Short Eur+US$ head n shoulders...cont

profit stp 1.40205...i am watching very carefully to see what depth of RT we will see...too shallow and i will cut n run. We already have a bounce off the .382 but that is normal and price may now hover above 1.40 before either breaking one way or another.

Short Eur+US$

-Eur+USD @ 1.4027 5pt stp. UMLP of dotted mauve fork. Look how the upsloping dashed deep red warning line cuts through price from bottom left hand side and resisted price at 1.4025 . Look at B-line+ ribbon stochs + head n shoulder patt in 1 & 5 min chart

EurUsd + USDX...cont

See previous post
In the MT 5 & 15min chart price
(Euro) perhaps will weaken perhaps around 1.4030-1.4040 in the top RHS of the chart where the next d-sloping RL from the grid can be seen waiting.
This would roughly equate to 76.00 in the DX
PS: The yellow fork is not actually a true Gibbs as annotated on the chart but you can see P0 is in front of p1 and thus not Andrews BUT look how those RL's work in the last 1 min chart where the RL's have been coloured yellow so as to distinguish them from the grid and other RL/WL's....so there's another rule to throw away or to at least break when the results justify and price is perfectly expressed within the fork.

EurUsd + USDX

This current price behavior is as I expected last week but i believe we are fast approaching the support level for the DX at 76 figure. I would expect at least one 'bounce' off one of the three major median lines shown in the E-Signal DX chart below ( even if we then go lower which I suspect we will sooner or later). I would not want to be short Euros yet but there will be opportunities soon and having missed a long entry this morning off the LMLP & it's too late now the euro is trading over 1.40 . The depth of any retracement will reveal more.

Short Beans ( Mch 11) end of trade BUT best illustration of RL method

stopped out at b/e.This means that sbns will go higher nxt wk.
Weekend commentary + vid to come plus why i think today ( Friday March 5 2011) is the beginning of a sharp stock market correction downwards and IF this setup plays out next week where i will enter short trades.
Please take a minute to consider the implications of what i said in the previous post(re Soybeans- above link) and this current post....and remember i am selling nothing. This and the last post on soybeans is a superb classic example of the power of reaction lines.HAVE A GREAT WEEKEND....I AM SURE YOU HAVE EARNED IT!

Short Beans ( Mch 11)

Short just after price ran out of energy after a .764 Fib RT on the deep blue UMLP of the Schiff fork (originally the green Andrews fork). Heavy support will be offered by the thick blood red RL at 1391-00 but i am hopeful that we will see price take this level out and close lower. We had all Stochs on "the roof" with a reading of over 95 for the 35-10-1 plus divergence on the Maccy-D etc. I was filled on a sell stop resting order.

Mini Dow- Trigger line trade?

The trigger line comes from the controlling swing ( small orange d-s fork from the top pivot). Although the indicators/windows are removed/collapsed there is a possible short trade setup here and i will revert as the next 60 min bar is formed. I invite you to review MACD/RSI/B-Bands/and ADX/B-line stocahstics and make you own judgment call.
PS: Pls have a careful look at the 1 min chart and ask yourself about the RL/WL grid. Does it express support/resistance in such a micro TF? The answer should/must be yes it does, in part display a definite correlation with price action. This weekend i will show you how to add the missing element to a chart like this and my long awaited first U-Tube Video will be posted.

Mini Dow... a hit or a miss? ( plus VIX Index)

Price must make it to the thick white CL or will retrace. Currently stuck on the deep dark blue modified Schiff fork UMLP. It doesnt matter that it has reached the other CL as the P0 from that is higher and the thick CL has the honour of being the fork with the low pivot. I have seen many times many CL's touched but if the controlling fork from the lowest low pivot is not hit then price reverses to some degree. see earlier post
















The VIX (below)

ZB - T-Bonds

T-Bonds are coming back to the orange ML

EURUSD-Did you see that coming?

A perfect touch on the grey LMLP & RL after a false break down and as per my previous post.

€$ & USDX

Euro looking a bit toppy? US data may provide the stimulus for a sharp move up by the Euro . Maybe with the ECB rate decision + US Jobs data we will get a false break down for the euro and then a sharp rise ypto 1.39 and higher. I am worried that the DX is approaching support at 76.00. There is definitely something there plus the pink/magenta LMLP and we can already see the first time price hit this line it bounced upto the 81.50-82.00 level and this is the second time it is coming back to test the LMLP ( after a CL failure in other high TF forks) so the prognosis for the USD is down i think. The DX chart below is very basic and i drew these forks with haste as all my other charts of the DX are too messy with RL's. (Remember we may see another bounce off the DX LMLP support level before price goes lower so i have no position yet).

Mini Dow

Mini Dow

This is the sort of basic market analysis when i see a top forming and the market unable to make new higher highs. Firstly add forks and then see how their Andrews, Schiff or mod Schiff ML's interact with market activity. In these three i have left out the RL's and just included the warning lines and the trigger lines. The trigger line from the fork in the 'controlling swing' has worked beautifully and twice...today being the second time. NOTE: see how in various time frames below the white trigger line varies/changes it's distance from our most recent high at 12291?Ever wondered why in some TF's the 'reaction' from a RL, WL, ML appears to be after the RL/ML/WL? I have a method (& it is not adjusting the scale to 1:1) which enables me to see where the true location of a line is in any TF upto & incl the 60min TF. This method will be shared by a video on this site (see last paragraph).








Then I add the grid(warning & reaction lines from the controlling swing) and you have a powerful tool showing you part of the price matrix.











I have made a great little (?300 MB) video on HG Copper and although out of date slightly it will be posted as a small SWF File on this blog later today/or tomorrow if i have enough time & can get my head round the tech stuff.

HG Copper + experimental Vid

Vid for these charts...sorry 10 min video ended up as over 300 mb size and spent hours installing new codecs( Lossless,Divixx,)for CamStudio open source...but as yet its still too large.

IMPORTANT INFORMATION

This weekend i will be posting a video on this blog showing my take on Reaction Line trading. I will be using Camtasia studio software to capture the screen/charts and cursor plus my voice. I will have look at the USDX( & others) which i think has a very high probability of going lower and i will show you that Multi pivot lines are in fact RL/WL/ML from other forks and how to find the originating fork...but more than that how I use these lines (which are in fact just support and resistance) in trade setups.

soybeans..cont

Wow, That was a bit hairy.1387-1/2 and now back at the RL. The scale is basically screwed due tot he volatile massive movement so my apologies.
I have a problem with my E-Signal charts since Tuesday and have lost huge amounts of data and working charts so below is a simple fork analysis...all the forks of the pivots shown have had their CL's punctured ( even tho the black one doesn't look like it -scale/object distortion caused this i am afraid)