Daily Candle Trend Trading + CandlePro

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Re: Daily Candle Trend Trading + CandlePro

Postby candlesurfer » Mon Oct 25, 2010 6:39 am

USD/CHF - Stalling Downtrend





25 Oct 2010 Daily update: Price last week stalled for the last two days at the upper edge of the longer term falling channel. So far today this is acting as resistance from which price is pushing back into the longer term trend.

MA10 is still inverted with MACD also supporting a shorter term bullish mood.

No new candles.

Daily Outlook: Possible restablishment of longer term downtrend. Will go short on new daily candle.

USD/JPY - Flowing Downtrend with Bearish Wedge Forming and possible BoJ intervention


25 Oct 2010 daily update: Price so far today has broken to the downside of the bearish wedge formation as indicated. What happens from here? Price is well below the leve at which BoJ last intervened. CP is actually showing a bullish formation with TP at 82.78 but so far today it is all bearish.

I continue to stay clear.
candlesurfer
 
Posts: 87
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Re: Daily Candle Trend Trading + CandlePro

Postby candlesurfer » Tue Oct 26, 2010 6:00 am

EUR/USD - Stalling Uptrend

eurusd.jpg


26 Oct 2010 Daily update: Price yesterday spiked up above 1.4000 before finishing the day below. MA10 still acting as good S/R, with the body of todays candle pushing up from this level so far today.

EUR/USD is acting uncertain around this round number - unsure if this is too high or not. Yesterdas hanging man was rejected, price only got as low as 1.3908 today.

CP has not kicked any new candles out today.

Daily outlook: Possibly more indecision around 1.4000. Waiting for a confident daily close above 1.40 for at least two consecutive days.


AUD/USD - Stalling Uptrend + Neutral Wedge Breach

Preview of “X AUD-USD Rolling Daily”.jpg



26 Oct 2010 Daily update: Sideways Wedge pattern broken to upside. MACD flattening. No new CP signals.

MA10 flat with other MAs up, signalling stalling uptrend.


Daily outlook: Possible new rising channel forming with resistance at former support.




GBP/USD - Stalling Uptrend, New Support Level at MA50

Preview of “X GBP-USD Rolling Daily”.jpg



26 Oct 2010 Daily update: Falling channel formation breached today - price is currently moving north off of MA50 as support. NOt sure if this is the start of a sideways range or return to rising channel.

Yesterdays CP prediction of a drop to 1.5387 was rejected, signifiying that the pair has bearish potential left.

MACD starting to look bearish as it flattens.

Daily outlook: challenge of MA10 as S/R. Price did not test properly yesterday so still could do a bearish dive off underside.
candlesurfer
 
Posts: 87
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Re: Daily Candle Trend Trading + CandlePro

Postby candlesurfer » Tue Oct 26, 2010 6:27 am

USD/CHF - Stalling Downtrend

Preview of “X USD-CHF Rolling Daily”.jpg


26 Oct 2010 Daily update: Price yesterday continued to fall from last weeks stall at the upper edge of the longer term falling channel. Price yesterday reconfirmed MA10 as support so will not go short just yet until this is breached and underside confirmed as resistence.

MA10 is still inverted with MACD also supporting a shorter term slightly bullish mood although the much stronger long term trend is bearish.

weak new CP bearish has poor r:r etc and coupled with price being north of MA10 and recent confirmation as support, will not take this. CP puts price down at 0.9597 which is the other side of MA10.

Daily Outlook: Fresh challenges of MA10. Will go short on decent daily candle with reconfirmation of MA10 as resistance.




USD/JPY - Flowing Downtrend with Bearish Wedge Forming and possible BoJ intervention

Preview of “X USD-JPY Rolling Daily”.jpg


26 Oct 2010 daily update: Price so far today has used underside of bearish wedge as resistance, pushing even lower! Yesterdays CP daily showed a bullish formation with TP at 82.78 which was well and truly rejected. As Mark has pointed out, this is a 15yr low and I can almost hear the BoJ having a tense meeting after which it will intervene, perhaps more strongly this time.

