stoictrader

Charts, 2012 – Week 20

In Charts on May 13, 2012 at 1:20 pm

A collection of weekly charts that I am looking at in advance of the 20th week of 2012.

1. GBPUSD (weekly)

GBPUSD (daily)

2. EURUSD (weekly)

EURUSD (daily)

3. USDCHF (weekly)

USDCHF (daily)

Six more charts below including USDJPY, GBPAUD, EURGBP, AUDCAD, XAUUSD, and XAGUSD

4. USDJPY

5. GBPAUD

6. EURGBP

7.  AUDCAD

8.XAUUSD Gold

9. XAGUSD

– – –

A word about the charts: On Sundays I tend to look at weekly OHLC bar charts and watch for three things: classic chart patterns, channels, and support/resistance.  If nothing jumps out at me, I look at weekly candle charts, moving averages and crossovers, bollinger bands, etc.  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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