EUR/USD

I have been just mucking around not much but looking at the EUR/USD i basically see a rough 20c repeating range, now bear in mind this is on the weekly and some of them actually took years to complete, this recent down move has done it in under a year and the 2008 crash basically did almost double the range in under a year.

I see support and no doubt a phsycological level at 1.3 and this coincides with the big uptrending line, i have projected that if it does bounce off this line or the next minor support just below then if the range does repeat it should take us to the bottom of the descending trendline.

This is really long range forcasting but trying to just 'see' what could possibly happen. Would love to know some gann things and if they can apply to FX in regards to turn dates and such and i might have a look at a few later on next week or when i have some time free to muck around would be very interesting :)

BHP Trendline

Just thought i would update this chart.

I day traded it and made a bit off her and then decided i would add back a small position at the lows 41.98 so was happy until it gapped down through that trendline. Not a big loss and have moved stops out to the weekly and monthly range fib levels.

Will look to add on a weakness if these levels hold to average down, i am thinking it might retest the trendline so happy to get out around here.

Annoying to say the least but that is the pitty with Gaps sometimes the cant be helped...another reason i want to go to the forex LOL

Nothing doing

Well guys i have not been into much over night mainly just been playing the range trades and a few scalps. Been looking at FX much more seriously now and have set up my platform so i might try putting a few charts on that up over the weekend when i have some time.

Much to do still.

this is not much of an update basically just thought i would post a link to a friend's video on range trading which gives you a bit of an understanding of what i try to do each day.

Range Trading Video

Watch any of his videos you can learn plenty :)

forty skew metalics

This is a very basic quick chart as my gann program i couldnt be bothered doing another screen shot and there is so much crap on there it would be a bit to messy so i just made a basic showing of FMG.

Basically it looks like the trendline in green could still be respected and this could be a good spot to take a part position if you are bullish on FMG with stops below the recent swing in light blue. That swing is around the $4.70 area for a stop with and entry close to $5.

Shorter term the price has been making lower swing tops and has made a lower swing bottom this is indicated in darker blue so i would be exercising extreme catution here as price could easily reverse through the trendline and break lower should it want to and end the excellent run on the longer swing timeframes.

I would definatily have my stops below the most recent light blue swing low as that is a 3day swing bottom and if it breaks trend is definatily ended in my opinion.

Farming the West

WES

This is a longer term chart i have just been playing around with, i dont think this is complete but it was one of the first ones i have been doing. Basically the longer term timeframes look over bought on the indicators and loosk like the black down arrow will need to complete. The most accurate cycles are the lows which appear to be running in multiples of gann's 30 degree cycle (30 weeks low to low)

Projecting this forward at 1050days so 150 weeks (i just decided this length it could be shorter or longer but for the price to complete a range down it appears is normally around $9 multiples)it could be shorter or longer but this is just a basic projection i have done.

Then basically from there i have taken the rough 900 number of days from high to high and taken just used the $15 price as a guess as this is going a bit to far ahead to get to excited about but i would be looking for something around here. It is just something i got going with i will try putting some more work into it later to get more accurate but much more to do before that!!

Anyway hope you guys can enjoy it

BHP Trendline

Hey quick chart for BHP, Looks to be hitting the big trendline which has been respected 3 times before making it quite as strong trend.

The markets do look quite weak here so i wouldnt be surprised to see it broken. However i have taken a small position long expecting a bounce but im not to fussed either way stops stops stops.

WTF!?!?!

WHAT THE FUCK WHY IS MY STOCK GOING DOWN!!

hahaha couldnt resist seeing as one time i got suspended from a certain share forum for mentioning WTF in the title.

Anyway here is my chart for it, i called it yesterday on twitter for it to fill that gap and it did even exceed past that area, longer term i think it could go sub $6 but time will tell that and maybe ill do a chart with a couple range on it to show why i think it could do that. For the short term i think it could have a bounce, as it has been sold off very heavily last few days.

Enjoy

Banking in Queensland... sorry im WA

Noticed BOQ gapped up again today, the volume is not really signigicant and it seems to be still from that profit announcement which was on the 15th. I noticed the gap today as it was quite large, i did not take action initally. I decided i would look in and do some analysis on the chart This is what i have found.



Basically it is found some resistance at the 45 degree or 1:1 line from the highs back in 2007 as indicated from the gann fan which has been placed on the chart. I noticed this and took a short position near the highs.

It has been 30 months from the last highs and looks to be nearing a critical turning point. It has left 2 gaps both quite significant which i feel need closing and going on the performance of the gaps this stock normally has left in the past they are usually closed relativly quickly.



It also looks to have completed the range that it has done previously and with many of the indicators looking over bought and have been for a while it is becoming more and more likely it is going to fill those gaps (similar to CTX i feel) Happy to loosen the stops and have some patience and can always add on the confirmation

I have only taken a part poistion so far and any break down towards the gaps i will add to the position and tighten stops but for now im happy to see if we can get a move down (im bearish on the market) and fill those gaps sooner rather than later.

HVN is a dog but ill take a punt

Hey guys,

I initally bought a small position today for a scalp which never really came about so decided i would hold it over night after i looked at a few charts.

Basically this is the daily chart i have provided but on the weekly price could never close above the 50% of the major move.

I have calculated the 50% move of this last which comes around to the 3.32 level, this is a previous resistance level as we can see back from may til september of 2009 price could not really pierce and hold aboce that level as indicated in the chart. It is not clear cut and it could certainly come through that level and keep going.

The EMA's certainly looks bearish with the Death Cross happening and the strong down trend line yet to be broken. I am happy taking this trade as it is only a very small position which i would be able to get out of, i do feel the move today was quite unjustified and although i think HVN is not a good stock and will continue to be beaten by their compeition JBH i dont mind taking a small trade in it (even though it is against the trend i know)

These are just my thoughts hope they are taken with a pinch of salt :)

If u want to see more its on my blog and on the twitter :)

i cant hearrrr you

COH, What a run, like most stocks lately she has had an exceptional run, i just was laying a few fibs over the chart based on the repeating ranges which are roughly $10.50 - $11.50 ranges over a period of 25-30 days, not bad returns for a month giving over 20% a move.

Basically what i am showing here is that based on the past ranges that now the stock has moved to the 150% fib levels, This is a strong level and as we can see the stock could not close above this level. It is interesting to note the gap it left on this move up as well which could maybe form an island reversal. I am not short on this stock and have been stopped on it about a week or 2 ago when i held a short over night doh!!

Excellent profits for those long and i commend you on that trade i certainly wish i even had 100 shares long!! Will be watching more for the interest of seeing if this pattern will play out. I might try a few other gann things with it if i get some more time :)

XJO Megaphone

Just an update on the megaphone chart pattern we have been seeing as of late on the XJO.

looks to have hit the top resistance and could be on the move down to complete the pattern now.

I have been working at the broking office so havent been doing many updates lately and havent been trading to much, being sick doesnt help either.

Anyway hope you guys find this interesting

Quick post

sorry guys i been away all weekend surfing!!

Did this one chart on ANZ showing why monday could be a significant turn for it with all these gann dates lining up. something to keep in mind, im watching and no position just yet.



ill try do some more this week guys, check twitter for daily stuff :)

NGE Daily

A friend pointed me in the direction of this stock.

Certainly looks like a cup and handle continuation pattern. It has made highs on strong volume and sold off on light volume. The DMI shows the trend is strengthening upwards. i would be expecting one more leg up to the 25c area?

Needs the volume to push it past the highs.

EXT Weekly

Just had a look at the EXT Chart on a weekly time frame and i must say it certainly does look good to me.

There is bullish divergance on the MACD and Stochastics with price looking to have made a potential higher low. I have got weekly buy signals from the DMI, Stochastics and MACD. If some volume starts to come back might repeat the speed angle and could see a move up to the $9 area.

I am still sketchy on the market but just noticed the chart and thought i would share.

I will consider this for a long on any break out or if it can surge past the $9 area, the EMA's are all bunched together any break away and spreading of this 'gate' and ill be looking to ride her back up.

Tooooo Long

Hey everyone,

Well it has been long time since i posted anything but i have been away for over a month to Brisbane meeting up with traders and learning a whole heap! Might even have a job working on a trading desk but ill wait and see if i cant make more from home. LOL

Anyway i have come back and have been studing the works of W.D. Gann and i can say i am very impressed from what i have learnt thus far but this study will take years and years to master but the work put in can definatily be worth it for the returns you can get by being able to pick exact tops and bottoms of the market to the exact figures! Crazy i know but it works, Maths is actually useful!!

Anyway ill pop a few Charts up for you all to keep you busy.

This first one is STO and it is basically some Gann Fan's applied to the highs and lows of the stock. These are time and price projections and where these lines intersect on the different time segments can create turning points in the market as i have indicated on the charts. Just some of the stuff i am trying to get my head around!



The next chart is of CBA which i am bearish on looking at the chart which looks to have formed a head and shoulders pattern which i feel might play out if the market gets a bit of a scare and some volume comes through. Something to think about if your longterm holding CBA espicially with the confirmation of the volume on the pattern which initially alerted me to the pattern.



Another bank i have been watching for a short move is WBC but i got stopped out before on this so maybe now it is time for another trade on the short side? The charts below show the gann fans again with a resistance point on the weekly being hit, the week also closed below the highs of the previous candle signalling weakness. Also the swing chart shows the first lower low since early feb, if a lower top comes about a down move could be coming for WBC also. Again lets see if it plays out. Certainly 25% since feb sounds pritty good if i was holding that damn greedy people :P






Last of all is the XJO which looks to be making a megaphone pattern which is a bearish topping pattern which consists of higher highs and lower lows. These moves can prove bearish as the market tops out. We have had a big move up since the lows and the market could be absorbing some time sideways for the next few years. Some of the more experienced traders i have spoken to recently think that we are going to be sideways for a few years yet before a big move up around 2012/2013 so fingers crossed we can get a big move there.



Basically the market had a strong rally because we paniced to much when the market fell over and now we have rallied strongly with the help of China and commodites along with a weak US dollar, Now that things have come back into a more normal state and earnings are improving the market will be moving sideways i feel. The company results have not been strong enough to continue the move i feel and we should move along as the market still improves until the next bull rally when company earnings and projections really start to 'boom'

time will tell just some thoughts.

I will try post a bit more regularly for everyone and if not on here on Hotcopper :)