stoictrader

Charts, 2013 – Week 26

In Charts on June 23, 2013 at 2:18 pm

A collection of weekly charts that I am looking at in advance of the 26th week of 2013.

One key weekly feature I watch is the tendency for a pair to close in the same direction as the prior week when it does not test the opposite extreme of the prior week, or to reverse the direction of the prior week when it does test the opposite extreme of the prior week. For instance if last week was a higher close, then this week it is more likely to be a higher close if price never tests the prior week low; or it is more likely to close lower if price does break below the prior week low.  Two week ago, Week 24, there were a lot of reversals, and then last week, Week 25, many pairs reversed again (especially USD crosses and EURGBP, but not AUD or metals).  This may be a sign of an inflection point, or just summer sideways trading.

1. GBPUSD (weekly)

2013 06 22 gbpusd w1

2. USDCAD

2013 06 22 usdcad w1

3. AUDJPY

2013 06 22 audjpy w1

4. Silver XAGUSD

2013 06 22 xagusd w1

More charts below including: AUDUSD, EURGBP, EURUSD, GBPCAD, GBPCHF, USDJPY and Gold XAUUSD

5. AUDUSD

2013 06 22 audusd w1

6. EURGBP

2013 06 22 eurgbp w1

7. EURUSD

2013 06 22 eurusd w1

8. GBPCAD

2013 06 22 gbpcad w1

9. GBPCHF

2013 06 22 gbpchf w1

10. USDJPY

2013 06 22 usdjpy w1

11. Gold XAUUSD

2013 06 22 xauusd d1

– – –

Follow me on twitter: https://twitter.com/StoicTrader

A word about the charts: On Sundays I tend to look at weekly OHLC bar charts and watch for a few things: classic chart patterns, channels, support/resistance, moving averages, and sometimes candle patterns.  I post a few that seem most relevant to me. I don’t necessarily trade based on weeklies, but they help me understand context and are useful to consult before trading in the lower timeframes.  I am always amazed how insignificant 300 pip moves look on a weekly chart.

A heptagram of currency crosses that I follow:

Heptagram 9

– – -Anything below here is an unaffiliated advertisement – – –

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: