stoictrader

Charts, 2012 – Week 22

In Charts on May 27, 2012 at 3:06 pm

A collection of weekly charts that I am looking at in advance of the 22nd week of 2012.

1. GBPUSD

2. EURUSD

3. USDCHF

4. AUDUSD (AUD and NZD vs USD and CAD appear to be at pretty major support levels)

More charts below including AUDCAD, NZDUSD, Silver, Gold, USDJPY, GBPCAD, USDCAD, GBPAUD, and EURGBP

5. AUDCAD

6. NZDUSD

7. Silver

8. Gold

9. USDJPY

10. GBPCAD

11. USDCAD

12. GBPAUD

13. EURGBP

– – –

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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