stoictrader

Charts, 2012 – Week 32

In Charts on August 5, 2012 at 2:27 pm

A collection of weekly charts that I am looking at in advance of the 32nd week of 2012.  Beware August, summer doldrums, Olympics, light volume, etc.

1. GBPUSD

2. AUDJPY

3. Silver (weekly)

Silver (daily)

More charts below including: Gold, USDJPY, USDCAD, USDCHF, GBPCHF, GBPCAD, GBPAUD, EURUSD, EURJPY, EURGBP, and AUDCAD

4. Gold

5. USDJPY

6. USDCHF

7. USDCAD

8. GBPCHF

9. GBPCAD

10. GBPAUD

11. EURUSD

12. EURJPY

13. EURGBP

14. AUDCAD

– – –

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 moving averages and crossovers, candle charts, bollinger bands, etc.  I post a few that seem most relevant to me. I don’t necessarily trade based on weeklies, but they help me understand context.  I am always amazed how insignificant 300 pip moves look on a weekly chart.

Advertisements
  1. Nice charts, that Silver has been playing with my mind…I ve been waiting for a good level to short, but choppiness put me off. But it looks as if it is topping on the hourly chart, it might drop from there now towards 27.55 level.

    • You are right about the choppiness, especially on the shorter term charts. It just about made it to your 27.55 level today at 13:00 BST then right back to 28.30 within 2 hours. It is not able to hold below the hourly 100 SMA and hourly 200 SMA, but nor is it staying above the downward trendline. When we finally do get some confirmation it could be a big move. Friday afternoon in August makes me wary.

  2. This chopiness is a stay out…we need to see more steady price action to get involved…any direction you take there is no follow through…am staying out of these metals for now. Have a great weekend

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: