Author Archive

« Older Entries
Newer Entries »

The Aussie Singapore Dollar.

Sunday, November 20th, 2011

Good morning Traders,

I am afraid I am having some problems this morning with my AdvancedGet, and so no chart will be available.

I did an update in early October, on the AUDSGD, mentioning that some kind of bounce was occurring.That bounce did in fact turn out to be substantial, as price re-tested the July high point, but obviously, no short trade was triggered. This pair is now showing a signal on one of your pullback systems, as well as being in parameters on another, for the continuation north.The ‘DT’ formation at the end of October is unconfirmed as yet, and price did just pop above the 2010 high area, and then declined to where it stands at the moment.This quite linear pullback, could turn out to be an extended bullish flag formation, as price is currently standing at the DVI, with a spinning top candle formation on Friday, and at the figure, and so a bounce off this support could quite easily be expected.

However, there is a mixed bag of signals, and so a clear picture of  confluences either way is not evident, and so with the overall bias being up, the best approach here would be to wait for a more high probability trade, with more confluences offering the same weighted direction, which would then probably be nearer a break out scenario. If you are aggressive, then the pullback rules could be observed, but ensure your quota of reasons for such are all there, and as always , please ensure to do your own analysis before trading.

Always enjoy your trading.

Clayton Farnworth.

Tags:
Posted in forex | Comments Off

Patience on the Singapore Dollar Yen.

Wednesday, November 16th, 2011

 

Good evening all,

Tonights chart is is knocking on the door of one of your break out systems, and whilst analyzing, you will see that it has a fistful of confluences supporting the downward direction.

Price is below 2010′s low and the figure, but could do with another confluence that you are all aware of to fill your basket quota.below where price is currently, is the September support level, clustering with the 2009 low support area, and should this added elusive confluence come into play, it may give the extra momentum needed for the supports to break. However, with price action formation on this cross, it would be advisable to use the alternative entry should it occur, unless you feel aggressive on this.

Should, the support areas break with the necessary price action, then further weakness could be seen.

As always please ensure to do your own analysis, before entering any trade.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

 

Tags:
Posted in forex | Comments Off

Half figure resistance?

Sunday, November 13th, 2011

 

Good morning Traders,

A US stock off the MA from last week, which I was keeping an eye on, with a good points score, was SBUX.

As can be seen from the chart, it has recently been in a wide ranging market, then went to a small consolidating range, and a couple of weeks or so, broke out of that small range, re-tested its high, to now stand at a possible break-out point again.Price is currently at a similar point to what it was last week in the report, without having had a break-out, and with confluences being positive, then only the long positions can be traded/taken.

However, as it is taught, always look at the chart, to see if the price action is offering a ‘high probability’, and in this case, that may be waning, due to certain factors culminating after the ranges/consolidations, and so, should this go long, then the alternative entry could be used so long as confluences are still correct at that point.

As always please ensure to do your own analysis before taking any trade.

 

 

Charts courtesy of AdvancedGet.

Good trading.

Clayton Farnworth.

Tags:
Posted in stocks | Comments Off

Previous highs tagged.

Wednesday, November 9th, 2011

Good evening all,

With all the speculation and indecision in the markets at present, there is no good clear direction being given in alot of the trade-able stocks and currencies, and it is hard not to be influenced or at least have ‘doubting’ thoughts on your decisions, due to all the news being bantered around regarding the Euro zone, and this is one of the reasons that break outs are preferred to pullbacks, and consolidation trading is a ‘no go’ area, when looking for the bigger moves.

Although tonight’s chart has plenty of upward confluences still going for it, it is in a rather weak looking position at present which favors at least a pullback to enable it to be able to continue up should that be possible. Price action has seen it reach a DT position from earlier this year, and has now also fallen back below the previous years high point S/R zone. An obvious support point could be the V.I. and figure cluster should the trend line break, and the MACD indicator is also hinting that such a fall/consolidation could occur. Let’s wait to see what happens hear, but remember, from the DT trading methodology, only longs can be taken at present, until such time that confluences dictate otherwise.

As always please ensure to do your own analysis before taking any trades.

 

 

 

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

Tags:
Posted in stocks | Comments Off

Is further weakness ahead?

Wednesday, November 2nd, 2011

Good evening all,

Tonights chart, is of NIHD, a NASDAQ 100 stock.

Price recently made a possible DT formation,around the $30.00 mark which clusters with the 2010 low support area,and has since fallen down sharply to its current standing. It is below the weekly and daily V.I.’s, and T.C.’s are negative,and Trading Room members, will be able to see other Market Analysis confluences, which are also supporting the continuation down, such as the longer term trend direction.

As you all know, charts never progress in a nice straight line direction, and so as trend traders, the DT teachings welcome pullbacks and consolidations as part and parcel of trading,in order for the trend to remain healthy, and teach, where possible high probability entries may be taken,although one specific group of systems allows for’ breakout trading’ there are specific rules to be followed, and although the chart below is approaching such an area so an entry may be calculated, there is nothing to say that a pullback could not occur first, which by the way, could easily happen as regards the chart below.

What must be adhered to, is following the trend and the rules of any specific system, and so in this instance, only shorting can be looked at here, and a break down could lead to further weakness, as and when and if , it occurs.

As always please ensure to do your own analysis.

 

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

Tags:
Posted in stocks | Comments Off

After every ‘big move’……?

Sunday, October 30th, 2011

 

Good afternoon Traders,

With the  first ever Indian Grand Prix, I thought I would look at the Indian Rupee chart today.

As can be seen from the image below, this has had a great rally up from late July this year, where it stood at its previous years low, and had been range bound for about 10 months or so.

This rally, propelled price easily through the DVI and WVI, and also last years high point, and straight up to the 50.00 figure. As you all know, after every large move, comes a pullback or consolidation period, allowing for price to take a ‘breather’, and sure enough, price certainly needs that here, and has entered that phase.

The first obvious place, for the pullback to reach, would be last years high, now support, which does cluster with a Fibonacci breather level, but if this area does break, then there are several other support areas before the bias turns bearish, which would be beneath the VI.

At present, nothing has changed regarding overall direction on this currency, and the trend is still very much up, so await the correct confluences to advise your decisions, and trade accordingly.As always, please ensure to do your own analysis before trading.

 

Charts courtesy of AdvancedGet.

You have to be patient, to make the best decisions.

Clayton Farnworth.

Tags:
Posted in forex | Comments Off

Ruble supports coming up?

Wednesday, October 26th, 2011

 

Good evening Traders,

With all the speculation still going on with the Euro, I thought I would stay away from such crosses, and show a chart of the Russian Ruble instead.

This is a chart I have on my watch list at the moment, but as it is not readily tradable at present,  I want to show a weekly instead chart for a change.

The longer term trend and T.C. are both supporting the upside continuation although there is an obvious pullback/correction in progress, which is confirmed by some of your DT tools.With that in mind, supports are quite numerous below price at the moment, including former physical support, the figure, Fibonacci retracement areas, the WVI, and then finally the DVI below all of them.All areas should be watched for any signs of upside continuation and traded accordingly, so long as confluences are still supporting that directional move.

As always please ensure to do your own analysis.

 

Charts courtesy of AdvancedGet.

Have fun.

Clayton Farnworth.

Tags:
Posted in forex | Comments Off

« Older Entries
Newer Entries »