching point "5" which is also a sign of a retrace to the upside. It may only be a hundred pips or so.... We shall see next week.

Learn about wolfewaves, click on the link below.

http://www.wolfewave.com/what_is_the_wolfewave.htm