stoictrader

Charts, 2012 – Week 19

In Charts on May 7, 2012 at 6:39 pm

A collection of weekly charts that I am looking at in advance of the 19th week of 2012.  (These are a bit later than normal, and the commentary is a bit light, on account of me recently being on an island off the coast of a country which has recently elected a socialist government).

1. GBPUSD

2. EURUSD

3. AUDCAD

4. AUDUSD

Five more charts below including USDJPY, GBPAUD, EURGBP, XAGUSD, XAUUSD

5. USDJPY

6. GBPAUD

7. EURGBP

8. XAGUSD

9. XAUUSD

– – –

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, moving averages and crossovers.  I post a few that seem 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.”

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