Thursday, 31 March 2011

Ummm....a slight hiccup with Soybeans/ Grains

Talk about a gap up on opening!
The Euro electronic session closed at 14.15 today at around 1378-00 and opened at 16.30 strongly higher at 1415-00 before trading upto 1431-50 before easing off the highs.
But the warning signs were there. I have left the two d-sloping forks neither of which have a CL touch. Recent price action has been all about a reaction line that has held price below 1375-00. I will publish the reaction line chart for beans but it is so distorted due to this move that it will need a few hours to even out so the lower TF's can be viewed.

EURUSD at 1.4200 before US data

After a weeks break from posting i am back and offer below a superb set of reaction lines ( from a RL grid/web ( the same RL grid as in the previous post last week) showing current and recent price action around/above the 1.4200. One ML can be seen drawn in white running across the chart from a high TF fork.
Part two of my video presentation on Reaction Line trading will be posted this weekend

Friday, 18 March 2011


Nice retouch as price was 'just passing thru' the CL i illustrated earlier.


The DX is at the critcal level i posted about weeks ago. The Euro$ is now at the CL of the weekly chart fork (magenta) shown for illustrationj in two simple charts as mauve/magenta and then as a thin gold line in the trading chart with multiple reaction line grids + ML framework.

Wednesday, 16 March 2011

Copper (HG) plus first VIDEO

I have finally managed to get my head round the technology and find the time to make & post a U-Tube video.
Why have i done this? After all i have no commercial interest and am selling nothing. The reason is that i believe i have a trading methodology that works- simple! What i have decided so far is that i will post a series of e-videos using E-Signal, Metatrader & Ensign charting platforms showing:
1. Basic chart preparation- this will show how i approach any market starting with a clean chart. The chart will eventually end up with major support and resistance levels clearly shown as major median lines and major reaction lines. These charts show there is no need for what are called MultiPivot Lines as nearly all major pivots can be denoted as a touch on either a median or reaction/warning line. Each and every pivot has a relationship with the previous/past and current & future pivots. These relationships are expressed by the various forks.
2. Reaction line Grids/webs
3. How I trade these charts once they are prepared as per 1 & 2. This section will be in 3 separate videos and include topics such as Trend & Reversals, Trade setups using my reaction line entry method and indicators guidance, money management.

Tuesday, 15 March 2011


The green fork shows the Euros current strength. No touch on the CL during the recent correction and up up and away today after finding solid support at the reaction lines from a high time frame fork in the daily chart. Should find support at 1.3960..if not back to 1.3940 ( grey UMLP) or (1.3915 salmon pink ML).


Monday, 14 March 2011

Friday, 11 March 2011


short Soybeans-Centre line failure at critical level

a re test of 1350 level ends in a failure after a sharp short covering rally but the outlook ( for me) is lower in the medium term but this market punishes greed and foolishness like no other market i know so i tread carefully. You can see the CL in the MT chart as a thick grey line in the top left hand side of the chart. The fork ( thin grey up sloping) in the MT chart is a mod Schiff.

Thursday, 10 March 2011



EURUSD + USDX+ soybeans

The orange dashed line is a trigger line from both available low pivots for the orange fork which had a centre line failure during the European morning trading session today.

The charts below maybe a bit confusing but check back to my earlier posts on beans as i have been bearish for weeks and in particular this week. I am now flat having traded only beans
(not on MT platform) yesterday and hence was too busy to post. Should see a bounce today at 1310-1318 but suggest we will then see price go to 1290-00 in the short term then perhaps a period of sideways movement before breaking lower to take out previous low at 1280-00. Current RT from recent high is 23.6%.

Tuesday, 8 March 2011

Soybeans and other markets

re Beans ..This is either a damm good place to buy or on the 'edge of the cliff'.....I personally favour lower prices and the fact that price action has stuck to the yellow LMLP like glue perhaps indicates that it is maintaining downside pressure, however the stochastics indicate it is oversold in multiple TF's but as we know they are/can be wrong and we are beginning to see weakness in other grains despite strong fundamentals.

DX as per yesterday

Monday, 7 March 2011

EurUsd + YM + Beans+ gold

update: euro on daily lows and on an important LMLP +RL...but i suspect lower to go and it certainly does not look like a buy here. MT chart and somewhat similar Ensign chart with same forks but no grid.

Below: YM #H + FTSE

Mini Dow and yet another failure to make a higher high pivot

Soybeans at last through my RL form last week



The green fork is a mod Schiff. Price looks weak as it approaches the next RL which originates/is part of the grid.

Euro trade continued + Gold

Price seems to have held so far around 1.4000 on the horizontal RL & blue ML. A break up through 1.4005 will see me close remaining shorts with profit stp.

Gold under pressure + €$ trade

This is the grey/blue UMLP PLUS the trigger line in dotted white from a higher TF fork not seen here. The 60 min chart is a bit of a nightmare but when viewed in a lower time frame all is revealed.
EURUSD:partial profits ( 1lot of 3) taken at 1.3997( 50% RT level) on horizontal RL
( see previous post)