I continue to stay clear.
candlesurfer
 
Posts: 87
Joined: Sat May 15, 2010 4:53 pm

Re: Daily Candle Trend Trading + CandlePro

Postby candlesurfer » Mon Nov 01, 2010 7:05 am

***WAS SUPER BUSY AT WORK LAST WEEK SO WAS UNABLE TO POST A BLOG EVERY DAY, MAY BE SAME STORY THIS WEEK SO I APOLOGISE NOW***

EUR/USD - Stalling Uptrend/ Sideways Range

Preview of “X EUR-USD Rolling Daily”.jpg


1 Nov 2010 Daily update: Price on pair sideways ranging below 1.4000. Top of range, selling zone, is around the 1.3950-1.4050 area, buying zone is around the 1.3700-1.3800 area.

Price currently at 1.3985, well into the top of the range and just below 1.4000 so some serious selling may soon occur.

CP has not kicked any new candles out today.

Daily outlook: More indecision around 1.4000. Waiting for a confident daily close above 1.40 for at least two consecutive days + decent daily bullish candle before going long.


AUD/USD - Stalling Uptrend + Neutral Wedge Breach

Preview of “X AUD-USD Rolling Daily”.jpg


1 Nov 2010 Daily update: Sideways Wedge pattern broken to upside first now price suing underside as resistance. MACD flattening, suggesting more bullish moves on the pair. No new CP signals.

MA10 flat with other MAs up, signalling stalling uptrend.


Daily outlook: Possible new rising channel with resistance at former wedge support.




GBP/USD - Uptrend

Preview of “X GBP-USD Rolling Daily”.jpg


1 Nov 2010 Daily update: Price used MA50 last week as support, before bouncing up above MA10, restesting and confirming as support before bouncing up once again.

This has been quite a substantial move, over 500 pips in the last week alone.

New daily CP candle is 100% bearish and puts price back down as low as 1.5832, which would be a retest of MA10.

MACD looking bullish as it has crossed over, above zero and pointing up .

Daily outlook: Watch for re-challenge of MA10 as support, although other indicators (MAs, MACD) suggest bullish moves. Next significant resistance zone is the undersiade of former support at around 1.6280.
Last edited by candlesurfer on Mon Nov 01, 2010 7:34 am, edited 1 time in total.
candlesurfer
 
Posts: 87
Joined: Sat May 15, 2010 4:53 pm

Re: Daily Candle Trend Trading + CandlePro

Postby candlesurfer » Mon Nov 01, 2010 7:20 am

USD/CHF - Stalling Downtrend

Preview of “X USD-CHF Rolling Daily”.jpg



1 Nov 2010 Daily update: Price has moved right the way across the falling channel pretty much constantly and has now stalled under MA50.

MA10 is still inverted with MACD also supporting a shorter term slightly bullish mood although the much stronger long term trend is bearish. MACD however is turning around the zero mark and is not as steep as last week.

I think the pair coul dbe about to resume its downtrend and will be looking for some sell indication such as new daily bearish candles or a breakthrough and retset of MA10 as resistance. Price is definately getting squeezed between MA10 and MA50 and could pop very soon.

weak new CP bullish candle puts price at 1.9972 which in my opinion will be difficult to achieve as the pair tends to shy away from the big round number at 1.000.

Daily Outlook: Possible indecision as price is just under 1.0000, which may encourage buyers and sellers into a fight. Possible price crash.




USD/JPY - Flowing Downtrend with Bearish Wedge Broken and possible BoJ intervention


Preview of “X USD-JPY Rolling Daily”.jpg


1 Nov 2010 daily update: Price broke uper and then lower edge of bearish wedge last week. Price so far today had a huge gap up and spike for a few minutes up on hte bullish side of the bearish wedge around midnight which immediately whipsawed. Price is therefore back on the bearish side.

I continue to stay clear as price will surely become more volatile.
candlesurfer
 
Posts: 87
Joined: Sat May 15, 2010 4:53 pm

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