stoictrader

Charts, 2012 – Week 17

In Charts on April 22, 2012 at 3:32 pm

A collection of weekly charts that I am looking at in advance of the 17th week of 2012.

1. GBPUSD

2. EURGBP

3. Gold XAUUSD

4. USDJPY

Seven more charts below including… Silver XAGUSD, USDCHF, USDCAD, GBPAUD, AUDCAD, EURJPY, EURUSD, GBPJPY.

5. Silver XAGUSD

6.USDCHF

7. USDCAD

8. GBPAUD

9. EURUSD

10. EURJPY

11. AUDCAD

12. GBPJPY

– – –

A word about the charts: On Sundays I tend to look at weekly OHLC bar charts and watch for three things: classic chart patterns, support/resistance, and channels.  If nothing jumps out at me, I look at weekly candle charts, bollinger bands (2 std dev), moving averages and crossovers.  Some weekly charts I post will be OHLC and others will be candle/bollinger or MAs, whichever seems most relevant to me. I don’t necessarily trade based on weeklies, but the help me understand context.  I am always amazed how insignificant 300 pip moves look on a weekly chart.

Peter Brandt on weekly patterns:   “Chart patterns in the 12 to 16 week zone are quite reliable, while patterns of lesser duration tend to fail much more frequently.”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: